What is the cost of excessive F&I turnover? Let’s say:
a) You sell 100 cars a month
b) You lose $500/car PVR for the first two months you have a new F&I Manager
Every time you replace an F&I Manager, it could cost you $50,000-$100,000 during the ramp-up of the new manager. How many managers do you replace in a year? We constantly hear the life cycle of an F&I Manager is 6-12 months.
You can eliminate these costs by learning a critical lesson from product management.
You are probably familiar with the product-lifecycle curve: Usually slow to take off, then an explosion in sales. How long should a product lifecycle last? Many business people think a 20-year life cycle is praiseworthy.
How do companies maintain an extended product lifecycle? The key is non-stop innovation in all facets of their business.
The same is true of F&I Managers — they have a longer productive tenure through non-stop innovation.
We can help with F&I management solutions. As the most innovative company in the industry, we will not only train your F&I business managers, but we will make sure they are intellectually stimulated and grow by our continuous flow of innovative F&I products.
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