We are excited to announce the addition of Doug Fiore, who will add development expertise under the title of 'Retail Operations Specialist'.
“Doug has spent over 30 years in the automotive retail environment, with the bulk of that time spent training and developing front-end retail operations,” says Randy Crisorio, UDS President. “Adding the wide scope of knowledge Doug brings, including advanced technology, further enhances our ability to deliver on our value proposition,” adds Crisorio.
Doug has enjoyed a highly successful career where, after spending more than a decade on the retail side, he transitioned to the service side. He has led development teams in the F&I space, both with independent and factory providers, and ultimately branched into lending and, most recently, technology processes, as the National Desking Manager with Route One.
In keeping with the F&I Performance objective of UDS and the importance of desking to delivery, Doug will have a wide-ranging interaction with UDS Dealer Partners throughout the Southeast.
We at UDS always have our eye on F&I growth opportunities. Whether it be a pricing strategy, product addition, incentive or process change, routine analysis of your business and adjustment recommendations is what we do in the name of overall performance. What we have noticed recently is a shift away from some established profit opportunities, namely bundled products (Allstate Complete Protection) and vehicle service contract after-sales (GWC Warranty).
Let’s look at VSC after-sales first. While not easy to excel in this realm, it is very rewarding. Think about how you spend your downtime each day. Hopefully, it consists of some self-training, sales floor visibility and the like. Beyond that, it should involve walking the service waiting area and talking with customers. A simple conversation with a customer about why their vehicle is in service can lead to an opportunity to discuss a vehicle service agreement (or other valuable protection products). You can also open dialogue with your service advisor team so that they understand what is available to your customers. Share with them what the ideal candidate might look like and offer an incentive for them to get you involved when one of those customers presents himself. Finally, you should maintain a hitlist of customers who were on the cusp of purchasing, but ultimately chose not to at time of delivery. Take a few minutes to give them a call, ask how their first week has been in their new vehicle and inquire again about the protection plan. Sure, there are more ways than those three listed to cultivate additional sales. It just takes a bit of effort and creativity. The result could lead to an additional 10-20 vehicles service contract sales per month. How would that impact your overall performance values, and more importantly, your income.
Next let’s take a look at the Allstate Complete Protection program. If you're missing the gross - you're missing the boat. The Allstate brand itself has power and screams credibility. The ability to offer multiple coverages on a single contract is as efficient as it gets, saving valuable time. The simplicity of a single form allows for a streamlined conversation with your customer giving them the opportunity to easily select the coverages they want at the price point that fits. What’s the drawback as an F&I professional? We couldn't think of one either! The Allstate product likely has more coverage and profit than each coverage component broken out on its own contract. While we believe this product has merit on any menu and with any deal type, make it your go-to on all lease deals and begin realizing the potential of Allstate Complete Protection.
Contact your UDS representative to tell us your story.
Good Habits Are Always Good.
Getting off track in F&I can be as easy as 1,2,3.
We're starting to see some bad habits developing in F&I offices recently and they are: Short-cutting the F&I process, losing focus on compliance and allowing contracts in transit to become a problem. Let's examine each.
Bad Habit 1 – Shortcutting the F&I Process
Shortcutting the F&I process can mean different things depending on your dealership and your situation. Many F&I managers are skipping any kind of an interview or conversation with the customer prior to bringing them into F&I. The “just bring them in” mentality isn’t good for the customer and it isn’t good for F&I. Make time to get out of your office and talk to your customers every time, no excuses.
Bad Habit 2 – Losing Focus on Compliance
Compliance is as important today as it has ever been. Based on some of the recent fines handed out by the FTC and other agencies, the following are at the forefront of regulatory scrutiny; Compliance Process, securing Personal Information and Network Security. Get out of your office and look at your dealership with fresh eyes. Better yet, look at your dealership as if you were paid $10,000.00 for every violation you could uncover, that is how regulators will look at it.
Bad Habit 3 – Letting CITs Become a Problem
Inexcusable. Business is never so good that we should tolerate laziness in collecting money. Usually a CIT problem in a dealership is an indication of a bigger problem, the lack of accountability.
If mangers are participating in a structured daily Save-A–Deal meeting, how could you have a sustained CIT issue? Trick question: How often should you have a daily Save a Deal meeting?
Check your habits, getting back on track can be as easy as 1,2,3 as well.
Contact your UDS representative to learn better habits.
Mark your calendars! Our next award-winning F&I Certification program will be held at UDS' Training Center the week of: March 4-8, 2019
This session is designed to create the next generation of qualified F&I professionals. Perhaps you have a current manager that has never been through a formal F&I School, or you are in need of a qualified backup – this is the school for them!
For over 36 years, UDS has been a market leader in F&I Training and has been voted top F&I Training Provider in the nation for the past 14 years.