raise the bar
How To Develop Your Finance
Services Department Profit
Process evaluation: Is your Financial Service manager meeting with every customer at the time of sale? If this is handled correctly by your staff, it will solidify the deal and expedite delivery. This is also the best time for your customer to be presented with their options in financing as well as any other products you choose to offer your customers.
Product Knowledge: Your Financial Services manager needs to know every detail of the products they are presenting to your customers, including the particulars of all financing and lease options available.
Presentation Techniques:
Most Financial Service managers are not successful for 2 reasons. They have trouble presenting all of their products to all of their customers, and/or they do not keep track of their performance on a daily basis. In today’s customer-savvy market, a menu presentation system will allow your Finance Service manager to present all of their products in a non-confrontational manner. By utilizing PerformanceTrack® you can monitor your Financial Services department’s success daily never allowing a bad day, week or month to go by.
Compensation Plan: Every business manager will figure out his/her pay plan and work their pay plan to their benefit. Balanced selling increases your profits and reduces chargebacks. Balanced selling also increases customer satisfaction. If you want to increase balanced selling and profits you need to have a pay plan that will encourage balanced selling.
INTRODUCTION
First impressions are essential. This segment concentrates on the proper introduction to the Financial Services office.
ORGANIZATION
The Financial Services office must be organized to be effective. We concentrate on simplicity.
* PerformanceTrack® — a proprietary accountability system.
* Assembly of an FYI book for all rates and premiums.
* Use of a delivery log for scheduling.
AFTERSELL
To control chargebacks, offering several products using a menu must be a priority. Balanced selling is the only way to increase profits. We concentrate on menu presentation techniques and closing.
INTERNAL RELATIONSHIPS
The Business office must maintain a positive relationship with the administrative, sales and service staff. Communication is key. All departments must work for the common goal which is increased customer satisfaction and profits.
LENDER RELATIONSHIPS
We concentrate on establishing a relationship with a primary lender. This results in a higher number of credit application approvals.
CREDIT UNION AND BANK CONVERSIONS
Conversions from credit unions and banks can be done if approached in the right manner. Rate is not always the most important issue.
INSTANT DELIVERIES
This segment will show you how to make this an exciting time for your customers; how to reduce your cancellations and increase your front and back end gross; and, the legal documents necessary to protect the dealership.
CREDIT APPLICATIONS
Credit applications make the difference in getting approval on marginal deals. We will discuss how to fill them out correctly and how to discuss sensitive information with your customers so you can deliver more cars.
CREDIT REPORTS
Here we concentrate on analyzing credit reports and how to use credit reports to get applications approved.
LEASING
Proper documentation will insure quick payment on leasing agreements. Offer products that make sense to a lease customer.
INTERNET/PHONE
All customers will buy products if you present them. We will show you how to handle these situations.
CSI
How to increase your CSI scores while your customer is taking delivery of their new car.
COMPLIANCE
Make sure that you and your process are up to date with the current laws and regulations.
Financial Services Training
Whether you are a newcomer to the Financial Services Office or a seasoned veteran, our Performance Academy can help you improve your overall effectiveness and profitability.
Managers are taught how to effectively manage the entire Financial Services process, from the sales person’s “meet and greet” to the delivery. We also review objections, regulatory issues, documentation management, tracking, marketing techniques, presentation materials, department projections, sales department management and more!
Online Seminars are an excellent supplement to on-site training. The seminars are produced as individual modules and allow you the opportunity to pick and chose the topics that are important to your dealership and management team.
Seminar topics include: Forecasting and Planning; The Role of the Business Manager; Building the Customer Interview; Customer Choice Presentation; Service Agreement Objections.
We offer both live and recorded sessions allowing for maximum flexibility.