How to Capitalize on Financing and Insurance

Capitalize On Your F&I

Do you ever get that feeling that you’ve put all your effort into a sale, spent perhaps hours with a client, walking around the vehicle, letting them take it for a test drive— but the second you suggest any form of protection, your client looks at you like you have food stuck in your teeth? Why would they balk? But, in an instant, your prospect goes from willing participant in the conversation, to shutting you down like you’re a stranger and they need to run as fast as they can from you.

Don’t worry. It’s not them.

It’s you.


The Atrocity Of Your Handoff

It’s not your smile though. I’m sure it’s genuine. I’m even sure you’ve built the perfect rapport, putting their fears at ease and earned that sale of $40,000. The problem is in that instant, you go from knowledgeable advisor, to sleazy used car salesperson. You’re not being customer-centric.

That’s right. You may as well take a grinder to the hood of the car for all your prospect is going to buy it. Asking whether they wanted to protect that magnificent purchase wasn’t an ask, it was a betrayal. The car is great but, now it’s not? Your finance depart may be a part of your team, but that rapport doesn’t automatically transfer over.

It’s okay though. Financing and insurance don’t have to be as scary as people think. You don’t have to be that salesperson, sliding them into the conversation like you’ve already spoken about them a dozen times.

That’s the answer though. You should be talking about them a dozen times.

Your prospects aren’t comfortable with the conversation because you aren’t. They freeze up like the temperature dropped 50 degrees because you’ve just torn them from a happy dream.

Introduce F&I During the Walk-Around

You can do better with your F&I.

And it isn’t that hard.

What you should be doing is talking about it during the walk around. Qualify them as you have your conversation, not afterwards. You want to promote their intention to purchase. Make it comfortable by asking:

  • What do you do for a living?
  • How many vehicles have you owned?
  • Do you mainly drive on gravel roads, highways, or in the city?
  • Do you have kids?

Those questions will inform how you approach the financial elements of protection.

  • Heavy use may require extended warranty.
  • Volatile jobs may need payment or creditor protection.
  • Gravel roads may be hard on your wheels and tires.

Handing a client to the financial team after you’ve sold them on the vehicle can be jarring if they haven’t been prepared. Who wants to start the whole process over again? That’s not how to build trust with the client or your team. It’s definitely not customer-centric.

Consumers are often well educated about your vehicles before they come through the dealership’s doors. They may not however be so well versed in the protection of those vehicles. As you speak to them, you need to take an holistic approach, educating on the benefits of the vehicle. Promote the concept of ownership so they want to protect them.

Of course, the vehicle is great. Don’t you want to protect it from those gravel chips? Oh, you travel a lot for work? Drivetrain protection would a perfect complement.

Be Customer-Centric

In a customer-centric model, there is only one sale’s process and that includes ALL of the products you sell. It isn’t about what else you can stack on top of their bill, but advice on how to maximize their investment.

The Drive is a video series produce by Jason from Digital Dealership Solutions to assist vehicle dealership take their business to the next level. You can follow his videos here.


Thanks for reading! Stay tuned for more content.

Jason Harris


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