Popping the F&I question successfully can be tricky – even putting the entire deal in jeopardy. A vehicle service contract is a sound purchase that helps protect the customer for miles to come. But some customers might be resistant to F&I products when they infringe upon the monthly payment agreed upon.
Implementing automotive sales training that includes how to sell F&I products can dramatically change how your dealership functions. If you are struggling to get the most out of your F&I department, here are tips to get you started.
What to do Before Popping the F&I Question to Vehicle Buyers
Before you present another F&I product pitch, here are things you should do.
Provide a positive first impression. People purchase from people they trust, so building rapport must be at the top of your F&I presentation skill set. Be friendly by avoiding negative words such as “no.” Instead, offer options that can help find the most comfortable balance between your dealership’s need to sell and your customer’s requests.
Treat each customer the same, especially critical when working with credit-challenged customers. It is easy to ruin your credit score. A customer with poor credit is less affluent is a major misnomer that can cost your business. Plus, chances are that the credit-challenged customer might not have received quality treatment at other dealerships. Now is your chance to shower them with kindness and build the foundation for strong customer loyalty.
A challenging part of selling F&I products is objections, but hard work and practice can make overcoming these objections easier. The ACE strategy is a straightforward technique that helps you tackle objections and win a customer for life.
This strategy involves:
- Acknowledging the objection by offering the customer a chance to correct your perception or interpretation. This is your chance to gather more information.
- Clarifying the cause of the objection. This will narrow down the objection.
- Explaining the offer. Respond positively and reply to any concerns or objections by reviewing the benefits of F&I products pertinent to the customer. Ask for feedback so you are sure that concerns are effectively answered.
Train Your Entire Team
Leverage the sales team’s familiarity and understanding of customers to not only sell cars but also sell F&I services. The sales team is your initial touchpoint in the F&I conversation. They can expose customers to your F&I services, products, features, and benefits.
Training the service department on the same can also help improve customer service and customer satisfaction and retention. Educating service advisors creates another touchpoint in the F&I product selling conversation.
Improve F&I Sales Skills Today
These three strategies will put you on the right track towards a profitable and efficient F&I department. Which of these concepts are you using today?
The ACE Group provides essential F&I services and products that help you boost profitability. Get in touch with us today and find out how our training offers the tune-up your F&I department needs.