MODULE 1
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| DAY 1 |
WELCOME TO AUTOMOTIVE FINANCE
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DEALERSHIP RETAIL OPERATING SYSTEM
DealershipOrganization and Development
Dealership Trends
Dealership Management Structure
Dealership Terminology
Dealership Sales Methodology |
| DAY 2 |
VEHICLE SALES TRANSACTION |
|
The Greeting / Welcome
Understanding Customer Needs
Vehicle Presentation
Vehicle Demonstration / Trial Close
Vehicle Appraisal
Purchase Consultation / Negotiations
F&I Department / Proper Intro
Delivery
Follow-Up |
| DAY 3 |
FINANCE SOFTWARE
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|
Logging on to the System
Keyboard Function Keys
Transactions Menu
Creating a Retail Deal |
| DAY 4 |
LEASING |
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Introduction to Leasing
Leasing Glossary
How Leasing Works
Lease Guidelines, Residual
Money Factor, Depreciation
Lease Charge, Lease Payment
Dealer Installed Options
Excess Mileage
Drive Offs
|
| DAY 5 |
LEASING |
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Creating a Lease Deal
Lease Agreement
Lease Disclosures
Advertising Consumer Leases
Practicing Lease Calculations |
MODULE 2
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| DAY 1 |
FINANCE PRODUCTS |
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Extended Service Contract
Vehicle Maintenance Care
Guaranteed Auto Protection
Satellite Tracking System
Remote Vehicle Security System
Vehicle Tracking/Recovery System - Lojack
Code Marking System
Interior and Exterior Protection |
| DAY 2 |
FINANCE AND INSURANCE -- PRIME |
|
The F&I Department: A Dealership Profit Center
Basic Finance Definitions
F&I Department and F&I Manager
Finance Terms and Common Dealer Practices |
|
INTEREST/FINANCE CHARGE CALCULATIONS |
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Interest and Calculations
APR and Add-On
Simple Interest
Rule of 78’s
Calculating Finance Reserve
Dealership Participation / Rate Caps |
| DAY 3 |
LAWS, RULES AND REGULATIONS |
|
Regulation Z – Truth In Lending
Regulation M – Leasing
Regulation B – Equal Credit Opportunity Act
Fair Credit Reporting Act
Magnusson-Moss Warranty Act
Used Car Rule
Holder In Due Course
IRS Cash Reporting Rules
USA Patriot Act
OFAC -- The Office of Foreign Assets Control
Gramm-Leach-Bliley Act
The Privacy Rule
The Safeguards Rule
F&I Regulations/Disclosing Procedures |
|
DMV |
|
DMV Rules, DMV Forms
Dealership Forms
Printing Forms |
| DAY 4 |
CREDIT AND PRIME LENDING |
|
Credit Application Procedures
Understanding Credit Bureaus
How to read and analyze Experian
Prime Lending and Loan Process
Dealing with Lenders
Credit Unions
Lane Guide |
| DAY 5 |
LOAN STRUCTURING |
|
Four C’s of Credit
Structuring and Placing the Loan
Lender Guidelines and Qualifying
Using Advent to Structure Loans
Practicing With Real Deals
RouteOne Financing Platform |
MODULE 3
|
| DAY 1 |
FINANCE AND INSURANCE -- NON-PRIME |
|
Introduction and Benefits of Non-Prime Finance
Non-Prime Finance Terminology
Overview ofNon-Prime FinanceLenders
Non-Prime Deal Structure Guidelines
Advance / Amount Financed / Budget / Credit / Customer Profile |
| DAY 2 |
FINANCE AND INSURANCE -- NON-PRIME |
|
How to Read and Interpret Lenders’ Guidelines
Structuring Non-Prime Real Deals
Loan Process and Funding
Income Calculations |
| DAY 3 |
FINANCE AND INSURANCE -- NON-PRIME |
|
Credit Bureaus
How to read and analyze Experian
How to read and analyze Equifax
How to read and analyze Trans Union
Budgeting for Non-Prime Lenders
Calculating Income for Budgeting Purposes |
| DAY 4 |
FINANCE AND INSURANCE-- NON-PRIME |
|
Special Finance Department Organization
How to Set Up a Successful Special Finance Department
Setting Up Procedures |
| DAY 5 |
DEAL STRUCTURING |
|
Structuring Special Finance Deals
Practicing With Real Deals
ProMax Online – Special Finance Software |
MODULE 4
|
| DAY 1 |
INTRODUCTION TO INTERNET FINANCE |
|
Automotive Web Sites
Internet Car Buying Process
Effective Selling and Closing |
| DAY 2 |
F&I MENU SELLING PROCESS |
|
Proper Introduction to Finance |
|
CUSTOMER INTERVIEW PROCESS |
|
Meet & Greet
Reviewing the Credit Application
Reviewing the Credit Report
Reviewing the 4 Square |
|
F&I MENU SELLING PROCESS |
|
Product Presentation |
|
FINANCE MENU PRESENTATION |
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CSI
Profit
Legal Compliance
Time Efficiency
The 100% Rule
Trial Close
Up-Selling on a Selected Plan |
|
CONTRACT DISCLOSURES |
| DAY 3 |
OBJECTION HANDLING |
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Overcoming Customer Objections |
|
GENERAL OBJECTIONS |
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“I Don’t Need It”
“I Don’t Want It”
“I’ll Take My Chances” |
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COST OBJECTION |
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“I Can’t Afford It”
“Minimize Cost” |
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PRODUCT OBJECTIONS |
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ESC vs. Manufacturer’s Warranty
Reverse Sale of ESC
ESC vs. Unexpected Costly Repairs
99.9% Close
ESC Price Objection
Satellite Security System vs. Alarms
Satellite Security System Coverage Objection
GAP vs. Out-of-Pocket Expense
Anti-Theft System vs. Out-of-Pocket Expense
Appearance Package vs. Lost Value
Dealer Alarms vs. Outside Installed Alarms
Word Tracts
Practice Objection Handling |
| DAY 4 |
PRODUCT PRESENTATION |
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Goal Setting and Forecasting
Practice Product Presentation
Practice Presentation for Video |
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INTERVIEW TECHNIQUES |
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Dealership Interview Techniques
Practice Presentation for Video |
| DAY 5 |
VIDEOTAPING |
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Final Videotaping of Presentation |
