Articles for Finance & Insurance Experts

F&I trainer, Kirk Manzo, discusses the importance of how a leader communicates with his or her staff and provides tips on how to effectively communicate with the four different styles of communicators.

F&I expert Kirk Manzo provides interview topics to cover when hiring new F&I managers, as well as other things to consider to ensure successful hiring because the people who work at a dealership determine its future.

When Erik Weihenmayer, a blind man, climbed Mt. Everest in 2001, the trek was well-planned-out. Every person involved in the expedition had to have clarity of vision (i.e., able to articulate the goal to get Erik to the top). Erik had to have the right team in place, and they had nightly meetings while climbing to the summit. Kirk Manzo compares and relates these key aspects of Erik’s success to successful F&I departments.

Kirk Manzo - In Chet Holmes’ bestselling book, “The Ultimate Sales Machine,” he identifies that the reason many organizations struggle is because “management attempts to implement 4,000 different ideas. When all they really need to dominate any market is to identify their core strategies (usually about 12) and repeat them 4,000 times until everyone in the organization has mastered them!”

Kirk Manzo - The practices of reviewing deal jackets on a regular basis (once a month at minimum, once a week is preferred), analyzing production reports, and conducting daily managers’ save-a-deal meetings continue to be the gold standards for our industry.

Kirk Manzo - As we approach year’s end, now is a good time to examine your processes and procedures in all areas of the dealership including sales and F&I. The interaction between these two areas of the dealership is the life blood for future growth.

Mark O'Neil - The past year has unequivocally been a challenging one for our industry, yet as the economy slowly recovers and consumer confidence increases, we can look forward to a brighter future.

Kirk Manzo - For generations, people have passed down the details of history not in written form, but rather with the spoken word. Stories of how the conquerors were vanquished and the village was saved abound. This simple method of communication has allowed others to learn from the past.

Randy Henrick - You probably know that the Federal Trade Commission (“FTC”) delayed the enforcement date for the Red Flags Rule, but that’s just one piece of the puzzle. Compliance with the Red Flags Rule may prove to be the best thing you can do for your dealership, especially if you are located in a high-identity-theft state such as Arizona, Nevada, California, Texas, Colorado, Florida or New York. The dealer and the dealer alone is the loser when an identity thief buys a car, and just one sale can really cost you.

There are three primary ways we all take in information: visual, auditory and kinesthetic. In other words, we see, hear and touch to learn. How well do you incorporate all three elements during your product presentations? In order to incorporate...