How to Differentiate Yourself in a Softer Retail Market

Posted by Briana Drugg on May 14, 2019 3:08:39 PM

By now, we’ve all heard the news: the automotive retail market is looking softer.  New vehicle sales were down again in April, and in March,  Moody’s released their global auto outlook, which was particularly bearish on the U.S. market and vehicle financing.  Some dealers may be thinking back to the last market downturn and feeling pessimistic.  But the good news is that even with this bearish outlook, the retail automotive space is in a very different place than it was a decade ago. 

Read More

Topics: F&I

Corporate Lender or Local Bank: Which is Right for Your Dealership's F&I Department?

Posted by Steve Gault on May 7, 2019 2:01:00 PM

As a local auto dealership, one of the most important F&I decisions you'll make is which financial lender to use for your auto financing deals. Finding the right lending partner for your dealership means striking a balance between your needs as an auto retailer and the needs of your customers. While the dealer services at larger institutions may offer a wider range of resources to you, your buyers may prefer the more personalized experience they can get from a smaller lender.

Read More

How to Ensure Your Auto Dealer Credit Check is OFAC Compliant

Posted by Karan Narang on Apr 30, 2019 1:56:00 PM

As an auto dealership, you know your F&I department needs to run a credit check on a prospect before you sell them a vehicle. You also know that you’re required to check the Office of Foreign Asset Control (OFAC) database make sure your potential customer hasn’t been flagged as a dangerous individual. Most consumer credit check services automatically run a prospective buyer’s name against OFAC’s Specially Designated Nationals (SDN) list. However, you shouldn’t assume that your third-party service will do this. It’s important to ensure that your credit checks are OFAC compliant, and that you know the proper protocol if a customer’s name returns a result on the SDN list.

Read More

Topics: F&I

How is Artificial Intelligence Impacting Auto Insurance?

Posted by Chris Wells on Apr 23, 2019 1:51:00 PM

2018 has been the year of artificial intelligence, as experts across all industries are preparing for the changes this technology will bring to their market.

The auto industry is no different. As autonomous vehicles powered by AI become more widely available, auto insurance―specifically, types of policies and pricing models―will change drastically.

Read More

Topics: F&I

3 Ways to Create a Seamless Dealership F&I Experience

Posted by Briana Drugg on Apr 15, 2019 8:00:00 PM

Your customer has found a car they love at your dealership and can’t wait to drive it home. But first comes the hour or more spent in the dealership F&I office.

Read More

Topics: F&I

3 Talk Tracks for Sales Teams to Start a More Productive Automotive F&I Discussion

Posted by Briana Drugg on Apr 8, 2019 9:35:00 AM

A strong sales talk track integrates and positions F&I products and services as the answer to buyer questions during the negotiation process. These tracks―also called word tracks, elevator pitches, and sales scripts―are structured to uncover your customer’s needs and concerns, and position your F&I department as the solution.

Read More

Digital Dealer 2019

Posted by DealerPolicy on Apr 1, 2019 9:55:28 AM

These Hot Topics Are Taking Center Stage  

The annual Digital Dealer Conference & Expo is one of the biggest automotive industry events in the country.  Of the 100-plus seminars scheduled during the conference, there are many breakout sessions that focus on direct car sales strategies. However, topics around the modern buyer journey, customer sentiment, digital retailing, and F&I are beginning to take center stage. Here are a few topics to hit at Digital Dealer’s three-day event:

Read More

Topics: Digital Dealer 2019

Hiring an Auto Finance Manager: What to Look For in a Modern F&I Candidate

Posted by Briana Drugg on Mar 27, 2019 9:29:00 AM

As we know, the F&I office is an important profit center in a dealership. According to Payscale, the average auto finance manager salary is about $69,000 a year, which is a significant operational expense for small to mid-size dealerships. Considering this investment, it’s imperative that candidates have a thorough understanding of the modern sales process, vehicle financing, auto insurance, and F&I products. If you are about to begin your search, it’s time to change up your recruiting and hiring process. We have a few pointers for you to increase the likelihood of finding the right fit.

Read More

How to Sell Electric Cars and Boost F&I at the Same Time with F&I Software

Posted by Briana Drugg on Mar 19, 2019 8:08:00 PM

While gas-powered vehicles are still very much the auto industry standard, more and more consumers are interested in electric cars. Although there’s a bigger upfront investment, both for the dealer and the customer, the long-term environmental benefits and fuel cost savings is appealing enough to justify the price tag. If your dealership has avoided electric cars due to the higher inventory price, you may want to reconsider. There are opportunities to provide solutions to common electric car buyer concerns and increase your F&I profit center through extended warranties and auto insurance savings.

Read More

Topics: F&I

Automotive Retail Trends - How Can Your Dealership Combat Declining Sedan Sales?

Posted by Mike Kenton on Mar 13, 2019 8:01:42 PM

In November 2018, General Motors announced that it would be dropping six of its sedan models in favor of trucks, SUVs, and electric and autonomous vehicles. Discontinued vehicles include three Chevrolets (Volt, Cruze, and Impala), two Cadillacs (CT6 and XTS), and the Buick LaCrosse.

Read More

Topics: Digital Retailing

Run Your Dealership More Efficiently and Profitably

With DealerPolicy you can:

  • Give your customers thousands more in buying power
  • Sell more cars, more profitably
  • Earn recurring income

Subscribe to the blog to get insights on these topics and more.

Subscribe Here!

Vertical CTA | 2019 Auto Dealership Income 2019 Ebook

Recent Posts