Service and F&I Are More Alike Than You Think
Sometimes your F&I and Service departments mix like oil and water. But for service advisors and managers, there is a lot to gain by learning how to mix well with their up-selling counterparts in F&I. In this blog, we learn from seasoned dealership pro Chris Wilson. Chris has been in the car business for over 15 years, including 12 years in the F&I department. He offers advice on how to get service and F&I departments to work well together, with the ultimate goal being providing an optimal customer experience and a more profitable business.
Why Service and F&I Are More Alike Than You Think
One of the biggest similarities between service and F&I is how they interact with the customer.?
The sales team has to go out and get the customer. In finance and service, though, the customers are coming to you. They are coming in with the mindset that they are going to spend money, too, but that doesn't mean it's going to be easy. In fact, many of the customers may have had bad experiences with service and finance in the past. That means both departments will have to navigate the psychology of these interactions with their customers.?
What customers want from these departments is the same, too. Customers want transitions in these departments to be:?
·?Quick
·?Professional?
·?Painless
Customers want the facts, and they want to feel like they are working with someone they can trust. And ultimately, in these two departments, the customers are going to make their own decisions. If you give them the facts and all the possible solutions, they'll end up picking more options than you could ever sell them.?
How to Get Your Service and F&I Departments to Work as One Team
If you want there to be a culture of teamwork between your service and finance departments, that attitude needs to start at the top. It begins with the leadership team. Leadership has to set an example by doing things like inviting both departments to the same functions instead of having separate events for everything. This might seem like a small gesture. However, these are the times when the two departments can build camaraderie and create that culture of teamwork.?
When you build that culture, it naturally creates the drive to want to work together and help each other succeed. Suddenly it becomes easier for everyone to see how they can help each other because they actually want to do it. This results in teamwork like:?
·?The service department coming to F&I to help them sell service contracts.?
·?The finance team going on service drives or helping a customer understand their service warranty.?
·?Working together to help get claims pushed through for a customer.?
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The end result is a dealership where everyone is looking out for each other while delivering the best customer experience possible.?
The Common Goal for Every F&I and Service Manager
Whether you work in F&I or service, there is one thing that's true: there is a tremendous amount of pressure for these departments to make money. These are the two departments that dealerships rely on for profitability and income. But they can often reach those goals using similar methods.?
To hit big financial goals, Chris had a rule for his F&I department: offer the customer every product they qualify for, every single time without exception.?
He says this is a good rule for the service department, as well. If they are in need of seven service items, don't just offer them three because you think that's what they can afford. Not only will your profits go down when you do this, but your customer service scores will also. You aren't offering the customer the options and services they actually need. If they need it, offer it every time.
Three Key Takeaways
Chris says that when it comes to service and F&I, the key takeaways are:?
·?The last thing you ever want is for a customer or other employees to see two departments bickering over something. The goal should be to learn to work together and create a united front in the public eye.?
·?Get on the same playing field as your team members. That means having a better understanding of what they do and what they go through on an average day to meet the needs of the customer.?
·?A culture of teamwork starts at the top. When the leadership can create that culture, it will help every department thrive.?
Sales may sell the first vehicle, but services sell the rest of them. The service department is what keeps customers coming back to the dealership. When the customer is ready to buy another vehicle, that dealership is the first place they'll go. This means each department is dependent on each other for long-term success. When departments work together, they grow and become more profitable.?
At the end of the day, it's about making the dealership money and satisfying the customer.?
Want to hear more about creating a culture of unity between service and F&I? Listen to Corey's interview with Chris by pressing play now.