They can, but you lose. F&I Profit should contribute something close to 50% of your stress net profit. If you are okay giving up that amount of revenue, then let customers arrange their own. Wouldn't you rather make some money?
Dealer Profit Services delivers comprehensive F&I services. We do everything from offering full service F&I, fractional F&I (where we can complement your F&I team), F&I Training and Consulting, finance lead services, and Red Flags Training and Manuals. We help you drive F&I profit, in whatever form works for you.
We have exclusive relationships with organizations who partner with the Credit Bureaus to provide "soft-pull" bureau pulls. These pulls have no impact on the customer credit score and allow you to offer the customer a "pre-approval" based on their actual credit profile. We help you place "Get Pre-Approved" forms on your website so that online shoppers can get this "pre-approval". We see a 15% - 25% improvement in online leads using the "Get Pre-Approved" approach.
You can – are you? Are you attaining a 50% (plus or minus) Net Profit increase with your F&I? Are you providing F&I training for your team? Are you seasonal so that your F&I is providing a profit drag during slow season? How are you doing on all the compliance issues – do you know what they are - are you prepared for big fine for violations?
Dealer Profit Services delivers.
Maybe nothing – or maybe everything. If your person is swamped, or maybe under-trained, they may be leaving a lot of F&I profit on the table. Are you attaining a 50% (plus or minus) Net Profit increase with your F&I? If not, maybe we can help your F&I person.
There is no cost (except for a few minutes of your time) to get started. Once started, we use a Flex Fee model where we charge a percentage of your F&I profit on a per deal basis based strictly on your F&I profits – you only pay when we succeed. The percentage we charge ranges from 20% to 40%.
Absolutely not! We will never lie to you or your customer. We help you to get access to a wide range of lenders. Based on your customer's credit profile, we will get an approval – or we won't. We will work with the customer to do everything possible to get an approval – including adding a co-applicant if that is approval. Ultimately, it is credit profiles that determine approvals.
Absolutely not! If you ever hear anyone claiming that, they should be reported to the FCRA. This is illegal to claim. We will them a rate which is appropriate for their credit profile and the nature of what they are purchasing.
Sorry, no. We hate paperwork too. Sometimes it is just needed. We try to make everything as easy as we can for you!