Being a F&I consultant is one of the best positions at a car dealership. As a matter of fact, it’s one of the best-paid positions in a car dealership. If you’re interested in pursuing a career as a F&I consultant at a car dealership and want to be the best, you’re going to need a game plan. Here’s a look at 6 steps you can use as a blueprint for becoming a top F&I consultant.
1. Get Training on F&I Technology
Getting training on the various F&I software programs and technology you will use will give you the tools needed to become proficient in the industry. With the rise of technology in the car industry, it’s critical to learn how to use the various software and platforms. In order to succeed as a F&I consultant, you’ll need to know about the latest technology in the industry. This knowledge will help put you on top of your game. And when it comes to F&I education, Automotive Dealership Institute is the absolute best. This institute is the only licensed and government approved automotive F&I trade school in the US. The Automotive Dealership Institute has trained F&I professionals for dealerships for over three decades. Not only do students learn about lease calculations, Federal laws, finance products and non-prime finance lenders, they also learn about the latest generation in finance software. At the Automotive Dealership Institute, you engage in hours of supervised lab time using automotive F&I software. This hands-on experience makes you a seasoned professional as instructors carefully track each student’s progress.
2. Engage Customers
No one likes to be bored. Engage your customers with digital touch technologies, such as big screen TVs and tablets. At the Automotive Dealership Institute, you’ll get to practice with different media, including using video presentations with your customers. Learn how to implement all of these tools, so your customers stay engaged in the sales process. All of these tools help engage customers in the sales process while teaching you how to best meet your customer’s needs.
3. Utilize Talk Track Training
If you don’t know how to manage the flow of conversation with a customer, you won’t make the sale. Consistency and relevancy are key factors in a customer’s buying decision. You need to know your customer’s needs and be consistent with how you can meet those needs. And with talk track training, you can get to practice at every stage through the sales process. You will be equipped with effective ways to handle objections from different angles and even prevent objections before they happen. Talk track training will help you uncover your customer’s needs and enhance your sales ability.
4. Exercise Persistence
Just because you hear the word “no”, doesn’t mean it’s really “no”. Give customers several chances to buy from you. Many financial products and service agreements often require multiple trial closes. And when you persist, you sharpen your sales skills. Be sure to present multiple options in multiple ways. At the Automotive Dealership Institute, you will have plenty of opportunities to engage in mock sales trials in order to hone your overcoming objections skills.
5. Be a People Person with a Good Story
When it comes time to crunch numbers during the purchase of a vehicle, there’s a lot of downtime waiting. This is the perfect time to become a people person with a good story. It’s critical to be able to tell a great story when you’re trying to sell anything. For example, you could use this waiting time to tell your customers how the various services and products you have sold have helped people in the past. This is sure to get an emotional response from your customer. Think about the various stories that you can use and start to tell them to your customers. Your customers will begin to relate to the benefits of your product or service. When it comes to working in the finance and insurance department at a dealership, people skills cannot be underestimated.
6. Be a Good Listener
When you carefully listen to what customers say, you discover what they need, especially in finance and insurance. It’s likely that some people will have some limitations that will affect what they are able to purchase. Sometimes, people aren’t exactly clear, and that’s why it’s very important to really listen to what your customers are saying. Don’t forget about body language either. That way, you’ll be able to pick up on the little things that aren’t being said. Remember, “A picture is worth a thousand words”, and a customer’s body language may as well be a detailed portrait of what they are thinking and feeling.
If you are looking to get the professional training you need to become a top-earning automotive F&I consultant, turn to the F&I Training Programs offered at the Automotive Dealership Institute. This experienced and innovative training institute has trained hundreds of others and can train you, too.