Q: What is an F&I product?
A. F&I stands for Finance and Insurance.
Q. Why would a customer want these products? Why do dealerships sell these products?
A. Reasons why the products are purchased:
1. The customer may want additional coverage for an issues that are not covered by the standard manufacturer warranty.
2. If the customer is purchasing a used unit that is outside of the standard warranty time frame.
Dealerships sell these products to provide additional income on the sale itself as well as keep the customer coming back to the dealership for future service needs. This helps build loyalty not only for a certain brand of unit, but a repeat customer who potentially will bring in additional units for service, purchasing of parts and accessories, and future major unit purchases.
Q. What product types are used within DX1
A. GAP Insurance ( Guaranteed Asset Protection)
After Market protection
Pre-Paid maintenance
Third Party warranties
For the above listed items some are sold directly by the dealership or the dealership partners with a third party company
Q. Does DX1 automatically provide the products for the dealership?
A. Yes, depending on what the manufacturer provides to DX1.
Q. Can these products be looked at or changed during or outside of a major unit sale?
A. Yes, please click the links below for additional areas within DX1 that F&I products are discussed.
Note: For the above link you will need to scroll down to the area that covers F&I during the quote process. In that example the product being added is a standard warranty provided by a manufacturer
How to create a private F & I product from inside a Major Unit Quote or Deal
Support
For additional support or questions regarding functionality, you can contact our customer support team in a number of ways shown below. Again it is mandatory for dealers to get with their accounting and business departments to understand the rules and regulations for your local, state, and federal laws.
