- May 31, 2021
- 3
- 1
- First Name
- Karna
Hi all, first time poster long time lurker. 
Let me start off by saying these forums have been an absolute godsend for the greenest noobie to the auto dealer game.
I was wondering how more experienced dealers efficiently and quickly get loan terms in front of customers once they are in the F&I office. I'm in a suburb of a major city in the South and for the credit unions (all 2 I have relationships with...), the process is really slow: emails, snail-mail, phone calls (if someone actually picks up) to get financing schedules, etc. The banks near me a little better, but not much. I feel like I'm losing out because I'm not offering competitive rates and because it seems super costly to have my F&I personnel chasing loan information all day.
Is this a problem I can throw better tech at (people have talked about DealerTrack or CDK but this is all Greek to me)? Or am I doing something wrong in terms of process? Most customers in my area are pretty well banked and often have arranged financing already (which most of the time matches what I could offer) but it seems like if I could improve this piece I would have a lot more dropping to my bottomline.
Any advice / guidance is most welcome!
Let me start off by saying these forums have been an absolute godsend for the greenest noobie to the auto dealer game.I was wondering how more experienced dealers efficiently and quickly get loan terms in front of customers once they are in the F&I office. I'm in a suburb of a major city in the South and for the credit unions (all 2 I have relationships with...), the process is really slow: emails, snail-mail, phone calls (if someone actually picks up) to get financing schedules, etc. The banks near me a little better, but not much. I feel like I'm losing out because I'm not offering competitive rates and because it seems super costly to have my F&I personnel chasing loan information all day.
Is this a problem I can throw better tech at (people have talked about DealerTrack or CDK but this is all Greek to me)? Or am I doing something wrong in terms of process? Most customers in my area are pretty well banked and often have arranged financing already (which most of the time matches what I could offer) but it seems like if I could improve this piece I would have a lot more dropping to my bottomline.
Any advice / guidance is most welcome!
