Tips for Salespeople to Help F&I Managers

Let’s be honest with ourselves. Going into “the box” is what most customers despise most about buying a car. So what can we do to improve their experience and lower their anxiety? Communicate! I also want to make it clear that you should always run process changes past your manager. Regardless of how good an idea may appear to you, possibly disrupting your dealership’s established processes is the opposite of what I’m trying to help you with. Make sure your manager is on board with you trying something new.

F&I Manager Success Equals Salesperson Success

In the fast-paced world of car sales, the collaboration between salespeople and F&I (Finance and Insurance) managers is crucial for maximizing dealership success. F&I managers play a pivotal role in securing financing and offering essential products like extended warranties and GAP coverage to customers. However, over my last 10+ years in auto, one thing I’ve seen to be all too common is the awkward or clunky handoff from a salesperson to a finance manager. I’m going to provide some practical tips for salespeople to help their F&I managers thrive, helping ensure a smooth customer experience from start to finish.

Why Support Between Sales and F&I Matters

Supporting your F&I manager isn’t about easing their workload (although I’m sure they like that part); it’s about giving your customers the best experience possible. We can do this by creating a cohesive environment where everyone keeps in focus what is most important: the customer! When salespeople and F&I managers work together seamlessly, customers receive better service, which leads to higher customer satisfaction rates, more repeat customers, and increased dealership profitability.

Tips for Salespeople to Assist F&I Managers

1. Educate Yourself on F&I Products

• Role Play: First things first, you need to know what in the world happens in “the box” and there’s no better way to do it than role play. While you may have experienced it as a customer, understanding the “why” of what happens is crucial. You can learn some of this from video training but understanding exactly how the managers at YOUR store do it is the best option. 
• Product Knowledge: Familiarize yourself with the F&I products offered at your dealership and which ones your F&I Managers lean towards. They all have two or three products they are most comfortable with. This allows you to confidently address any preliminary questions customers might have and demonstrate the value of these products. You don’t want to get blindsided and know nothing about a product. 
• Compliance and Regulations: Understand the basic compliance and regulatory requirements related to F&I products to ensure you’re providing accurate information. This knowledge helps build credibility with customers and ensures you are not inadvertently misleading them. For example, knowing the specifics of your state’s GAP insurance regulations can help you provide clear and accurate information.

2. Clear and Consistent Communication

• Build Trust: Establishing a strong rapport with customers will help them feel more comfortable when you hand them off to the F&I manager. Spend time understanding their needs and preferences, and reassure them that the F&I manager is there to help them make the best decision for their situation. For example, you might say, “I’ve shared all your preferences with our F&I manager, and they’ll ensure you get the best financing options available.”
• Set Expectations Early: While discussing the deal with customers, provide a brief overview of what and who they can expect to meet in the F&I office. For example, let them know that they will discuss financing options and additional products, but more importantly, use what you learned about the customer when building rapport to build a connection between them and the F&I manager. Mention the hobbies, favorite sports teams, or interests of the F&I Manager… anything that will create commonality. This helps set the stage for a smoother transition and reduces any anxiety customers might have about the process. 
• Detail Sharing with F&I: Ensure that all relevant customer information is accurately and thoroughly documented and shared with the F&I manager. This includes the customer’s budget, financing preferences, and any specific concerns or requests they have mentioned. For instance, if a customer is particularly interested in GAP insurance, make sure the F&I manager is aware so they can tailor their presentation accordingly. Also, share with the F&I Manager some of the commonalities they have with the customer. Act like you are preparing them for a new friend, not a new customer.

3. Prepare Customers for F&I Discussions

• Introduce F&I Products Early: During the sales process, lightly touch on the benefits of F&I products like extended warranties and GAP coverage. Mentioning these products in a positive light can pique the customer’s interest and make them more receptive when the F&I manager discusses these options in detail. For example, you could say, “Many of our customers find great value in our extended warranty plans for added peace of mind.” Always ensure your manager is comfortable with you doing this before you make it part of your process.

4. Foster a Collaborative Environment

• Regular Meetings: Schedule regular meetings between sales and F&I teams to discuss common challenges, share insights, and align strategies. These meetings can help identify areas for improvement and ensure both teams are working towards the same goals. For example, discussing recent customer feedback can help both teams adjust their approach to better meet customer needs.
• Feedback Loop: Create a feedback loop where F&I managers can share insights on customer interactions with salespeople. This can help improve the overall sales process by highlighting what is working well and what could be improved. For example, if the F&I manager notices that customers often have similar questions, salespeople can address these earlier in the process.

5. Utilize Technology Effectively

• CRM Systems: Make full use of your dealership’s CRM to ensure all customer interactions are logged and accessible to the F&I team. This includes details about their preferences, previous interactions, and any notes on specific concerns or interests. For example, logging a customer’s driving habits or past accident history can help the F&I manager tailor their discussion around relevant financial products. But, this info only matters if the F&I Managers look at it. The most common reason people stop using their CRM is because they believe no one is using the info - including themselves. 
• Digital Presentations: If your dealership uses digital tools for F&I presentations, make sure you understand how they work so you can introduce them to customers if necessary. Being familiar with these tools allows you to seamlessly transition customers to the F&I process. For instance, you could explain how the digital tool will visually demonstrate product options, making it easier for customers to understand their choices. Who can sell to them better than their own psyche?

Put Your New Skills to Work

Supporting your F&I manager is an integral part of creating a seamless and effective buying experience for your customers. By implementing these easy tips, salespeople can enhance the overall customer journey, contribute to the dealership’s success, and build stronger, more collaborative relationships with their F&I colleagues. Together, you can ensure that customers leave satisfied, well-informed, and in a new car! All this ultimately drives dealership profitability and improves your reputation.

How Would You Improve the F&I Handoff?

Let’s keep this conversation going! Comment with your thoughts on how to enhance collaboration between sales and F&I teams or reach out to me directly to discuss it one-on-one. Learning from each other on how to improve customer experiences at dealerships doesn’t only help one store - it helps our entire industry!