A great partner will specialize in automotive F&I products, and also go beyond this area to offer comprehensive solutions for success. This is because a well-optimized F&I strategy heavily relies on other key profit centers of the dealership, economic factors, profit participation structure and much more. All these must be considered to help dealers maximize F&I and create a more consistent revenue stream.

F&I partners should also help dealers tailor product menus and packages to their customer base, and educate customers on the features, benefits and value of F&I products to help drive attachment rate and revenue growth

To effectively navigate all these factors, an F&I provider must be closely connected to the dealership’s operations to make recommendations in the best interest of the dealer’s goals and objectives.

F&I products play a key role in customer satisfaction and longevity with a dealership by creating opportunities for repeat visits, as well as a positive reputation built on trust. By combining financial protection, personalized product offerings and customer loyalty, F&I significantly contributes to increased revenue, repeat and referral business, and brand recognition.

F&I product sales can be a strong indicator of a dealership’s financial performance by enhancing profitability, stabilizing and growing revenue streams and increasing per-vehicle retail (PVR). Especially in times of economic shifts, The F&I department can help offset changes in inventory and sales volume, making it critical to dealership revenue. F&I also encourages customer retention through repeat visits to the service department, which can increase service drive efficiency, upsell opportunities and lifetime customer value.

With the support of a strong F&I partner, dealers can further optimize operations, sales strategies and product penetration. Through efficient, customer-centric processes, dealerships can improve CSI and earn repeat business, making F&I an essential part of their long-term profitability.