Every dealership’s training protocols differ slightly.
However, every dealership has an F&I department, the members of which require specific types of training.
So, while your business is certainly unique, there are still some F&I training tactics that you absolutely must implement in order to remain in compliance and far from the risk of legal trouble.
3 F&I Training Tactics to Implement Right Away
Fortunately, there are only three F&I training tactics that you absolutely must keep in mind in order to keep your dealership on the right side of the law and in your customers’ good graces.
1. Keep Technology Front-and-Center
Without a doubt, it’s essential that your F&I team members understand the actual products they’re offering. They need to learn that ethics and compliance are of the utmost importance to what they do, as well.
That said, dealership technology is also growing in importance. This is especially true in F&I departments where these kinds of tools are vital for illustrating the value of different products and creating customized packages.
As such, be sure your F&I training places plenty of focus on integrating the latest F&I technology into every sales presentation. Doing so will also help reduce the occurrence of human error, which is a great way to keep your dealership in compliance.
2. Pair Up New Members with Department Veterans
It’s common for those who are new to F&I to be a bit nervous when they first begin working with customers. Aside from how important their job is to the dealership’s long-term success, they also need to be careful about abiding by all the current regulations.
This is why successful dealerships usually pair up their new members with F&I professionals who have been doing well in their role for years.
It’s one of the best ways to help rookies get over their nerves. This arrangement will also show them how a successful team member closes deals again and again while checking all the right boxes as far as compliance is concerned.
3. Turn Training into an Ongoing Practice
Finally, turn training into something that happens on a reoccurring schedule, not just when new members join the team.
This means that every member should regularly go through training sessions to ensure their knowledge hasn’t suffered over the years.
Obviously, training sessions should also be held for the whole team whenever the FTC updates their rules for automobile dealerships.
Want Help Putting These F&I Training Tactics into Place?
Complying with FTC regulations is too important to leave to chance.
That’s why so many dealerships from across the country come to us for assistance implementing the three F&I training tactics we just covered. Contact us today to learn more about how we can help.