Study Looks at Easing Car Dealership F&I Pain Points, from Wards Auto.
Auto shoppers seem conflicted in their perception of finance and insurance products and how dealerships sell them, according to a survey focusing on easing pain points.
More than 60% of those polled say they believe F&I add-on products are just ways for stores to make more money. Nearly half say they would never buy anything other than a car from a dealership, according to the study by MakeMyDeal, a Cox Automotive company.
But the firm says deeper questioning of respondents gets to the root of the problem: Resistance felt in the F&I office is not about the products themselves, but about the experience.
Despite misgivings, 84% of respondents say they believe F&I products may have real value, with 66% thinking aftermarket offerings such as extended warranties and vehicle protection plans may save money in the long run.