Why is Virtual F&I Such a Hot Topic?

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.