Definitive Guide To F&I

Every dealer sells F&I products, and most dealers understand the importance of the F&I department in terms of its contribution to the bottom line. Unfortunately, F&I is not a regulated profession; meaning one doesn't need any type of state license to practice and because of that there is very little formal education available. There is plenty of sales training focusing on HOW to sell F&I products and there is compliance training as well. However, the actual management of the F&I department, product selection, and different types of participation programs are largely ignored. Most dealers, general managers, and finance managers must figure out these aspects in real time, on the job.

This book is written for the senior management team (dealer principal, general, manager, finance director, and finance manager) so they can improve profitability of their business. Setting up the finance department the right way will generate significant profit for the dealership and build generational wealth for the dealer principal. GM's, finance directors, and finance managers will benefit from understanding certain management practices while the dealer principal will gain an in-depth understanding of various participation programs such as retro, reinsurance, and dealer owned warranty company.