Don’t Let Your F&I Department’s Blown Fuses Blow Your Profits

My friend’s older home pops circuits whenever too many appliances are drawing amperage together at one time. Plug in the toaster and the wife’s hair dryer quits. Run a power drill and the sump pump fuse kicks out.

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CFPB and F&I eMenus

New fair lending requirements that affect automobile dealerships were issued by the Consumer Financial Protection Bureau (CFPB) last year. While these requirements directly address lenders, the CFPB views automobile dealerships that arrange for and sell credit to vehicle purchasers as indirect lenders.

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5 Ways to Get More From F&I Departments

Few dealers truly are satisfied with their finance and insurance department’s performance.

Yes, many F&I managers post solid performance numbers. Still, many dealers share a nagging hunch that with a little more oomph, their F&I departments could do better.

Fact is, this hunch is true. Most F&I departments can boost their per-vehicle-retailed and aftermarket-product penetration. It happens every day where F&I staffers train as athletes do for the championship.

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Building Bigger F&I Muscles

Every one of us wants instantaneous gratification — whether the desire is six-pack abs, weight loss or increased business profits. Yet, as every businessperson knows, good results are the fruit of a committed, well-planned endeavor. No one builds muscle, loses weight or improves F&I performance if they aren’t committed to work a plan that replaces harmful or ineffective habits with practices that will help achieve their goals.

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A Menu Lesson from Panera Bread

Panera Bread Co. has a unique menu system. One menu is the normal-type from which guests choose their purchases when visiting the restaurants. The other is a secret menu, available only to those in the know through social media, who then pass a secret code-like whisper to the order-taker at the store.

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Build Bigger F&I Muscles Fast

Only committed consistency to best practices boosts PVR and penetration

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How Cloud – Based F&I Menu Systems Boost Service Contract Penetration 33 % & Dealer Profit Per Vehicle Sold ( PVR ) 27%

Dealerships like yours are boosting service contract penetration 33% and more and PVR 27% when using cloud-based F&I menu software to achieve repeatable business practices on every transaction.

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2nd Annual F&I Week: Free Online Conference

The proliferation of smart phones and tablets opens up possibilities and risks for dealerships seeking to connect with tech-savvy consumers. Get a state-of-the-union report on the ties between F&I and mobile technology, as well as an overview of emerging compliance issues. In addition, learn some best practices for mobile and tablet apps while gaining insight into how young consumers are embracing this technology – and what it means for dealers.

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MaximTrak Certified for Integration with Reynolds and Reynolds ERA ® Dealer Management System

MaximTrak Technologies, a leading systems developer for the retail automotive, motorcycle and powersports finance and insurance industry (F & I), today announced that it has been certified for integration with the Reynolds and Reynolds ERA® Dealer Management System (DMS) through the Reynolds Certified Interface (RCI) Program. The certification allows MaximTrak to retrieve data from a dealer’s Reynolds ERA DMS using standard data interfaces developed as part of the RCI Program. These interfaces help ensure dealer information security, privacy, confidentiality, integrity, and supportability.

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MaximTrak Announces Steady Growth, Success with Web-Based F&I System; Launches 385 Dealers in First Six Months 2011

MaximTrak Technologies, a leading systems developer for the retail automotive, motorcycle and powersports finance and insurance industry (F & I), today announced that in the first half of 2011 it experienced unprecedented demand for its fully integrated F&I Menu System, and launched 385 dealers. The company attributes its growth to current market conditions and the fact that dealers using its web-based F&I Menu System are routinely seeing results of more than $200 additional profit per vehicle sold and a 35%-45% lift in service contract and GAP revenues.

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