Pub. 17 2018-2019 Issue 1

N E W J E R S E Y C O A L I T I O N O F A U T O M O T I V E R E T A I L E R S I S S U E N O . 2 , 2 0 1 8 22 new jersey auto retailer T he car buying experience today is completely different than it was just 5 years ago. Multiple sources and studies show that more than 78 percent of North American consumers use their smart phones to shop for auto- mobiles. Consumers’ mobile reliance is also flowing through to other areas of the dealership, including the F&I and Service Departments. This means it is more important than ever for dealers to be open-minded to the new technologies available to them that enhance their connectivity with their customers. There are many ways dealers can get their feet wet with these new technologies. I like to think that I’m fairly tech savvy, but even I may have been intimidated by adapting new technology into my business if I didn’t feel confident that the programs came with the full support and training necessary to ensure usage, adoption and that it works effectively. There are a wide variety of options available to assist dealers, including: up-to-date coverage for the new technology found in today’s vehicles, F&I products accom- panied by a mobile app that stores policy information and enables service scheduling, product videos that educate consumers about protection options and better engage them in the sales process, turnkey programs to follow up with customers on missed F&I sales opportunities, and inventory control devices and programs. I think, sometimes, we forget that the biggest piece of technology we face are the vehicles that make up the automotive industry. Technology in automobiles is advancing rapidly and it is up to those in the F&I Department to make sure dealers are providing relevant coverage options to consumers for all of this new technology. F&I Technology Has Evolved BY JIM POLLEY