A Kink Is a Kink
In his latest column for F&I and Showroom, compliance expert and ACE founder and executive director Gil Van Over III warns dealers that the “kinks” in their finance teams won’t be deterred by new technology designed to digitize the F&I process.
To the contrary, Van Over writes, bad behaviors like powerbooking, overstating income and shotgunning credit applications can be practiced via portals and desking software. He believes the solution lies in training and management buy-in.
“Oftentimes when a dealer is trying to convert from pulp to electrons, some of the sales managers object and create barriers to implementation. I can tell you from experience, I find a higher percentage of payment packing at dealerships that still employ handwritten four-squares than those dealerships that have converted entirely to e-desking.”
