This week we are doing something a little unusual…we are referring everyone to an article written by Mr. Jim Ziegler and published in F&I Magazine.
For those of you who don’t have the good fortune to know Jim (and I am honored to call him a friend), he is a legend in the automotive space. He knows more about selling, desking and consummating deals that are good for dealer and buyer alike than most other trainers, consultants and advisors alike. His knowledge comes from doing, having spent years in dealerships before launching his own enterprise.
I recognize that the marine and RV industries are not the same as the automotive space…however, in this article, Jim discusses the practice of packing payments – bundling products into the payment quoted to the buyer, without necessarily quoting a base payment and base rate. He also discusses the practice of adjusting the base rate when backend products are included. These practices occur, sadly, wherever F&I is sold…automotive, marine, RV, Powersports, etc.
He is very clear about these practices … don’t!
Please, this will only take you a few minutes to read, but it could save you a lot of pain and maybe even your career.
Let me know what you think!