The Big Story – July 2017 – Dealer
Traditionalists contend the best way to sell finance and insurance products is one-on-one at car dealerships.
After all, they say, getting customers to buy F&I products – ranging from extended service contracts to gap insurance to wheel-and-tire protection plans – requires a skilled salesperson who highlights needs and value.
But who says the F&I manager and customer must be in the same room? Or even the same state? Indeed, early testing of alternative digital ways to sell F&I offerings includes this setup:
After selecting the vehicle they wish to buy at the dealership, customers are escorted into an office containing two video screens.
One screen is used to show graphics and videos about available F&I products. On the other screen is the person presenting the products and doing a “needs analysis” to learn customers’ driving habits (i.e. estimated annual mileage) and consequently recommend F&I products that best suit their needs.