Program Outline MODULE 1
DAY 1 WELCOME TO AUTOMOTIVE FINANCE
DEALERSHIP RETAIL OPERATING SYSTEM
DealershipOrganization and Development
Dealership Trends
Dealership Management Structure
Dealership Terminology
Dealership Sales Methodology
DAY 2 VEHICLE SALES TRANSACTION
The Greeting / Welcome
Understanding Customer Needs
Vehicle Presentation
Vehicle Demonstration / Trial Close
Vehicle Appraisal
Purchase Consultation / Negotiations
F&I Department / Proper Intro
Delivery
Follow-Up
DAY 3 FINANCE SOFTWARE
Logging on to the System
Keyboard Function Keys
Transactions Menu
Creating a Retail Deal
DAY 4 LEASING
Introduction to Leasing
Leasing Glossary
How Leasing Works
Lease Guidelines, Residual
Money Factor, Depreciation
Lease Charge, Lease Payment
Dealer Installed Options
Excess Mileage
Drive Offs
DAY 5 LEASING
Creating a Lease Deal
Lease Agreement
Lease Disclosures
Advertising Consumer Leases
Practicing Lease Calculations
Program Outline MODULE 2
DAY 1 FINANCE PRODUCTS
Extended Service Contract
Vehicle Maintenance Care
Guaranteed Auto Protection
Satellite Tracking System
Remote Vehicle Security System
Vehicle Tracking/Recovery System – Lojack
Code Marking System
Interior and Exterior Protection
DAY 2 FINANCE AND INSURANCE — PRIME
The F&I Department: A Dealership Profit Center
Basic Finance Definitions
F&I Department and F&I Manager
Finance Terms and Common Dealer Practices
INTEREST/FINANCE CHARGE CALCULATIONS
Interest and Calculations
APR and Add-On
Simple Interest
Rule of 78’s
Calculating Finance Reserve
Dealership Participation / Rate Caps
DAY 3 LAWS, RULES AND REGULATIONS
Regulation Z – Truth In Lending
Regulation M – Leasing
Regulation B – Equal Credit Opportunity Act
Fair Credit Reporting Act
Magnusson-Moss Warranty Act
Used Car Rule
Holder In Due Course
IRS Cash Reporting Rules
USA Patriot Act
OFAC — The Office of Foreign Assets Control
Gramm-Leach-Bliley Act
The Privacy Rule
The Safeguards Rule
F&I Regulations/Disclosing Procedures
DMV
DMV Rules, DMV Forms
Dealership Forms
Printing Forms
DAY 4 CREDIT AND PRIME LENDING
Credit Application Procedures
Understanding Credit Bureaus
How to read and analyze Experian
Prime Lending and Loan Process
Dealing with Lenders
Credit Unions
Lane Guide
DAY 5 LOAN STRUCTURING
Four C’s of Credit
Structuring and Placing the Loan
Lender Guidelines and Qualifying
Using Advent to Structure Loans
Practicing With Real Deals
RouteOne Financing Platform
Program Outline MODULE 3
DAY 1 FINANCE AND INSURANCE — NON-PRIME
Introduction and Benefits of Non-Prime Finance
Non-Prime Finance Terminology
Overview ofNon-Prime FinanceLenders
Non-Prime Deal Structure Guidelines
Advance / Amount Financed / Budget / Credit / Customer Profile
DAY 2 FINANCE AND INSURANCE — NON-PRIME
How to Read and Interpret Lenders’ Guidelines
Structuring Non-Prime Real Deals
Loan Process and Funding
Income Calculations
DAY 3 FINANCE AND INSURANCE — NON-PRIME
Credit Bureaus
How to read and analyze Experian
How to read and analyze Equifax
How to read and analyze Trans Union
Budgeting for Non-Prime Lenders
Calculating Income for Budgeting Purposes
DAY 4 FINANCE AND INSURANCE– NON-PRIME
Special Finance Department Organization
How to Set Up a Successful Special Finance DepartmentSetting Up Procedures
DAY 5 DEAL STRUCTURING
Structuring Special Finance Deals
Practicing With Real DealsProMax Online – Special Finance Software
Program Outline MODULE 4
DAY 1 INTRODUCTION TO INTERNET FINANCE
Automotive Web Sites
Internet Car Buying Process
Effective Selling and Closing
DAY 2 F&I MENU SELLING PROCESS
Proper Introduction to Finance
CUSTOMER INTERVIEW PROCESS
Meet & Greet
Reviewing the Credit Application
Reviewing the Credit Report
Reviewing the 4 Square
F&I MENU SELLING PROCESS
Product Presentation
FINANCE MENU PRESENTATION
CSI
Profit
Legal Compliance
Time Efficiency
The 100% Rule
Trial Close
Up-Selling on a Selected Plan
CONTRACT DISCLOSURES
DAY 3 OBJECTION HANDLING
Overcoming Customer Objections
GENERAL OBJECTIONS
“I Don’t Need It”
“I Don’t Want It”
“I’ll Take My Chances”
COST OBJECTION
“I Can’t Afford It”
“Minimize Cost”
PRODUCT OBJECTIONS
ESC vs. Manufacturer’s Warranty
Reverse Sale of ESC
ESC vs. Unexpected Costly Repairs
99.9% Close
ESC Price Objection
Satellite Security System vs. Alarms
Satellite Security System Coverage Objection
GAP vs. Out-of-Pocket Expense
Anti-Theft System vs. Out-of-Pocket Expense
Appearance Package vs. Lost Value
Dealer Alarms vs. Outside Installed Alarms
Word Tracts
Practice Objection Handling
DAY 4 PRODUCT PRESENTATION
Goal Setting and Forecasting
Practice Product Presentation
Practice Presentation for Video
INTERVIEW TECHNIQUES
Dealership Interview Techniques
Practice Presentation for Video
DAY 5 VIDEOTAPING
Final Videotaping of Presentation