Whether you are a franchise or independent dealer principal, you want to offer the perfect blend of F&I products that match your inventory and your customers – as well as delivering the highest revenue. It can be tempting to pick and choose products from a couple different providers, in search of the perfect mix. But at the end of the day, there are many drawbacks to taking an ‘a la carte’ approach to your F&I menu. Let’s consider a couple of case studies to shed some light on the challenges of an ‘a la carte’ approach.
Independent dealer streamlines F&I, sees business and revenue boost
Novak Motors prides itself on the quality, value, and level of service offered within each rooftop, and has been recognized as the nation’s #1 lease return outlet. With locations in Texas, New York and New Jersey, this leading independent dealer has been recognized by CarGurus, CARFAX, and DealerRater. But with all of these accolades, there was one major issue. Novak’s sales, F&I and back-office accounting teams were expending vast amounts of valuable time reconciling around three very different F&I providers.