F&I & Technology have changed a lot over the past 10 years.
In-dash navigation systems have become the norm. The same is now happening with Wi-Fi.
A decade ago, every vehicle was being made with airbags for the driver and passenger. Now, many vehicles have more spread throughout the interior, plus safety features like blind-spot recognition, collision warning systems, and other computerized options that keep accidents from happening in the first place.
The list goes on and on.
Understandably, these technological updates have also changed the way dealerships sell these vehicles. Among other things, it means improved F&I for the technology in these newer vehicles.
F&I for the Technology in New Cars
The good news is that F&I for the technology in new cars represents greater opportunities for dealerships. In short, the more complex a vehicle is, the greater the potential there is for profit.
Plenty of standard vehicles across different manufacturers now sport enhanced electronics that should be considered by your F&I department.
Some examples include:
- Global Positioning System (GPS)
- Heads-Up Display (HUD) Projector and Display Module
- Connect Mobile Apps (Bluetooth)
- Adaptive Cruise Control
- Lane Departure Warning
- Rear Cross-Traffic Alerts
- Automatic Emergency Braking
- 360- Degree Cameras
- Electronic Stability Control
- Tire Pressure Monitors Systems (TPMS)
- Adaptive HID Lighting
- Blind Spot Monitoring
Furthermore, high-tech vehicles are now available in nearly every price range. So, no matter what kind of market your dealership serves, it’s important that you offer plenty of different types of F&I for this technology. Failing to do so means leaving easy profits on the table. It could also mean losing these potential customers to dealerships that do have their F&I needs covered.
Is Your Dealership Taking Advantage of F&I for Technology in New Cars?
F&I and high-tech tools have always gone hand-in-hand when it came to driving greater profits.
However, over the past 10 years, the F&I products that are really increasing profits for dealerships are those that address the advanced-technological components of newer vehicles. Customers want these kinds of automobiles, but they also want the peace of mind that comes from knowing their sufficiently protected, as well.
At the ACE Group, we specialize in not just offering F&I products to dealerships like yours but even offering the kind of training required to boost profitability and customer satisfaction. Contact us today to learn about all of the ways we can serve your dealership’s unique needs.