Findlay Automotive Group

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Presentation transcript:

Findlay Automotive Group Tyler Corder CEO / CFO Findlay Automotive Group

THE F&I BALANCING ACT

My Perspective GMAC - Findlay Automotive

Sell Value-added products Our Goals for F&I Complete the deal Sell Value-added products Enhance Revenue Legal disclosure Speed cash flow Create a happy buyer

Newsflash: CSI is a Sham!

The Perfect CSI Survey Would you buy from this dealer again? Would you recommend this dealer to others?

Why is F&I Revenue so Important to Dealers? Declining trend in service revenue Increased facility costs - upgrades Vehicle profit margins declining

Finance Reserve Are flat fees a better alternative?

F&I Payplans De-emphasize finance reserve Please – no outside incentives!

Strategy: Limit Product Offerings How do we select what we offer: Limited number of products Value to Customer Does it return the buyer to the dealership?

F&I Professionalism Proper selection of personnel Training! Know the contract Know the law Know the products Sell the benefits

Compliance – What’s changed? Bad Apples Information Age Litigious society Government regulation

Findlay’s Compliance Program Group Finance Director Zero Tolerance Training Program Product Menu Compliance Audits

Final Thoughts Is it good for the customer? Character should drive our actions Leadership sets the business ethics