The Car Sharker takes a different approach when it comes to F&I training. Our training starts with identifying the sales department’s issues with the F&I department. The story is usually the same in all stores: “the finance department takes too long.” We lower the burden on the finance department by properly training the sales department, including giving a basic overview of the finance process and the necessity of preparing paperwork thoroughly in order to avoid delays. The finance department doesn’t have much control over lender timing so internal time savings are critical.
If the sales department’s process gels with the F&I’s process, it’s like a well-oiled machine and everyone makes money. Communication with both departments is usually all it takes to tweak changes in a finance department. Most salespeople don’t understand today’s difficulties in an F&I department.
Finance managers should host sales meetings periodically. It’s important for the finance manager to explain their wait times and ask how they can assist the sales department to make everyone’s jobs easier. Those meeting shouldn’t be a beat down; they should be positive and up lifting.
Sharing responsibility for assisting subprime customers with both departments helps the processes and makes a more professional atmosphere for customers. It’s remarkable to see sales increase just by encouraging shared responsibility.
The finance department has a huge reasonability. They are pushed and scrutinized by salespeople to get their deal done fast. It’s up to the desk guy and the closer to reduce conversations between the salesperson and the F&I department. Finance managers should have the up most respect for a salesperson. Under no circumstance should an F&I manger think their job is more important than a salesperson’s job. F&I managers tend to get jaded in their position. A manager should never take their frustrations out on a salesperson. The salespeople are the backbone of the dealership and if a salesperson doesn’t bring a deal to the desk, then nobody makes money. Dealerships have no place for rude finance managers. A good F&I manager is always on their game. They should be able to multi-task and keep a smile.