Every dealer sells F&I products, and most dealers understand the importance of the F&I department in terms of its contribution to the bottom line. Unfortunately, F&I is not a regulated profession; meaning one doesn't need any type of state license to practice and because of that there is very little formal education available. There is plenty of sales training focusing on HOW to sell F&I products and there is compliance training as well. However, the actual management of the F&I department, product selection, and different types of participation programs are largely ignored. Most dealers, general managers, and finance managers must figure out these aspects in real time, on the job.
This book is written for the senior management team (dealer principal, general, manager, finance director, and finance manager) so they can improve profitability of their business. Setting up the finance department the right way will generate significant profit for the dealership and build generational wealth for the dealer principal. GM's, finance directors, and finance managers will benefit from understanding certain management practices while the dealer principal will gain an in-depth understanding of various participation programs such as retro, reinsurance, and dealer owned warranty company.
Max Zanan is a seasoned automotive industry expert with 20 years of experience in sales, F&l, compliance, and dealership management consulting. His goal is to help car dealers improve profitability while increasing customer satisfaction and retention. Zanan published best-selling books: Perfect Dealership, Car Business 101, The Art and Science of Running a Car Dealership, and Effective Car Dealer. Zanan is a thought leader, organizer of the Perfect Dealership Conference, keynote speaker, and frequently quoted in trade publications such as Automotive News, Agent Entrepreneur, and Auto Dealer Today.
This book highlights the importance of proper department management, reviews most common F&I products, various participation programs, and includes word tracks that will increase product penetration and profit.
This book covers the development and growth of the F&I department in the last 60 years. From its humble beginnings offering credit life insurance to the modern profit center that it is today.
This book covers the importance, complexity, and proper management techniques in order to maximize profits, employee retention, and customer satisfaction.
This book explains different types of participation programs such as Retro, Reinsurance, and Dealer Owned Warranty Company. The goal is to demystify this oftentimes confusing topic.
This book covers the history of the most profitable F&I product - Vehicle Service Contract; commonly referred to as the extended warranty.
This book reviews most popular F&I products, coverages, and benefits. It is important for the dealership to choose the right mix of products that makes sense.
This book provides effective word tracks that finance managers can use to increase product penetration and gross profit. Word tracks that are specifically designed for vehicle service contracts, GAP, and ancillary products.
Max manages to take the mystery out of reinsurance and F&I in general. The wealth-building section of the book will benefit every dealer!
This book is a must read for every F&I professional. Regardless whether you are in retail, a general agent, or a TPA, there is a ton of useful information.
Finally there is a book dedicated to the finance department. Even though I've been doing F&I for over 30 years I learned new things and will be implementing them at work.