Lining for Time
Has your CSI score taken a dive lately? Do you suspect that it may be caused by the time the F&I process takes? If this sounds familiar, there is something you can do to speed things up in F&I and bring your CSI score back in line.
The key is to manage the customer’s perception of the time it takes to complete the F&I process. When a sales consultant shakes the customer’s hand and says, “Congratulations! We have a deal. Your paperwork will be ready in ten minutes.” . . . your F&I process (and CSI score) is set up to fail.
Instead, teach your sales consultants to “line for time” by using the following word track with their customers.
Our manufacturers have determined that it takes an average of 90 minutes to complete a world-class delivery. We here at ____________ take great pride in completing the process in a lot less time.
The F&I Manager should already be at the sales manager’s desk obtaining the deal when the sales consultant delivers this message to the customer. The F&I manager can then walk out the salesperson’s work area to introduce themselves, verify the sales figures, and explain the process that will take place next.
I will be helping you take care of the title work and all the funding issues. Please join me in my office while I enter your information into the computer.
This approach is sure to score well with everyone. The sales consultant is free to work with another customer. The F&I manager has an opportunity to build rapport with the customer as a prelude to presenting F&I products and services. The customer who receives the CSI questionnaire will recall that the F&I process actually took less than 90 minutes and reward the dealership with high marks.
Dealer Marketing Magazine, January 2004, p. 39