FLADCO News

Average loan terms for new vehicles now exceed 71 months, up from just over 69 months a year ago. As terms grow longer, the chances for repeat business can decline, particularly while customers are upside-down on their vehicle.

We’ve told you before about how AutoPayPlus can help you close more sales. It’s also an outstanding way to generate more F&I revenue.

As lockdown restrictions get eased and manufacturers offer an array of incentives to generate showroom traffic, it’s a perfect time to look at ways to improve your F&I earnings while offering customers more flexibility.

Accelerated payment plans like AutoPayPlus deliver numerous benefits for both dealerships and customers. Simply by switching monthly payments to biweekly payments for a nominal fee, these plans deliver a lot of value for everyone involved:

As prices for new and used vehicles keep rising, finding innovative financing solutions for customers is critical to closing more deals. And as auto loan terms continue to set records, longer loan terms are becoming commonplace.

After a year of solid growth in sales that defied predictions of a decline, most analysts are calling for a very challenging 2019 for automotive sales. December was down for most automakers. Economic and political uncertainly coupled with higher interest rates mean that U.S. auto sales could fall by as much as 4% according to some forecasts.

Given the bumpy road ahead, it has never been more crucial to maximize the profit on every sale you make. We thought it would be a great time to repost a piece we did last year about how to make the most out of your F&I offerings

As F&I becomes an increasingly important part of per-vehicle revenue, it is critical to deliver F&I offerings that customers want to buy. Automotive News says that F&I profits now exceed those on new cars themselves. The top public dealership group, AutoNation, now averages $1,789 in F&I profit per vehicle, and some privately held dealerships are easily outpacing that impressive figure.