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VIDEO

Office Hours - Virtual F&I

EP01 - Why is Virtual F&I Such a Hot Topic?

Why is Virtual F&I so important now? What was once a slow change in the industry has become accelerated due to COVID-19 with only 23% of purchase completion taking place at the dealership right now.

EP01 - Why is Virtual F&I Such a Hot Topic?  |  EP02 - What is Virtual F&I?
EP03 - How Does Virtual F&I Work?  |  EP04 - Mock Virtual F&I Delivery

 

It all comes down to customer expectations. If the customer’s expectations are not met inside the store, they will seek a more convenient and accommodating process somewhere else.

Customer expectations of the F&I process come down to four main points:

  • Valuable - They expect the process to be time-saving, pressure-free and convenient.
  • Transparent - They want all the information available when they want it. Clear pricing & availability. Accurate inventory information.
  • Trustworthy - They want the F&I manager to do what they say. Pricing in advertising should match the pricing in the showroom and on the website. No “bait and switch”.
  • Frictionless - Overall this was the most frequent customer “want”. The customer wants a smooth and flexible process that is on-demand and easily accessible. They want an “Amazon-like” shopping experience. Availability when and where they want it.

What is Virtual F&I? With Jonathan Jordan

Next Up

Episode 02 - What is Virtual F&I?

Virtual F&I allows you to be as flexible as possible with your F&I process. A trained dealership associate presenting F&I products is key to the success of your F&I department. In this video, you will learn what the Virtual F&I process looks like and how you can ensure a seamless virtual experience for your customers

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