Make Your F&I Profit Stick

James Lawrence is the COO & Co-Founder of Sensitive Data Protect (SDP Compliance), a company that specializes in creating a secure environment for dealership data and compliance. What we discuss in this episode: Traditionally, dealers have done well ensuring that hard copies of consumer private data are kept safe with mechanisms in place like locked filing cabinets and ensuring that no sensitive data is left on printers, fax machines and photocopiers. With the advent of a more digitized process, dealers now face more issues when it comes to keeping private data secure and safe from a very real threat: cyber-attacks. Data silos present a very real risk when it comes to how dealers manage sensitive information. For example, one vendor shares data with another, which creates a barrier between service providers and dealership on how the data is being managed and secured. Data security breaches have a very real impact on dealership operations, not just from the FTC side but also the consumer protection acts and consumer privacy acts. With consolidation happening throughout the industry, dealers considering a merger or acquisition must consider how secure their data is. James explains ransomware and how it's effecting dealership operations today Listen to the full episode for more valuable insights about keeping your dealership data secure and protected. Thank you, James Lawrence! Connect with Becky Chernek: LinkedIn - https://www.linkedin.com/in/beckychernek/ Facebook - https://www.facebook.com/rebecca.chernek.1/ F&I Today with Becky Chernek - https://www.facebook.com/groups/260984864044461 Website - https://www.ccilearningcenter.com

Jody DeVere works with automotive retail dealers to become Certified Female Friendly, learning how to create a culture and experience that attracts and retains loyal women customers. What we discuss in this episode: Why it's important for car dealers to consider the cultural demographics of their service area and ensure that their workforce adapts. Many dealers still speak in ways that attract a more male audience, largely due to the fact that the ratio of men to women in the auto industry is unbalanced. Woman still feel uncomfortable working with dealerships; a problem that could easily be mitigated if we made our dealership environments more female-friendly. The most forward thinking dealership leaders understand the important role that cultural diversity plays on profitability. Listen to the full episode for even more insights! Thank you, Jody DeVere! If you enjoyed this conversation with Jody DeVere, please let him know by clicking on the links below and sending a message. Click here to thank Jody DeVere on LinkedIn Click here to share your number one takeaway with Becky Chernek Connect with Becky Chernek: LinkedIn - https://www.linkedin.com/in/beckychernek/ Facebook - https://www.facebook.com/rebecca.chernek.1/ F&I Today with Becky Chernek - https://www.facebook.com/groups/260984864044461 Website - https://www.ccilearningcenter.com

Peter Carusone is the founder and President of VisionAST, the creators of F&I reporting software FinanceVision, which helps car dealers increase profits through their variable operations. What we discuss in this episode: Pete explains that reporting needs to be easier to understand for variable ops so that teams can take the information and actually leverage it. There is value in being able to make mid-course adjustments to drive profits. The only way to do that is to get your hands on the right reports as quickly as possible. Pete shares that the car deal actually begins from the time the an introduction is made and the sales professional gets involved. Sales pros have a great responsibility to tee up the next phase of the sales process so that the customer follows a natural progression to the delivery of the vehicle. Relationships rule the F&I department. If you're a partner with your customer from the moment they walk through the door, you'll be able to get them the best vehicle, protection and have them as a customer for a lifetime. Listen to the full episode to get even more great information from Pete Carusone. Thank you, Peter Carusone! If you enjoyed this conversation with Peter Carusone, please let him know by clicking on the links below and sending a message. Click here to thank Peter Carusone on Linkedin Click here to share your number one takeaway with Becky Chernek Connect with Becky Chernek: LinkedIn - https://www.linkedin.com/in/beckychernek/ Facebook - https://www.facebook.com/rebecca.chernek.1/ F&I Today with Becky Chernek - https://www.facebook.com/groups/260984864044461 Website - www.chernekconsulting.com

Brian Kramer is the General Manager of Germain Toyota of Naples and has been a change agent and advocate for digitizing car dealership experiences and processes. Some dealers are still reluctant to adopt a digital process, but now is the time to embrace the digital transformation. In this episode we discuss: Brian shares that it's important to take action adopting digital processes, even if it's messy to begin with. With digital adoption comes the importance of displaying F&I numbers earlier on in the customer's purchase journey. Customers who can see numbers earlier on usually end up purchasing more products and services. Brian's team starts with a digital retail tool, and then follows a process that is 100% paperless. When the deposit is received, that's the trigger for a remote interview with the customer. That way the dealership can provide a more accurate "out-the-door" number. Brian can't think of a reason why his team wouldn't conduct an F&I interview prior to creating documents for a customer. Brian's team slogan is "Simple, Fast, and Easy." That's allowed them to get away from price and payments and allows them to focus more on making sure they can always provide an answer to customer questions. Listen for more! Like this show? Please leave us a rating and review where you're listening right now! Even one sentence helps! Consider leaving your LinkedIn or Instagram handle so we can thank you personally! Thank you, Brian Kramer! If you enjoyed this conversation with Brian Kramer, please let him know by clicking on the links below and sending a message. Click here to thank Brian Kramer on Linkedin Click here to share your number one takeaway with Becky Chernek Connect with Becky Chernek: LinkedIn - https://www.linkedin.com/in/beckychernek/ Facebook - https://www.facebook.com/rebecca.chernek.1/ F&I Today with Becky Chernek - https://www.facebook.com/groups/260984864044461 Website - www.chernekconsulting.com

A recent automotive article suggested that dealers aren't taking advantage of finalizing financing online. You don't have to be an F&I veteran to know that this is an issue. Dealers want their customers captive at the dealership so that they can do whatever possible to close a deal. The pandemic has pushed digital retailing to the forefront of consumers mind. Car shoppers like having the flexibility of seeing financing options during their online browsing well in advance of making a purchase decision. What we discuss in this episode: Becky explains why consumers like digital retailing options During the height of the pandemic, dealers were doing whatever they could to stay afloat. This included adopting some digital retailing solutions to keep their business moving. As things slowly return to normal, many dealers are sinking back to their old ways. Today the business is in a different ball game and it's more important than ever to do what is needed to attract customers on their terms. In an effort to put the customer first, Becky encourages car dealers to be as transparent with financing options upfront, and to adapt to the new and evolved consumer demands. It's all about giving car shoppers the options they are looking for, when and how they are looking for them. F&I can either enhance or detract from the excitement of buying a new or used car. Becky shares some of the software solutions that will help you improve your F&I process Providing upfront financing options doesn't mean you won't be able to offer additional after-market products. Becky shares some simple word tracks to help introduce after-market products like performance tires, repairs and replacements. If your tire and wheel penetration is lower than 40%, tune into future episodes of the podcast where we'll discuss how to gain more customers, repeat business and more — all from tire and wheel sales. Like the show? Subscribe and leave a rating and review. Even one sentence helps! Connect with Becky Chernek: LinkedIn - https://www.linkedin.com/in/beckychernek/ Facebook - https://www.facebook.com/rebecca.chernek.1/ F&I Today with Becky Chernek - https://www.facebook.com/groups/260984864044461 Website - www.chernekconsulting.com

Welcome to the newest car dealer podcast, "Make Your F&I Profit Stick" by Rebecca Chernek. The automotive industry is changing faster than ever, and now is the time to take your career in automotive to the next level. Whether you're seeking to be the best in F&I or maybe you're an account rep and you want to learn what goes on behind dealer doors so that you can serve your customers better, Make Your F&I Profit stick is for you. But who is Rebecca Chernek and why should you listen to this podcast? In this episode, Rebecca (Becky) shares how she got her start in the industry, and what has led her to creating this podcast as a way to help retail automotive dealers gain practical insights from her years of experience in the business. What we discuss in this episode: Rebecca's father owned a dealership, but never anticipated that she would want to work in a "man's business." She proved him wrong by cutting against the grain and claiming her stake as a powerful, record-setting woman in automotive. As a Saturn sales person, Becky learned the importance of selling value over price and how customers want to get the most value for their money. During her time at JM&A Group, Becky spent time across the United States working with dealerships of every size. This experience helped her understand the varying needs of each dealership based on size, culture, demographics, and so much more. She also witnessed first-hand that dealers who implemented a solid in-store process sold more vehicles, preserved more margin on the front and back-end of a car deal, and maintained long-term client relationships over those who were merely chasing numbers. A dealer who has some sort of a process will fair better than those who don't. That is more relevant in today's automotive industry climate than ever before and will continue to grow in relevancy with time. When Becky was made responsible for a large AutoNation store overseeing their F&I process, she was responsible for implementing a process and way of selling F&I that had never been done before. It was that innovation before it's time that led Becky to begin consulting dealers on F&I process and helping dealers from coast to coast implement a process that helps them drive significant performance. Being upfront with customers doesn't have to mean generating less profits. It can mean the exact opposite. Becky's experience working as the F&I director for a 14-rooftop dealer group brought her to a whole new level and was one of the best professional experiences of her life. She learned valuable lessons that have stuck with her and have helped others perform at an accelerated pace. Subscribe to the show so that you never miss an episode! Each week we'll release expert interviews, conversations and training on the topics below. Why the rich get richer and how you can too Which loyalty programs to stick with and which ones to ditch How to win and influence people to get results that stick Are tracks a thing of the past? Is your F&I manager breaking laws Overcoming objections in today's market How to win at digital retailing Breaking bad habits that cost you customers Why tracking performance is critical to your success How to protect your store against cyber attacks How to present the menu The best products to put on your menu How to keep the menu simple Time for a makeover Strengthening broken relationships Re-hashing isn't dead and why you should do it Getting better support form your account rep And so much more! Connect with Becky Chernek: LinkedIn - https://www.linkedin.com/in/beckychernek/ Facebook - https://www.facebook.com/rebecca.chernek.1/ F&I Today with Becky Chernek - https://www.facebook.com/groups/260984864044461 Website - www.chernekconsulting.com