OCTOBER 26, 2017

F&I is one of the most important departments and biggest profit centers in an auto dealership. The WardsAuto F&I Resource Center keeps F&I professionals up to date with the latest trends and best practices so they can perform their jobs more effectively and profitably. Visit the F&I Resource Center regularly to stay on top of your game.

Many Vehicles Still Wear Front 'Bras'; You Just Can't See Them

If you haven’t lately seen a vehicle wearing a front-end protective bra, as the street once called them, it’s not that they’ve disappeared. It’s that they’ve gone clear and almost invisible. Commonly referred to today as “clear bras,” it now consists of a film applied to the forward-facing surfaces of the hood, fenders, lights, bumper and often door edges and other vulnerable areas to protect against paint chipping, pitting and related damage, says Kevin Iden of Iden’s Dealer Services.

How Equifax Data Breach Affects Dealers, Customers

The recent Equifax data breach potentially affects car dealers and their customers. Equifax, one of three nationwide credit-reporting agencies that track and rate consumer financial histories, says the breach compromised information from as many as 143 million people in the U.S.

Educating Rather Than Hard-Selling Connects With F&I Customers

More customers buy vehicle-service contracts and are happier doing so if car dealers educate rather than hard-sell them when presenting finance and insurance products, says Ally Insurance President Doug Timmerman. “If you take an educational approach in the sales process, you’ll be the most effective and the customer experience will be optimized as well,” he says.

Used Car Leasing: An Idea Whose Time Has Come…Back?

A recent AlixPartners report probably confirmed what auto retailers suspect about the effects of millions of off-lease vehicles hitting the market. The report predicts a “double-whammy” to new-vehicle sales: displaced sales to cheaper used vehicles and increased lease payments on new vehicle, because leases will get written with anticipated lower residual rates and tighter credit standards.

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