A Powerhouse F&I Menu for Dealer Big & Small
Today’s F&I department looks different from one dealership to the other. Small dealers, large volume multi-rooftop dealer groups….each store has their own unique challenges and needs in F&I. One thing that every F&I office does have?
A clunky menu platform.Menus have been around forever but in the last decade, their use has grown exponentially. It’s simply an easier way to present the entire list of available aftermarket products and often finance options. But not all providers have menus that work well with the next provider. That’s where the ‘clunky’ part comes in. Many stores don’t have this part centralized.
What would this look like, though, in a perfect world? What would a single platform menu do for an agent and the F&I departments they serve?
- Dealers can see all of their admins/products in one centralized menu to show customers and it becomes easier to present on screen and via online screen shares. In today’s digital delivery environment, having a one-stop platform to easily present all products together regardless of provider makes for a more seamless experience for car buyers.
- Agents who help their dealers implement this can easily keep tabs on the competition by monitoring changes in coverages and price. This real-time intel can give an agent a ‘leg-up’ by knowing trends within their market and be able to offer solutions that may be a better fit for the dealer.
- A custom all-inclusive menu platform makes it easy to offer bundled ancillaries. F&I staff don't have to bounce to different tabs to show products individually when they could more easily show a well priced appearance bundle in one of three columns available to show the buyer.
While the industry is still in the throes of COVID and dealers have not fully recovered from the revenue hit of the lockdowns and now have to suffer through the chip shortage, any tools that save time and make the buying experience better for buyers are also bound to help increase revenue in F&I. Dealers are consolidating vendor relationships at a higher rate in the last year and a menu platform like TruMenu can help keep agents from being pushed out of the process by offering a centralized menu system with broad compatibility and no fees.
Powered by TruWarranty, TruMenu gives agents a unique but powerful F&I tool to offer their dealerships regardless of size or volume. Click here to learn more about how you can roll this out to all of your dealers partners within hours.
A fixed price for F&I products is a better and more trustworthy approach for all customers yet it has not been widely adopted. Why? What are the benefits to offering set pricing and how can it reduce the friction between F&I and the buyer? Let’s take a look….
Given the staffing challenges in the dealership environment, how do you bring more diverse applicants back into the dealership environment, particularly in F&I? And are there better ways to attract more women and minorities to apply? At a time when businesses are focusing more resources and attention on DEI (diversity, equity, and inclusion) for their employees, dealerships should, too. It’s more than just hiring people from diverse backgrounds…at its core it’s about looking at the entire organization and making it a welcoming place where everyone’s potential is encouraged, and everyone’s voice is heard.