4 recommendations for an F&I edge to start 2018


The team at GWC Warranty offered four suggestions to help dealerships looking for an edge in January and the rest of 2018.

Recommendations to boost sales as well as ongoing success in the F&I office, GWC Warranty declared that “there’s no better time to try something new and set your dealership apart than a fresh start ahead of selling season.”

Here is the rundown that GWC Warranty shared .

1. New training

GWC Warranty acknowledged that enhancing the training your dealership personnel absorb sounds easy enough.

“But it also probably sounds time consuming. Spoiler alert: It doesn’t have to be,” the company said.

“The best training is the training that fits your schedule,” GWC Warranty continued. “Down time on a slow Monday? Check out a course. Customer running late for an appointment? Learn a new trick or trade. With tools like GWC’s Virtual Training, you can train on what you want and when you want with just a few clicks.”

2. New technology

GWC Warranty stressed that dealerships shouldn’t let the word “technology” give managers the perception that they will be “biting off more than you can chew.” The company reiterated that the point of technology is to make things simpler for the dealership to arrange financing and watch metal roll over the curb.

“You might surprise yourself with something new. Take Covideo for instance,” GWC Warranty noted. “You’re probably already making calls to potential leads and new customers, so why not try a video message to liven up your chats? It could be just the bump you need to convert more leads than last year.”

3. New leads

Speaking of leads, GWC Warranty understands that stores are always going to be looking for new ones. The company suggested that the key in 2018 is to look in places where store personnel never previously looked.

Starting with your vehicle service contract business could be a good start, according to GWC Warranty.

“Checking in on contracts you’ve sold that are expired or expiring could help you re-engage with a customer who’s starting out the search,” the company said. “And if you make the phone ring before they start shopping around, you’ve already got a leg up on the competition."

4. New regulations

GWC Warranty acknowledged that what state and federal regulators choose to do is often out of the dealership’s control.

“With every year there are seemingly more (or fewer) regulations and its incumbent on your business to adjust,” the company said. “But you’re not a legal expert nor do you employ one.

"So in 2018, it could be worth your while to enlist the services of compliance experts to protect your business. If you’re a GWC Warranty Elite Dealer, you’re in luck and can sign up for compliance tools and training at absolutely no cost,” GWC Warranty went on to say.

More dealer assistance can be found at GWC Warranty's blog .