SpinCar is looking to give dealers another education tool to benefit their F&I sales strategies.

During NADA Show 2020 in Las Vegas, the digital automotive merchandising software provider launched an F&I merchandising solution designed to integrate directly with dealer website vehicle detail pages (VDPs). SpinCar explained F&I Advantage can enable dealers to increase F&I sales by educating consumers and creating demand for vehicle protection, warranty and insurance products before shoppers arrive at the dealership.

The firm indicated F&I Advantage is designed to be a specialized digital merchandising product that can be seamlessly added to VDPs on any dealer’s existing website. By highlighting available protection, warranty and insurance offerings directly on the VDP, SpinCar said dealers can educate shoppers on the benefits of these products early in their car shopping journey.

SpinCar indicated F&I Advantage can build shopper confidence with easy-to-understand explainer content, infographics and videos. Educational content is currently available for all major categories of F&I products, including vehicle protection and extended warranties, service contracts and prepaid maintenance plans, supplemental insurance, roadside assistance and more.     

Why does it matter? SpinCar cited information from the National Automobile Dealers Association that indicated F&I product sales can account for more than 50% of a dealership’s new- and used-vehicle gross profits. However, SpinCar acknowledged traditional “end of the process” approaches to selling these products can leave consumers feeling confused and pressured.

“Because the majority of consumers don’t fully understand F&I offerings before they walk into a dealership, most feel ill-prepared to make purchase decisions,” SpinCar said.

F&I Advantage can streamline the post-sales financing meeting by equipping consumers with knowledge that can allow them to make faster and more confident buying decisions, while enabling dealership business managers to save time and personalize their conversation.

One user shared what SpinCar’s newest tool can do. Casey Tuggle is chief marketing officer at the Kelly Auto Group in Chattanooga, Tenn.

“We recognize that better F&I product merchandising before the sale improves product penetration, but until now we have struggled to find the right solution,” Tuggle said in a news release.

“We love SpinCar’s approach as our products are introduced during the customer’s feature exploration phase, which has led to a 19% increase in F&I penetration. It’s the perfect time to get customers acquainted with the value of additional protection for their purchase,” Tuggle continued.

SpinCar recapped how F&I Advantage is designed to work.

Powered by SpinCar’s personalization platform and rich multimedia library of F&I educational content, available aftermarket protection and insurance options are automatically presented to a consumer through several different entry points on each VDP. Product offerings can be tailored based on inventory type, make and mileage.

Once configured by the dealership’s F&I manager, relevant content is populated for a dealer’s entire inventory of new, used and certified pre-owned vehicles. Online shoppers who visit those VDPs are able to access F&I content while they browse a dealer’s website from any PC, tablet or mobile device.

A report detailing each consumer’s interactions with the rich content is then sent to the F&I manager, allowing them to customize their in-dealership product review discussion.

“Digital technology has been rapidly changing every aspect of the auto sales process, and F&I is no exception,” SpinCar co-founder and chief executive officer Devin Daly said in a news release. “The most profitable dealers have known for years that introducing dealership visitors to F&I products earlier in the sales process drives higher attachment rates, but until now they haven’t been able to extend their efforts to shoppers browsing their online showroom.

“F&I Advantage provides a powerful digital merchandising solution that enables dealers to reach consumers even earlier in their shopping journey, resulting in greater sales of these high-margin products while at the same time delivering a better experience for consumers,” Daly went on to say.

More details can be found at SpinCar.com.