Due in large part to numerous technological advances, many of which were displayed at this year’s NADA Convention, there have never been more opportunities for your dealership to present and sell add-on products to your customers. Whether in the showroom, on the lot, or even on a mobile device in the comfort of a customer’s family room, your dealership has the opportunity to present and sell add-on products to your customers at any time, in any place, and on any device. This opportunity does not, however, eliminate your responsibility to provide a compliant sales process.
eContracting, once a concept of the future, is now present in dealerships throughout the country. Widespread adoption by dealers and increased finance source participation is driving change to the contracting process. eContracting benefits all parties involved, bringing cost savings and increased efficiency to dealers, speeding the funding process for finance sources, and increasing customer satisfaction by putting them in their new car quicker.
When the opportunity to be F&I Manager is available, it can tempting to make a quick decision to accept the appealing new position. However, for Marv Eleazer, a seasoned F&I Director, it didn’t take him long to discover that the new job required a lot more skill and talent than he had imagined. Looking back at when he first started, he would have really benefited from a mentor, saving him from bad habits, wasted time and money.
No longer is your desking tool used simply to calculate payment choices for customers. It should be a part of the customer’s vehicle buying experience, a workflow tool, and a negotiation tool! Whether you’re a newbie to the product or a seasoned veteran looking to enhance your consumer’s experience, be sure you consider these features in a desking tool:
Historically, the indirect auto finance industry has featured a manual process of paper finance contracts, fax machines, and couriers. Today, dealers and finance sources are mutually reaping the technological benefits RouteOne eContracting has to offer and contract validation, distribution, and assignment have become a more automated and secure process.
Due in large part to technological advances over the past decade, there has never been more freedom for your dealership to integrate to its preferred dealership service providers—for example, your inventory provider. With this freedom to integrate comes the responsibility to protect your dealership’s customer information.
Although there are countless facets of dealership security, I’d like to focus on managing your dealership’s employee life cycle throughout all of your integrated dealer systems. There are three critical times to consider:
Good-bye paper, hello eSignatures. Change, - it’s happening. Driven by evolving consumer expectations, dealer demand, and security and efficiency benefits, eContracting is taking the indirect auto finance industry by storm. For example, RouteOne’s eContracting volume more than doubled in 2014 to 1.55 million contracts processed. This growth is attributed to widespread eContracting adoption by over 4,600 dealers and increased finance source participation.
Your time is valuable, and we want to make sure you get the most out of it. Even if you use RouteOne daily, you may not be aware of all the time saving features available. Here are a few features you may have overlooked that can increase your efficiency and optimize your workflow.
Although eContracting has been around for a long time (we have been entering into electronic contracts for years at department stores and grocery stores every time we sign a signature pad), financing or leasing an automobile through the use of an electronic contract is still a relatively new experience for customers and dealers alike.