*Tell us about your hobbies and leisure time away from the office. I’m a big NASCAR fan, and my wife and I normally attend at least four races a year. We typically attend the SEMA show in Las Vegas every year. We also enjoy spending time on our boat. *Let’s move over a bit to your family. How supportive has your wife been in forming your career? Reahard & Associates would not exist without my wife. She was convinced we could create a complete F&I training program that dealers, agents and companies would gladly pay for, because it was totally different than what most companies were offering back then. The 3-day Achieving F&I Excellence class is the foundation on which we built our ongoing, in-dealership and online training. Without her belief in what we were teaching, her confidence in my abilities, and her working side-by-side to make sure we were successful, R&A would not exist. *How do you view the future of F&I managers as an integral part of dealerships going forward? The F&I department will always be an integral part of dealerships as long as there are dealerships. F&I plays a key role in ensuring all documents are properly completed prior to delivery of the vehicle. F&I also acts as a check and balance for the sales department, to ensure there is no misrepresentation being made by anyone involved in the transaction. F&I professionals have a bright future, as long as they add real value to the customer’s purchase experience. Customers will always appreciate having a knowledgeable professional who can assist them in obtaining acceptable financing, explaining their options, answer their questions, and help them make the right decision for them and their family. *Do you believe the F&I process should be trained respectively by compliance experts and F&I trainers? Yes. When dealers send their manager for F&I training, they expect them to come back and sell more products and make more money. They also expect their manager will learn sales techniques and follow a process that will be compliant and a good experience for the customer. Unfortunately, in the F&I office, ignorance can get you in just as much trouble as deception. While we cover compliance and include the laws and regulations in our training, I would encourage every dealer to ensure their managers are also AFIP or ACE Certified. “Training is a process, not an event. The worst thing a dealer can do is send their manager to a class, and then let them twist in the wind” *In your opinion, is there any real future of taking the F&I process completely online? Selling intangible products like VSC’s and GAP is quite different from selling tangible products like a vehicle. While it is more difficult to sell these products online, it is certainly possible with Zoom and video conferencing. However, just as we know in-person education is more effective than online learning, so is in-person selling. If so, what would that look like and how different would the training be? Whether more of the F&I process moves online is going to be determined by the customer. However, I believe dealers know they have to ensure customers enjoy the purchase experience and the F&I process, so that the vast majority of customers will want to come to the dealership to buy and take delivery of their new vehicle. *How often should an F&I manager upgrade their training? Training is a process, not an event. The worst thing a dealer can do is send their manager to a class, and then let them twist in the wind. You can’t become a professional at anything after a week of training. Continuing education and ongoing training should be a part of every F&I manager’s weekly routine. Does Reahard & Associates offer an advanced class and if so, how does it differ from basic training? Yes, our 2-day advanced class, held typically once a year, is for managers who have attended our Achieving F&I Excellence class and builds upon their initial training. Attendees must have at least one year of experience, but most have many more. It’s primarily two days of role-playing with other experienced F&I professionals following the same F&I process they follow, to identify areas of potential improvement. *And finally, what legacy do you hope to leave behind when you retire? I hope we helped improve the customer experience by changing the perception of F&I managers. Our job in F&I is not to sell stuff. Our job is to help customers. 7
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