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The Transition From The Sales Floor To The Finance Dept

Does your dealership have a process in place for a quick transition from the sales floor to the finance dept?  Are your customers waiting for a hour or more to get into the finance office?  Does your F&I producer come out to meet the customer before the consumer get's to his/her office?  Ladies and gentleman I could go on and on with questions that I talk about with automotive managers and what we find is very concerning.

First, the transition from the sales floor to the finance office should be seamless.  I was in a Toyota store a little while back and they had what was called a finance lounge.  Now the goal with their finance lounge was to remove the customer form the sales floor over to a much more comfortable lounge so that while they were waiting to get into the F&I office they could begin the process of getting logged into the Toyota system database.  It is a very upscale lounge with Ipad's at each chair and snacks if someone is hungry.  Now unfortunately most dealerships have a completely different process in place and it's as follows: the customer just agreed to purchase your vehicle and now they have to sit in those hard chairs and round table for the next hour while they wait to get into finance!!  What do you think most of these people are doing while waiting to go to finance; they're talking about how maybe we're moving too fast we didn't plan on buying today, let's get on our smartphone and see how much the car we just bought is down the street or even worse after a hour of waiting you go to get your customer and they're gone!!  For the love of God this is not what people want to deal with after they just made the next biggest purchase next to buying a home.

Consumers after they give us their business need to be in the F&I office as quickly as possible.  Another brillant strategy is to have the F&I producer get out of his/her office and come out to the sales floor to meet the customer for a interview to build some rapport and gather field intelligence.  What this does is make the process much easier when you present a menu to sell products.

In this day and age the old school way of doing business has to change.  Their is too much money on the line to take the chance of conducting business as usual.

Views: 307

Tags: Batchelor, F&I, J.R., auto, dealership, dept, finance, menu, products, sales

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Influencer
Comment by J.R. Batchelor on May 4, 2013 at 5:48am
Yes Subi for instance if its a new car sale like a Ford for instance we can take the customer over to a computer to begin the sync my ride registration. This process can take up to 30 min and is one way of many to utilize the down time before the customer reaches finance.

Influencer
Comment by Subi Ghosh on May 3, 2013 at 9:26am

I'm actually working on coming up with something now to expedite the process and get some buyin from both departments. Any best practices I can use? I LOVE the idea of "delivering" the vehicle before Finance!


Influencer
Comment by J.R. Batchelor on May 2, 2013 at 5:21pm

Lawrence that is a great way to keep the customer busy versus sitting around.  You're a rockstar!!


Influencer
Comment by Lawrence Wittrock on May 2, 2013 at 4:09pm

I always used this time to "deliver" their new vehicle. This gave me a chance to re-sell it, and over-come any purchase anxiety. Plus in the typical 30-60 minute time delay on a weekend, I could do a fairly good job of showing the GPS operation, and all the tech features. If there was a further delay, I went thru the "books" and pulled the extra keys. No-one wants to spend that much time on a delivery after Finance: Not sales and certainly not your customer. So this really was a benefit to both of us.


Influencer
Comment by J.R. Batchelor on May 2, 2013 at 1:12pm
Yes David that is a valid point however, I've seen stores that have staff prepared for not just the slow days but also the 40 car Saturdays...
Comment by David Ruggles on May 2, 2013 at 9:50am

The dealership's plan for a seamless F&I transition works a whole lot better when business is slow.


Influencer
Comment by Roosevelt Gist on May 2, 2013 at 7:12am

@J.R. Forgot to mention that I did stress with dealer we were not going to make this an all day process.


Influencer
Comment by J.R. Batchelor on May 2, 2013 at 7:07am

You got lucky Roosevelt I've seen customers wait over one hour...

 


Influencer
Comment by Roosevelt Gist on May 2, 2013 at 6:23am

I was recently in a Nissan dealer with a friend of mine that bought a Murano. After the sale the F&I manager did come out and greet us. But, we were still left to mingle in the showroom for approximately 30 minutes.

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