Day 1

Question 1

To change each student from a sales rep to a passionate ________ for the benefits and services offered in the business office.

Answer 1

Advocate

Question 2

What are the 5 F&I Core Proficiences

Answer 2

1. Follow a prescribed F&I process
2. Identify the 5 pervasive client exposures
3. Identify and respond to client concerns
4. Maintain a legal,ethical, compliant business office
5. Increase department profibility

Question 3

What is the average customer bump?

Answer 3

$117

Question 4

What is a reasonable FI bump?

Answer 4

$55-60

Question 5

What is the 400% rule

Answer 5

100% of the products and services
To
100% of the clients
100% of the time
100% compliant

Question 6

6 Responsibilities of the business manager

Answer 6

1. Secure the sale
2 protect the dealership
3 generate FI revenue
4 maintain excellent CSI
5. Improve dealership cash flow
6. Train the sales team

Question 7

How do you become bullet proof in the business office?

Answer 7

Have the answers to the question before the question is asked

Question 8

What is the best way to overcome an objection

Answer 8

Prevent the objection from ever occurring

Question 9

What are the 3 parts of the objection ring

Answer 9

1. Smokescreen
   2 product informed objection
2. Price

Question 10

______ is a warranty that is clearly stated Either verbally or in writing. It is basically a guarantee that the product for me a certain level of quality and reliability. if the product is the manufacture or fix or replace the product at no additional charge

Answer 10

Expressed warranty

Question 11

__________Most consumer products including vehicles are covered by an implied warranty of merchantability, which means it is a guarantee the work is cleaned

Answer 11

Implied warranty

Question 12

What type of warranty does a new car come with

Answer 12

Manufactures limited warranty

Question 13

________VCS include payment of a mechanical breakdown claim when a pre-existing condition contributes to mechanical

Answer 13

Pre-existing condition

Question 14

Types industry trends

Answer 14

Front in gross profit comparison

Rising interest-rate‘s

Sales volume declines

Increased VCS sales due to technology
Digital retailing

High repair cost

Technology an F and I

Question 15

The F&i impact process

Answer 15

Client intro 3-5min building report

Client conversation

Needs awareness

Benefits presentation 3-4 mins

Client concerns

Financial disclosure

Question 16

The Introduction summary

Answer 16

Greeting takes place on showroom floor/sales desk

Endorse salesman

Congratulation

Confirm delivery date

Transfer statement