|
4 Week Auto
Finance & Insurance Management Course:
Curriculum
Highlights:
MODULE 1
PROFESSIONAL SALES DEPARTMENT MANAGEMENT
Section 1: Dealership Operations
A complete overview of the car business at
the dealership level retail auto business
structure, retail auto sales facilities, dealership
products and services, dealership selling
systems, dealership retail sales structures,
generating retail auto sales, lead management,
definitions and terminology, career in sales,
communication, and positive sales image.
Section 2: Components of A Car
Sale
A complete overview of the entire vehicle
selling process components of a car sale,
five steps of the sales process, preparing
for business, fact finding and investigation,
vehicle presentation, identifying the five
major profit leaks in the traditional sales
process and how to correct them to achieve
repeat and referral business, role play and
rehearsal of a proper sales process including
how to handle price questions professionally,
how to help shoppers shop smartly and maintain
non-confrontational presentations and negotiations
with clients.
|
|
Section 3: Components of A Car Sale Continued
Discussing terms, reviewing and rehearsing the final
agreement process of agreed upon terms including,
but not limited to, down payment, monthly payment,
trade in, sales price, non-confrontational agreement
terminology and presenting counter offers to the dealership
on the customer s behalf to best represent the customer,
the Finance & Insurance Department s role in the
sales process, delivery, follow-up, prospecting, future
business, getting started, goal setting and forecasting,
and ethics.
Section 4: Leasing
A complete overview of the entire lease transaction
and payment calculation introduction, lease training
for F&I, lease vs. finance, terminology, calculation
overview, fundamentals, federal consumer lease act,
an overview of leasing contracts and lender procedures,
practice deals, lease presentation, disclosing lease
agreement, and lease worksheets.
Section 5: Finance Products
A complete overview of the protection provided to
the customer in the F&I office including, but
not limited to, Vehicle Service Contracts, Credit
Life & disability protection, maintenance protection,
automobile insurance protection, GAP, window etching
protection, vehicle I.D. markings, Ignition Interrupt
Protection, alarm system protection, Lojack, Appearance
Protection and other currently popular products.
MODULE 3
PROFESSIONAL FINANCE AND INSURANCE (F&I) DEPARTMENT
MANAGEMENT
Section 1: The Finance & Insurance Manager
A complete overview of the F&I manager position
and job responsibilities. F & I's Role in the
dealership, general policies for F&I, job descriptions,
basic computer operations utilizing Advent's F&I
software program.
Section 2: Finance Contracts
A complete overview of how interest, payments, payoffs,
and reserve income are calculated, interest and calculations,
add-on and add-on conversion charts, calculating payments,
Rule of 78, Simple Interest, payoffs, reserve income,
rate caps, and buy downs.
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.
|
