3 Week F&I Management Short Course:

Section 3: Legal Compliance
A complete overview of the rules, regulations, and laws that govern vehicle transactions, federal truth in lending disclosures, Spanish language disclosures, Equal Credit Opportunity Act, Magnusson-Moss Warranty Act, IRS Cash Reporting Rules, the Patriot Act, ethics, DMV and taxes, the Contract, forms, administration, logs, reports, forecasting, money control, the California Car Buyers Bill of Rights, and Association of Finance and Insurance Professionals Certification.

Section 4: Credit Approvals A complete overview of the credit application, credit bureaus and reports, loan submission and lender relations, credit applications, credit bureaus, portfolio spread, submitting loan application to lenders, and handling qualified approvals and rejects.

Section 5: Credit Approvals
A complete overview of deal structuring, lender's rates and guidelines, and advance calculations. Lender relations, honesty, integrity, reputation, review of rate sheets, review of invoices and book sheets, explanation of advance, consumer rate report, deal structuring, ABC Level Identifying, working with lenders, working actual deals, and practice deals.

MODULE 4
PROFESSIONAL SUB-PRIME (SPECIAL FINANCE) DEPARTMENT MANAGEMENT

Section 1: Finance & Insurance Sub-prime
An introduction to sub-prime finance, substandard finance guidelines, definitions, structure, terms, customer profile, budget, debt ratio, discretionary income, debt payment calculations, advance levels, transmittal of applications to the lender, type of decisions received from the lender, and deal flow within the lender.

Section 2: Finance & Insurance Sub-prime
A complete overview of sub-prime lender rates and guidelines, deal structuring and budgeting guidelines, credit bureaus, merging credit bureaus, scoring credit bureaus, budgeting from credit bureaus, income calculations, determining gross and net income from pay stubs, working with real pay stubs, and structuring and budgeting deals.

Section 3: Finance & Insurance Sub-prime
A complete overview of Credit Bureau budgeting and merging of bureaus and deal structuring, computer operation, inputting deals, structuring and budgeting deals practice, advance calculations, down payment, dealer profit, and income calculations.

Section 4: Finance & Insurance Sub-prime Continuation
Of Credit Bureau budgeting practice, merging of bureaus and calculating gross and net income from pay stubs, prospecting and handling phone calls, customer placement, interviewing and guiding a customer, practice deals, selecting the right vehicles from inventory, funding, packaging deals for substandard finance funding, determining gross and net income from pay stubs, and working with real pay stubs practice.

Section 5: Finance & Insurance Sub-prime
A complete overview of Underwriter s qualifying procedures, Special Finance Department business plan proposal, looking at deals from the lender's point of view, understanding the lender s loan processing flow, loan processing procedures, advance structure calculations, and lenders credit applications and credit bureaus.

MODULE 5
PROFESSIONAL PRESENTATIONS AND NEGOTIATIONS

Section 1: Sales Procedures
A complete overview of the entire F&I selling process from the meet and greet to contract signing, Customer Satisfaction Index, preparing yourself mentally, attitude, product pricing vs. value, being an expert, preparing an evidence manual, F&I procedures, preparing to meet your customer, the meet and greet, dropping defenses, reviewing personal information, developing meaningful rapport, benefits presentation and selling process, introduction to the interviewing process.

Section 2: Goal Setting and Time Management
A complete overview of planning and tracking the road to success in F&I, long-range and daily goals, choosing your goals, measuring goals, goal tracking, meaningful rapport practice, benefits presentation practice, F&I presentation practice.

Section 3: Objection Handling
How to handle customer objections in F&I in any situation, 99.9% close, Extended Service Contract vs. Collision Insurance, Partially Protected Plan vs. Completely Protected Plan, Extended Service Contract vs. Unexpected Costly Repairs, the reverse sale, Appearance Package vs. Lost Value, Dealer Installed Alarms vs. Outside Installed Alarms, personal safety car-jacking approach, payment/ price objection handling, product objection handling, investment objection handling, Credit Union, bank & insurance company conversions and cash conversions, F&I presentation practice, practice videotaping presentation.

Section 4: F&I Sales Presentation
Practice role play and videotaping of the entire F&I sales process, preparing to meet your customer (mock deals), practice finance and lease presentation, disclosure, practice videotaping presentation, interview process review and role play.

Section 5: F&I Sales Presentation
Final videotaping of the entire F&I sales process and final videotaping of finance presentation.