F&I tip: Dealerships should give frequent feedback to partner auto lenders, J.D. Power says

Dealerships should frequently speak to their lender partners about the lender's practices, said Patrick Roosenberg, senior director of automotive finance intelligence at J.D. Power.

"Provide consistent feedback to their lenders of what's working and what's not working," Roosenberg said. Also, tell lenders what the dealership expects from them, he said.

Roosenberg said dealers want a smooth process regardless of customer credit quality when they send over an auto deal meeting the parameters a lender says they'll fund.

"They expect quick decisions," he said. "They expect you to be available [for questions]. And they expect you to fund deals quickly that ... come in clean."

Have a good auto finance and insurance tip to share? Email Automotive News F&I reporters John Huetter at [email protected] and Paige Hodder at [email protected]. See more F&I tips at autonews.com/topic/fi-tips.