Tag Archive | "F&I training"

Kia Motors America Has Renewed Its Agreement with JM&A Group


JM&A Group, one of the largest independent providers of finance and insurance (F&I) products in the automotive industry. Together, they will continue delivering top-rated service contracts and added protections for Kia customers.

KMA first partnered with JM&A in 2007 to grow its dealer programs using branded F&I products and extended warranty services known as the Kia Distinction. Today, 716 Kia dealers provide customers with at least one of JM&A’s industry-leading products. Of those, more than 400 are enrolled in five service offerings.

“We are thrilled to continue our relationship with Kia,” said Forrest Heathcott, President of JM&A Group. “We have great momentum and expect another excellent performance year. JM&A remains committed to providing automotive dealers with strategic support and we look forward to helping Kia maintain superior performance and growth.”

Kia’s suite of branded products includes vehicle protection plan, maintenance plan, road hazard tire coverage, Term Care Select, Certified Pre-Owned (CPO) and CPO Wrap programs, as well as Paintless Dent Removal coverage, an added benefit for consumers who want to maintain their vehicles’ appearance over time.

JM&A also provides Kia dealers with F&I Training in associate development, consumer-friendly sales methods, compliance, marketing and e-contracting. Over the last eight years, the partnership has helped Kia build customer loyalty, boost dealer profitability and establish its CPO program as the industry standard among non-luxury vehicle brands. Kia Distinction product sales have increased by 25 percent and the Kia CPO program continues to experience retail growth at 43 percent.

“Our customers’ satisfaction and peace of mind is our highest priority, and providing our dealers with the best possible F&I products and training in the industry helps us ensure that the needs of Kia customers will be met,” said, David Carp, Director of Fleet, Remarketing & CPO, Kia Motors of North America. “We look forward to continuing this relationship with JM&A and utilizing the tools they help us provide our dealers.”

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Reahard to Tackle Training at Agent Summit


LAS VEGAS — Organizers of Agent Summit V have announced that Ron Reahard, president of Reahard & Associates, will helm a session dedicated to Training at the event, which is scheduled for March 2–4 at the Venetian Palazzo Las Vegas.

“Ron Reahard’s name is well-know in dealer and agency circles as a top trainer and a pioneer in the F&I segment,” said David Gesualdo, show chair and publisher of Agent Entrepreneur and F&I and Showroom. “He is no stranger to Agent Summit and we can’t wait to see what he has in store for our attendees this year.”

Reahard’s address is titled “Training, Sir!” and will focus on strategies agents can use to expand upon the product-provider aspect of agency operations to become true business partners to their dealer clients.

“Ron has had many speaking appearances at Agent Summit, Industry Summit and NADA among others always delivering high quality take aways for all who attend,” said Randy Crisorio, president and CEO of United Development Systems Inc. (UDS) and chair of the Agent Summit advisory board. “We are pleased to have Reahard back on center stage for Agent Summit V.”

To register for Agent Summit or for more information, visit AgentSummit.com. Attendees who register by Feb. 1 will receive a $100 early-bird discount. For sponsorship and exhibition opportunities, contact Eric Gesualdo via email hidden; JavaScript is required or call 727-612-8826.

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Think Like A Customer


What do Starbucks, Apple, Fed-Ex and Dollar General all have in common? Each company had a crossroads moment when their business was in decline and the future was uncertain. Also each company had a turn-around that was based on an intentional effort to make changes that were based on what the customer thinks and wants.

Dollar General is a surprising company in the list above. However, their effort to adjust their business model, based on what their customers think, has led to 2800 new stores and 30,000 new jobs since 2004. All great company leaders have a clear understanding of their customers. It is the basis of why a company exists. It’s the foundation of an organization’s vision and strategy. Customers, if we listen to them, will tell us all we need to know to develop the right products and services to grow a viable business.

We all have an idea of what we think is the best way to present products. Should we talk about products immediately after meeting the customer, or after we have discovered why the customer needs them? When should we present the menu? Should we conduct a customer interview at the salesperson’s desk or in the F&I office? Should we use an iPad in our presentation or the traditional paper menu? The plain answer is: it really doesn’t matter what I think or what you think. What the customer thinks is what really matters! We should filter everything we do in the F&I office through the concept of “What does the customer think?” Customer behavior and preferences are changing frequently, and the same manner utilized effectively to present products several years ago is obsolete today. While the principles of selling are timeless, the manner in which they are carried out does change.

When the video rental market welcomed a new player called Red Box, there were others that said, “It will never work.” You see companies that refuse to change and adapt to customer behavior and preference and get left behind. F&I professionals who refuse to change do too! Let’s look at two important ways we need to adjust our presentation that matches what customers think and like.

Customers are interested in what they do and what they like.
If we stop talking about ourselves and listen and learn more about each customer, we will have the clues to what will lead them to buy. The most important tool in the F&I office is “you told me earlier.” When we repeat something a customer told us, they know they have been heard. Then the chances they will buy our products go up dramatically. Customers are not likely to buy our products because of what they hear, but because they feel they have been heard! There is a direct correlation between your ability to listen effectively and the level of your success. I have yet to find a top-producing F&I professional who doesn’t have superior listening skills.

Use the 70/30 rule.
Customers should be talking 70% of the time and we should be talking 30% during the time leading up to the menu presentation. That demands that we use open-ended questions to get them talking.
Recently while reviewing a video of an F&I transaction, I counted the facts that I learned from the conversation. I learned 12 facts about the F&I manager, including where they grew up, what they drive, what F&I products they buy and how long they have been in F&I. I learned five facts about the customer. I also watched the customer respond to the question “What brought you in to buy a car today?” She responded, “My husband has been given 12 months to live and he wants me to have a new car.” The F&I manager responded, “That is great. So what are you trading today?” Really! She wanted to talk about her husband and her family. Guess how many products they sold to that customer? You guessed correctly. Zero!

Getting customers to talk about themselves is not a trick to get customers to buy. It’s what they like to do. So let them! If we let them talk about what they do and what they like, they are more likely to be comfortable with the process and listen to what we have to say. That’s the goal. So stop talking and start listening more intentionally. Customers love to talk about themselves. Let them!

Customers want to know what their options are.
Customers like to review their options. They like a process without being pressured to buy a product that someone else thinks they need. They simply will not buy a product they don’t want and don’t think they need. Our effort to lead the customer to buy should only happen after we have established that they need the product in their eyes, not ours. Customers expect someone is going to pressure them to buy products they don’t want or need. What a relief when they find a different experience. You see, if we want to change the outcome of our F&I presentations, we must change the experience.

Remove the pressure from your presentation. When pressure goes down, customer resistance does too! When a customer says “No”, welcome it and agree with their decision. “Absolutely, the last thing you want to do is increase your payment. If you thought you were going to have problems with your new Lexus, you would buy something else. Am I right?” The pressure to buy just went out of the sales balloon and you now have the opportunity to follow up with, “You certainly don’t have to buy anything you don’t see value in. However you said something a minute ago that really got my attention.”

Use the menu as it was intended: to be a non-threatening disclosure of the customer’s options, not an effort to sell. Do not sell the first time through the menu. Just simply tell them what each product is and what it does. Even something as simple as the layout of the menu can put a customer at ease. They expect us to try and sell them an “extended warranty.” So if it is listed first on the menu immediately they think, “I knew they were going to try and sell me that,” and they stop listening to anything else we say. Why not list a product they are not familiar with first and list the service agreement further down the list? Customers might like it. And remember: it doesn’t matter what we like, it only matters what they like.

Starbucks didn’t offer free Wi-Fi or breakfast items until they listened to their customers. Fed-Ex didn’t develop the “total office experience” until their customers told them what they wanted. And Dollar General didn’t offer grocery items or new, clean and convenient locations until their customers told them what they expected. Customers have something to say. The question is: are we listening? And even more, are we willing to change to think like our customers and give them the experience they want? The answer to that question holds the keys to our future success!

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Raiders of the Lost Profit


There are a few ways dealerships lose profit, which they can fix right now. Here’s a look at some of the biggest offenders.

Monday Mornings
It’s the same every week: Monday morning you walk into the office, get your coffee and look at the stack of deals that are piled up on your desk from the weekend. By the end of the day on Saturday and Sunday, everyone just wanted to hurry up and get out of there, so this is how you start every week. The last thing you want to see on a Monday is a customer in the showroom when you have paperwork piled high from the weekend. Thank goodness there are only four Mondays in a month! You have to be more administratively sound so you can handle those deals quicker on Monday mornings, because you have a Monday every week. If we don’t deal with things quickly and efficiently on Mondays, then it can have a trickle-down effect into the rest of the week and can be a big way to lose profit.

CITs
Next we have CITs or Contracts in Transit – in other words, the money is not in the bank yet. And again Monday is just the start of it. CITs are like bananas: they start out nice and ripe, but then they just get riper, and then next thing you know you have to throw them away. It’s the same with CITs – the longer they sit on your desk before they get to the bank, the more the dealership is losing. That’s why at UDS, when we refer to a CIT, we call it a “Cash It Today.” If you can change your thinking on this, and get CITs cashed the same day, that will be one more way you won’t be losing profit.

There are several ways you can cash a contract today: self fund, eContracting, fax funding or overnight enveloping. If you want to get a deal cashed right away, utilize the most up to date processes, and use the checklists in deals. There are always checklists, but no one ever seems to utilize them – they just throw the list in there. That’s like flying without gas in the plane.

In F&I, you should be ironing out the most difficult challenges first. It’s human nature to have a tendency to save the worst for last, but that’s a terrible strategy in F&I because as those deals are waiting, the difficulties are getting worse. You have to go over the worst first, and only once they are handled can you move on to the easy ones. It’s the exact opposite of the way you did things in college when you would do the all the easy problems first on a test and then go back and save the hard ones for last.

Heat sheet meetings are important to ensure everyone is working for the same, common goal: to get the deal funded. This way, everything is not just riding on your shoulders; everyone has the same goal in mind. Depending on the size of the dealership, you should have meetings every day or every other day.

Internet, Credit Unions, Cash and Lease Deals
F&I managers have a tendency to work the deal if the customer is at the dealership, but if the customer is away from the dealership, an Internet or phone deal for example, the F&I manager will tend to take that deal and throw it on their credenza until the customer comes in. Unfortunately, what usually happens next is that when the customer does come in, they come in with pre-approved credit, a check or they may have already done their financing, leaving the F&I manager pretty much locked down. You have to be proactive, not just be reactive. You have to be out in the trenches, every day before you go to work, talking with management teams and sales consultants to find out what’s going on.

F&I has not really embraced the Internet shopper yet. Statistics have proven that in the last couple of years, 80-85% of customers are coming to us from the Internet. As a result, we’ve got to change our mindset. The Internet customer is probably more important to you than the ones on the floor. In fact the Internet customer has expressed an intention to come to you to buy that car, and the problem is we’re not ready to sell it to them. Instead we take them through this whole process and it just bogs them down. We are not Internet-savvy enough in F&I; we have to embrace those transactions. The biggest problem is that we don’t have a process for Internet customers – no one calls them and everyone waits for them to come into the dealership. That’s going to cost you tons of money. Get smart and use the phone, and be ready when they arrive; that’s what they want. Make it a big event when they arrive. You will sell more cars and make more money. It’s the same with credit union, cash and lease deals – we need to embrace those deals too.

We often ask the customers, “What’s the rate?” when we find out they are going to a credit union. Stop asking that question, and instead ask why they are going to the credit union in the first place. If they say it’s because that’s where they do all their business and they are loyal to them, then you’re not going to beat that, but if they say it’s because they are getting a great rate, then you’ve got something to work with. If you just ask them what the rate is, they aren’t going to tell you the truth; they are likely going to tell you they are getting a much lower rate than they actually are getting from the credit union.
Learn to embrace credit union, lease and cash deals the same as you would finance deals; they come with the territory. Remember, everyone faces the same perils of the road whether they are a lease, cash or finance deal. Slow down the deal and allow the process to drive your profits.

Attitude: YOU are the greatest challenge
Your attitude can make money or can displace money. If you have a really good attitude about every deal, then you’re going to make money. If you think you can, you probably will; if you think you can’t, you probably won’t. It’s all about attitude. Look in the mirror and ask yourself, “Am I part of the pitfalls of F&I? Am I a DO-er or a do NOT-er?”

Our attitude is usually dictated by the kind of deal we get in F&I. You have to look at every deal you have as an opportunity whether it’s a finance deal, cash or lease deal. We know that 80% of our money comes from a finance deal. So you have to set your menu up properly; I’ve witnessed F&I managers use the same menu whether it was finance, lease or cash and they will have products on their menu that the customer simply doesn’t qualify for. For example, they will have GAP on a menu where the customer is putting 50% down. Or they will have a service contract for 5 years or 75000 miles on a lease for only 3 years and it makes no sense! You have to tailor the presentation to the type of deal it is as well as the customer’s driving criteria, which you will find out during the introduction.

Lost Opportunities in the Service Drive
A lot of F&I managers are relying on the service managers to do their job for them. It is the F&I manager’s job to hold the service manager accountable to send them referrals. Instead of going in the front door, they should go in the service walk every morning and ask, “Hey, what’s going on? Have you got any deals today? Do you have any customers who are almost out of their factory warranties that I can talk to?” Instead of relying on the service manager to bring you the deal, you need to be proactive.

Mysteriously Appearing Deals, or Dude Where’s My Car?
Form an alliance with the sales staff. Go out and really talk with them and find out what kind of appointments they have going on. You have to have a willingness to manage deals, even if the customer isn’t at the dealership – that is the biggest challenge. Utilize your CRM, Customer Retention Tool. You have to have access to that tool and use it consistently, because it’s the eyes and ears of the sales and sales management staff, in order for you to be proactive and know what’s going on.

Multiple Product Sales
F&I managers don’t really follow a menu process that allows them to get multiple products. Often times they rely on the banks’ call back, and the banks frequently limit their callbacks to the number of products they can sell. They rely on how the deal was structured at the desk, and if the desk cuts them out then they feel that they can’t sell any more products. This is a lost profit opportunity because you can offer every product to every single customer – it’s in the manner in which you do that. Sometimes you may be locked out, but you can tell the customer, “Look, we are making these products available to you. Some of them we can finance and some of them we can’t. If you are interested, then we will find a means to get you into those products.” We should always tell them this because there are all sorts of ways you can do it, such as repayment plans. You can’t allow the call back or the sales desk to dictate your destiny in F&I.

Follow the 300 Rule, which is this: Present 100% of the products to 100% of the customers 100% of the time (assuming they qualify). Every customer must have the opportunity to at least know the products available to them. Consider the ABC’s of F&I: The A is always ask permission. When I was a kid, I was taught to say, “may I.” If you said, “can I,” then the adult would tell you that you couldn’t, but if you were polite they would respond, “Yes, you may.” So you learned to be polite and ask permission. The B is for break down the options. Instead of breaking down products on a menu, or any type of presentation you have, break down the options and narrow the choices. You have four columns on the menu – you might have six or seven products on the first column, that’s six or seven choices. You want to make that so that it’s one option. You break down the options, and therefore you only have four choices that the customer has now, instead of six or seven. C stands for close on the options, don’t close on individual products. When a customer says, “I’ll take GAP; I had it on my last car.” You respond with, “Great, which option would you like it in?” rather than just saying okay.

Utilize a final disclosure. The menu should be used as a disclosure, and the final disclosure should be your waiver. If you look at the F&I menu as a selling tool, then you are looking at it the wrong way. It’s nothing more than a disclosure after you give a presentation.

Finally, tell your story, don’t sell your story! Tell your story as you expose your products on the menu. Sell your story after you’ve exposed all your products on the menu. There’s a difference between a feature and a benefit. The feature is the tell, the benefit is the sell. You want the feature presentation initially, then after you do the feature presentation, you do the benefits presentation. That would be the sell.

Don’t let excuses get in the way of your strengths. The bottom line in avoiding lost profit opportunities is to consistently use effective processes, proper procedures and to always have a positive attitude. A bad attitude is like a flat tire; it will never get you anywhere. Remember these tips and soon you will be busy counting your profits and not thinking about your lost opportunities!

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Catching “The Big One”


Are you still floating in the muddy waters near the shoreline rowing your way to the fishing hole while gazing with envy when an M70 sport fishing yacht with all the bells and whistles whizzes past you?

This isn’t an article about fishing, but the analogy can be likened to your aspirations to “catch” a 100 service contract account. You want to own one of those yachts. You can’t figure out what’s missing from your already full tackle box. You’ve got the highest quality gear. You’ve been in the industry a long time. You’ve seen and done it all. You’ve spent years in finance and know dealers statewide, and they know you. You’ve done your homework and price out your products by what you think the industry will hold. You’re certainly worthy of a reasonable commission.

Or maybe you’re an entrepreneur and can’t seem to grow your customer base.

Many dealers nationwide are looking for a change in product providers. The recession and exploding use of social media and technology have changed the way they conduct business. Their needs are not only different, it’s difficult for them to keep up with all the rules and regulations that should be followed by their finance personnel. This is where you’ll find your opportunity to compete in the “Fishing Tournament” with the leading competitors.

How can you compete and become known as a champion in the industry? How can you bring in the tunas along with the minnows? First, by learning to listen and observe and evaluate. Every dealer has a problem. Maybe more. Be the problem solver. Before you throw out your hook and line of products, know what’s needed or what needs to be changed and why. This requires that you have exceptional F&I training. It’s essential for success in your “fishing” endeavors.

Why? It’s not only about high-quality products, pricing and options; corporate agents will out-bid you. Besides, they’re long-time champions who know the treacherous waters facing dealers in today’s economic environment and have an impressive cache of gear to sell them. The corporate name alone sells the products. Your success is not based on having the fanciest fishing gear or the biggest and fastest boat. It’s not having the ability to convey an exaggerated fish story in a believable manner. It’s about having the right attitude and building a trusted and personal rapport with the dealer and finance officer. It’s about having thorough knowledge of every new law and regulation and sharing your expertise with dealers and F&I managers to assist them in with any breaches in their methods that could put them at risk of a law suit.

The acquiring of knowledge and training is never “finished.” Dealerships and even third-party administrators are under the radar of the FTC and CFPB, who are initiating serious lawsuits. Compliance and transparency in selling are not just critical, they’re fundamental necessities. Don’t get caught in uncharted waters by the circling federal sharks. Become the service contract agent who can provide dealer personnel with exemplary F&I training and guidance on compliance and technology.

Every F&I manager needs updated and regular training in how to actively engage customers in their completely “transparent” menu options process. Performance tracking is required. Although technology tools are employed by nearly every dealership, they come with more regulations and legal scrutiny. Dealership compliance manuals must be intact and updated to reflect sound practices. Adverse reaction letters must be recorded and kept on file.

In June of 2012, the FTC charged EPN, a Utah debt collector, and a Georgia budget car sales dealership for “illegally exposing sensitive personal information of consumers” by allowing peer-to-peer file sharing software to be installed on their company PC systems. Agents and dealership personnel must know that all files shared on a P2P network can be viewed and downloaded by anyone with access and have proper security plans to inhibit this risk.

Why is this a litigious issue of increasing concern? Because the FTC charged that “the names, the addresses, social security numbers, dates of birth and drivers license numbers of approximately 95,000 consumers were made available to the P2P network.” The car dealership also allegedly failed “to provide annual privacy notices” and “a mechanism by which consumers could opt out of information sharing with third parties, in violation of the GLB Privacy Rule.”

Be an agent who offers dealership partners the most commendable service. Sell your value as someone who can enhance opportunities for increasing profits by limiting liability. Be the champion who can lead dealerships through perilous waters by minimizing their legal scrutiny. Training, long-term development, compliance and technology. It’s a winning combination and far from a mere offering of product price quotes. Today’s agent is equipped with the mightiest of tools, a Crowder Deep Drop Rod designed for the big-game fisherman — one who grows his own business while sharing his experience and knowledge with others.

William Tapply, author of A Fly-Fishing Life, said, “I’ve gone fishing thousands of times in my life, and I have never once felt unlucky or poorly paid for those hours on the water.”

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Making the F&I Process Work for Your Clients


Team One is somewhat unique in the industry in that we don’t sell any products. We are a research, process development and training company. We supply our process and training as a support system for a network of general agents and F&I product providers throughout the U.S., Canada and Australia.

Since developing and introducing the F&I Menu concept to the industry in the early 1990s (then as Summit Systems), we have studied and measured the results of every imaginable F&I process and approach – and some of these approaches were very creative.

They took many forms, including the 16 original F&I menu layouts, full-color laminated place mats, flip charts, videos shown to the customer (originally on tape, then on DVD), various sales pitches and, more recently, computer screen presentations, iPad presentations, and even presentations you can do on your smartphone.

And whenever you analyze the results of different F&I approaches, some basic principles always seem to end up determining whether a process will be a long-term success or failure.

First, It Should Be Easy.

It doesn’t matter how good a process is in theory; if it isn’t used, it won’t work. And we found in extensive process testing that if a process was too difficult and cumbersome, even if F&I managers were willing to try it out initially, over time, the more burdensome it was, the less likely it was to be used.

It Should Be Simple.

Buying a car is a very taxing intellectual and emotional process for most buyers. And it’s amazing how easy it is to make the presentation of F&I products so complicated that the customers have trouble grasping and retaining what is being presented. And when they don’t understand it easily, they resist.

With over 19 years of F&I process development, we have found that an effective F&I process keeps the product description short and to the point and the language of the presentation simple enough for the customer to understand easily.

F&I products really aren’t that complicated. And if the customer understands them easily, they will buy them. But you have to keep it simple. Many of the processes we tested over the years didn’t work, simply because they deluged the customer with more information than they could easily retain.

It Should Be Fast.

The Retention Acceptance study below measured three factors from customer interviews after conventional F&I sales presentations. They were Retention, meaning how much they understood about the product, Acceptance, their positive or negative opinion of the product, and Purchased, the product they actually bought or said they wanted to buy.

Retention, Acceptance, Purchase

The customers’ responses clearly show that the F&I manager only has 5 to 8 minutes to present all their products. After that, the customer doesn’t retain any useful level of understanding, has a negative view of the product presented, and is much less likely to purchase it.

It Should Not Evoke the Dreaded ‘Sales Resistant Response.’

What do I mean by a sales resistant response? To explain, let’s take a look inside the customer’s head.

While every customer is different in many ways, they all process visual and auditory stimuli the same way. When the eyes and ears receive stimuli, that information is processed in an area of the brain called the thalamus.

The thalamus receives messages, interprets them and sends them to the conscious mind. That processing takes into account all of one’s knowledge, experience, fears, and biases and then sends a predetermined evaluation of that information to the area of the mind we recognize as conscious thought: the frontal lobe of the cerebral cortex.

The Brain

This process is the way the brain protects you from various threats and fears – and causes sales resistance. When this stimulus is processed by the thalamus, it makes powerfully suggestive, primary decisions about that input. The customer’s reaction will simply be a reflection of that. The customer consciously receives this powerful message and makes decisions, largely based on what that message tells them.

We recently measured “real” results of different F&I approaches in “real” F&I offices. If any principle we have learned over 19 years of F&I process development was reinforced, it was that evoking the dreaded “sales resistant response” can certainly make the F&I manager’s job a whole lot tougher.

Obvious “In Your Face” Sales Tools

I get questions all the time about which media work best for presenting F&I products. Over the years, we have tested every conceivable type. And no matter which medium the F&I manager uses to present products, if the visual media looks like an obvious “sales tool,” the customer will naturally and automatically respond with sales resistance.

The Brain

If something in a process evokes the dreaded sales resistant response, the F&I managers end up spending all of their energy trying to overcome it. They’ll soon feel like they are working too hard, and eventually stop using the process altogether.
Worse yet, it also makes the process uncomfortable for the customer. And frankly, it’s not necessary.

Much of the conventional wisdom in F&I over the last 40 years has been to try to overcome that sales resistance by “creating value” or “developing rapport” or “overcoming objections” (or in the old days, “rolling over them”) with a variety of sales techniques.

But as we moved from the Consumer Age of the ’80s into the 2000s, and certainly today, we found customers were becoming more and more resistant and much more skeptical of any obvious, “in your face” type of sales pitch.

If the F&I process can avoid evoking that response in the first place, it makes things much, much easier for the F&I manager and as a result, they use the process and sell a lot more F&I products.

What’s the answer?

Well, fortunately for the income development agent, the solution to the issues above is actually quite easy to accomplish. The simple answer is to show your F&I managers how to present their products in the shortest, simplest possible way and, just as importantly, do it using their own natural way of speaking.

This approach not only communicates more clearly but registers in the customer’s mind as being genuine.
How do we help the F&I manager to check their presentation to see if meets those basic principles, can be clearly understood, and sounds genuine?

The best way is to have them practice it with those closest to them. Suggest that they practice their presentation with their husband, wife, boyfriend, girlfriend, mom, dad or anyone else who’s very close to them and knows their speech pattern. Just make sure it’s someone outside of the business.

Do not have them practice with a fellow F&I manager. They will figure out how to add another 10 minutes worth of magnificent and wonderful features and benefits. You know they love selling and, of course, like hearing the sound of our own voice.

Have them get honest opinions from that person as a consumer. Have them time their presentation and ask if they are taking too long. Have them ask whether they sound “natural” when they present their products.

They will be amazed at how much they learn from this exercise and they’ll actually have fun doing it. So, try it! We have had great success with this exercise. Some of the top F&I performers in the country have told us it has had a dramatic effect on their performance.

And if it works for them, it just might work for your clients.

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