Overview
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 Content
- INTRODUCTION
- Auto Dealership organization
- Auto Dealership Sales Department organization
- Chapter 1 Quiz
- 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
- 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
- Financing definition
- Financing contracts
- Financing terminologies
- Financing sources
- Selling the finance interview
- Converting APR to Add-On Rate
- Chapter 4 Quiz
- 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
- 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
- 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
- Risk reason codes
- Sample of potential information found on a credit report
- Equifax
- TransUnion
- Experian
- Chapter 8 Quiz
- What is the F&I menu?
- The most common products available to be offered
- Chapter 9 Quiz
- Finance Objections
- Converting a cash buyer to a lease buyer
- Selling options
- Chapter 10 Quiz
Curriculum
Instructor
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Course Features
- Lectures 2
- Quiz 0
- Duration 180 days
- Skill level All levels
- Language English
- Students 0
- Assessments Yes
