Five Tips for Maximizing F&I Sales and Profits

Follow a process similar to a sales process on the showroom floor. That includes meet and greet, qualifying questions, a demonstration and close.

Meet the customer on the sales floor to ask qualifying questions (i.e. “How many miles do you expect to drive per year?”). This cuts down on time spent in the F&I office.

Show customers a sales video on your computer screen. “Videos are a great way to demonstrate features and benefits, and allow you to highlight six products in eight minutes.

Use an electronic menu to show the different F&I offerings and packages geared towards customers' specific needs. “Without an electronic menu, it's hard to make changes.”

Use a system. “Unless you have one, it won't get done. It will be almost impossible to sell 100% of the products to 100% of the customers 100% of the time. You tend to focus on one or two products and often the wrong products, because of poor qualification.”