Your F&I department is ever-changing, and it is important to stay ahead of the game. You need the knowledge, the familiarity, and the skills from experience. You need to keep abreast of the latest developments and industry trends that keep the finance & insurance department healthy and successful.

No matter what the changes to the industry, or your own dealership, there are a few core ideas that build a successful F&I department.

1. Product Knowledge

The foundation of any successful F&I manager is understanding your products. If you want to build trust with your customers, you need to be well-versed in the specifics of their products and present the benefits accurately, enthusiastically, and passionately. You need to be confident in what you are presenting and even more confident that you will get the "Yes".

Don's just flip through your provider's brochure and try to sell the "short and sweet" version -- know it inside and out so you are prepared for any questions. Review product contracts frequently and highlight those areas that seem the most significant features and benefits to your customers.

2. Preparation

How are you presenting to the customer? The most successful business managers present options to their customers the same way EVERY TIME. Like an actor with a monologue, they have a prepared script that they can flow through and deliver with ease EVERY TIME. They have prepared themselves to answer any question in a clear, concise, on-point manner without any hesitation. Good preparation keeps you cool under pressure. Practice and repetition help you project confidence and enthusiasm that will keep your customer intrigued and at ease.

3. Commitment

We are talking about a long-term, day-to-day effort here. Business managers have a lot of responsibilities and it easy to get discouraged sometimes, but everyday needs to start with enthusiasm and an expectation of success. Don't sell yourself short before the day has even begun.

Commit yourself to excel in the business. Commit to being prepared, knowledgeable and energetic. Be creative and smart, as well as honest, ethical, and transparent in every deal, every day. Be the person customers are going to look for when they come back in 2 years, 5 years, and 10 years.

Dealership Development, Inc. has been a leader among automotive consulting companies since 1989. Providing automotive consulting, dealership training and F&I products and services, we are here to guide your dealership into ever-higher realms of success.