F&I Tips is a weekly informational video series brought to you by American Financial & Automotive Services, Inc.’s F&I University (FIU). Our associates bring decades of real-world experience in the automotive industry to this F&I Tips video series, as well as our five-day intensive F&I School at our corporate headquarters in The Woodlands, Texas.
In this video, Dwayne Wiggins talks about how product knowledge can help you get an extra boost in sales.
Did you know that if your customer lets their primary insurance lapse that guaranteed asset protection will still pay a claim if their vehicle is declared a total loss under the covered portion of the policy or the waiver? Did you know that tire and wheel will only pay a claim if the vehicle has 3/32 worth of tread depth left on the vehicle? Did you know that in order to purchase key replacement, the customer should have received two working key fobs and two keys at time of delivery? Did you know?
Well if you didn’t, take a few minutes and go find out. All of that information is recorded in the contract of every product that you have. If you didn’t know the answer to those, brush up on your product knowledge a little bit. If you did know those answers, good for you, keep up the good work, you’re staying ahead of your craft and making sure you are the expert of your products. Remember, one of the things of being an F&I producer is you have to be the expert at your products. No one should know it any better than you do. It’s like when you were on the floor; when you were selling cars, you had to be the expert. The products have changed, but you still are the authority.
So, read your contracts, brush up on your products. All that extra information will help you get that extra one or two products that you have been looking for. And that’s your tip of the week.
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