F&I INTERVIEW PROCESS

1. F&I INTERVIEW PROCESS

2. When you shortcut the process you shortcut your profits!!

3. F&I SALES PROCESS Greet the Customer at the Sales Persons Desk Base Statement Customer Interview certifying personal information, confirming the numbers, verifying insurance and reviewing customer credit history. Needs Awareness Graph Presentation Menu Disclosure Objection Handling Reclose Print

4. The menu is simply a legal disclosure. This disclosure is an explanation of benefits that the customer has to know that they need.

5. The Greeting and Base Statement

6. GREET THE CUSTOMER AT THE SALES PERSONS DESK “My name is __________ and I am the Financial Services Manager here at (Dealership). I have 3 responsibilities: to answer all of your questions, assist you with your funding needs and get you out of here as quickly as possible. May I join you?”

7. “How has your experience been so far?” “As I said before I am going to answer any questions that you have regarding the titling of your new vehicle and I am going to make sure that we take care of the manner in which you choose to handling the financial arrangements. We have options that are easy, convenient and available to almost everyone. It is my job to make sure that you have all the information you need to make a good decision. Our time together should take no longer than 45 minutes.”

8. The Customer Interview

9. Why do an Interview? Prescription without diagnosis is malpractice.

10. I want to review your credit application and certify that all the information is true and correct. We are going to discuss some things that are personal and legal in nature and I want to be respectful of your privacy. Would you like to follow me to my office?

11. Is this the correct spelling of your name, for titling purposes?

12. Is this the correct titling address?

13. Margaret Jones …and in the event of your death who do you want to get the free and clear title? (Write it on the top of the form)

14. Margaret Jones You have been at your address for ___ years and how many months?

15. Margaret Jones As you probably know most lenders require at least 5-years residence history.

16. Margaret Jones Your current occupation is… and you have been there for ___ years. Is this correct?

17. Margaret Jones Of course the lenders also require at least 10 years of employment history. How many employers will that be for you?

18. I need the name, address and phone number of your closest relative that doesn’t live in your home.

19. This is your monthly income…is this before taxes or after? Is it verifiable?

20. Is there any other income or cash value life insurance that could be used to repay this loan?

21. Margaret Jones How much of your income do you get if you become sick or injured and unable to work? The bank’s gonna want to know.

22. Margaret Jones It says here that your monthly mortgage payment is ____. Do you have a 2nd mortgage? Do you make your mortgage payment monthly or bi-weekly?

23. Margaret Jones We’ll need a bank reference. Where do you bank? Do you have checking and savings accounts?

24. Margaret Jones What is your average daily balance in your checking account? Savings account?

25. “The next thing that I want to do is to confirm the numbers that you have agreed to…” If the numbers are not correct you have to STOP. Protect the sales person and CSI, get a manager involved and be considerate of the customer’s feelings. “These are the numbers that you agreed to, these are the fees and this is your down payment of $____ (vocalize down payment) dollars.” “Does everything look okay?”

26. “It looks like you are purchasing a _____- in the ______ color and your new vehicle has approximately ____ miles.”

27. “You are replacing a _______ with _____ miles. Is that correct?”

28. “Does your vehicle have any major damage or just your basic dents and dings?”

29. “I notice from your vehicle appraisal that you only had one set of keys? Did you just bring the one set with you or is that the only set that you have? I only ask because with the high cost of cutting and programming another key and remote, your vehicle might have been worth several hundred dollars more.”

30. “Did you do your maintenance at your dealer? If it was cost effective you would have to consider doing your maintenance here, wouldn’t you?”

31. “Were you the primary driver? Did you buy that vehicle new or used? How long have you had it? Based on your current mileage you are driving _____ miles per year. Does that sound about right?”

32. “These are the figures you’ve agreed to and this is your down payment leaving this as your unpaid balance.”

33. “Before we review your credit bureau for accuracy, would you say that you had good credit, bad credit or like most of us, somewhere in between?”

34. FSM: Make sure that you have a copy of your manufacturers owners manual.

35. “As I told you, one of my responsibilities is to make sure that you have a complete understanding of your manufacturers warranty. Your going to get a survey from (Manufacturer) asking about your experience today and I need you to be able to answer every question ‘Completely satisfied’. Did your salesperson go over your factory warranty with you? What is your understanding of your factory warranty?

36. As you’re talking to your customer, start drawing your graph on a blank piece of paper…

37. …the customer will either tell you that it is “bumper to bumper”, that their sales person didn’t tell them about their factory warranty or both…

38. Write on the graph their expected time of ownership and total number of miles they will drive in that time…

39. At the point where their warranty will expire, either miles or time, make a box and write the word “Covered”. In the space remaining write “Not Covered”.

40. (Writing as you speak) “You are exactly right, your warranty is bumper to bumper and roof to road and if you ever have a claim it’s a $0 deductible, so there’s no money out of your pocket.”

41. Write the word “TIMKER” down the left edge of the graph. Under the letter “T” write the word “Tires”…

42. Turn to the appropriate page in the warranty guide regarding “What’s Not Covered” and under “Tires” read the customer what it says…

43. Beside the “I” write the word “Inconveniences” and beside the “M” write the word “Maintenance”.

44. “Also the ‘I’ stands for ‘Inconveniences’ meaning a rental car if your repair isn’t covered, travel expenses if your vehicle breaks down away from home, etc…and ‘M’ is for ‘Maintenance’. How do you typically maintain your vehicles?” (Write down what they say…”Oil changes, tire rotations”…)

45. Show the customer in the warranty manual under “What is Not Covered” what it says about “Maintenance”….

46. Beside the “K” write the word “Keys”, and beside the “E” write “Environment” and beside the “R” write “Road Hazard”.

47. While you are turning to the appropriate page in the owners manual say, “The ‘K’ stands for ‘Keys’. Have you ever had to replace a key or a remote? Between the cutting and programming, they are very expensive, aren’t they?”

48. Show the customer in the warranty manual under “What is Not Covered” what it says about “Environmental Conditions”….

49. …and what it says about “Road Hazard”….

50. Say, “Now let’s talk about what the manufacturer means by the word, “Limited”…