Industry Leading F&I Products, Training, Support & News

For an F&I manager to be successful, they must have extensive product knowledge, be able to build value in their products, and follow a consistent sales process. In this blog post, we'll explore the importance of F&I training and how it can help managers excel in their roles. Building Value in Products through Product Knowledge One of the most important aspects of F&I training is building product knowledge. F&I managers must have a deep understanding of the products they sell, including the benefits they offer, the features that set them apart, and the potential risks they protect against. By having this knowledge, F&I managers can confidently present the products to customers and explain why they are valuable. This, in turn, helps customers see the value in the products and can lead to more sales. Using Stories and Experiences Another key component of F&I training is learning how to use stories and experiences to build value in products. People are na...

From inventory and pricing trends to future predictions, this report provides everything auto dealers need to know to prepare for a successful year in 2023. https://www.fi-magazine.com/369618/zerosum-dealers-market-first-report-2022-automotive-inventory-trends-that-matter?utm_source=dlvr.it&utm_medium=blogger

Report shows records set this month for average price. https://www.fi-magazine.com/370177/new-car-sales-up-in-february?utm_source=dlvr.it&utm_medium=blogger

New Experian report finds average loan terms extend for new and used vehicle loans as interest rates rise. https://www.fi-magazine.com/369620/state-of-the-automotive-finance-market-q3-2022?utm_source=dlvr.it&utm_medium=blogger

Our approach is centered on partnering with growth-oriented dealers driven to succeed. Our primary goal is to help our dealer partners generate tax-efficient wealth through cutting-edge F&I products, comprehensive training, and ongoing support. By implementing established procedures within the dealership, we promote accountability and prioritize customer satisfaction to enhance the overall experience. We are Elite FI! https://www.elitefipartners.com/ourstory?utm_source=dlvr.it&utm_medium=blogger https://www.elitefipartners.com/ourstory?utm_source=dlvr.it&utm_medium=blogger

Average manufacturer retail price nearly $50K, with some models exceeding six figures and $75K pickups the norm. https://www.fi-magazine.com/370152/vehicle-affordability-a-rising-concern?utm_source=dlvr.it&utm_medium=blogger

Analysis finds Tesla would be both winner and loser. https://www.fi-magazine.com/370153/us-ev-sector-winner-in-charger-system-expansion?utm_source=dlvr.it&utm_medium=blogger

Leasing’s decline behind forecast. https://www.fi-magazine.com/370167/cpo-sales-expected-to-drop-again-this-year?utm_source=dlvr.it&utm_medium=blogger

Implore transportation secretary to work with carmakers to deploy connected-car technology. https://www.fi-magazine.com/369624/lawmakers-seek-help-to-prevent-crashes?utm_source=dlvr.it&utm_medium=blogger

Court rules that Hyundai’s discretionary allocations weren’t unreasonable. https://www.fi-magazine.com/369625/texas-discretionary-allocation-suit-decided?utm_source=dlvr.it&utm_medium=blogger

More and more dealers signing onto captive service. https://www.fi-magazine.com/369633/stellantis-finance-unit-ramps-up?utm_source=dlvr.it&utm_medium=blogger

Fewer vehicles earned the honor in 2023 than last year as group toughens safety evaluation standards. https://www.fi-magazine.com/370155/tougher-safety-standards-lead-to-fewer-iihs-safety-awards?utm_source=dlvr.it&utm_medium=blogger

Julio Mendoza is a product specialist at Elite FI Partners, a leading provider of F&I products and services to dealerships nationwide. Julio is a bilingual expert in the automotive finance industry, bringing industry-leading products, training, support, finance manager coaching, and profit-sharing programs to dealers. In this post, we'll explore Julio's background and expertise, and how he can help your dealership succeed. Julio has over 6 years of experience in the automotive industry and has spent the last few years specializing in F&I product sales and training. He is an expert in all aspects of F&I, including VSCs, GAP, and multiple other F&I products. With his bilingual abilities, Julio can communicate effectively with Spanish-speaking customers, expanding your dealership's reach and making your customer's experience more comfortable. Julio is passionate about providing excellent customer service and helping dealerships increase their profitabil...

Buick, Toyota rank high, trucks low, in key buyer segment. https://www.fi-magazine.com/370156/report-shows-brand-loyal-women-have-clear-favorites?utm_source=dlvr.it&utm_medium=blogger

If you're a dealer looking for a new F&I product provider, it can be challenging to know where to start. The F&I industry is highly competitive, with many providers offering similar products and services. However, not all providers are created equal, and choosing the right partner can have a significant impact on your dealership's success. In this blog post, we'll discuss the key factors to consider when selecting an F&I product provider, and why Elite FI Partners is an excellent choice. Firstly, the quality of training and support offered by an F&I product provider is crucial. A provider that offers comprehensive training and ongoing support can help dealerships improve their sales processes and increase profitability. Elite FI Partners is a leader in F&I training and support, with a team of experienced trainers who can help dealerships achieve their sales goals. They offer both in-person and online training programs to ensure that dealerships have th...

When it comes to choosing a reinsurance or Dealer-Owned Warranty Company (DOWC), there are several critical areas that dealerships should consider to ensure they select the right provider. In this blog post, we will discuss the key factors to review when choosing a reinsurance or DOWC provider. Firstly, the reputation of the provider is of utmost importance. It's crucial to research providers online, read customer reviews, and seek referrals from other dealerships. A provider with a positive reputation is more likely to provide quality service and deliver on their promises. Secondly, the financial stability of potential reinsurance or DOWC providers should be reviewed. Providers with a strong financial standing are more likely to pay out claims and provide adequate support to dealerships. It's also essential to review the provider's track record for claim payments to ensure they have a good history of fulfilling their obligations. Thirdly, dealerships should evaluate ...

Julio is a bilingual expert in the automotive finance industry, bringing industry-leading products, training, support, finance manager coaching, and profit-sharing programs to dealers. In this post, we'll explore Julio's background and expertise, and how he can help your dealership succeed. #WeAreEliteFI https://www.elitefipartners.com/post/meet-julio-mendoza-product-specialist-with-elite-fi-partners?utm_source=dlvr.it&utm_medium=blogger https://www.elitefipartners.com/post/meet-julio-mendoza-product-specialist-with-elite-fi-partners?utm_source=dlvr.it&utm_medium=blogger

As a Finance Manager in the automotive industry, you play a vital role in finalizing a vehicle sale. You work closely with customers to provide them with financing options and necessary paperwork. However, compliance in the F&I office is of utmost importance. It is essential for you to ensure that your dealership is following all relevant rules and regulations. This article will discuss compliance in the F&I office, including training and the governmental agencies that oversee and monitor dealerships. Compliance in the F&I office Compliance refers to the adherence to rules and regulations that govern the automotive industry. Compliance in the F&I office ensures that dealerships operate ethically, transparently, and within the boundaries of the law. Failure to comply with regulations can lead to legal issues, financial penalties, and harm to a dealership's reputation. Training for Compliance in the F&I Office To ensure compliance in the F&I office, ...

The automotive finance industry is subject to a variety of regulations designed to protect consumers and ensure fair lending practices. Compliance with these regulations is essential to avoiding legal liabilities and maintaining the integrity of your organization. In this article, we'll explore some of the most important regulations that apply to the automotive finance department and provide tips on how to ensure compliance. Truth in Lending Act (TILA) The Truth in Lending Act (TILA) is a federal law that requires lenders to disclose the terms and costs of credit to consumers. Under TILA, lenders must provide borrowers with a written disclosure statement that includes the annual percentage rate (APR), the finance charge, and the total amount of the loan. Additionally, lenders must provide borrowers with a notice of their right to cancel the loan within three days of signing. To ensure compliance with TILA, automotive finance managers should review and update their disclosure ...

Auto finance regulations are complex and constantly changing, which can make it difficult for finance managers to ensure that their operations are fully compliant. Failure to comply with these regulations can result in costly fines, legal liabilities, and damage to a company's reputation. Therefore, it is essential that auto finance managers stay up-to-date on all relevant regulations and implement best practices to ensure compliance. Here are some key best practices to follow: * Develop a Compliance Management System (CMS) A CMS is a set of policies and procedures that are designed to ensure that a company's operations are compliant with all applicable regulations. An effective CMS should be tailored to the specific needs of the organization and should include a risk assessment, policies and procedures, training programs, and an auditing and monitoring system. * Conduct Thorough Due Diligence on All Parties Involved in Financing Transactions Auto finance managers should c...

The automaker’s top of the line Touring model Accord will come with “Google built-in” in 2023. https://www.fi-magazine.com/369635/honda-accord-touring-model-to-include-android-automotive?utm_source=dlvr.it&utm_medium=blogger

A chameleon is best known for its ability to change colors, camouflage, and adapt to its environment. And some of the best sales representatives and finance managers are like chameleons. They focus on adapting their sales pitch to resonate in a way a client best receives it. Your customers have different personalities and come from various backgrounds that have shaped how they think, engage, interpret, and most importantly, how they make buying decisions. In my time in the finance chair, I have come across customers who want to know every detail. They want to know exactly what is covered, how long it's covered, and the limits to the coverage. I have also come across customers who simply want to know they have the best coverage and are not concerned about the details. So what does it mean to be a chameleon? It is the ability to recognize what influences a decision-maker. While simultaneously adjusting your presentation with content that resonates and confidently delivers your mess...

Jake started his career in the automotive industry in 2015. As a second-generation car guy, Jake grew up in dealerships. With his youngest memories of being in the showroom and watching the hustle and bustle with eagerness in his eyes, Jake always knew he was meant to be in the dealership world. In 2020 Jake was promoted to a full-time finance role. Over the next 2 years, he learned as much as he could before accepting an opportunity at a much larger company, where he was consistently a lead performer. It was during this time that he realized his true passion for the finance office was in cultivating and developing others to grow and perform at a higher level. https://www.elitefipartners.com/post/jacob-melson-new-employee-spotlight?utm_source=dlvr.it&utm_medium=blogger

BMW overtook Subaru to take the top spot in Consumer Reports’ annual ranking of top automotive brands for performance, safety and reliability. https://www.fi-magazine.com/370100/bmw-takes-top-spot-in-consumer-reports-ranking?utm_source=dlvr.it&utm_medium=blogger

She, leadership team to unify EBlock into single marketplace bringing land and technology together. https://www.fi-magazine.com/370106/e-inc-names-lisa-scott-eblock-president?utm_source=dlvr.it&utm_medium=blogger

Pushes wholesale prices higher. https://www.fi-magazine.com/370108/used-vehicle-supply-drops-in-january?utm_source=dlvr.it&utm_medium=blogger

Toyota Motor Corp. President Akio Toyoda says there is a silent majority who question whether automakers should pursue electric vehicles exclusively. https://www.fi-magazine.com/369636/automaker-favors-varied-auto-lineup-to-all-evs?utm_source=dlvr.it&utm_medium=blogger

Controversial rules on battery component sourcing anticipated by carmakers. https://www.fi-magazine.com/369642/ev-tax-credit-guidance-delayed?utm_source=dlvr.it&utm_medium=blogger

It will buy at least 66K EVs by 2028. https://www.fi-magazine.com/369644/usps-to-electrify-much-of-delivery-fleet?utm_source=dlvr.it&utm_medium=blogger

Hires focus on data-driven insights and innovation. https://www.fi-magazine.com/370112/flock-invests-in-data-science-it?utm_source=dlvr.it&utm_medium=blogger

With the holidays approaching, auction lanes are following the trend of past weeks of being slow. https://www.fi-magazine.com/369646/black-book-weekly-market-report-3?utm_source=dlvr.it&utm_medium=blogger

According to Third Quarter 2022 Blue Sky Report® by Kerrigan Advisors, dealership buy/sells increase 25% YoY as auto retailers overcome economic headwinds to achieve a 205% increase in earnings compared to pre-pandemic averages. https://www.fi-magazine.com/369648/auto-dealership-buy-sell-stays-hot-with-yet-another-record-in-2022?utm_source=dlvr.it&utm_medium=blogger

Forecast shows rising sales, inventory, and good 2023 outlook. https://www.fi-magazine.com/369653/dealers-getting-december-gift-of-good-business?utm_source=dlvr.it&utm_medium=blogger

Data analysis puts South Korean brand’s volume above GM, other big players. https://www.fi-magazine.com/369655/bloomberg-names-hyundai-worlds-3rd-biggest-carmaker?utm_source=dlvr.it&utm_medium=blogger

Program ensures replacement coverage for new and used batteries. https://www.fi-magazine.com/370088/power-sports-lifetime-battery-protection-debuts?utm_source=dlvr.it&utm_medium=blogger

Reynolds and Reynolds/Proton Dealership IT offer tools for compliance, security ahead of FTC Safeguards Rule deadline. https://www.fi-magazine.com/369662/compliance-offering-for-dealerships-released?utm_source=dlvr.it&utm_medium=blogger

According to EV-Volumes data, from Jose Pontes, five OEMs handled more than half of all EV sales. https://www.fi-magazine.com/370072/5-automakers-handled-half-of-all-ev-sales-in-2022?utm_source=dlvr.it&utm_medium=blogger

State-of-the art facility to enhance Proton Dealership IT’s cyber threat monitoring and response services. https://www.fi-magazine.com/369668/security-ops-center-planned-at-reynolds-hq?utm_source=dlvr.it&utm_medium=blogger

Joins growing list of carmakers embracing electrification. https://www.fi-magazine.com/369664/audi-to-abandon-ice-vehicles?utm_source=dlvr.it&utm_medium=blogger

Stake would give it access to one of world’s biggest stores of key EV battery element. https://www.fi-magazine.com/370044/gm-plans-to-invest-in-lithium-mine?utm_source=dlvr.it&utm_medium=blogger

Expanded plant to support production of more than a million EVs a year. https://www.fi-magazine.com/370048/plant-gets-2b-government-loan-for-ev-component-production?utm_source=dlvr.it&utm_medium=blogger

Used-car retailer grapples with waning demand in face of economic challenges. https://www.fi-magazine.com/369666/carmaxs-bad-q3-results-drag-down-industry?utm_source=dlvr.it&utm_medium=blogger

It is not clear how current economic conditions will affect vehicle sales, auto lending and remarketing over the next 12 months. https://www.fi-magazine.com/369670/impacts-of-a-down-economy?utm_source=dlvr.it&utm_medium=blogger

Join Brown & Brown Dealer Services' John Tabar, here with this F&I Tip of the Week. https://www.fi-magazine.com/368673/fi-tip-of-the-week-primary-responsibility?utm_source=dlvr.it&utm_medium=blogger

Report shows used models in particular to fall as new-car inventory improves. https://www.fi-magazine.com/369676/car-prices-to-ease-in-2023?utm_source=dlvr.it&utm_medium=blogger

Q4 hop still off last year. Buick Enclave top pick. https://www.fi-magazine.com/370046/suvs-move-up-luxe-shoppers-list?utm_source=dlvr.it&utm_medium=blogger

Join Brown and Brown Dealer Services' John Tabar, with this F&I Tip of the Week! https://www.fi-magazine.com/368630/fi-tip-of-the-week-sharing-new-information-to-show-value?utm_source=dlvr.it&utm_medium=blogger

The AG’s Office settled with Toyota Motor Credit Corp. for illegal auto finance collection practices and Hometown Auto Framingham for discriminatory prices of add ons. https://www.fi-magazine.com/370032/massachusetts-ag-enters-two-settlements-with-auto-industry?utm_source=dlvr.it&utm_medium=blogger

Volkswagen AG reported its cash flow fell short of expectations as supply chain snags led to higher unsold inventory at year’s end. https://www.fi-magazine.com/370033/supply-chain-disruptions-affected-volkswagen-cash-flow-in-2022?utm_source=dlvr.it&utm_medium=blogger

There are many predictions of what is in store during the next 12 to 18 months for the auto industry, and when you compare predictions, some trends emerge. https://www.fi-magazine.com/370021/2023-fi-crystal-ball?utm_source=dlvr.it&utm_medium=blogger

If we provide the path through the process that our customers enjoy, expect, and hope for, they will trust us and listen to the insight we offer. https://www.fi-magazine.com/369687/the-path-of-people-the-power-of-empathy?utm_source=dlvr.it&utm_medium=blogger

The technology of today has far surpassed “penny-perfect,” and those competitors who understand this are cleaning up. https://www.fi-magazine.com/369699/why-penny-perfect-payments-simply-dont-cut-it?utm_source=dlvr.it&utm_medium=blogger

Dealers report elevated prices, a lack of affordable vehicle models, and higher interest rates are pricing many consumers out of new cars. https://www.fi-magazine.com/370008/vehicle-affordability-a-growing-problem?utm_source=dlvr.it&utm_medium=blogger

If a dealership is still buying Sharpies to complete paper Four Squares, you will probably find a higher percentage of packed payments or potentially discriminatory pricing. https://www.fi-magazine.com/369701/desking-in-a-rising-rate-environment?utm_source=dlvr.it&utm_medium=blogger

SUV definition changed, opening breaks to Lyric, Tesla Model Y, others. https://www.fi-magazine.com/369998/ev-tax-credit-rules-tweaked-to-qualify-more-models?utm_source=dlvr.it&utm_medium=blogger

Industry-leading F&I providers combine. https://www.fi-magazine.com/369708/apco-holdings-llc-acquires-national-auto-care-creating-nationwide-fi-force?utm_source=dlvr.it&utm_medium=blogger