Too few F&I managers properly present products for maximum customer acceptance. That’s a problem when you consider how much money is potentially left on the table.
System allows buyers and dealers to see financing details simultaneously.
Many dealers do not employ verification technology, a key weapon against identity fraud.
The increase in vehicle-loan amounts has slowed from prior quarters, reports TransUnion.
Although customer satisfaction dropped, time shopping for vehicles and F&I purchases increased.
Dealers who structure loans to limit loan size compared with the value of the collateral lowers risk.
Amid inflation and rising interest rates, CarMax says pre-qualified customers can know what they can afford as soon as they begin to shop.
Some shoppers may be shut out of the market.
Car ownership can improve job and earning potential, according to Open Lending study.
