Write down customer objections, and keep track of mistakes that blew a sale, he said.
"We fill in a sheet with what products sold, what products were declined, and if they were declined, what the objection is," Gault said.
"When you have to hand write what it was that went wrong, it sticks in your mind and it helps them overcome it the next time."
Gault said F&I managers must have experience selling cars.
"Everybody in the finance department has sold cars at my store," he said.
"I'm a big believer," he said. "They've all been there, done that."
Gault said dealerships should be transparent about the fact that they make money on loans and leases negotiated at the stores. "Profit is not a dirty word," he said.
"Customers, they come in the box obviously leery about what's going to happen. We found that being transparent has actually led to an increase in our per-car revenues. We always let them know we make money doing the loans."
Assign suggested retail prices for F&I products and stick to them if possible. Sometimes it's impossible. Rather than lose a sale, let someone else try, Gault said.
All F&I sales managers "stick to the matrix, they don't deviate," he said.
"They are not allowed to discount any products in the office," he said. If the F&I manager can't get the customer to accept the set price, "they come in and tell me, 'This is their objection, and they won't do this or this.' I go in with the customer as a turnover and it's been very, very successful. We are raising our average and we are at an average 2.5 products per deal.
"A different face gets different results."