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How to Sell F&I Products After the Sale?

How to Sell F&I Products After the Sale? Featured Image

Why Your Dealership is Missing a Major Opportunity to Sell More F&I Products.

Team DealerVERO Blog Author Photo Team DealerVERO - May 29, 2018

It is estimated that over 45% of dealership profitability comes from F&I products, and there are many dealerships I know personally that are much higher. You will only sell a limited number of products in-store, and to hope to sell every product all the time is simply not feasible. When you take the pressure of the single interaction and allow your customers to purchase F&I products after the sale, you will win more product sales and higher customer satisfaction rates. Here are a few ways to sell F&I products after the sale. 

Sell Using Technology: 

This is a no-brainer. If you have an F&I menu or technology partner that doesn't include a way for customers to purchase products after the sale, contact us and we will get you set up with DealerCampaign, a simple automated process. The key here is to allow the customer to simply purchase products when they want to from any device. When you are in the dealership, you are educating the customer on options, and when they leave, give them a way to come back and purchase the products. There are a lot of state and local regulations around selling F&I products after the sale, so ensure you have a partner that understands this complex legal landscape and how to properly enable post-F&I sales. 

Sell With a Personal Touch: 

Everyone loves when someone gives them a call to check in and see how things are going, especially with a new vehicle. Many dealerships restrict this function to the sales team, but why not use the same method in F&I. Give the customer a call and ask if everything is working well with the vehicle, and if they have any questions about it. Even if you can't answer the questions, you are still forming a trust relationship with the customer and ensuring that if they do have questions they are comfortable coming to you. I always like to throw in a story that they will remember that relates to a product that was sold. Before your call, go and talk to a service advisor and ask if anyone has had a large repair covered by a vehicle service contract. Get the information and slip in the cost of the repair and the savings the insurance product they have has saved another customer. This bolsters the product value in the customer mind and helps them feel good about the purchase. 

Sell in Service

You would be surprised to know that 85% of dealerships do not sell F&I products in service. This is a great opportunity to show customers valuable products and protect their vehicle. Provide your service advisors with a simple way to show customers products that are available for purchase. Make sure you are only showing products that the customer has not already purchased. Nothing is more embarrassing and segmented than when the customer has to tell you they already purchased a product you are presenting when they bought the vehicle. Have an F&I menu that has a service option to seamlessly allow continued F&I sales in the service drive. 

Conculsion

There are F&I product companies that sell products only after the sale and make a killing. When your dealership utilizes these 3 simple methods for selling products after your automobile sales, you will ensure you are getting a cut of that pie. Don't miss opportunities to sell your F&I products in a transparent and simple fashion after the sale. 

After-Sale F&I Transparent F&I F&I Product Presentation F&I Menu

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