Auto Dealer Group Revs Up F&I Sales

Life is good:

Your focus on premium brands is paying off substantially. You’re one of the largest auto dealer groups in the nation with 120 dealerships nationwide and your strategy of selling top auto brands has increased profits faster than your competitors.

Challenger appears:

However, with the advent of online shopping, and getting $100 per unit less than your competitors, the pressure is building to enhance and streamline the customer experience. But that’s easier said than done. The Finance & Insurance Department is your customers’ biggest source of delay while it is one of your biggest sources of profit. How do you reduce the customers’ time in the dealership, while selling them more F&I products like warranties and GAP insurance?

Battle is on:

You hire Revenue Analytics to eliminate the unknowns about the F&I process and bridge the customer experience gap. We analyze more than 10 million rows of sales data on sales and over half a million of add-on products over the previous 18 months. In addition, we focus on the make/model of the car, the payment type (lease, cash, or financing), and if there was a trade in or down payment made. We utilize predictive analytics to identify “customers like you also bought this” and provide customers with fewer – but targeted – options on F&I products to buy. To top it off, all of this is dynamically priced and presented on an iPad.

You’re the hero:

Your customers have never been happier. A test program shows they’re spending less time in the dealership, and the customers end up spending more on F&I products.  The rollout to the rest of your organization reaps tens of millions of dollars in additional revenue.

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