The 20-strong team, headed up by Capital Bank Motor director Paul Jordan, will focus entirely on searching out solutions to enable dealers to protect and maximise their F&I income. It will offer a range of products and services which will extend into areas such as a tactical offers programme, designed to help a dealer to react quickly to changes in the marketplace.
Jordan says: “For motor dealers the funds generated from F&I products is both a very important income source and a significant customer retention tool. The growth in direct lenders, who now account for around 50% of the finance provided for car buyers, has seen this profit centre for dealers come under intense competition and represents a huge lost profit opportunity.
“Our belief is that with a specialist F&I team offering individual solutions we can help dealers not only counter other lenders, but also generate enhanced levels of F&I for our dealer and manufacturer partners.”
The new team will consist of developers providing consultancy to motor dealerships and trainers based in the field and backed up by an analysis team at Capital Bank Motor’s Speke head office.