Road to a Sale Step 10

Congratulations...it's time to take your customer to finance and the road to a sale step 10 will show you the right way. Remember, you can return to any step in the road to a sale by clicking here.

Before we continue I want to make certain you know something about the function of your finance department. Your dealership may refer to it as the "business office" or "F&I" (finance and insurance).

What does the finance department do? It varies slightly from dealership to dealership but here is a list of their most important duties.

• Secure your car deal
  Their primary job is to secure your car deal. They complete all necessary documentation. Lender contracts, title work documents, powers of attorney, etc.
  
  
• They are a profit center for your dealership and your help in making the transition a smooth one is critical.

  Your finance department offers products to protect your customer's investment. They offer extended service agreements, insurance programs that pay the debt in the event your customer becomes disabled or dies. They have programs for paint and finish protection and tire replacement.
  
  

• They secure financing for your customer
  At most dealerships the finance department interviews the customer and completes the credit application or customer statement. Based on that information they present the deal package to the lenders they know will offer your customer not only the best available rate but approve the deal. Because of the volume of business dealerships like yours send to lenders your business office can offer rates the customer may not have access to at their financial institution.

How do people become finance directors or producers? Your finance department is staffed by people who most likely started right where you are. On the sales floor. They demonstrated the ability to close deals and maintain great customer satisfaction scores. Finance department employees are among the best salespeople in your dealership.

Always remember the rules of your dealership take precedence over any training you receive here. Having said that I will share with you a simple turn to the business office.

"Mr. Customer, this is Joe. He is one of our finance directors and you are in great hands. He does a terrific job for my customers. I am going to get your vehicle ready for delivery. See you in just a few minutes."

Unless your dealership asks you to mention extended service agreements or other products offered by your finance department...

Don't Do It.

Finance professionals are trained to take it from there.

If you are enjoying this Stay On Target module make sure you never miss an update to the StayOnTarget training series. All you need to do is let me know where to send it.





Road to a sale step 10 of 12

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