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WITH RON MARTIN
AutoSuccess, May, 2002
Should Aftermarket Products Be F&I Products?
If a product passes the win-win test, it’s a product that I want to offer my customers. That is, the customer wins with benefits that are evident and the dealership wins through profits and customer satisfaction.
The aftermarket products of paint protection, fabric protection, leather protection, undercoating, and rust proofing are benefits that do that.
Paint Protection guards the vehicle’s painted surface, such as, the sun’s ultra violet rays which can cause oxidation and fading, the effects of sea and road salt, and the penetration of menacing items like bird droppings and tree sap. Fiber Protection creates a bond to individual fibers without altering texture, scent or color of the treated fabric. This protects your cars fabric from stains caused by many spills. Leather Protection significantly reduces the premature aging of seats, dashboards, interior trim and stationary vinyl roofs. If your vehicle is treated with undercoating, it serves to protect the underbody of the vehicle creating a quieter ride. Finally, the rust proofing application creates an unfavorable environment for rust.
If your going to be successful selling the Protection Package you must see it for what it is, an opportunity for the customer to keep their vehicle looking new and maintain the vehicle’s value. The sales people that see it that way are highly successful selling it, those that don’t either don’t offer it, or can’t create
the visual image that’s necessary to persuade the customer.
Aftermarket products are no different than any other F&I product. What sells, is the “transfer of enthusiasm” for the product from the seller to the buyer. If the F&I person, or sales person, has a genuine belief in the benefits they are offering the customer they will be successful a good percentage of the time.
When I first started offering this to customer’s I was skeptical just as many other sales people are. What changed my attitude were the people I offered the benefits to. I would simply offer them an opportunity to keep their vehicle looking showroom new long after that new car smell goes away and better maintain its value and they would say, “tell me more.” More importantly, their eyes would say it. This made me a believer. Anytime I can present a product with little to no buyer’s resistant, it’s a product I want on my list of options.
I am often asked, “Where is the best place to sell this product, the F&I Office or part of the sales person’s process?” There are arguments for both ways. I say, “where ever you are more likely to get 100% enthusiasm for the product 100% of the time.” Since we know enthusiasm is what sells. I think it’s easier to get one person enthusiastic about the product than a staff of 10 sales people. So, the F&I department is my preferred choice. It makes a great F&I product because it doesn’t have the typical charge backs that are associated with other products sold in the F&I office.
On the other hand, since the sales person already has rapport with the customer after selling the vehicle, if they also have the enthusiasm necessary to be successful, I certainly can understand the decision to have it sold on the sales floor.
Wherever it’s sold the dealership that makes this a viable profit center is the one that makes the whole process work for them. That means everyone on the sales floor and F&I office are supportive of the product, so they can at the very least endorse it if asked about it. It’s also imperative that an efficient application process be in place. One which rewards the reconditioning department for good work and can have the car treated in a reasonable amount of time. If either side of the process (sales or service) breaks down, the product can never achieve its potential as a major profit center for the dealership.
Next month we will explore, “How to present these products to get the best success?”
Ron Martin is a national F&I sales trainer and consultant, and the author of the book The Vision of Finance and Insurance, a training narrative. To learn more about Ron’s company or order his book or audio programs visit www.thevisionoffandi.com or call 1-800-413-9902.
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