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Business Management

Where F&I Can Help Increase Successful Contactless Transactions

Since the widespread containment efforts caused by COVID-19, auto dealerships have been among the hardest-hit industries. Much of this is as a result of dealerships either being forced to close, limited to online sales or, if they’re still open, the virus has limited foot traffic in the showroom.

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In fact, as of April 16, 2020, 24 states allowed dealership sales operations to remain open, according to J.D. Power. Another 23 states have allowed only online or remote sales. Michigan has only recently relaxed its ruling to allow online sales.

This means that contactless transactions are, at least for the near future, priority one in the transactions playbook for dealers. Because of this, F&I must play a leading role in helping educate people online during the research, transaction and post-sale phase of each sale.

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This article was written by Tim Blochowiak, vice president of dealer sales for Protective Asset Protection.

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