George Angus

2. The “Secrets” of the Top F&I Managers George Angus 1 President/Director of Training And theF&I Masters™program of professional education Team One Research and Training

3. Who Are The Top F&I Managers? Cumulative Scoring or “The Cume” • Income per retail unit delivered • Product Penetration % • % of Chargebacks • Balance of Income • Sales Satisfaction Scoring Best Possible Score: 1000 1 Team One Research and Training

4. Who Are The Top F&I Managers? Cumulative Scoring or “The Cume” Scoring Out of A Possible 1000 (Not to be confused with income per unit) Top Performers 800+ 9% Above Average 650-799 14% Average 500-649 28% Below Average 350-499 38% Poor 0-349 11% 1 Team One Research and Training

5. Traits The Top F&I Managers Have In Common Constant tracking, analysis, and improvement using a consistent, repeatable process. 1 Team One Research and Training

6. Traits The Top F&I Managers Have In Common A consistent, repeatable process. 1 Team One Research and Training

7. Elements Of A Successful Process • It Must Be Easy Enough To Do Comfortably 1 Team One Research and Training

8. Elements Of A Successful Process • It Must Be Easy To Do Every Time • It Creates Credibility 1 Team One Research and Training

9. Elements Of A Successful Process Credibility Credibility vs. “Rapport” 1 Team One Research and Training

10. Elements Of A Successful Process Credibility Credibility vs. “Rapport” “Rapport” = Sales Resistance 1 Team One Research and Training

11. Elements Of A Successful Process Credibility Credibility vs. “Rapport” “Rapport” = Sales Resistance 1 Credibility= $ Team One Research and Training

12. Elements Of A Successful Process How Do We Create Credibility? 1 Team One Research and Training

13. Elements Of A Successful Process How Do We Create Credibility? Up Front, Full Disclosure 1 Team One Research and Training

14. Elements Of A Successful Process How Do We Create Credibility? Up Front, Full Disclosure Honesty As A Strategy 1 Team One Research and Training

15. Elements Of A Successful Process • It Must Be Easy To Do Every Time • It Creates Credibility • It Must Be Simple For Both The F&I Manager And The Customer. 1 Team One Research and Training

16. “Wouldn’t it be nice, for just a few dollars per month, to have, in the event of your untimely death, a free and clear title and ownership transferred to your loved ones or next of kin with just a simple signature at the Motor Vehicle Department?” Huh? 1 Team One Research and Training

17. Elements Of A Successful Process • It Must Be Easy To Do Every Time • It Creates Credibility • It Must Be Simple For Both The F&I Manager And The Customer. • It Must Be Fast. 1 Team One Research and Training

18. The Myth of the Feature/Benefit Presentation In The F&I Process Conventional Wisdom, (circa 1979) “If you are strong enough in your presentation to create enough value in the customers mind, they will buy all of your products” 1 Team One Research and Training

19. The Myth of the Feature/Benefit Presentation In The F&I Process “If you are strong enough in your presentation to create enough value in the customers mind, they will buy all of your products” Average Presentation Time (average as taught by three conventional F&I schools) • Finance Conversion • (cash, bank, credit union) 9 minutes • Credit Life 2 minutes • A&H or Disability 3 minutes • Service Contract 8 minutes • Chemical, Theft, etc. 6 minutes Total 28 minutes 1 Team One Research and Training

20. The Time Element The 4 ½ To 7 Minute Rule 1 Team One Research and Training

21. Elements Of A Successful Process • It Must Be Easy To Do Every Time • It Creates Credibility • It Must Be Simple For Both The F&I Manager And The Customer. • It Must Be Fast. • All Products Are Presented, Every Time.

22. Income Distribution & PRU$ “The less you care about which products they buy, the more you’re going to sell”.

23. Income Distribution & PRU$ Below Average Group “Cume” Avg.- 480 Income Per Retail Avg. $529 Above Average Group “Cume” Avg.- 796 Income Per Retail Avg. $1287

24. Elements Of A Successful Process • It Must Be Easy To Do Every Time • It Creates Credibility • It Must Be Simple For Both The F&I Manager And The Customer. • It Must Be Fast. • All Of The Products Are Presented, Every Time. • Separation of Tangibles and Intangibles 1 Team One Research and Training

25. Intangibles As Assumptive Products vs. Low Cost Tangibles As Upsell Products. Assume/Intangibles Upsell/Tangibles • Life Disability • GAP • Service Contract • ID Theft • Chemicals • Theft Deterrents • Tire and Wheel • Accessories

26. Separating Tangibles & Intangibles 1989 Original Menu Concept

27. Separating Tangibles & Intangibles 1989 1990’s

28. Separating Tangibles & Intangibles 1989 1993 1996-2004

29. Separating Tangibles & Intangibles 1989 1996-2004 1993 4 Column Menu With Tangibles And Intangibles Separated

30. Separating Tangibles & Intangibles Team One Package Option™ Process

31. Two Keys To Selling Tangibles • Package Discounts

32. Two Keys To Selling Tangibles • Package Discounts • Quote the monthly “bump” not the total payment.

33. Two Keys To Selling Tangibles • Package Discounts • Quote the monthly “bump” not the total payment.

34. Getting The Money Get enough lenders to get every possible deal bought. www.fimagazine.com/FinanceSources State by state listing at: www.autocreditexpress.net/resources/lenders Downloadable PDF List at: www. subprimenews.com/downloads/lender-directory.pdf

35. The Role of The Agent • Training • Tracking and Reporting • Product Mix • Agent as Lobbyist • Support 1 Team One Research and Training

36. Contact Information Team One Research and Training 1-800-928-1923 Website: www.teamonegroup.com Email: training@teamonegroup.com George Angus 1 Team One Research and Training