Why the Walkaround is So Important for Higher F&I PVR

How the sales presentation goes out on the showroom floor often dictates how easy or difficult it will be to sell F&I products. You could have the most polished and on-point staff with killer sales tactics and it can all STILL go flat when the time comes for a commitment.

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So many customers walk into F&I with the same tired objections…no need, I’ll take my chances, I can’t afford to add anything to the payment. 

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But sometimes the most beneficial strategy to convince a car buyer that they need critical protections for the new vehicle is not found in the F&I office but rather on the sales floor.

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We know. It sounds a bit odd to say that as an F&I provider ourselves but think about it…

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If the salespeople are able to execute a thorough and detailed walkaround BEFORE ever walking them into F&I, they are in the best position to see the value of VSCs and other ancillary products.

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Why the Walkaround?

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If your customer comes in with a 2012 model they have been driving since they bought it, chances are they will be a little overwhelmed with how far technology has come in that time since. Here’s where the walkaround comes in…

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A skilled salesperson hones in on this and highlights ALL the new and exciting tech for entertainment, connectivity, and safety that differs from what they have in their current vehicle. 

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Now as they describe all that fancy new tech, the seed is being planted that if/when that tech malfunctions, it’s no longer a cheap part at their local Auto Zone that they can just DIY it. Nope…it’s expensive and they HAVE to go to the dealer to get it fixed.

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And they won’t be ready for the labor cost, that’s for sure. 

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If sales explains that thousands of lines of code, wires, and motherboards make up all of these features, the F&I manager can immediately review all the coverages designed to help with the cost of having to repair or replace them.

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After all, there is no ‘maintenance’ of these complex electronic systems…it’s simply replacement.

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F&I and Sales Working Together - Everyone Wins

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To make sure there is a synergy between the departments, regular training can be helpful. F&I can do in-depth reviews of the products they offer and show how each can fit seamlessly into the sales walkaround.

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For example, if you want to sell more Key Replacement, then show the sales team how to make that a specific focus of the walkaround with the customer, explaining that even though the remote start fob is a convenient piece of technology, it’s also expensive to replace due to the chip inside and how it has to talk to your new car. 

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That simple mention will make them more likely to ask about whether or not F&I has a plan for that ‘just in case’. 

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Same with sales doing a deep explanation of how their old car did not have blind spot detection or lane-keep assist but now their new car does and how those systems have hundreds of component parts that are working together to keep them safe. 

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Then you stick the landing by saying that when you have a VSC with us, you pay no deductible when we replace that important safety system for them when you let us fix it. 

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Now F&I staff have a customer already primed for the VSC discussion after having a few minutes to think over how much that blind spot monitoring system probably costs to replace.