Well, here we are at the halfway point of yet another banner year in F&I and like you, I’m tired of hearing everything getting blamed on the virus. I don’t know about you, but I’m here getting my fair share as I’m certain you are. Even though the semiconductor chip has caused widespread new vehicle shortages, supply in demand has witnessed record front end grosses. Smart dealers have been paying premium prices well beyond current used book levels to keep things rolling and the truly smart ones are filling a niche of their lots with customer purchased units. Almost daily, we get visits from customers wanting to sell and it’s making a difference on our bottom line. How long this lasts is anyone’s guess but I do believe it will be awhile and I’ll be interested to see how sales forces nationwide handle pricing once inventory levels return. Will they wilt and return to a race to the bottom of hold-back or gradually find a happy medium of a fair gross margin somewhere in the middle? It’s anyone’s guess at this point. One thing is for certain, F&I departments continue growing in the midst of all this. I’m seeing record production throughout the reports in many states and hope you’re getting a piece of this action. This issue is pumped with some really great stuff and I hope you enjoy the hard work the staff has put into it. MM Bits & Pieces………. Partners… Checkered Flag Auto Group has acquired Pomoco Chrysler, Dodge, Jeep, Ram, Alpha Romeo and Fiat in Newport News, according to a May 25 announcement. The acquisition is Checkered Flag’s first to include U.S. car brands and brings a new standard of customer care for the dealership’s customers, including renovation plans, company president Steve Snyder said. Movements… Matt Clemmons has rejoined CNA National, resuming his position as regional vice president for the north central region of the U.S, which includes Illinois, Indiana, Michigan, Ohio and Wisconsin. F&I 20/20© is a bi-monthly Newsletter for the professional F&I Practitioner. This publication is a division of Ethical F&I Managers (EFI™) and is copyrighted. All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law. For permission requests, write to the publisher at: Marv Eleazer 4043 Liska Circle Valdosta, GA 31605 fordpantera@yahoo.com (229)460-3310 Editorial Board Giving it Back... In 1996 founder Terry Franz and Mike Van Noy owned Car Biz, a used car lot in Kansas City, Missouri. That year, many people were looking to purchase a car to only be turned down because they were out of work due to medical emergencies, family issues or other circumstances in life. Car Santa gives away over 300 cars a year just in the Kansas City metro alone. 3 Gregory Arroyo garroyo@dealersocket.com Tony Dupaquier tonyd@theacademylive.com Shannon Robertson shannon.robertson@afip.com G.P. Anderson gp.anderson724@gmail.com
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