Great Jobs and Skills That Transition into F&I Management

A job in finance and insurance management offers many advantages, including excellent employment opportunities across the nation, a lucrative salary, job security and much more. Although anyone can pursue a career in this field, possessing certain skills or having a background working in certain fields will make it easier for you to make the transition.

F&I Management Basics

F&I managers serve a distinct and important purpose within an auto dealership. As an F&I manager, you will be responsible for helping each customer obtain the financing needed to purchase a vehicle. You will also complete all the required documentation, and you will help with insurance needs. In addition, F&I managers promote and sell some of the dealership’s most lucrative products, including extended service contracts and other vehicle purchase add-ons.

Working as an F&I manager requires a wide variety of skills. Although you can learn many of these skills in an F&I management training program, having certain characteristics will make it much easier for you to adapt to your role.

Skills and Experience You Need for F&I Management

Some of the skills that will help you to be successful as an F&I manager include:

1. Experience with sales.

One of your primary responsibilities as an F&I manager is to sell the products your dealership offers. The more effectively you can sell these products, the more success you will enjoy as an F&I manager. In addition, because most dealerships will base your pay at least in part on commission, being a capable salesperson will increase your earnings.

While some people are naturally more persuasive and adept at sales, others will need to learn this skill and improve it over time. Having experience in a sales position and/or a natural affinity for sales can help you transition into a career as an F&I manager with less effort.

2. Customer service skills.

As an F&I manager, you will spend a large portion of your day interacting with customers. Understanding how to provide excellent customer service will make you much more effective in your job. If you have had any experience in a customer service role in the past, you will be able to translate these experiences into your new career.

3. Interpersonal skills.

As you are looking for financing, completing paperwork and discussing extra products, you will be working closely with customers. To build strong relationships with each customer, you will need superior interpersonal skills. Some people have these skills from birth, while others build them as they work in customer service positions. If you are someone who already possesses good interpersonal skills, you may have an easier time transitioning into a job in F&I management.

4. Finance and accounting skills.

As an F&I manager, you will be responsible for making a number of important calculations for each of your customers, including loan payment amounts, the cost of vehicle add-ons and more. These aspects of your job will be much easier if you already possess some talent and/or interest in mathematics.

5. Technology skills.

Modern F&I managers need to be able to use a variety of software programs and other tools to do their work on a daily basis. If you have experience using technology, adapting to this part of your job will be simpler. However, it is always possible to learn these skills even if you don’t have any experience with technology.

6. A strong work ethic.

A job in F&I management can be both rewarding and lucrative, but it requires a consistent effort and a strong commitment to your employer and your customers. If you have a solid work ethic, you are more likely to be successful when you begin work as an F&I manager.

Building the Skills You Need

Although possessing some of the skills and experience above can go a long way towards preparing you for a career in F&I management, there is no substitute for the knowledge and skills you can build when you attend a licensed training program. When you attend a training program, you will learn:

  • The basics of auto financing and loan approval.
  • How credit scores and reports work and how they are used to make financing decisions.
  • Skills needed to use appropriate technologies efficiently.
  • Math skills.
  • Interpersonal and relationship-building skills.
  • Sales skills.

The best F&I management training programs will not only require you to spend time learning the skill sets you need, but they will also give you the opportunity to practice your skills in a realistic environment so you can be well-prepared for your job.

F&I Management Training at Automotive Dealership Institute

Automotive Dealership Institute has been the nation’s only licensed Finance and Insurance Trade School for over 30 years. With our program, you can build all of the skills you need to be successful in an F&I management career. Although having certain background experience or personal characteristics can help you in this transition, our institution is proud to accept students from all walks of life.

When you choose to study F&I management with ADI, you can complete your entire program in as little as four weeks. ADI offers both in-classroom training and an online training option to meet the needs of different students. In addition, our institution offers job placement assistance across all 50 states. Our graduates benefit from an over 90 percent job placement success rate within the first 90 days after graduation. Specialized financing assistance is available for U.S. veterans.

If you are interested in a career as an F&I manager, the first step is to get the training you need. Whether you have a background in sales and an affinity for customer service or you are just entering the field, you can be successful as an F&I manager with the help of ADI’s training program. Please contact Automotive Dealership Institute today to learn more or to enroll in a program.

The Ever Changing Role of F&I Managers

Just like most jobs, the position of F&I manager is evolving and changing over time. To be successful in this industry, it is important for prospective and current F&I managers to stay up-to-date on all of the latest developments.

The History of the F&I Department

In the past, there was very little contact between auto finance companies and customers before they came to the dealership to make a purchase. Most research was done from home, and the information and resources available were limited. As a result, customers were required to go in person to the dealership to find out how much they could afford to borrow, what their interest rate would be and other important facts related to financing. Because of this dynamic, the F&I department played a huge and essential role in every financed auto purchase.

The Effects of Technology

Because of the evolution of technology, consumers have access to a lot more information at home than they once did. In fact, a customer planning to purchase an automobile now has the ability to apply for and secure a loan before ever coming to the dealership. As a result of these developments, some industry experts have tried to claim that the F&I department is on its way out. However, this could not be further from the truth.

Even with the emergence of new technologies, the F&I department is still playing an important part in the dealership’s functioning. Although some consumers research loans at home, many customers still prefer to work with a human being when looking for the right financing option. In addition, the F&I department has other responsibilities in addition to financing. For most dealerships, it is the F&I department that brings in much of the company’s revenue through the sale of optional products, such as extended service contracts. Without this revenue, the dealership could not be as profitable.

Adapting to a Changing Landscape

Technology is not the only change in the F&I world. In addition to dealing with this issue, F&I managers are now facing a greater responsibility for compliance with regulations from key government bodies, such as the Consumer Financial Protection Bureau and the Federal Trade Commission. Furthermore, to combat burnout among F&I personnel, some dealerships are now instituting altered pay structures that include a combination of salary and commission, as opposed to commission only.

F&I managers need to be prepared to adapt to this changing industry in order to be as successful as possible, both for the sake of themselves and their employers.

To be successful as an F&I manager in a changing world, one must keep the following in mind:

1. Understand the importance of technology.

When working as an F&I manager, you need to be aware of the way technology now impacts your job. Many customers will come into your office with concrete ideas about how much their payment should be based on the math they have already done with their smartphones. When your quotes are not the same, customers are sure to become suspicious.

To maintain rapport with customers, you need to be aware of this issue. Get to know the resources available to your customers, and be prepared to provide an explanation when you know your quotes are not going to match their research.

2. Understand the products and services you promote.

Customers have more knowledge at their fingertips than ever before. If you don’t understand the products and services you are trying to sell, your customers will be able to tell. Become as knowledgeable as possible so you can relate to your customers effectively. If you don’t know the answer to a customer’s question, be honest and do your best to get the information requested as quickly as possible.

3. Know the law.

As an F&I manager, it is your responsibility to maintain compliance with relevant laws. Know the requirements of these laws so you can keep your dealership compliant at all times.

4. Be ready for more changes.

Just as recent changes have impacted the F&I industry, more changes are likely to occur in the future. As an F&I manager, you need to be continuously on the lookout for any changes that will have an effect on your customers and your job. When new technologies appear, be proactive about learning how to use them. Always be ready to adapt and grow.

Preparing for an F&I Career

It is more important than ever before for anyone who wants a career in this field to be properly prepared before beginning his or her first job.

If you are thinking about beginning a career as an F&I manager, the best thing you can do to ensure your success is to get the proper training. As an F&I manager, you will have a range of responsibilities, from helping customers get the financing they need to selling optional products on behalf of your dealership. In order to perform your job properly, you will need the right information and skills.

Automotive Dealership Institute has been the only licensed F&I training school in the nation for the last three decades. Our F&I training program will teach you everything you need to know to be successful in the field. Contact us today to speak with one of our helpful advisors and to learn more about enrolling.

5 Things to Consider When Choosing the Best F&I Training Program

When it comes to finding a lucrative, exciting field to join for a new career, the F&I industry offers something for everyone. Trained, successful professionals in the field can see a salary over $100,000 on average. Those who work in the field also get to employ a variety of skills and techniques in their jobs. Combining a love of numbers, computers, cars, and sales strategies, the professionals in this field have the chance to pursue their passions. Those who work in the industry know that no two days are exactly alike when working in the finance department of a car dealership.

The excitement of the field also means that those considering beginning this type of career want to carefully consider where they get their education. Those entering the F&I career path need to have a variety of skills and background knowledge before they can serve their car dealerships well. Car dealerships rely on the deals and loans organized by the F&I professional to help the dealership make money while also making their customers happy. The importance of the position means that those preparing to enter a training program will want to think carefully about what F&I educational program will work best for them.

A quick Google search will likely turn up a few different options, leaving prospective students wondering how they should evaluate their options and determine the best educational experience for them. Here are 5 criteria that we think all prospective F&I students should consider when selecting the institution that will give them the best education and the best shot at having a highly successful career in F&I.

Where are the classrooms located and how is the training conducted?

The F&I industry, as already mentioned, requires a lot of background knowledge. Professionals must understand a considerable amount when it comes to the loan industry and banking. They must know how to interpret a credit score report as well as how to construct loans that will appeal to the customer while also generating revenue for the dealership.

Additionally, professionals in this field must also consider their sales strategies. They will need to work together with the sales teams to promote products to customers, including helping them understand why particular deals, packages, and upgrades will benefit them. This involves a keen understanding of what customers want to see.

Students should look for a school that offers real classrooms and an opportunity to learn. Online classes or weekend seminars simply do not have the time or capacity to give students a thorough understanding of the field. Students will instead only receive a brief overview of the different important aspects of the industry. There will be few to no opportunities to actually work with F&I software to learn how to construct real deals. Experienced teaching staff who have worked in the field will be inaccessible. The knowledge imparted through a program like this will be minimal.

On the other hand, a reputable school like the Automotive Dealership Institute offers an intensive 4-week course taught in an actual classroom. At their fully-equipped campus in Scottsdale, Arizona, instruction comes from dedicated teachers who have a successful track record of helping countless other students learn the material and then find jobs in the field. Students have opportunities to work with the actual software they will use when they land their first F&I job. The rigorous exams they take throughout the program also ensure that they are able to retain and demonstrate the knowledge they gain as they go.

Students can be confident that when they finish their course at the Automotive Dealership Institute, they are well-prepared for the job.

What do past students say?

One of the best ways to evaluate the abilities of a particular school to adequately train F&I professionals is by looking at what past students say about the organization. A good school should have student assessments and reviews easily accessible. Prospective students should look to hear both from recent or current students as well as those who have attended in the past.

Do not only look at what these students say about the quality of the lectures or lessons. Students should also see if any of these students have actually gotten jobs in the industry and how they perform in those roles.

The Automotive Dealership Institute can offer prospective students countless testimonials about their program and the career success that their students have gone on to experience. With a job placement rate of over 90%, this school can also clearly demonstrate how the professionals here work to match students up with employers. The high job placement rate also indicates that car dealerships like to hire graduates from the Automotive Dealership Institute — they know they can trust the education the student received.

Does the school have any independent sources of content?

A school that students trust to educate them for an upcoming field should be able to demonstrate their credentials. They should have the knowledge and insight on the field that would lead to their publishing their own unique content.

A school that does not have any of its own copy-written material, particularly one that only uses public information or even training materials from other agencies, does not demonstrate that they can adequately prepare students to succeed.

The Automotive Dealership Institute, however, has literally ‘written the book’ when it comes to Auto Finance. Automotive Dealership Institute has even had their published materials included in the Library of Congress. In fact, many of the smaller F&I “schools” out there simply pull bits and pieces from ADI’s published materials.

Is the school listed and registered in each state’s Bureau for Private Post-secondary Education?

Each state tracks the schools and institutions that offer training or education for students. This system helps to protect students from unscrupulous institutions that try to trick students into paying them for education, but then offer very little substantial learning in return.

For a school to be listed with each state, it must prove to the state that it offers a quality level of education. The bureaus will look at factors such as the standards put forth by the institution and how the school handles complaints.

The Automotive Dealership Institute is registered with Arizona’s Bureau. In the 32 years that this school has worked to educate students in the F&I field, they have received excellent status with these bureaus.

How does job placement work following the completion of the course?

Completing the course is only the first step in this process. Students must also be able to find jobs in the field. They want to be able to put their education to use in this growing, exciting world of F&I.

Finding a job following the completion of a degree or certification is always a stressful process. There are many resumes to write and review as well as interviews to attend. Students often need guidance to successfully navigate these steps, particularly when it is their first time looking for employment in their new field.

However, remember that car dealerships count on these professionals to help them generate income for their dealership. They will, therefore, care tremendously about the training and expertise level of the professionals they hire to work in their finance department.

An F&I school that feels confident in the education they give and their ability to prepare students for their new jobs will also help them with the steps to find a job.

Therefore, students will want to see if the school offers any type of job placement assistance. Consider the type of help offered by the school. Compare that to the assistance you think you will need when you do complete your program and prepare to head out into the field.

If they do offer job placement assistance, look at their success rate. How many students are they able to secure jobs for following graduation and where are these jobs found? This will provide valuable information about the level of trust car dealerships have in the school and the level of investment the school has in the students they teach.

At the Automotive Dealership Institute, students have access to a highly supportive faculty ready to help them reach their goals. The school has placed students in dealerships across the country. They often have professionals in the industry come back to speak to students about work in the field. The students getting ready to apply for jobs, therefore, feel completely prepared to take those next steps.

When it comes to applying for jobs themselves, students can also turn to the helpful staff for help with their resume and guidance with interviews. This will help them get noticed during the application process and help them secure that desired job. This thorough process has led to this school boasting a consistent job placement rate of over 90 percent.

When it comes to finding a lucrative career path, entering the F&I industry can be a great place for people to get started. Taking the time to carefully evaluate possible school options can help students make the best possible decision and the wisest investment in their future. Consider the above criteria when making the decision for you.

Contact the helpful advisors at ADI today to learn more about their programs!

Finance & Insurance Continues To Be a Highlight for U.S. Car Dealerships

For those interested in finding a stable career that offers high income potential, the F&I industry continues to demonstrate outstanding potential. In fact, Automotive News found that total F&I revenue grew for dealerships an incredible 7.5 percent over the course of 2018. This was on top of the 6 percent revenue growth the industry saw in 2017.

This growth is also projected to continue in the coming years. Light vehicle production is projected to start increasing again in 2021 as well, which means that there will be ample opportunity for new professionals interested in building their own careers in the field.

For those interested in starting a career in this exciting field, here is what you need to know.

What Makes F&I Professionals So Important for Dealerships?

F&I professionals have a number of benefits that they offer their dealerships.

They help the dealerships bring in new clients while also helping customers afford the cars that they like. They need to have a solid understanding of finance, including how to interpret credit scores and how to construct loan options. They need to know how to create deals that will appeal to potential customers so that they can help the dealership bring in new buyers.

Not only must the deals they construct appeal to the customers, but they must also generate income for the dealerships themselves. Dealerships rely on F&I professionals to help them sell extras for their cars and encourage people to invest in their cars. They help them generate profits in a way that helps everyone involved.

With F&I revenue growing, as well as the increase in the production of light vehicles, dealerships will want to know that the F&I professionals they hire are ready to do this job well and help them generate strong revenue for their dealerships. However, not all training options for F&I professionals are equal, and dealerships know they want to hire only the most qualified candidates. When it comes to making sure that you have a solid understanding of the finances involved in constructing mutually beneficial deals and successfully navigating the field, aspiring professionals need to make sure that they have a solid education.

When it comes to getting this education, there is nothing better than an in-person, hands-on training experience led by seasoned industry professionals.

 

Securing the Best F&I Education

 

To take advantage of the growth and opportunity available in the F&I industry, professionals need to make sure that they find the right educational options that will prepare them for the field. The Automotive Dealership Institute is prepared to provide those interested in entering the field with the skills and knowledge they need to thrive.

The F&I industry requires professionals to have training not only in finance, but also in sales and customer engagement. It is a trade that truly requires a wide range of skills. No one will be able to thrive in the field if they do not have both sets of skills.

Similarly, these professionals also need to make sure that they understand the latest developments in the industry. They have to remain abreast of the latest trends and developments so that they can help their dealership make good sales decisions.

Finally, professionals should have a good understanding of the technology available in their field and how to use it. Technology has had an enormous impact on the F&I industry. Customers have begun to use it with increasing frequency to research their cars as well as their finance options. F&I professionals need to know how to use the software needed to help them create these appealing deals and understand the financing options for different customers. They also need to know how customers use the technology available to them so that they can engage these customers and know the types of deals that will still appeal to them.

 

The Difference the Automotive Dealership Institute Offers

 

There is only one school available for professionals that can give them this training. The Automotive Dealership Institute has been in educating emerging F&I professionals for decades and has helped their students get jobs in dealerships across the country. Since they have years of experience, they know what professionals need to thrive. They are also the only licensed institute in the field, offering a unique advantage to those who select their school.

Dealerships know that the students from the Automotive Dealership Institute have received a thorough education in automotive F&I. They know that they can trust these professionals to jump into their jobs and help the business thrive.

It is this trust that allows the Automotive Dealership Institute to boast a job placement rate of over 90 percent. They have dedicated job placement assistance services to help their students find jobs, including help with resume building and the chance to speak with other experienced professionals.

Those interested in becoming an F&I professional when transitioning out of the military will also be glad to know that the Automotive Dealership Institute proudly accepts most VA educational benefits including the Post-9/11 GI Bill to help pay for their education.

The F&I industry offers professionals an excellent opportunity for growth and a career in an exciting industry. America’s love affair with the automobile makes this a steady job, and the projected growth means that dealerships will be interested in hiring qualified employees. Pursuing an education from a qualified institution will set you up for the job you want and a bright future in the industry.

Contact the Automotive Dealership Institute today to see how a diploma from ADI can help you become an automotive F&I manager in as little as four weeks!

Getting the Most Out of Your Post-9/11 GI Bill® Benefits: A Career in F&I

Whether you’ve recently gotten out of the military or you’re getting ready to leave, thinking about the future can seem overwhelming. You will be living a different lifestyle than you did in the military, you’ll have more freedom to do as you please and you’ll need to start down a career path that will keep you satisfied for years to come. This can be one of the most difficult aspects of leaving military life behind you. The good news is there are many options from which you can choose and many of them can be funded with your VA educational benefits including the Post-9/11 GI Bill. One option you may not have thought about is the automotive industry, more specifically automotive finance and insurance. With the necessary training from a trade school program like the F&I training program offered at the Automotive Dealership Institute, this can a lucrative career path that can not only be satisfying, but can support your family so you can do all the things you’ve always wanted to do together that may have been limited by military life.

A Job in High Demand

While some jobs have high appeal, not all of them bring along the same level of opportunity to succeed. If you don’t make the right choice, you could find you’ve spent your time training for a job that doesn’t have many prospects, making it difficult to find a job in general. This isn’t the case when you train for a career in the automotive industry. There’s always a need for vehicles in today’s world, which means this field is always growing and there are always job opportunities to be found. However, being a salesperson isn’t always the best choice for everyone. It takes a certain level of skill and the right personality to be able to make a good living from the sales of vehicles. The good news is you don’t have to be a salesperson or even a mechanic to be successful in the world of automotive dealerships. In fact, these businesses are always looking for qualified individuals who can manage their finance and insurance departments, providing the right support for their sales staff and ensuring everyone who buys a vehicle from them has the information and funding necessary to be successful vehicle owners. With a job this high in demand, it only makes sense to make use of your Post-9/11 GI Bill benefits to fund your F&I education. At the Automotive Dealership Institute, you will get the training required to work in this field and land the job you need to be successful in your career after life in the military.

Earn a Solid Living

Chances are your biggest concern is whether you will be able to properly support your family now that you no longer have all the benefits being in the military offers you. While you still have access to resources and certain benefits after you retire from the military, including free or greatly discounted education through the Post-9/11 GI Bill, you still likely need to find a career that offers a salary you and your family can comfortably live on, helping you save up for the day when you will retire from work entirely. If you’ve been considering a career in automotive F&I, it’s important to realize the financial potential present with this type of job. In fact, those who work in the area of finance and insurance within the automotive industry, particularly those who reach management levels, can easily earn over $100,000 per year on average, which is much more than many other career options individuals enter into after a career in the military. This makes it the perfect option for those who have a spouse who wishes to stay home and raise the family or those who want to enjoy a comfortable lifestyle with plenty leftover to put away for the future and help support their children as they grow and follow their own dreams. As long as you get the right F&I training, such as that offered by the Automotive Dealership Institute, you can set yourself up to be earning this type of salary in the near future.

Get Fast, Effective Training

Once you make the decision to get an F&I education from the Automotive Dealership Institute, you will find this is the best use of your Post-9/11 GI Bill benefits. When you choose this school, you will receive hands-on training in-classroom at ADI’s beautiful campus. Your training will be completed in just four short weeks, putting you on the path to a career much more quickly than if you needed to earn a 2-year or even 4-year degree like you would need for many other jobs. The field of finance and insurance in the automotive industry is information sensitive. It’s essential to provide customers with the appropriate information to help them make the smart choice when it comes to buying a car. After all, the customers are counting on you to help them determine how much they can afford, both for the vehicle itself and the other costs associated with it, such as car insurance, maintenance and more. In addition, any dealership you work for will also count on you to work hand-in-hand with their sales staff, especially when changes to the financial industry occur, so everyone is on the same page when talking to customers. The Automotive Dealership Institute provides the level of training you need to be the best employee for the job, giving you a much higher chance of being hired by dealerships.

If you’re looking for a licensed, legitimate F&I training program that accepts funding from your Post-9/11 GI Bill benefits, the Automotive Dealership Institute is your best choice to get you on the path to a career in this field as quickly as possible.

Contact ADI’s helpful advisors and VA liaison today to learn how you can get started toward a rewarding career in automotive F&I using your VA educational benefits!

F&I Integration With Sales

A Finance Department cannot operate alone. To fully realize its income potential, the Finance Department must have an outstanding working relationship with every other department within the dealership. This is accomplished by fostering a professional work environment among all dealership management and support personnel. This, in turn, helps generate sales.  While this cooperation is required dealership-wide, nowhere is it more vital than between the Sales and Finance Departments. In fact, how successfully a dealership’s Sales and Finance Departments internally relate to one another largely determines whether or not the dealership itself will succeed.

 

Interdepartmental Communication

 

Attending sales meetings shows the salespeople that the finance manager is a team player and is open to questions and discussions. This is also a great opportunity to train the salespeople on very crucial matters, such as the proper introduction to finance, how to promote F&I products on the sales floor, and the benefits of all the available services. If they understand what happens in the Finance office and the benefits of the services, they will be more inclined to influence the customer in a positive way toward finance.

 

Management meetings give the dealer a chance to review successes and failures with each department and solve problems. It is important for the finance manager to attend management meetings because it gives the finance manager an opportunity to learn the operations of the other departments and to understand their problems and accomplishments. This perspective often leads to better communication.

 

Ultimately, this cooperation between the Finance and Sales Departments can translate into success for the entire store. When member of Sales and Finance lead by example, their practice of respectful, consistent interaction helps the dealership craft the right “game plan” for the entire dealership.  After all, they’re all players on the same team.

 

To learn more about the relationship between the F&I and sales departments and how they help each other succeed, check out these articles:

 

The Benefits of In Classroom Training vs. Online Programs For F&I

If you are considering a career in automotive finance and insurance, it is best to complete a training program first to ensure that you have the skills and knowledge you need to do the job right. However, not all F&I training programs offer the same quality of instruction and results. For this reason, it is important to compare your options carefully. In this article, we will discuss the difference between in-classroom and online training, as well as the advantages that make in-classroom instruction the better choice for most students.

In-Classroom Instruction vs Online Training

When it comes to F&I training, you have two primary options: in-classroom study and online study. While in-classroom study requires you to attend classes and take all exams in person, online study allows you to complete the entire program at home or in any location that offers an internet connection. Although both of these program structures offer certain advantages, most students interested in an F&I career will benefit more from an in-classroom F&I training program.

Advantages of In-Classroom Instruction

Some of the most notable advantages of in-classroom instruction programs for F&I management students include:

  • A set schedule. – When you opt for an online F&I program, you will be responsible for setting your own schedule and making sure you learn all the material in the right timeframe. For people who have limited time management skills, this can be quite difficult. In-classroom programs, on the other hand, require you to attend scheduled sessions, which ensures that you are able to keep up with the program.
  • Hands-on training. – Although online instruction may be more convenient for some students, nothing can replace hands-on training. When you complete your F&I training in person, you will have real life experiences that will translate seamlessly into the field when you begin working. You will be working with real deals, gaining real experience.
  • A chance to use the software. – As an F&I manager, you will be responsible for using a variety of software programs to do your job. In-classroom programs give you a chance to work hands on with real F&I software so you can be sure you know how to use it before you are required to do so on the job.
  • Direct interactions with instructors – Although you will receive quality instruction during an online program, there is no substitute for interacting directly with your instructors and receiving in-person, immediate feedback. For most students, this leads to better retention and more confidence, which translates to greater success as an F&I manager.

Being in an in-classroom F&I program is like working in a real F&I office. You will get experience working with real lenders’ guidelines and structuring deals with real F&I software. It’s like a trial run for your actual career. With one of these programs, it takes as little as four weeks to change your whole life.

When to Choose an Online Program

In light of the advantages listed above, it is clear that in-classroom training offers benefits that cannot be duplicated by an online program. Nonetheless, online programs may still be a good option for certain students. You may consider enrolling in an online F&I management program if:

  • You have travel issues. – If you are unable to travel to the location of the in-classroom program for all of the scheduled sessions, it may be necessary to opt for an online program instead.
  • You have time constraints. – Even if travel is not a concern, you may not be able to participate in an in-classroom program if you are unavailable during the scheduled sessions. For example, if you have a day job and you cannot change your schedule to accommodate your classes, online learning may be the only option.
  • You have other obligations. – For some people, taking the time to complete an in-classroom instructional program is impossible because of other obligations, such as children. In such cases, you may need to complete your program at home.
  • You cannot afford to study in the classroom. – Online programs typically have lower associated costs than in-classroom programs. If you can’t afford the in-classroom tuition, you can still get great value from an online option.

If you fall one or more of the categories above, an online education is still better than entering the field unprepared. But, if you are able to make the sacrifice, studying in the classroom is well worth it and will set you on path for a career in a very high-income position.

Studying F&I Management at the Automotive Dealership Institute

Automotive Dealership Institute is the only licensed, independent Finance & Insurance Manager School in the entire United States, and it is the only school of this type to provide an actual diploma to its students. We literally wrote ‘the book’ on F&I, as our textbook was the first book on Auto Finance that was accepted to the Library Of Congress. With as little as four weeks in our program, you can be on the road to earning a high salary in an exciting career as an F&I manager. We offer job placement in all 50 states, ensuring that you are able to find the position you need as quickly as possible. Contact ADI today to learn more about our program or to begin the enrollment process.

AFIP Certification as a Supplement to F&I Training at ADI

AFIP Certification is a specific credential that may help you to raise your appeal as an employee as you begin your career as an F&I manager. Many people entering the F&I training program at Automotive Dealership Institute inquire about this credential and how it can impact their careers. Below is some basic information about AFIP Certification and how it can help you.

What Is AFIP Certification?

AFIP Certification is a specific certification issued by the Association of Finance and Insurance Professionals. The purpose of this certification is to show that the individual has completed an appropriate training program and that he or she has the skills and knowledge necessary to work both ethically and efficiently as a F&I professional.

In order to qualify for this certification, you must complete specific courses developed by the Association of Finance and Insurance Professionals. These courses cover a variety of topics, but most courses cover issues related to ethics and law as they apply to finance and insurance. Several different levels of courses are provided, and you will progress through these courses to reach the levels of “Master” and “Senior.”

How Does AFIP Certification Relate to F&I Training?

AFIP certification is not the same as F&I training, but can be used to supplement a well rounded hands-on F&I training program. The focus of AFIP courses is specifically on law and ethics, while ADI’s F&I training program covers all aspects of the F&I management job, from interpreting credit scores to selling supplemental products. Thus, people who are completing or have completed F&I training with ADI may benefit from obtaining AFIP certification as well. However, this certification is not a substitute for training in a licensed F&I program.

Benefits of AFIP Certification

AFIP certification offers specific benefits for F&I professionals. Some of these benefits may include:

  • Advantage over others in the field – Extra study completed in order to gain AFIP certification gives F&I professionals an advantage over other people in the field.
  • More effective in dealing with customers – AFIP courses teach F&I professionals how to be more professional with customers and to build rapport more effectively.
  • Better understanding of legal requirements – F&I professionals who complete an AFIP certification have a better understanding of laws related to the finance and insurance industry, as well as ethical standards.
  • Advanced skills – In order to become certified by the AFIP, a professional must develop the skills needed to sell F&I products effectively and with confidence.
  • More appeal to employers – When an F&I manager has an AFIP certification, employers can be more confident in the individual’s ability to follow laws and adhere to legal requirements, thus reducing the risk of compliance issues and customer complaints.

Obtaining AFIP Certification

In order to obtain AFIP certification, you will have to complete a specific course. Several different course options are available directly from the AFIP, including a Basic Certification Course, Master Certification Course, Senior Certification Course and Executive Lifetime Master Certification Course. Each of these courses will require payment, which can sometimes be covered by your employer depending whether they require the certification. You will also need to pass examinations before you obtain certification. Keep in mind that you must follow the step-by-step instructions established by the AFIP in order to become certified.

The Importance of F&I Training

A career as an F&I manager gives you an opportunity to work in a growing field, earn a handsome salary and make customers’ dreams of owning a vehicle come true. When you work in this field, you will be responsible for performing a variety of important functions. Specifically, you will help consumers obtain financing to purchase the vehicle they have chosen, insure their new vehicle and complete all the necessary paperwork. You will also be responsible for promoting and selling some of the dealership’s most lucrative products. Because you have so many important responsibilities as an F&I manager, you will need an expansive knowledge basis and an array of skills in order to succeed in this field.

Although AFIP certification offers clear benefits for people interested in a career as an F&I professional, it cannot replace the value of a well rounded, hands-on F&I training program. These programs cover a range of topics that aren’t included in AFIP certification courses, making them essential for future F&I managers. Before you enter the field and begin looking for a job, you need to complete an appropriate comprehensive training program such as the one offered at ADI.

At ADI, we offer a finance and insurance program that has been carefully developed to cover all subjects you need to understand in order to work as an F&I manager, including dealership operations, deal structuring, lender relations, the latest F&I software and much more. Our courses also cover state and federal laws so students can be fully prepared to enter the field and begin working.

Automotive Dealership Institute’s entire F&I training program can be completed in just four weeks. We also offer job placement assistance for graduates in all 50 states. In fact, we are able to help over 90 percent of our graduates find a suitable F&I management position within 90 days of graduating from our program. Please contact ADI today to learn more about our program or to begin the enrollment process.

Finding The Best F&I Training and Certification Program

A career as an automotive F&I professional offers you a variety of potential benefits, from job security to a handsome salary. However, preparing for a job in this field may seem overwhelming at first, especially if you aren’t sure where to start.

If you are interested in a job as an automotive F&I professional, the best thing you can do to ensure that you have the best chance of success is to get the proper education. Here are a few things to consider as you compare your options and choose the program that’s best for you.

Is a Formal Education Really Necessary?

Some auto dealerships may be willing to take on an F&I professional who doesn’t have formal training. However, without proper training, you won’t have the knowledge and skills you need to be successful in this position.

F&I professionals have many important responsibilities within an auto dealership. Not only do they help customers secure the financing they need to purchase a vehicle, but they are also tasked with selling some of the auto dealership’s more lucrative products. Each of these responsibilities requires specialized training. Some of the specific skills you will need as an F&I professional include:

  • Understanding how auto loans work.
  • Understanding of the credit industry.
  • Ability to interpret credit scores.
  • Ability to use technology efficiently.
  • Sales skills.
  • Interpersonal communication skills.
  • Math skills.

If you try to begin your career without all the knowledge and capabilities required to do the job well, your chances of success won’t be as high. In fact, if you enter the job market without the skills you need, you may find it much more difficult to find a job. Most employers want to hire an F&I manager who already has the skills they need and won’t need training. Even if you find a job without getting any training in advance, you will most likely struggle when you begin working. You won’t know how to use the technologies you are expected to use, nor will you understand all the intricacies of credit, auto financing and the other issues you need to understand in order to do your job properly.

Choosing the Best F&I Training and Certification Program

Regardless of your goals as an F&I professional, you need to attend an appropriate F&I training and certification program in order to give yourself the best chance of success. With multiple training and certification programs available, it can be challenging to find the right one. Here are some of the things you should consider as you compare your options:

1. The school’s reputation.

One of the most important characteristics to consider when comparing training and certification programs is the school’s reputation. The school’s reputation gives you insight into the experiences of past students, which will give you an idea of what you should expect when you attend your program. The Automotive Dealership Institute has an excellent reputation for providing a quality educational program and supportive services for graduates.

2. Licensure.

Not all F&I training programs are licensed. In fact, ADI has been the only licensed F&I training and certification program in the country for the past three decades. This institution has a history of providing quality services to all students and will continue to strive for excellence.

3. Courses included.

Before choosing any F&I program, you need to make sure the program you choose includes all the topics you need to study in order to be a successful F&I manager. At ADI, we have designed our courses to cover all the skills and knowledge you will need as an F&I manager. We will teach you how to interpret credit scores, evaluate buyers’ income and help them find the best financing option for their needs.  We will also teach you the skills you need to be able to effectively promote and sell the special products your dealership offers.

4. Job placement.

Not all F&I training and certification programs offer job placement services to their students. However, ADI is proud to offer these services to every one of our institution’s graduates. In fact, we are able to generate job leads for graduates in all 50 states. Approximately 90 percent of our graduates are able to find a suitable position within 90 days of completing their program.

5. Length of program.

If you are hoping to begin a career as an F&I professional, you don’t want to spend months or years in training. It is best to look for a program that will get you the knowledge you need in a reasonable amount of time. ADI strives to help students complete their training as quickly as possible so they can begin working. Our F&I training and certification program is one of the best choices available for any individual interested in beginning a career in this field. With our help, you could be done with your training and actively searching for a job in as little as four weeks. Please contact ADI today to learn more about how you can begin this exciting career.

F&I Training and Techniques: Rebuttal for “I Don’t See The Value”

In this video, you’ll see an ADI graduate demonstrate how to correctly and appropriately respond to a customer’s concern that they “don’t see the value” in certain aspects of a deal.

To learn more about the F&I Training program at ADI, get in touch with our helpful advisers today!