F and I Flashcards
What is a deal?
A contract between a customer and vendor to sell a vehicle for an agreed upon price.
What are the different types of deals?
Retail, Lease, Wholesale, Fleet and Dealer Trade
What is a retail deal?
Selling a car outright
What is a lease deal?
Renting a vehicle to a customer for a monthly installment
What is wholesale?
When items are sold in bulk to a customer
What is a fleet deal?
When multiple vehicles are sold to a company for use
What is a dealer trade?
When one dealer sells to replenish stock for another dealer
What data set do you use for deals?
FIMAST-FANDI
What data set do you use for banking information?
FI-BANK-INFO-FANDI
What are aftermarkets?
The extras placed on a vehicle being sold, such as fancy fenders, a bike rack or upgraded muffler.
What is a warranty?
A plan that covers accidental damage, loss or theft of the vehicle, as well as replacement of parts, if needed
What does GAP stand for?
Guaranteed Auto Protection
Who sells the vehicles?
The salesperson
What is the personnel ranking in Desking? (from salesperson to whom?)
Salesperson, desk manager, sales manager, team manager, F&I manager
What is the front end gross?
The sales profit from actually selling the vehicle
