Ask a customer in the F&I office whether they want a service contract and you already know the answer. It’s no, almost always no. After spending hours at your store, they’ve finally settled on a number and now they’re looking at an unfamiliar product with another price tag.
That’s just a natural reflex, not a sign of disinterest in the product itself. New and used vehicle margins continue to shrink, which makes F&I the most direct path to profit you have left, but it can be difficult to introduce at the finish line.
It’s no secret that the vast majority of automotive customers are doing their research online before speaking to anyone at the dealership. It’s safe, convenient, and expected at this point. And that’s where the opportunity lies: introduce F&I earlier to your engaged shoppers, and that will help them feel comfortable and prepared when you’re closing the deal at the desk.
Timing Is Key
The strategy works:
67% of buyers said they were much more likely to buy F&I products if they were introduced to them earlier. That should be encouraging, as it matches how shoppers behave everywhere else during the sales journey.
Think of your average customer and how much time they’ve spent comparing vehicles, payments, and trade values before setting foot in the showroom. It’s understandable that reviewing unfamiliar products in the finance office isn’t the best solution. We’ve moved almost everything online, but F&I hasn’t seen that yet for the most part.
A Proper Introduction
Implementing a digital retailing tool like
Virtual Retailing helps shoppers explore every step of the purchase on their own terms. It’s a better customer experience, and your team receives higher-value, more informed leads.
In addition to knowing exactly what each individual is looking for from vehicle to financing terms to add-ons, all of that data is connected from sales to F&I. A customer won’t ever have to repeat themselves, and they’re able to pick up where they left off any time on their own or with you in the dealership.
With all of your dealership’s protection plans visible, the customer has time to read, compare, and think it over with zero pressure. When they’re sitting with your finance manager, they know exactly what to expect. Or better yet, they’ve already selected and committed to a product and all that’s left is a signature.
Educate Early and Sell Smarter
Thinking about how to be more persuasive in the F&I office isn’t going to change a customer’s mind that’s already made up. They’re not stubborn, they’re just overwhelmed.
A customer who has already read about a product signals curiosity, interest, and a willingness to engage. They’re more ready to have conversations and learn more, so making your F&I offerings more accessible earlier on will pay huge dividends as you close the deal.
Ready to see how Virtual Retailing helps you generate better leads and close more deals? Book a demo
here.