Fading F&I

Amanda Gordon

Now that manufacturers are offering packaged deals on everything from maintenance, tire rotations and insurance, does the finance department still have an opportunity to sell product or are those days long gone? Thoughts...

Derrick Woolfson

I do think the profit margins are thinning w/ the competition, BUT - for our one OEM, our in-house options still offer a better deal. We do a "Maintenance Package," which offers 5 years key replacement (one key per year), cloth/leather protection, protectant seal on the unit, & road-side assistance. This has been a very successful package. We already give customers 5 free oil changes, but do try and also sell the extended warranty. But have more trouble selling it on pre-owned as it is only usually a 24 or 2-year warranty. 

Brendan Dolan

Our top F&I guys ran $2k a copy, and did a great job selling JM&A products. We found JM&A stuff for the most part was better than the OEM stuff, aside from Nissans excess wear and tear, and pre paid maintenance. 

There will be the opportunity in F&I, but it may require actual selling skills to be a top producer.

Tori Zinger

I agree with Scott. I think more talent will be required (not that F&I management doesn't require talent as it stands; I just think it will become more competitive to be successful).

I know some amazing F&I managers who kill it on the backend consistently and make a great living doing it, but they all can sell ketchup popsicles to a person wearing white gloves!

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