For powersports dealerships across the nation, the F&I department (which stands for “Finance and Insurance”) represents a crucial aspect of day-to-day operations and represents a key contributor to dealership success.
Under the right circumstances, your F&I department will be a key contributor to new growth and establishing and maintaining overall culture at your current dealership. It’s important that all employees at your dealership understand, believe in, and become a proponent of your high quality F&I products and services.
But how does a dealership properly train itself in F&I, continue to boost its way of doing business, and position itself for new growth in the future?
Below, Torque Group goes over how to start and maintain a new culture of success in your dealership’s F&I department.
Start with Your Sales Team
Every person in a sales position at your company should deeply understand the customer mindset/psychology, not to mention have an encyclopedic knowledge of your F&I suite of products and services. Sales team members need to be able to show and demonstrate the value of your F&I products and services whenever a question arises, whether it has to do with VSC, GAP protection, or any other aspect of your F&I efforts.
Develop a Strong Understanding
Training your entire team to have an understanding of your F&I department will create a level of consistency as well as help you convey a clear message to your customers/clients. Having any member of your team be able to provide a seamless transition for customers to your F&I manager will help boost your sales in the long and short run. Even your service department can contribute to your dealership’s F&I efforts if your dealership is performing like the well-oiled machine it has the potential to be.
Engage in Continuous F&I Training
F&I training is a crucial component in the success of any dealerships finance and insurance department. At Torque Group, we provide F&I training that will help your powersports dealership get to the next level and beat out any competition in 2020. Contact us today to learn more about who we are, what we do, and the ways we can help your business succeed today and tomorrow.
