GWC Warranty offered four suggestions to help vehicle deliveries from disintegrating at the point when F&I products are offered to the customer.
The company insisted that dealers know a vehicle service contract is a sound purchase that will help protect that customer for many miles to come. But “when F&I products infringe upon the monthly payment they’ve already agreed upon,” GWC Warranty said in a blog post on its ongoing training endeavor Accelerate, “the sticker shock that customers feel when you try to add on these products can sometimes be enough to put a deal in jeopardy.”
To keep that metal moving, GWC Warranty recommended that dealers train their staffs to begin building value in these F&I products throughout each phase of the buying cycle. Here are four tips the company noted that can sell F&I products without ever entering the finance office:
1. Enroll in a certified pre-owned program
“With collateral for your advertising, your lot and more, a strong certified program can differentiate your business in part due to the extended coverage you’re offering,” GWC Warranty said.
2. Advertise the coverage you offer
If you’re using a certified program, dealer can highlight this availability with a logo on each online vehicle listing.
“You can also discuss included coverage on your website or in other advertising such as print or digital,” GWC Warranty said.
3. Utilize point of sale
Items such as mirror hangtags, window clings, floor mats, glove box hangers, and anything else dealers can put on a vehicle to advertise that the store offers extended vehicle coverage can help get the conversation started.
“In many cases, if a customer is asking you about a vehicle service contract, they’ve already bought the car in their heads,” GWC Warranty.
4. Work it into your sales discussion
As you’re selling a vehicle, GWC Warranty mentioned that dealers likely are already talking about four-wheel drive, fuel economy, vehicle history reports and more.
“Tack on a quick point about the extended coverage you offer,” the company said. “Explain that while you inspect all your vehicles to ensure they’re in top working order, the reality of buying a used car is that they are more likely to experience a mechanical failure.
“It’s important to avoid out-of-pocket expenses with back-end products like a vehicle service contract,” GWC Warranty added.
Editor’s note: This post and more can be found at GWC Warranty’s blog Accelerate that’s available here.