How to Become an Auto F&I Manager
Learn the essentials of F&I management, including laws, credit analysis, cash conversion, and finance practices. Master the skills to structure deals, secure approvals, and boost sales. Perfect for beginners or those looking to advance in this high-demand field.
Learn:
- Laws and Ethics
- Credit Report Analysis
- Cash Conversion
- Option Menu
- Finance & Lease Practices
- And more...
Discover:
The F&I Manager position is one of the most sought-after jobs in the auto sales industry. Learning to sell financing and insurance products can open many doors for you in your career.
Having complete knowledge of F&I is an essential part of sales management. It is impossible to structure a deal on the sales floor without understanding how interest rates, lease factors, and aftermarket products will affect the terms of the sale, and if your buyer is qualified for a good deal and/or an approval.
This online course is a great source of important topics to the versatile F&I Manager and an excellent support tool for those of you just starting this exciting career.
Course Module
INTRODUCTION
- INTRODUCTION
CHAPTER 1: THE AUTO SALES INDUSTRY
- Auto Dealership organization
- Auto Dealership Sales Department organization
- Chapter 1 Quiz
CHAPTER 2: THE AUTO F&I – FINANCE & INSURANCE MANAGER
- The F&I Department
- Who is the Auto F&I Manager?
- Auto F&I job description key points
- The ideal Auto F&I Manager
- The Auto F&I Manager goal
- The Auto F&I Manager main responsibilities
- Chapter 2 Quiz
CHAPTER 3: INTRODUCTION TO REGULATIONS, PRACTICES AND ETHICS
- Legal definition
- Laws and Regulations definition
- Federal and State Laws and Regulations
- State and Local Rules and Regulations
- Ethics definition
- What is legal and ethics?
- Unfair, Deceptive or Abusive Act or Practices (UDAAP)
- Legal terms
- Chapter 3 Quiz
CHAPTER 4: SELLING FINANCE
- Financing definition
- Financing contracts
- Financing terminologies
- Financing sources
- Selling the finance interview
- Converting APR to Add-On Rate
- Chapter 4 Quiz
CHAPTER 5: CONVERTING A CASH BUYER TO A FINANCING BUYER
- Why does a dealership prefer a financing deal instead of a cash deal?
Conversion features - The conversion process
- Explaining conversion features to the buyer
- Converting from an outside financing source
- Talking about available credit
- Cash Menu
- Chapter 5 Quiz
CHAPTER 6: CONVERTING A CASH BUYER TO A LEASE BUYER
- Vehicle lease definition
- Auto lease pros and cons
- Leasing vs. Financing
- When to convert a cash buyer to a lease program instead of financing
- Introducing lease benefits
- The Math Close
- Chapter 6 Quiz
CHAPTER 7: UNDERSTANDING CREDIT REPORT
- What is credit report?
- Merged credit report
- Decoding credit report
- Credit score definition
- How is credit score calculated?
- How can a credit score change?
- Subprime lending
- Credit report vs. credit score
- Chapter 7 Quiz
CHAPTER 8: READING AND UNDERSTANDING CREDIT REPORT
- Risk reason codes
- Sample of potential information found on a credit report
- Equifax
- TransUnion
- Experian
- Chapter 8 Quiz
CHAPTER 9: F&I MENU – SELLING OPTIONS
- What is the F&I menu?
- The most common products available to be offered
- Chapter 9 Quiz
CHAPTER 10: HOW TO HANDLE F&I OBJECTIONS
- Finance Objections
- Converting a cash buyer to a lease buyer
- Selling options
- Chapter 10 Quiz
About Instructor
Not Enrolled
Course Includes
- 2 Lessons
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