Dan Mason, corporate platform finance director at Brandon Steven Motors, has transformed the dealership group's finance and insurance operations and lifted F&I profit per vehicle by putting his managers in the hot seat.
Mason trains the F&I managers from the group's nine stores together at monthly meetings. The subject matter of the meetings changes but the overarching focus is always the same: a transparent and effective F&I process, he said.
At the April and May meetings, for example, Mason asked finance managers, two at a time, to overcome an F&I product objection in front of more than two dozen of their peers. Then the group voted on who overcame the objection better.
"Not only are they getting feedback and ideas from me, they're going to pick up things from each other that are a little different," he said. "Being up in front of your peers doing objection handling is the hardest place you can do it. If we can get graded doing it for each other, doing it for the customer is easy."