f&iinterviewprocess. when you shortcut the process you shortcut your profits!!

F&IINTERVIEWPROCESS

When you shortcut the process you shortcut your profits!!

Greet the Customer at the Sales Persons Desk Base Statement

Customer Interview certifying personal information,

confirming the numbers, verifying insurance and

reviewing customer credit history.

Needs Awareness Graph Presentation Menu Disclosure

Objection Handling Reclose Print

F&I SALES PROCESS

The menu is simply a legal disclosure. This disclosure is an explanation of benefits that the customer has to know that they need.

The Greeting and Base Statement

GREET THE CUSTOMER AT THE SALES PERSONS DESK

“My name is __________ and I am the Financial Services Manager here at (Dealership). I have 3

responsibilities: to answer all of your questions, assist you with your funding needs and get you

out of here as quickly as possible.

May I join you?”

“How has your experience been so far?”

“As I said before I am going to answer any questions that you have regarding the titling of your new vehicle and I am going to make sure that we take care of the manner in which you choose to handling the financial arrangements. We have options that are easy, convenient and available

to almost everyone. It is my job to make sure that you have all the information you need to make a good decision.

Our time together should take no longer than 45 minutes.”

The Customer Interview

Why do an Interview?

Prescription without

diagnosis is malpractice.

I want to review your credit application and certify that all the information is true and correct.

We are going to discuss some

things that are personal and legal in nature and I want to be respectful of

your privacy.

Would you like to follow me to my office?

Is this the correct spelling of your name, for titling

purposes?

Is this the correct titling address?

…and in the event of your death who do you want to get

the free and clear title? (Write it on the top of the

form)

Margaret Jones

You have been at your address for ___ years and how many

months?

Margaret Jones

As you probably know most lenders require at least 5-years

residence history.

Margaret Jones

Your current occupation is… and you have been there for ___ years. Is this correct?

Margaret Jones

Of course the lenders also require at least 10 years of employment history. How

many employers will that be for you?

Margaret Jones

I need the name, address and phone number of your closest

relative that doesn’t live in your home.

This is your monthly income…is this before taxes or after? Is

it verifiable?

Is there any other income or cash value life insurance that could be used to repay this

loan?

How much of your income do you get if you become sick or injured and unable to work?The bank’s gonna want to

know.

Margaret Jones

It says here that your monthly mortgage payment is ____. Do you have a 2nd mortgage? Do

you make your mortgage payment monthly or bi-

weekly?

Margaret Jones

We’ll need a bank reference. Where do you bank? Do you have checking and savings

accounts?

Margaret Jones

What is your average daily balance in your checking

account? Savings account?

Margaret Jones

“The next thing that I want to do is to confirm the numbers that you have

agreed to…”

If the numbers are not correct you have to STOP. Protect the sales person and CSI, get a manager

involved and be considerate of the customer’s feelings.

“These are the numbers that you agreed to, these are the fees and this

is your down payment of $____ (vocalize down payment) dollars.”

“Does everything look okay?”

“It looks like you are purchasing a _____- in the ______ color and your new vehicle has approximately ____ miles.”

“You are replacing a _______ with _____ miles. Is that correct?”

“Does your vehicle have any major damage or just your basic dents and dings?”

“I notice from your vehicle appraisal that you only had one set of keys? Did you just bring the one set with you or is that the only set that you have? I

only ask because with the high cost of cutting and programming another key and remote, your vehicle might have been worth several hundred dollars

more.”

“Did you do your maintenance at your dealer? If it was cost effective you would have to consider doing your maintenance here, wouldn’t you?”

“Were you the primary driver? Did you buy that vehicle new or used? How long have you had it? Based on your current mileage you are driving _____ miles per year. Does that sound about right?”

“These are the figures you’ve agreed to and this is your down payment leaving this as your unpaid balance.”

“Before we review your credit bureau for accuracy, would

you say that you had good credit, bad

credit or like most of us, somewhere in

between?”

FSM:Make sure that you have a copy of

your manufacturers owners manual.

“As I told you, one of my responsibilities is to make sure that you have a complete understanding of

your manufacturers warranty. Your going to get a survey from (Manufacturer) asking about your experience today and I need you to be able to answer every question ‘Completely satisfied’.

Did your salesperson go over your factory warranty with you?

What is your understanding of your factory warranty?

As you’re talking to your customer, start drawing your graph on a blank piece of paper…

…the customer will either tell you that it is “bumper to bumper”, that their sales person didn’t tell them

about their factory warranty or both…

Write on the graph their expected time of ownership and total number of miles they will drive

in that time…

At the point where their warranty will expire, either miles or time, make a box and write the word “Covered”. In the space remaining write “Not

Covered”.

(Writing as you speak) “You are exactly right, your warranty is bumper to bumper and roof to road and

if you ever have a claim it’s a $0 deductible, so there’s no money out of your pocket.”

Write the word “TIMKER” down the left edge of the graph. Under the letter “T” write the word “Tires”…

Turn to the appropriate page in the warranty guide regarding “What’s Not Covered” and under “Tires” read the

customer what it says…

Beside the “I” write the word “Inconveniences” and beside the “M” write the word “Maintenance”.

“Also the ‘I’ stands for ‘Inconveniences’ meaning a rental car if your repair isn’t covered, travel

expenses if your vehicle breaks down away from home, etc…and ‘M’ is for ‘Maintenance’. How do

you typically maintain your vehicles?”

(Write down what they say…”Oil changes, tire rotations”…)

Show the customer in the warranty manual under “What is Not Covered” what it says about “Maintenance”….

Beside the “K” write the word “Keys”, and beside the “E” write “Environment” and beside the “R”

write “Road Hazard”.

While you are turning to the appropriate page in the owners manual say,

“The ‘K’ stands for ‘Keys’. Have you ever had to replace a key or a remote? Between the cutting and programming, they are

very expensive, aren’t they?”

Show the customer in the warranty manual under “What is Not Covered”

what it says about “Environmental Conditions”….

…and what it says about “Road Hazard”….

Say, “Now let’s talk about what the manufacturer means by the word, “Limited”…

Under the “What is Covered” section read the description of your manufacturers Basic Warranty.

Put extra emphasis on the word “Defects”…

Circle the word “Limited” and draw a line to the “Covered” box and write the word “Defects” at the

end of the that line…

…in the corner of the “Covered” box write the word “BAD” vertically, and then write “Built”, “Assembled”

and “Designed”.

Say as you write, “A defect is anything that wasn’t built right, assembled right or designed right…”

Go back to the “What is Not Covered” page and say…

“Also not covered by the manufacturer is ‘Wear and Tear’…”

Under the “Not Covered” section of the graph write “Wear and Tear”….

“We know that there are 3 things that cause ‘Wear and Tear’; the climate we drive in, the roads that we drive

on and the way that we drive…”

“Where do you think your vehicle is more likely to break

down…” (Draw a line down the middle of the graph)

“Here in the first half of ownership, when your vehicle is new…”

“…or here in the second half of ownership, when it’s used…?”

“That’s right, the older your car gets the more likely it is to fail, like everything. The problem is that here is where you

become 100 percent risk-responsible.”

“That’s right, the older your car gets the more likely it is to fail, like everything. The problem is that here is where you

become 100 percent risk-responsible.”

(Drawing as you speak)“We know that this is not a good position to leave our customers in, so we have

created a package of options that is simple, comprehensive,

and available to almost everyone…”

These are the numbers that you’ve agreed to…

…and this is your APR

Say this with some pace and a nice rhythm and then hit the

“Continue” button.

• By choosing the Option 1 you will receive a vehicle service contract for as long as you told me that you were going to own your new vehicle saving you from the high cost of unexpected repairs.

• You will also receive GAP. GAP covers the difference in the replacement value of your car and your payoff amount in the event your vehicle is stolen and not recovered or totaled in an accident. Remember you told me that your insurance deductibles are $500? This will cover as well.

• You will also receive the Credit Life Benefit. Remember you told me you wanted Margaret to receive a free and clear title in the event of your death? This is what will allow that to happen.

• You will also receive the Credit Disability benefit. You’ve heard of AFLAC? This will pay your car payment on a per diem basis in the event you become sick or injured and unable to work. Remember you told me that when you don’t work, you don’t get paid.

• You will also receive our prepaid maintenance program. Remember you told me if it was feasible you’d consider doing you maintenance here? This let’s you pay for tomorrows maintenance with todays dollars, creating a hedge against inflation.

• You will also receive Lojack. You’ve heard of Lojack? It’s the only theft recovery system that works with the police to get your vehicle back in the event it is stolen.

• You will also receive Multishield. Remember the manufacturer does not cover damage caused by road hazard. This covers your tires and your wheels for unlimited miles, unlimited claims for as long as you told me you were going to own your car. In addition to that it covers small chips, cracks and stars in your windshield as well as Paintless Dent Repair for dings and dents in your vertical body side panels. If any of that happens, call us up and bring it in; if we can fix it we will fix it, at no out of pocket expense to you.

• You will also receive Super Polysteel. Remember the manufacturer doesn’t cover damage caused by the environment. Super Polysteel covers the finish of your interior and exterior against fading, staining, even rips, tears and burns, keeping your vehicle looking nice and new longer.

• You will also receive the Key Replacement benefit. In the event your keys are lost or destroyed this benefit will pay up to $399 per year to cut and program a replacement key and remote, for as long as you told me you would own your vehicle.

• These are your payment options• OR

• Do you have any questions about Option 1 before I continue?• By choosing Option 2 you receive all the same protections as Option 1 however

you will forfeit the Credit Life and Disability benefit making you responsible for your payment in the event you become sick or injured and unable to work and in the event of your death your family would be responsible for the balance owed on your vehicle• This is your payment for Option 2

• By choosing option 3…(Continue on using the words, “Receive” and “Forfeit”)• Do you have any questions about any of these options that we’ve just talked

about before I ask you to choose one?