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How to Present F&I Products in 2020

How to Present F&I Products in 2020 Featured Image

The No-Friction Approach to Selling More F&I Products.

Team DealerVERO Blog Author Photo Team DealerVERO - Jul 12, 2020

Speed and integrity. This is what a customer cares about when they are browsing for their next new vehicle at your dealerships. How can you ensure you have the correct information immediately when your customers ask? The answer is simpler than you think. Our research has identified three keys to presenting F&I products in 2020 both in-store and online. Follow these steps to increase your dealership product sales and customer satisfaction scores. 

 

Have Product Pricing Information Ready

 

The time to gather information about F&I products for your customers is 10 minutes before they arrive. Obviously, this is not possible, but what is possible is your ability to prepare for estimated product price ranges for each F&I product you plan to present in the office. Keeping pricing materials readily available is key. Most customers have an idea of what vehicle they want before they enter the dealership. If you showcase your F&I product information online, your customers may even know about the products available. Customers will want to know pricing information quickly while browsing vehicles in order to calculate if it is in their budget. When your customers are on the fence, you are the expert that can help them understand the value in the products your store sells. 

 

Have Clear Supporting Information on Product Value

 

When your customers are on the fence about purchasing an F&I product, having supporting information is critical to appealing to the logical mind. Many F&I managers travel down the wrong path when customers are on the fence, trying to appeal to the emotional mind. It is much easier to appeal to the emotional mind, but your results will slide. A better approach is to provide information that bolsters the logical reasons to purchase the product. A great example is using an expensive vehicle part as a prop and providing information on how expensive the part is. This will help the customer to visualize and mentally grasp the value in the insurance product you are presenting. 

 

 

Allow Time for Customer Consideration

 

When a customer says "I want to think about it" or "Could you send me information so I could consider it", this is not an invitation to throw a few more close attempts at your customer. This will likely turn the customer off to both you as a representative of your dealership, and in-turn the product you are trying to sell. Many customers will find information online and purchase products elsewhere given an unwelcome high-pressure sales scenario. Have information ready to send home with your customer, or better yet email the customer a link to purchase products. Provide a clear path to purchase the products in question with no-friction. 

 

After implementing these three simple steps in your F&I presentation process, you will see much happier customers and higher sales of F&I products. Keeping a customer-centric view in your F&I office will not only increase product sales but also create amazing ambassadors for your dealership. As we close the 2020 year, keeping this perspective is the key to a successful F&I product presentation. 

 

 

 

 

 

 

 

F&I Product Presentation

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