The progression of the F&I menu — or “option disclosure,” as I like to call it — began sometime in the mid-1990s as a way to get F&I professionals to present 100% of their products to 100% of their customers 100% of the time. This became known as the 300% rule, and it remains a pillar of our trade.
Over time, the F&I community bought into the menu process in a big way. They found customers agreeing to purchase products they didn’t believe they would. This advancement in product sales resulted in a significant increase to dealers’ bottom lines as well as enhanced commissions for F&I managers. The menu was here to stay.
Whether in paper or electronic form, the menu has become the standard method for F&I product sales. But in meeting and working with dealers and F&I managers from all over the country, I often discover that many of those who employ the F&I menu process have not recognized its full potential.
It could be they’re afraid to step outside their comfort zone or no one is holding them accountable when they stray from the process. Maybe they like having total control, telling a great story or manipulating their customers. Whatever the reason, those dealers and F&I managers are simply missing many of the possibilities the F&I menu process affords.
With all that in mind, let’s discuss three ways to maximize your menu presentation and try out some new word-tracks to go along with each tip.
1. Tell, Don’t Sell
I realize there are several mechanisms that make up a successful F&I process. But the menu just happens to be one of the most vital when it comes to speeding up the F&I portion of the transaction, producing superior customer satisfaction and escalating revenue.
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