4 Ways to
Modify Your
F&I Process
in the Age of
the Customer

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Fewer than 1% of car buyers like the current car buying process.1

In fact, 1 in 3 Americans would rather do their taxes, go to the DMV, or sit in the middle airplane seat than buy a vehicle at a dealership.2

As a dealer, are you worried yet?

The F&I office is an especially sore spot for many car buyers. After all, we live in the Age of the Customer where the buyer is boss. They want to do their own research and they hate hard selling.

Fortunately for you, there are four ways to improve your F&I processes to meet customer expectations.

1 2015 Autotrader Car Buyer of the Future Study
2 2014 Edmunds.com Car Week Survey

Make it quick.

The amount of time it takes to complete a purchase is the number one frustration of car buyers3 and 1⁄4 of that time is spent in the F&I office4. Save time where you can and, where you can’t, give the customer something to do. Swap that free cup of coffee for an iPad and let them learn about your F&I offerings on their own. 2/3 of customers are more likely to purchase F&I products if they can learn about them on their own time.5

3 2014 IHS Automotive Buyer Influence Study
4 2016 Cox Automotive Emotional Connections Research
5 2015 Cox Automotive Finance & Insurance Study

Make it interactive.

Your F&I presentation is putting people to sleep. Gone are the days of black and white text on a page—you need photos, videos, and short descriptions displayed on an interactive tablet to engage the customer.

Make it personal.

A prescribed sales process doesn’t cut it. In fact, 9 of 10 customers prefer a personalized car buying journey, so use effective technology to create and tailor the F&I sales pitch.

5 2015 Cox Automotive Finance & Insurance Study

Make it stick.

Whatever you do, don’t buy into the fix-it-and-forget-it mindset. Dealerships need to do more than adopt in-store technologies. Ensuring full and consistent utilization by:

  • Getting full buy-in from the management team
  • Incentivizing technology utilization
  • Analyzing performance
  • Celebrating successes
  • Insisting on 100% utilization

Start by making simple improvements to your F&I process and you’ll soon see happier customers and higher profits.

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