F&I Articles, News & Information
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Veterans and F&I Training: A Path for Success

Following their time in the military, many veterans decide to enter the civilian workforce. Veterans may decide to work in order to earn income, fill their time and/or feel more productive. Regardless of the reason you decide to find a new job, selecting the right career path can be a challenge. For many veterans, a career in automotive finance and insurance management may be the best choice. 

About Automotive F&I Management

An auto dealership’s finance and insurance department is responsible for some of the most important aspects of the vehicle purchase process. The professionals who work in this department will spend time helping buyers to secure the financing they need in order to purchase the vehicle of their choice, as well as making sure the purchase is properly insured. This process involves many calculations and extensive paperwork. F&I managers also attempt to sell some of the dealership’s more lucrative products, such as vehicle purchase add-ons and extended service contracts. Because these products make up a significant portion of the dealership’s overall profits, F&I managers must be able to sell them effectively. 

In order to be successful as an F&I manager, individuals must possess certain characteristics. For example, skilled F&I managers are typically good with numbers, as they must perform intricate financial calculations on a daily basis. Effective F&I managers will also have an in-depth understanding of the auto purchasing and financing process, as well as excellent interpersonal skills. F&I managers need to be able to build trust and rapport with buyers quickly. 

F&I Management for Veterans

For veterans looking to transition into the civilian workforce, F&I management is an ideal choice. This career path does require training, but the amount of time you must spend in training is short when compared to most other options. In addition, F&I managers have the potential to earn a high income. Most auto dealerships pay their F&I managers a combination of salary and commission. Commission payments will be based on the extra products sold, giving F&I managers an opportunity to boost their earnings considerably if they can move these products well. In fact, the average income for professionals working in this field exceeds $140,000 per year, making this one of the most lucrative job options for veterans. 

Training for Veterans Entering F&I Management

In order to become an effective F&I manager, veterans who are planning to enter this field need to seek the appropriate training from a reliable institution. Without this training, you won’t have the best chance of achieving success in your new career. The purpose of F&I training is to provide you with all the knowledge and skills you need to work in this field. For example, during your training program, you will learn about the details of the car financing process. You will also practice interpreting credit reports and making some of the intricate calculations you will need to make on a daily basis. In addition, you will practice other valuable skills, such as interpersonal interaction and sales skills. 

At Automotive Dealership Institute, we have been training F&I managers for more than three decades. We have also been the only licensed F&I trade school in the nation during this time. With our training program, veterans can finish their training and enter the field in as little as four weeks. This short program will give you all the resources you need to begin a successful F&I management career upon graduation. 

Following the program, veterans will be trained and certified to work in virtually any F&I department in the United States. In addition to offering an ideal training experience for prospective F&I managers, our institution is also proud to offer job placement assistance in every state across the country. With our assistance, more than 90 percent of our graduates are able to find a suitable F&I management position in the first few months following completion of the program. 

Funding for Veterans in F&I Training

One of the greatest advantages for veterans who want to enter the field of F&I management is the availability of funding. Veterans who qualify for educational benefits under the Post 9/11 GI Bill® can use their benefits to pay for training at Automotive Dealership Institute. These benefits can be used to cover nearly all of the expenses associated with the training program, including the program’s tuition, additional fees and book costs. If you need to relocate in order to attend the program, these expenses may be covered as well. 

At Automotive Dealership Institute, we have personnel who are dedicated to helping veterans use their benefits under the Post 9/11 GI Bill to pay for their F&I management training. With our help, you can find out whether you qualify for these benefits, complete the application process and have the benefits sent to our institution with ease. If you are interested in accessing your benefits under this bill, contact Automotive Dealership Institute today and we will help you get started. We are also available to answer any other questions you may have about our F&I management training program. 

Post-9/11 GI Bill® Benefits Overview for 2020

Since 1944, the United States has passed a series of bills that have helped members of the military pay for their education. The GI Bill makes it significantly more affordable for those who have honorably served the country to get the training and degrees they need to further succeed.

The Post 9/11 GI Bill® offers a variety of benefits for members of the military and their families. Let’s explore how this bill can help service members.

Who is eligible for the Post 9/11 GI Bill?

Members first become eligible for benefits through the Post 9/11 GI Bill when they complete 90 days of aggregate service after September 11, 2001. The longer they serve, the more benefits they become eligible for. Once a member of the military reaches 36 months of service, they become eligible to receive 100 percent of the G.I. Benefits. You will need to either be an active duty service member or an honorably discharged veteran to receive the benefits.

If you served for 30 continuous days on active duty but then had to be discharged due to a service-related injury, then you also receive 100 percent of the benefits through this bill. Similarly, anyone who received a Purple Heart, regardless of how long they served, receives 100 percent of the eligible benefits.

Those who qualified for their benefits before January 1, 2013, will need to use their benefits within 15 years of qualifying. However, this time constraint was removed for those who earned their benefits after the beginning of 2013.

With the Post 9/11 GI Bill, service members also have the option of transferring their unused benefits to a family member. This means that spouses or children can receive help with their career training or college education if their military parent or spouse does not need to use the benefit funds.

What does the Post 9/11 GI Bill help with?

The Post 9/11 GI Bill helps those who have honorably served to pay for their education. The money from these benefits can help obtain a variety of different types of education. Those who want to pursue secondary education and earn either an undergraduate or graduate degree can use the funds to do that. 

The Post 9/11 GI Bill can also be used to help with vocational or technical training, on-the-job training, licensing and certification reimbursement, entrepreneurship training, flight training, and other forms of accredited, reputable job training options.

Those using these funds to help them pay for their degree can use the funds for up to 36 months. In addition to providing tuition costs and book costs, many former military members can also use the funds here for a monthly stipend to help them afford housing expenses. Certain qualifying members can also use the funds to relocate, particularly if they live in a very rural region and would need assistance getting to the area of their school.

Your position within the military will impact the type of benefits you can receive. For example, if you are still active duty, you or your spouse generally cannot receive the monthly housing allowance or relocation benefits. Veterans, however, can receive these benefits.

With the GI Bill, you can receive up to the full resident tuition for public schools of higher learning or career training. Since all public schools have to offer their resident tuition rates to veterans who have been out of the military for less than 3 years as well as the dependents who are using the benefits transferred to them, this means the bill will cover the full tuition cost.

You do have the choice of attending a private school. In this situation, however, the benefits will pay a maximum amount, which currently is set at $24,476.79. The difference in tuition the student will need to make up themselves. 

The housing allowance that many military members also qualify for is based upon where the student attends most of their classes. This means the amount can vary from location to location.

What is the Yellow Ribbon Program?

The Yellow Ribbon Program is the name of a provision included in the Post 9/11 GI Bill. It is designed to help students who may find themselves facing extra out-of-pocket expenses that were not covered by the standard tuition benefits. 

This program is not offered at all schools, only those that have entered into an agreement with the VA to offer it. Not all students will qualify for these additional benefits. Those who want to take advantage of these additional benefits should investigate if their desired school offers these programs and what qualifying factors would apply.

What those interested in the Post 9/11 GI Bill should do

Veterans or active-duty military members and their dependents who want to take advantage of the incredible opportunity offered by the GI Bill should carefully review the qualifying training and degree programs and consider what fields might appeal to them. Look at the schools that offer their desired degree programs and training opportunities and make sure that the institution is legitimate and qualifies to receive GI Bill funds. 

Those interested in going back to school should think about the potential fields that fit them well on a personal level. They should also uncover potential opportunities that would offer them financial stability and a strong market for finding jobs.

We find that these traits often entice many people to investigate the automotive F&I industry. These jobs offer an average salary of $142,855 and strong job placement rates, as car dealerships across the country want to find professionals who can help them negotiate deals and manage the finances of selling cars.

The Post 9/11 GI Bill makes it easier for members of the military and their dependents to make the transfer to civilian life. Consider what jobs might fit you best and see how this bill can help you achieve your dreams.

Do I Need Previous Experience to Get a Job as an F&I Manager at an Auto Dealership?

Making a career change can be a difficult process, especially if you aren’t sure what kind of experience you’re required to have. If you’ve been thinking about making the leap to work as an F&I manager at an auto dealership, you may wonder if you need to have any prior experience with car dealerships or selling cars in general. In short, the answer is no. Anyone who is interested in a career in this field can do so with the right education. The following will help you decide if you want to enroll in a program like the one available at the Automotive Dealership Institute, which offers a four week, 160-hour course to train you to be an effective, indispensable employee.

A Rewarding Career Prospect

When most people are considering what they want to do with their lives, they want a career that not only offers the type of money they need to live a comfortable life, but they also want something they will enjoy doing. If you’re someone who enjoys working with numbers and wants to help people get into the car of their dreams, working as a finance and insurance manager at a local dealership can be the perfect opportunity. With the right training, this career can open up a path to making plenty of money so you can comfortably provide for your family. In addition, you will have the satisfaction of helping your customers get behind the wheel of the car they’ve always wanted without breaking their budget. It will be up to you to guide them in making the smartest financial decisions for their vehicle needs.

What Skills Do You Need?

In addition to taking courses with the Automotive Dealership Institute, there are certain skills you either should have or should learn before you begin working in this career field. The ability to work with people and provide quality customer service is an absolute must since you will work exclusively with the customers who come into the dealership to buy a car. Some experience with sales can be beneficial, but it certainly isn’t a requirement and it doesn’t have to related to cars at all. For instance, if you ever worked retail as a cashier, you may already possess many of the skills you’ll need to sell additional products to customers. You will also need skills related to accounting, finance and technology skills to understand and work with the products available. You must have a strong work ethic and be a self-motivated worker because many of your duties will rely on your own motivation to get done. While you will answer to the owner of the dealership and potentially a higher level manager, you will be working as a manager yourself.

How a Training Program Works

When you enroll in the automotive finance and insurance management course through the Automotive Dealership Institute, you will get the training you need to prepare yourself for work in this field. First and foremost, you will learn about the basics surrounding the financing process so you can help your customers get the financing they need to get behind the wheel of the vehicle they want. You will learn how to effectively use the technology and programs required to go through the financing process, as well as provide the other products you may need to sell. The course also explores credit scores and how they work, math skills, interpersonal skills and more so you will be fully prepared for what lies ahead in your automotive finance and insurance career.

What Happens After You Complete the Coursework

One of the first steps individuals need to take is to complete the four-week program available from the Automotive Dealership Institute. After this, you may wonder how you will find a good job at a dealership. When you take your courses through ADI, you don’t have to worry any longer. They offer a job placement program for those who graduate and have connections with some of the biggest dealerships throughout the country so you are sure to find a job wherever you would like to live. This means, unless you would prefer to remain where you are, you can find areas where finance and Insurance management jobs pay higher, such as New York, Massachusetts and other states in the New England area, helping you create the career path you’ve always dreamed of.

What Can You Expect to Make?

Before you get started on your training, you may first wonder how much you can really expect to make when you enter this field. After all, it’s difficult to believe you could make a significant amount of money from the start with any job. However, managers in the finance and insurance aspect of auto dealerships are in high demand. Because of the specialized skill set and training required to do the job well, if you go through a industry-recognized training program, you can expect a high offer. The exact amount of money you can expect to make will vary depending on the cost of living in the area in which you work, but in general, you can expect to see an average salary of nearly $100,000 per year. Many people mistakenly think anyone involved in the automotive industry makes their money based on the number of cars sold and the value of those cars. However, this is often no longer the truth. Many dealerships have switched to a model of paying their employees a specific wage, which inspires them to work harder without having to push more expensive models on their customers. This is a win for everyone involved because customers get behind the wheel of a vehicle they can afford and those who work at the dealership, such as in finance and insurance management, can earn a great wage.

If you’ve been thinking about making a career change and entering the field of automotive finance and insurance management, there’s no better time to sign up for the program at the Automotive Dealership Institute.

What is a Finance and Insurance (F&I) department?

The finance and insurance department, or ‘F&I’ department, at automotive dealerships is where the dealership builds their revenue streams by constructing deals with customers and selling additional products and services. These professionals play a direct role in the success and growth of the business and, when properly trained, can achieve incomes that easily pass $100,000, making it an excellent career investment.

Before investigating this potential career path, however, many people want to know exactly what a finance and insurance (F&I) department at a car dealership is. People interested in pursuing this particular career path often have not worked in car dealerships before, and therefore they want to learn more about the importance of this department and what exactly they would need to do on a day-to-day basis.

Here is what all interested professionals should know about the F&I department.

The role of the F&I department in the car-buying process

The F&I department is staffed with experienced professionals who have the training needed to understand all of the financial aspects of car buying. A quality F&I education includes a thorough understanding of how to interpret credit scores as well as how to structure and understand loans.

Remember that most people do not buy cars with cash. Instead, they rely on loans to allow them to finance the car that they want. Someone at the car dealership needs to have the training to understand the loan terms and make sure that it has been set up properly for the purchase of this particular car.

The F&I professional will also want to try and get the customer to finance their car directly through the dealership. This would make it easier for them to generate revenue from the car sale, as the income from loan payments will then directly benefit the dealership. For this reason, F&I professionals must know how to create deals that can try to compete with the offers the customer may have received through outside financing options.

In addition to the technicalities involved with the loans needed for the purchase, the F&I professional will also have a thorough understanding of the extra products that the car dealership offers. They will try to sell these extras to the customer as they pay for the car. These additional add-ons will include options such as extended service contracts, maintenance packages, or anti-theft precautions. The F&I professional, therefore, must know how each of these options offered by their particular dealership works, and how they benefit customers. Their goal is to help the customer buy the car they want, while also helping their dealership in the process.

Finally, the F&I professional will often be one of only a few people at the dealership who has the training needed to go through some of the final sale forms needed to actually complete the sale of the car. They can help answer customer questions and make sure that all of the paperwork is in order to complete the large purchase.

The value of the F&I department

The professionals who work in the F&I department play a critical role in the success of the dealership. With their understanding of the finances of the car buying process, constructing loans, and their work to sell additional products to customers, they have an immediate impact on the revenue of the dealership as a whole.

It is their job to know how to negotiate loan terms and create deals that not only help customers get the car they want, but also help the dealership secure the revenue they need to keep growing. Therefore, both dealerships and customers really count on F&I professionals to thoroughly understand their field.

The importance of good F&I training

Clearly, the F&I professional plays an important role in the sale of cars and the health of a dealership. A good F&I professional will help their dealership generate considerable income and bring them more customers. The F&I professional helps customers to connect with their preferred car and helps them see a path towards purchasing it. Therefore, car dealerships want to know that the F&I professionals they hire have the training needed to do their job well. They need to make sure that their finances are handled correctly to help them build their business.

Those interested in a career in the industry should look for a program that is properly licensed and has the experience of teaching students in the field already. A rigorous program should be selected, one that gives students hands-on experience and the practice they need to understand real-world scenarios. It is not a field that can be learned in a seminar or through a weekend class. Instead, students should be required to study hard and regularly demonstrate their knowledge through exams that will ensure they have mastered the material.

This type of rigor will help to demonstrate to the dealerships that the professional has the training needed to correctly navigate the loans and financing of car sales.

The Automotive Dealership Institute is the only licensed school for F&I professionals in the country, and it has worked for over 3 decades training professionals for the field. Through their rigorous training program, students spend several weeks in an actual classroom, learning the intricacies of the field so that they are prepared for their important future role within a car dealership. They get the chance to learn from other successful professionals so that they graduate fully prepared for their position.

The Automotive Dealership Institute is so confident in their educational program that they offer job placement assistance to students which includes help with interviewing and finding a position at a US dealership. They have placed professionals at car dealerships across the country, and car dealerships know that they can trust the graduates of ADI.

Best Education Option for Post-9/11 GI Bill® Benefits in 2020

After leaving the military, many veterans decide to look for employment in a new field. In order to help with this process, the government offers educational benefits under the Post-9/11 GI Bill®. If you have access to benefits under this bill, you have many different options when it comes to your career path. However, one of the most beneficial and lucrative career paths available is in the field of automotive finance and insurance. Below is some information about how the Post-9/11 GI Bill® and how it can help you launch your new career.

What Is the Post-9/11 GI Bill®?

The Post-9/11 GI Bill® is available to specific members of the military who meet certain requirements. If you qualify for benefits under this bill, you will have access to money that can be used for higher education for yourself, your spouse or your child.

In order to qualify for the benefits available under the Post-9/11 GI Bill, you must have been on active duty sometime on or after September 11, 2001. Your active duty must have lasted for at least 90 days, or at least 30 days with a medical honorable discharge.

The benefits available under this bill can be used to cover a variety of expenses, including your tuition, educational fees, book costs and housing. If you need to relocate in order to attend an appropriate educational program, your relocation expenses may be covered as well.

Not all veterans will be entitled to the same benefits under this bill. The exact amount of benefits you will be awarded depends on the amount of time you spent on active duty. The maximum benefits available to veterans are up to 100 percent of tuition and educational fees, up to 100 percent of housing expenses and a total of $1,000 per year for educational supplies, including books. If you qualify for coverage of your relocation expenses, up to 100 percent of these expenses may be paid under the Post-9/11 GI Bill.

Why Choose a Career in F&I Management?

As a veteran with access to educational benefits under the Post-9/11 GI Bill, you have different career options available. However, there are many notable advantages to choosing a career in F&I management. Some of the advantages of choosing a career in this field include:

1. A handsome salary.

One of the most notable benefits of a job in F&I management is the opportunity to earn a high salary. The earning potential associated with this job makes it one of the more appealing options available for people with Post-9/11 GI Bill benefits. If you are successful in this career, you can easily earn a six-figure wage on an annual basis. In most cases, your wages will be a combination of a salary and commission.

 2. Job security. 

The F&I management industry is growing all the time, and there are plenty of opportunities for people just entering the field. In fact, at Automotive Dealership Institute, we are able to place more than 90 percent of our graduates within 90 days after they have completed the program.

3. Fulfillment.

Working as an F&I manager is fulfilling in a variety of ways. In this position, you play a key part in helping customers realizing their dreams of owning a vehicle. You are also responsible for bringing in a large portion of the dealership’s revenue through the sales of optional products and services.

4. Quick, simple training.

Unlike other career options, which may require you to spend many years in training before you are able to begin working, F&I management lets you complete training quickly and enter the field. With only a few weeks of time invested, you can build the knowledge and skills you need to be successful.

Using the Post 9-11 GI Bill for F&I Training

Although it may be possible to begin a career as an F&I manager without professional training, this is not recommended. In order to ensure that you have the best chance of having a successful career, you need the right training.

Automotive Dealership Institute is proud to accept Post-9/11 GI Bill benefits. When you choose our institution for training, you will be able to complete the entire program in as little as 4 weeks. Our program is the only licensed F&I training program in the nation and has held this status for over 30 years.

At ADI, we understand that you need a variety of skills and knowledge in order to be successful in this career. Our training program is carefully structured to make sure you have all the resources you need to be successful. While enrolled in our program, you will spend time learning about the ins and outs of the vehicle sales process, how to interpret credit scores and reports, how to complete important calculations and how to complete all the necessary paperwork throughout the financing process. Our program also aims to teach you sales and interpersonal relationship skills so you can be more effective when interacting with customers.

Contact Automotive Dealership Institute

If you are interested in using your Post-9/11 GI Bill benefits to become a F&I manager, ADI is here to help you achieve your goals. In fact, we have a liaison dedicated specifically to helping veterans submit all the necessary paperwork to apply to use their Post-9/11 GI Benefits for the in-classroom programs our institution offers.  Depending on the situation, you may be eligible to receive full tuition, as well as an allowance for your travel and housing expenses.  After your program is complete, we will even help you look for your first job. Please contact ADI today to get started or to learn more about this training option.

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!