Kelly Korner – High Tech Route to Q.T. w/Customers
For most dealerships F&I represents a focal point for disclosures and an opportunity to cement a positive long-term relationship with the customer. Since many used car dealerships do not have a dedicated F&I position, the sales manager usually types the contract after the sales representative has (hopefully) used a menu to present protection product choices to the customer and fully disclosed the terms and conditions of the contract.
While customers certainly want to decrease the time it takes to complete sales documentation, rest assured no one wants to shorten it more than salespeople. For them, time spent with paperwork is time spent away from selling vehicles.
The key is to have an efficient process that allows dealership personnel to touch documents only once, provide full disclosure to customers, and protect the dealership.
As you create, tweak, or simply evaluate your current process, consider how computer technology can give you more time with customers. State of the art hardware and software innovations and Internet access make it possible for dealerships to network computers to minimize data entry, integrate accounting functions, and utilize flat screen monitors to save desk space.
Many dealerships now use computers to desk deals and print out traditional 4 squares. Others are employing computer software to make basic product presentations and generate electronic (e-contracts) with lenders.
While technology reduces the paper chase, it cannot replace the human factor in selling. The power of technology resides in our ability to use it to give us more time to spend with customers, creating confidence in the dealership and its personnel.
The F&I process is a combination of protection, documentation, and automation. How does your dealership rate in each of these areas? The upcoming NIADA convention in Atlanta June 7-11 will be a great place to find solutions that put you on the high tech road to higher customer satisfaction.
“Kelly’s Korner “ Column, OIADA Squeaky Wheel Newsletter, June 2005 Issue, p. 24