F&I tip: Video chat with finance manager helpful on remote deals

A video chat between a finance manager and a consumer can be a helpful tool in auto deals, according to executives at digital retail software company Maverick Document Signings.

The remote notary and identity verification company also known as Mavsign, through a recent software update, has joined the ranks of providers offering the opportunity for video F&I interactions.

Mavsign President Val Balanescu said videoconferencing lets a finance manager schedule a time for a consumer to have an F&I menu presentation "from the comfort of their home." This expands the manager's capabilities and is "a very powerful tool," he said.

Thane Nyo, Mavsign vice president of sales, said he felt recordable videoconferencing could "enhance" an auto dealership's finance department.

"They can video their finance managers, see if they're presenting all the product," Nyo said.

In addition, the ability for the finance manager and consumer to view each other builds rapport, which might aid in sales, Nyo said.

Mavsign's video chat slots into the remote deal management process it offers clients. This capability is also valuable because a customer who desires to add another product or extend a service contract can be accommodated, Nyo said.

"They can change the contract on the spot," Nyo said. "On a remote deal, normally you can't because everything's already drawn up."

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.