F&I Statistics

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The performance of the F& I Department is essential to the bottom line of any auto dealership. Until now, tracking and comparing the performance of individuals, and the Finance Department as a whole, has been very cumbersome and challenging.

Now, you can instantly pull up all the essential data to see how your F&I Department Managers are performing. This information populates on one page and allows you to find out:

  • Total deals an individual salesperson types
  • Total gross
  • Average PVR
  • Product penetration (unit, gross, sales and %)
  • F&I reserve count, penetration, and gross with PVR
  • Top manager based on unit, gross and averages (new and used)
  • Which lenders were used, what they gave us on average (term, APR ,etc.)
  • Advance report - break down by individual products sold based on cash, retail , or lease on an individual salesperson.
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F&I Variance Statistics

We’ve all heard the saying, “It Takes a Village” and selling and funding a vehicle is no exception. There are many hands that touch a deal from the beginning of a sale to the time it is funded. Would you like to know who is consistently performing and enhancing deals and who is not?

My Dealer KPI proprietary software has the ability to track a deal from beginning to end. It will show exactly how a deal was packaged and finalized by the Sales Manager. Then, it will track how it was sent to the F&I Department for contracting - Did the F & I Manager enhance, diminish, or make no changes to the deal? Lastly, it will display the final numbers once the deal has been funded by the lender.

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Contracts in Transit / Deals in F&I

Most dealerships meet daily to go over their contracts in transit (CIT), including deals in F&I. My Dealer KPI provides dealers with the ability to seamlessly track the status of each deal throughout the funding process. Every department involved in the process has access to view and update the information in real time.

Every status change to a deal is logged and tracked with a date and time stamp. It will display:

  • When the deal was sent to the business office
  • When the business office received the deal
  • When the business office sent the deal to the lender
  • When the lender received the contract
  • When the deal got funded
  • A section for detailed comments (i.e., need POI, POR, references, employment verification, etc.)
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Role Comparison Report

My Dealer KPI has the ability to run a report that merges data to compare two employees side by side. This allows you to analyze and compare individuals and their performance. These reports can be generated for any period of time, with no restrictions. It will display:

  • Units Sold
  • Front and Back Gross
  • F&I Reserve Gross
  • F&I Products Sold/Gross
  • Total F&I Gross/Sales
  • Tracking and Averaging
  • Overall Results (who’s performing better)
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CSI

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My Dealer KPI provides forward thinking auto dealers the necessary tools to achieve and maintain their goal of a high CSI. CSI is an excellent measure of customer satisfaction and is a cornerstone for customer retention and strong dealer/ manufacturer relations.

The CSI survey is sent out from the manufacturers via email, letter or phone within a few days of the sale. These surveys give customers a way to share their opinions about their buying experience and all it takes is a few bad surveys to receive a low CSI month. The only way to know if your customers are completely satisfied and are going to give you all 10s is to have an after-sale follow up process.

My Dealer KPI provides dealers with a follow-up process that will make sure your customers are 100% satisfied as well as provide the opportunity to resolve any negative feedback that may not have been apparent during the sales, finance, and delivery process.

My Dealer KPI immediately sends out an alert message to each salesperson after they sell a vehicle. They have 24 hours from the time of sale to call their customer and thank them for their business and to make sure they are delighted with their overall experience. If the salesperson does not make the call within the required 24 hours, an alert will be received by a sales manager/customer relations manager letting them know that the call was not made.

Customer Concerns

Customer concerns are inevitable at any dealership. Addressing and resolving those concerns in a timely and professional manner helps dealerships achieve superior customer satisfaction, retention , and high CSI.

My Dealer KPI has the ability for any dealership employee to log a customer concern across any department and allocate that concern to a department head for resolution. The system will show if the logged concern is untouched, is pending resolution or if it has been resolved and closed. For those concerns that haven’t been addressed in the allotted time frame set-up by the dealership, alerts will go out to the General Manager, department head and the other employees initially alerted to the customer concern.

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We Owe

When a customer purchases a vehicle, they often times buy additional products at the time of sale that need to be ordered and/or installed. These purchased products become a "we owe" or "due bill" for the dealership. It is crucial to complete the installation and close out these "we owe" and "due bills" ASAP by getting the parts ordered and keeping the customer in the loop to set-up installation appointments, etc. A sale is never complete until a customer has everything they purchased at the time of sale!

My Dealer KPI ensures that all "we owe" and "due bill" customers are taken care of immediately by logging them at the time of sale. This process saves valuable time and resources , as well as holding those involved accountable, by sending alerts to the applicable departments (i.e. sales, service, parts, client relations manager, etc.) about what needs to be done on their end to install the customer’s products and close out the "we owe" or "due bill".

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