When do you introduce F&I into your internet sales process?

[Jeff Kershner]

When do you introduce F&I to a new internet lead/prospect?

Is it too soon to talk about interest rates and finance in the auto-response or first response?

Maybe you don't talk about it at all (unless the customer inquires) and focus on the vehicle only.

What about an automated email coming from the F&I Manager on day 2 or 3 introducing the department and current offerings (that's what I used to do and it was semi-successful)?

Here is another question...how many of you have an F&I manager that participates in ANY way with your online initiatives and follow-up?

 

[VJnator]

I believe that will be a rare spreaded species - a F&I manager initiating in online activities...but a wonderful and in my opinion very usefull field exercise. This could be definetely a USP for your dealership to show the prospect that you and your colleagues are all pulling on the same string, and would like to do everything possible to make you welcome as an Internet shopper.

I am looking forward to see some responses were actually a dealership tried this and had success. I would certainly recommend this "endeavor" to my prior President at SONS.

 

[Alex Snyder]

I believe that will be a rare spreaded species.

that's a rare species indeed! Talking about F&I before the customer is in the box???!!! Jeff, whatchoo been smoking?

Actually, I LOVE the idea! Transparency = profit, but only if you have the right person doing it.

 

[Walt Kustra]

I agree with all of you. I see it in our department everyday. There certainly is a need for Finance to be involved in the internet sales process. We can't deny it. The tricky thing is not only deciding when its appropriate to talk about it, but also (maybe more importantly, who's going to be doing the talking. I have been kicking around the idea of possibly having an F&I person who does nothing but internet deals. Works side by side with the department to T.O finance questions and to paper and deliver these customers when they come in. Also, we lose a lot of product sales when we do deliveries to customers homes or office instead of them coming to the dealership to pick it up. We try to avoid this, but its a matter of convenience for the customer sometimes. This person could maybe do those deliveries as well and try and sell some product were currently missing out on, rather than have a driver deliver it. The problem here is you don't want to irritate or threaten your current finance manager. Obviously you would have to be sure you could support both before you cut the pie in half. My store may not be big enough to support two F&I people (Now ) but there could be some benefit to doing this in the future. If you would have told some dealers even 5 years ago the car business would be as web driven as it is today they would have threw you out the door! (None of us obviously

 

[Craig]

We have had seperate finance managers for internet customers and have gone back to finalizing all customers through 1 central finance department. We have been more profitable with all customers going through finance before delivery, however I would love to have a proactive finance team that had an internet/phone process for those customers that never make it to finance or think its a "scam" to have to visit with a finance manager.

Sometimes it's tough to balance profitability and online customer experience.

 

[Walt Kustra]

Sometimes it's tough to balance profitability and online customer experience.

Craig,
If we only could answer that question!

 

[Brent Palen]

When do you introduce F&I to a new internet lead/prospect?

Is it too soon to talk about interest rates and finance in the auto-response or first response?

Maybe you don't talk about it at all (unless the customer inquires) and focus on the vehicle only.

What about an automated email coming from the F&I Manager on day 2 or 3 introducing the department and current offerings (that's what I used to do and it was semi-successful)?

Here is another question...how many of you have an F&I manager that participates in ANY way with your online initiatives and follow-up?

Here's an answer for you. I am actually our stores backup F&I guy (in other words...the cash deal king), So as the full time ISM I can always intervene if the customer shows finance as a dominant buying motive or a question that must be addressed before moving forward. Our salespeeps who handle the leads will most generally refer the customer to our online finance app and I can provide all the answers they need from there.

I don't currently ask my salespeople to bring up financing but I think it may be a good way to stir up some dialogue and get the customer engaged.

 

[shudson]

Is is a rare occasion that an F&I person wants to be involved with any customer unless they are face to face however its true to form that the sooner they get involved the more they will make. I am fortunate to have one with me here that does not mind helping but its after I initiated the contact and/or the customer has asked for information. I find value in Jeff's question on whether an email would open a door? what could it hurt really? Maybe this email will help break down some walls that customers build to protect themselves?

 

[ghen]

Ugh, no way would I want F&I in an internet deal unless brought in by a salesman or specifically requested by a customer LOL.

 

[KatieColihan]

Personally, I did not make a habit of bringing up F&I on the first contacts whether via e-mail or phone. The important thing to do is to build value in setting an appointment. Once you bring up Prequalifications, etc. The customer is less likely to set an appointment and actually hit your showroom.