Hector Lebron - Dealership Corridor

Each year, “F&I and Showroom” selects six F&I Pacesetters of the year based on their ability to balance performance with customer satisfaction. These dealerships set the pace for the rest of the industry with their professionalism and integrity. This year, Star Dodge Chrysler Jeep Hyundai of Abilene, Texas was named as one of the six Pacesetters for 2013.

What sets this family-owned small-town dealership apart?

The Star Family of Dealerships generated maximum PRU and customer satisfaction by taking a customer-centric approach to training and presenting their F&I products with the help of EFG Companies.

In addition to annual compliance training at EFG’s headquarters in Irving, Texas, Star’s producers learned how understanding the customer’s needs and driving habits sets up the product presentation and benefit discussion, as well as providing a strategy for responding to customer concerns.

Hector Lebron, Account Executive, Dealer Services — Right: Hector Lebron, EFG Companies
Left: Jeff Zinsser, Star Family of Dealerships

Once back at the dealership, EFG’s client representative conducted onsite training, reinforcing the methods learned in the classroom. They also provided guidance and a sounding board to both the front lines and upper management. This continuous engagement ensures that the skills learned in the classroom setting stay sharp, generating a higher success rate and PRU with EFG’s dealership clients.

Since becoming an EFG client in 2010, Star has increased PRU from 105 units per month to over 200 units per month in 2013.

Average PRU for new vehicles: $1,500
Average PRU for used vehicles $1,250

This achievement would not have been possible if Star’s Dealer Principal, Mike Dunahoo, did not believe in treating everyone like family. This not only includes customers, but also employees. In fact, Star Dodge Chrysler Jeep was named “Best Dealership to Work For,” by Automotive News in 2012.

By pairing excellent training, products and engagement from EFG with Dunahoo’s passion for providing the best experience, Star significantly increased product performance to become a 2013 Pacesetter.

F&I and Magazine’s Pacesetters are nominated by dealership employees, general agents, F&I providers and dealership vendors based on their commitment to regulatory compliance, ethics, and to providing a customer-centric sales and F&I process.

Last year, two premier EFG clients were named 2012 F&I Pacesetters.

With EFG’s world class products like MAP and Drive Forever Worry Free (private labeled Maxwell Forever), Nyle Maxwell averaged two products per deal while maintaining a CSI score of 93.4 percent for financial arrangements in 2012. Maxwell also credited continual training from EFG’s Transcend Group for keeping his F&I sales high and his staff motivated and inspired.

The Robbins Auto Mall F&I team touted a 76 percent penetration with EFG’s MAP VSC, and 41 percent with our Signature Finish Appearance Protection products. Robbins attributed the connection between the F&I and sales departments as responsible for such great penetration levels. By placing Top Performers for Robbins Auto Mall and extensive training from the Transcend Group, the sales staff adequately presented F&I offerings at the right time to their customers.

Want to learn how EFG can help your dealership raise the bar? Contact us today!

The festivities of graduation still linger and families are on the hunt for the perfect used car for their kids leaving the nest. With used cars flying off the lots, you are probably trying to make the most of this ample opportunity to increase F&I profit.

You already know that a vehicle service contract is an excellent way to increase used car sales. It eases parental anxiety and provides their kids with quality coverage on most of the same components as a manufacturer’s warranty. But, you have also had more than your fair share of customers with concerns about the mileage limits, especially on a much older vehicle.

Take for example, an F&I manager presenting a 10-year/100-mile vehicle service contract to a customer looking at a car with 60,000 miles on it. Traditionally, this VSC would only cover the next 40,000 miles and many customers often feel like such a product is not worth their money.

However, with EFG’s Motorist Assistance Plan, dealerships have the opportunity to provide more value to their customers with extra protection from financial risk, leading to higher PRU. With MAP^®, customers can add on both miles and time from the time of purchase, taking them well beyond a traditional VSC.

MAP’s add-on miles provides your F&I manager with a significant closing tool. And, if that’s not enough, MAP can be offered with six months complimentary WALKAWAY^®, the product behind the award-winning Hyundai Assurance.

WALKAWAY relieves customers of their lease of loan obligations when unforeseen life events occur, such as involuntary unemployment, physical disability, or critical illness.

While providing your customers with this extra protection, MAP and WALKAWAY:

strengthen margins and profitability with upsell opportunities;
manage risk by adopting a strategy that decreases repossessions and collection costs;
drive traffic to your service department;
transform potentially frustrating events into loyalty-building opportunities; and,
differentiate your offerings, thereby retaining and attracting new customers.

With more than 35 years as an administrator of consumer protection products, EFG Companies knows how to innovate products that build profitable and lasting relationships with your customers. Contact EFG today to learn how products like MAP can increase your PRU.