The answer, of course, is F&I. No other space in the dealership even comes close. F&I is busy, filled with stress, and day in, day out, in good times and in bad, it makes the most money for your dealership.
What if there was a way to increase F&I profitability, increase customer satisfaction, and simultaneously reduce the stress associated with financing a vehicle?
Well, there is. One of the most difficult tasks for your F&I staff is handling cancellations of service contracts and prepaid maintenance on trade-ins. If your F&I staff underestimates the proceeds from a cancellation, they’ve left money on the table. If they over-estimate, your staff is left with the unpleasant task of trying to collect $40 from a customer who just left in a $45,000 SUV. And with charging back $26 to an F&I person who just booked a $4,000 gross profit on one deal. Ask your F&I team about cancellations. They will tell you that there has to be a better way. They are right.
Scan123 offers a scanning solution that puts service contracts and prepaid maintenance agreements at your F&I’s fingertips. F&I can calculate exactly how much will be received from a cancellation. They won’t leave money on the table. No more chargebacks to F&I. No more annoying calls to customers to tell them that they need send you another check for $40.
Once in awhile, a product pays for itself. Give us a call, and we’ll explain how it works.