What Does Thomas Edison Teach Us Regarding Managing F&I?
A leader among automotive consulting companies
Do you want to increase the profitability of your dealership?
When you want to be the best…
-The good news and bad news regarding experimentation and breakthrough-
Your F&I department producing, 30-50% of your net income, is critical to your success.
How do you know the F&I department is functioning the way it should?
In asking this question of hundreds of dealerships, common responses from dealers satisfied with results include:
1) We are doing better than last year on a budget.
2) We are in the top 10-20% of our brand nationally.
3) We are doing well relative to our “Twenty Group”.
This type of benchmarking is a good starting point for moving toward the current best practices, but it doesn’t get you to the best possible position. In fact, this kind of thinking prevents you from being the best.
When Edison began his crusade to develop a working light bulb, he didn’t know he would try “10,000 different ways.” He had a burning desire, which fueled him until he achieved his goal. To borrow a basketball metaphor, Edison really “wanted the ball.” Do you?
To achieve breakthrough numbers in your F&I department will take some experimentation and innovation. The thought of 10,000 tries to achieve the best is daunting — that’s the bad news about experimentation.
Here’s the good news: Having worked with hundreds of car dealerships, we can help you limit the necessary implementation to rise to the top – increasing PVR by $300 and penetration by 50% or more. We have already done the “Edison component” of the program; we just need to tailor it to your culture.
Do you really want the ball?
F&I Products That Get Results
Vanguard stays on the forefront of new F&I products to improve dealerships’ sales, profits, CSI scores and customer retention rates. We also specialize in delivering measurable business results through significant reinsurance benefits.
Profitability experts at your service
Our commitment to dealership profitability, coupled with the exceptional delivery of F&I products and services have made Vanguard Dealer Services an integral element in the success of a rapidly growing base of automobile dealers.
Contact us today to discover how Vanguard Dealer Services can enhance your dealership’s F&I profitability.
A Superior Automotive Consulting Group
Clients who choose Vanguard Dealer Services enjoy a peace of mind that can only be offered by our qualified team of retail automotive and F&I experts who stay on the cutting edge of product knowledge, legal compliance and F&I training requirements. As an automotive consulting company, we are committed to providing superior customer service, treating each customer with the responsiveness and flexibility that have come to define Vanguard Dealer Services as a leader in the automotive F&I industry.
