Posted on June 25, 2019
Interested in finance and insurance (F&I)? Love cars? Looking for a way to merge the two into a long-lasting and fulfilling career in the automotive industry? It’s time to consider a career in auto sales and F&I management. Now is a great time to invest in F&I training, which can provide everything you need to succeed in this career. That means you will acquire excellent leadership and communication skills and have the expertise required to handle the financial and legal aspects of a sales transaction.
Automotive Business Manager programs are designed to teach the skills required to oversee the financial and legal aspects of the automotive industry. Students in these automotive training programs are trained in finance and lease options, sale of after-market products and the use of specialized software.
Becoming an F&I manager means you will be in the center of the action. It also means you will have a direct impact on profitability and be rewarded accordingly. Need another reason to invest in F&I manager? Job Futures 2000 predicts that more than one-third of all jobs created in Canada will require a skilled trade designation or a college diploma.
What about the extensive restructuring of the automotive industry? There has been a lot of change, but the automotive industry remains one of the world’s largest and most important business sectors. Moreover, a surge in demand is expected as consumers make purchases that would normally have been made in the last two years and additional demand is created by increases in population, new consumer offerings and improved manufacturing technology. Employment prospects for automotive sales and F&I management are good for the following reasons:
- A growing shortage of well trained individuals to fill sales occupations
- Service Canada predicts there will be strong demand for qualified candidates in Sales and Service, Business, Finance and Administration “because this sector will account for more than 45% of all retirements over the next five years.”
- Significant worldwide growth within the automotive industry
You know what happens when demand for a specific job goes up. Salaries also go up. That’s exactly what is happening for F&I Professionals. Key elements of F&I training programs can include the following areas of study:
- Business Manager’s Role in the Dealership
- Financial Institutions and Their Requirements
- Getting the Contracts Purchased
- Credit Reporting Overview
- Understanding Credit Scores and Risks
- Reading Credit Reports
- Prequalification Using Credit Reports
- Cash Conversions
- Bank Conversions
- Use a Customer-Friendly, Aggressive F&I Process
- Qualify Your Customer, Use The Right Words
- Product Knowledge
- Effective Selling Techniques
- Menu Selling Leasing Skills and Techniques
Posted on June 24, 2019
Today’s automobile is very popular. It has grown from a luxury item to necessity! This almost attributes to its fast growth and development. Gone are the days when only a highly successful businessman only could think of buying a car. At that time again, more than the need, it was a status symbol. Just the possession of a car was enough to mark a person’s economic stability!
Today however, the scenario has changed. There are various genres of cars – from the one’s that are highly stylish and lavish to the one’s that are fairly budgeted to suit the pocket of everyone who is of average income. Day by day, with extensive competition and development in technology, the vehicle models are growing in number per day and also becoming better with each new model. This also gives the consumer the freedom to choose the one that best suits his needs and requirements.
The models being launched now are as per user’s or consumer’s needs and demands. Everyday sees a new idea, launch or development.
With the launch of ‘Nano’, the dream of a car has become achievable even for a middle class salaried person! It fits right into the budget of everyone and its stylish design matches everyone’s car fantasy! Now-a-days, with the advance in the finance sector, it is much easier to get a loan and thus simpler to buy a car! The main reason in the cut of the price of various models is competition and use of modern technology methods for vehicle manufacturing.
These are some of the reasons that attribute to automotive industry’s exponential growth and today this industry is a lucrative businesses.
Posted on June 22, 2019
Nobody can deny just how the global economy has turned for the worse. Everywhere in the world, you’ll find companies shutting down, families separating so one can work abroad to earn more, or even countries wallowing in economic depression. All of these can be felt by almost all businessmen out there who are struggling to prop themselves up at a time when a world financial crisis seems to be pounding harder and harder down on them. While there remain businesses that continue to make money such as home-based stores and those that sell basic commodities, others have seriously suffered from the crunch.
One of the those reeling from the effects of the global crisis is the automotive industry. These days, people have become more and more selective in the things they spend on. Because of the challenge brought about by the crisis, most folks have been prioritizing and leaving little budget, if, at all, for what might otherwise be considered luxury. Cars are, of course, perfect examples. While an average-earning family could afford another car in the last decade, they would now rather invest their hard-earned money in real estate where its value can grow over the years. Getting a new car may never even cross their minds anymore because of more important things they need to save up on such as college education for the children or insurance.
So where do all these leave car dealers? Is there hope at all for the industry to survive? If this had happened way before when marketing strategies were nearly as expensive as the items they were selling, every dealer would have closed shop by now. But because of the various technologies that have been made available, the business of cars could well survive.
Car dealership marketing has just taken on a new direction and it seems to be a good one. With the rise of social media sites such as Twitter, Facebook, StumbleUpon, Squidoo and the others, dealing cars just hasn’t been easier, not to mention more cost effective which is something all businessmen can use these days. The greatest advantage of this approach is the ability it gives a businessman to be able to build rapport with people whether or not they are considering buying a car at that particular moment. Once the car dealer has established a name for himself online, his contacts or those who happen to be interested in buying cars will find it easy to trust him and give him a sale.
Indeed, this is one thing great about social media marketing. You’re there where most of the people are and best thing is, you can create your reputation by simply making yourself useful online. You can create your own website or blog, offer tips for automobile-related issues and basically just be available for car enthusiasts who may happen to visit and have a few questions to ask. Of course, you have to back this up with honest-to-goodness service. No need for advertising or marketing campaigns with frivolous price tags. Today, you can just have an Internet connection, connect with online folks and hopefully earn their trust so that the next time they’ll consider buying a car, they’ll think of you first. It’s up to you how to keep their interest glued to your cars.