This year’s F&I Industry Summit and Conference will again be held at the Paris Hotel in Las Vegas, September 8th to the 10th. While each year’s event has been punctuated by great workshops and addresses from industry leaders and insiders, this year’s looks to be more then just informative and interesting. Judging by the agenda and headliners, attendees will leave with an insider’s knowledge of how the CFPB thinks, as well as insight into making technology work for you, and real-world sales techniques that are fresh and results-driven.
This year’s Opening Keynote Address is by Rick Hackett who spent 31 years practicing law until the CFPB selected him in 2011 as its point man in the auto finance industry. Until he left the bureau in August of 2013 he helped to chart the agency’s course into auto finance, including its examination of dealer participation programs. He is currently a partner with Hudson Cook LLP and his address should be both interesting and disturbing.
One of several F&I Workshops will discuss Lease and Cash customers - their effect on F&I departments, suggested product mixes, menu configurations, word-tracks and key-responses to customer objections.
A panel of industry insiders will discuss a variety of hot-button issues such as taking the F&I process online and dealership’s using F&I products to separate themselves from the competition, among many others.
Another workshop that looks interesting is titled, “Getting the Fix on 5 ProfitDraining Issues.” The speakers will pinpoint 5 key areas where money “leaks” out of F&I Departments. They will also quantify the cost of each area and provide solutions to “plug” the leaks.
Technology is a difficult area in which to stay current because it is always changing. Several other workshops and panel discussions target selling F&I products to on-line buyers, and how to protect F&I profits in an online transaction as well as reading and translating credit bureau reports, working with social media, and getting the most from your DMS.
For me, two must-see discussions will be listening to top F&I minds break down some of the biggest F&I challenges and opportunities, including new technologies as well as new techniques, and separating fact from myth with regard to menus and compliance. This will include a breakdown of work-tracks and objection-handling techniques that are used with the menu presentation.
As usual, it’s going to be a busy couple of days and I am really looking forward to it. If you are interested in finding out more about the 2014 F&I Industry Summit go to www.industrysummit.com for travel and hotel information, registration, and the complete agenda.
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