The venture provides participating retailers with a full-time finance and insurance specialist who will look to maximise the profit opportunity presented by every car buyer on a range of products, including Gap, MoT, warranty and payment protection.
Mystery shopping exercises reveal that sales staff often fail to offer finance to potential buyers, possibly fearing they might walk away from a deal. However, they are missing out on a massive profit opportunity, says Tim Heavisides, Car Care Plan chief executive.
“While the plcs and larger groups can employ dedicated business managers, many smaller dealers are not able to focus on F&I as much as they should,” he says. “Some train sales staff to do the job, which dilutes the service, but this programme enables them to maximise F&I commission and offer a better service without funding the costs involved with finding, training and managing a business manager.”
Dealers pay a monthly fee for the F&I manager, who is employed and trained by programme co-ordinator Automobile Marketing Systems, and adopt an individual business plan designed to increase penetration levels.
Twenty-five dealers are taking part in the pilot, which is likely to last six months. Car Care Plan hopes the scheme, which could appeal to other manufacturers, to attract most of Vauxhall's 400-strong network.