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in, noting the general condition of the in- wallet questions. Do not move forward uct sales. This dealer insists that if an F&I
terior and exterior without opening or get- with the transaction until you can get a manager conducts a menu presentation via
ting into the car. successful clearance of both out of wallet video conferencing as he or she would face
questions and Red Flags. to face, the customer will likely purchase
After the test drive, the salesperson re- products.
turns to the dealership and all the plastic 4. Consummate
and rubber are properly disposed of and the Deal He conducts the menu process from begin-
the vehicle is sanitized. ning to end using a video conferencing ser-
With credit information in hand, negotiate vice, using the word tracks for a standard
3. Gather Credit the deal to agreement as if the customer close. After the menu presentation, a sepa-
Application were in the showroom. The salesperson rate set of out of wallet questions are asked
emails the final pencil to the customer for and confirmation is retained in the deal.
The salesperson resumes the sales and ne- signature and return. The first and final
gotiation process only after returning to pencil do not contain non-public, person- 6. e-Contracting,
the store as if the consumer were in the al information and do not have a require- e-Signing, e-Notary
dealership. The sales manager generates ment to safeguard the document.
and emails a first pencil, using the deal- Here is where the processes have disparate
er’s standard rate and sight unseen trade 5. Share Voluntary solutions. At last count, a consumer can
allowance. Protection Products sign up to 100 times for a standard retail
financed deal. Getting all of those signa-
When the customer wants a more specif- Some F&I managers believe they cannot tures on eDocs requires a bit of research
ic payment quote, the F&I manager sends sell voluntary protection products to re- and perseverance. The dealers I spoke with
a link to the customer to enter the credit mote delivery customers. The dealer I leverage RouteOne, Dealertrack, and their
application information using a secured spoke with about this process says his F&I finance sources for e-contracting. They
transmission source. Before sharing any managers who have embraced this it are generate other e-docs through their DMS
further information, a manager sets up a averaging three products per remote sale. where available.
video conferencing session and has the The F&I managers who have not embraced Continued on page 12
customer successfully answer the out of the process continue to strike out on prod-

Mobile Dealer

MIADA MISSISSIPPI DEALER Q2 2020 | 5