www.financespecialistpool.com       financepool@aol.com

What we are about

    Profitability in the finance department is a major concern for dealers everywhere, particularly when an F&I manager is not available.  When the issue of time off comes up, the first thing on the mind of the dealer is who will act as a viable replacement for the highest profit center in the dealership, the F&I department.

    Many dealers resort to using whatever resources may be available to them from their own existing pool of employees.  This may appear to be the most viable and convenient solution but in reality it may be costing the dealer money left on table, by leaving money on the table.  Statistics show that the right F&I manager can boost profits 70% per deal, and as intense as a closing situation in the F&I office can be, it is essential that whoever plays the part be focused and intent on maintaining or increasing profitability.

    Many dealers use their sales manger to fill in for finance managers with the hopes of maintaining the same per unit retail average.  More often than not, even sales managers with previous F&I experience have little desire to be in the business office for any more time than it takes to "clerk" a deal.  With all the other responsibilities that come with a sales manager's job, there is little time to focus on increasing or even maintaining back end profit.  

    Another option the dealer may exercise to remedy the problem is to pull a salesman off the sales floor to act as a backup in the F&I office.  This has the potential to create an even greater problem.  Not only do you have lack of experience in the F&I office, which can send profits spiraling, but you can also risk giving a perfectly good salesman what is known in the industry as a severe case of "manageritis".  

    With all the downfalls of compromising and using imperfect resources within the dealership, it's not surprising that more dealers are turning to contract F&I specialists to carry on the responsibilities of the finance department.  F&I Solutions provides F&I specialists.  Based out of Cary, NC F&I Solutions is filling the niche of an increasing demand for qualified F&I managers at a time when the dealer needs them the most.  When a finance manager is  for whatever reason displaced, the next best thing is someone who can pick up the ball and keep running with it.

    Macon Griffin of Griffin Pontiac-Buick-GMC-Isuzu in Monroe, NC, a bedroom community of Charlotte was caught in a predicament when he found himself one F&I manager short.  Through the referral of a dealer resource company he stumbled on F&I Solutions and the rest is history.  "At first I was a bit skeptical but by the end of the first day I was pleasantly surprised.  Not only did they come in and pick up the ball, but after the first week we actually enjoyed an increase of more than $200.00 per unit retail on the back.  That alone made the proposition more than economically sound.  We've since had the pleasure of using them again and intend to do so whenever the need presents itself."

    Jim Mayfield, General Manager, Morgan Dodge-Jeep in Durham, NC had this to say.  "When you lose an F&I manager and you don't have anyone slotted to move into that position , you can have a real problem.  This happened to us recently.  After running an ad in the paper without any success, I called my dealer resource representative and he referred me to F&I Solutions.  I decided to give them a try while I continued to look for an F&I person.  I was very pleased with their performance.  They sent someone to our store the next day.  It took him no time to get acclimated to our paperwork and procedures and we realized a substantial increase in dollars per retail.  I will certainly consider using them again."

    Frank Martin, founder and CEO of F&I Solutions explained it like this.  "The business of contract finance specialists is mutually beneficial to both parties.  In one hand you have a dealer in a bind.  Being short an F&I manager can have a detrimental impact on revenues for the dealership.  In some situations a dealer may have an issue with an existing finance manager.  Whether it is a matter of production levels or ethics, the problem needs to be addressed immediately.  Until now the dealer had to wait for a replacement  before the problem could be solved.  We offer the dealer the leverage needed to take immediate and decisive action to correct the problem at hand.  We've literally walked into dealerships as the problem was on the way out.  Our services have been utilized in a wide range of circumstances.  Dealers have called on us for additional support with direct mail sales, fill-ins for vacation time, as well as resignations and terminations.  We have the ability to fill the void with highly qualified specialists whenever and wherever they're needed."

    "On the other hand you have highly qualified finance specialists who have worked the grind in most every aspect of the car business day in and day out, six to seven days a week.  Everyone in this business knows that this is not a family oriented industry; mainly due to the excessive hours you have to work.  When you offer someone in this business a chance to make a substantial income and take as much time off as they see fit, you are in effect, offering them a life.  The car business does offer the potential to make a lot of money, but the quality of life can be less than desirable.  This is what attracts the cream of the crop, and that is why I can do the job so well.  My specialists are guaranteed a minimum for everyday they work, plus an incentive to generate as much revenue as they can for the dealer.  When I send a specialist to a dealership, I know that he's going to do the best job possible because his mind is always fresh, and they're happy.  They don't suffer symptoms of burnout so typical in the industry.  It's a win-win situation for everyone, a real F&I Solution."