It could pay off to follow up with customers in the F&I office, says Michael Burgholzer, president of Peak Performance Team, a Surfside Beach, S.C., provider of F&I products, training and service. Burgholzer offers three tips on how best to follow up with customers to increase F&I department gross profits.
Many customers feel pressured in the F&I office and simply shut down to all or some of your product presentations, he says. Give customers a few hours, or, better yet, overnight to relax. Call them back before you submit the package for funding and ask if they’re enjoying their new vehicle and if they gave more thought to the protection package you had spoken about. “Tell them you think it would benefit them,” Burgholzer says. “That can turn a no into a yes.”
Also, during or after a service visit when customers are thinking about the cost of maintenance and repairs, offer a simple pitch of protection offerings, not just vehicle service contracts, he says. Ask the service adviser for a few items they identified, such as scraped rims or door dings, that will help you as you discuss protection products.
Finally, take time to call previous customers around the time their manufacturer’s warranty expires. “This is an opportunity to sell extended service contracts,” Burgholzer says.