F&I Training - When The Customer Says “I’ll Take My Chances!”

[@ProductPrep]

Join Product Prep Live: prodprep.com/product-prep-live

[@ryanmiley3198]

ignore all these comments. this is great stuff. definitely using this

[@narcoosseefl]

And the harder you try to sell it, the more it's telling me that it's very profitable for you, and thus not necessary. My wife bought a Prius a few years ago - the F&I guy was trying hard to sell a service contract - trotting out all the fear of high costs, etc. I stared straight at him, and told him "If it's that unreliable, I guess we should go buy something else". He shut up after that. This is why people hate car dealers so much.

[@JT-bs8wz]

What do you when someone says no? Respect their boundaries. Absolutely do I see risk, which is why I have invested into the market half of what each F&I guy tried to charge me for product over the past 20 years and I’m now sitting on $50k as I’ve never had a covered repair in my entire life. Had I bought the junk being sold I’d be out around $15k for absolutely nothing but dealer profit.

[@captainbroski7358]

Makes sense, do you feel the same way about car insurance?, most people pay for it for years and never have a incident but it’s mandatory, with most of these new cars being comprised of over 40% electronics that’s on you if you wanna pay for those repairs, doesn’t make sense to me why people want anyone assume that level of risk then come back to the dealer they bought it from to complain, many people don’t have the money to foot a 2700 shop bill out the blue, sure is F&I managers make money but we are there to provide the best ownership experience with these cars as possible especially if your loyal to a particular brand, now what I don’t agree with is those things being snuck into contracts like some managers do that are dishonest, people buy things they see value in, I had to buy a second vehicle because my old one blew up on me and it was 3800 bucks to fix which I didn’t have cause I worked a 16$ an hour job, it’s about risk not always profit on our end, no dealership wants a customer to come back to complain or give negative reviews

[@JT-bs8wz]

@@captainbroski7358straight insurance is a bit different, insurance companies make most of their money by investing premiums and just a tiny bit on the premium itself. Where car dealers make a whole lot of money selling F&I product. I’d never rely on the minimums, I have too much at risk so I do the minimum needed to get umbrella insurance and that covers me up to a few million. No ICE car is 40% electronics, not in weight, volume, or pricing. I will never go back to the dealer outside the manufacturers warranty period, I do all my minor maintenance as it’s faster to do in my garage, and go to a trusted independent mechanic for more complicated things like brakes and transmission fluid replacements. And in 22 years of owning new cars I have never had an issue under warranty that wasn’t something that needed to be fixed at delivery, and honestly I’ve never had a warrantied item break on any car I have ever owned. I’d urge all customers to self insure, then that money works for them and that’s how you build wealth. I’m polite, I listen to the F&I speech, and say no thanks. Honestly there’s not a thing in that office other than tint that I’d value, but even then the dealer wants me to come back to get tint work done and charge 3x the reputable dealers in town so there’s no point in that at all. If the F&I guy were to try and pull the hard sell or make me justify I’d let him know I see no value in his products and wouldn’t take any of them even if they were free. And I’m honest. Scotchguard, nasty chemicals I don’t want near my kids. Ding/dent, I have kids we do scratches and canyons and would not have time to ever come in. Key replacement, never lost one, wouldn’t be worth the extra paperwork. Maintenance, rather do it in my garage, it’s faster than driving to the dealer, never mind waiting for an appointment. Tint, again not worth coming back Wheel locks, why would I want a thief to bust a window to get my wheels? Rim protection/tire protection, I’m getting new wheels the second I leave as factory wheels/rubber are junk 9/10 and I don’t want to deal with dealer nonsense. Warranty, the car is going to have its hiccups early, long term I’ll likely do something to void the warranty (every car I have either has a turbo or a supercharger and a tune). Paint protection, nah I am fine applying wax 2 x a year. GAP, I definitely don’t need gap, most dealers don’t even try when they see my household income.

[@bigtony77]

​@@captainbroski7358 the present value of car insurance is is no where in the same ballpark. The adjusted value of 10 years of insurance premiums is $30k, the policy payouts are 50k+ (predicated on state). A car repair is, what, $2k, not being sued civilly for hundreds of thousands.. 1,000,000% different risk profiles

[@lukejohnson1274]

Can you do a video on snake oil next? No one will buy from me!

[@anthonys5568]

You look good in the bear ears....

[@magicllama9614]

haha what a scam..... Even just 'looks' shady as hell

[@skepticsamuel]

Sell your old car yourself. Get financing from your bank or credit union. Never buy anything from the f&i office. These people attend classes on how to gain your confidence. Hence the term con artists.

[@partnek]

We’re just doing our job guy, what are you doing on an F&I video if you’re not on the industry and clearly don’t understand it(

[@JT-bs8wz]

@@partnek capitalism depends on an informed consumer. And learning the games F&I guys play is part of that informed bit. I only buy a car every 3 years, I needed to brush up on how to make sure F&I understood no.