F&I Advantage builds shopper confidence with easy-to-understand explainer content, infographics and videos. Educational content is currently available for all major categories of F&I products, including vehicle protection, and extended warranties, service contracts and prepaid maintenance plans, supplemental insurance, roadside assistance, and more.
Why it Matters: F&I product sales account for more than 50% of a dealership’s new and used vehicle gross profits according to NADA, yet traditional “end of the process” approaches to selling these products leave consumers feeling confused and pressured. Because the majority of consumers don’t fully understand F&I offerings before they walk into a dealership, most feel ill-prepared to make purchase decisions. F&I Advantage streamlines the post-sales financing meeting by equipping consumers with knowledge that allows them to make faster and more confident buying decisions while enabling dealership business managers to save time and personalize their conversation.
"We recognize that better F&I product merchandising before the sale improves product penetration, but until now we have struggled to find the right solution,” said Casey Tuggle, Chief Marketing Officer, Kelly Auto Group. “We love SpinCar's approach as our products are introduced during the customer's feature exploration phase, which has led to a 19% increase in F&I penetration. It's the perfect time to get customers acquainted with the value of additional protection for their purchase."
How it works: Powered by SpinCar’s personalization platform and rich multimedia library of F&I educational content, available aftermarket protection and insurance options are automatically presented to a consumer through several different entry points on each VDP. Product offerings can be tailored based on inventory type, make and mileage. Once configured by the dealership’s F&I manager, relevant content is populated for a dealer’s entire inventory of new, used and CPO vehicles. Online shoppers who visit those VDPs are able to access F&I content while they browse a dealer’s website from any PC, tablet or mobile device. A report detailing each consumer’s interactions with the rich content is then sent to the F&I manager, allowing them to customize their in-dealership product review discussion.
“Digital technology has been rapidly changing every aspect of the auto sales process, and F&I is no exception,” said Devin Daly, SpinCar Co-Founder and CEO. “The most profitable dealers have known for years that introducing dealership visitors to F&I products earlier in the sales process drives higher attachment rates, but until now they haven’t been able to extend their efforts to shoppers browsing their online showroom. F&I Advantage provides a powerful digital merchandising solution that enables dealers to reach consumers even earlier in their shopping journey, resulting in greater sales of these high-margin products while at the same time delivering a better experience for consumers.”