F&I and Showroom

NADA 2014

F&I and Showroom, the industry's leading source for F&I, sales and technology

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Dealer Profle On the left, Rosa Quintero and Leandro Guidi of Mercedes-Benz of Coral Gables demonstrate Dealertrack's eMenu in the F&I offce. On the right, the dealership's F&I team members, including (from left ro right) Lourdes Guterriez, Mazher Majeed, Scott Cooper, Quintero, Guidi and Carlos Pedre, pose with the eMenu for iPad. iPad, the results are forwarded to the F&I manager. The producer can also see what videos the customers viewed and how long they viewed them. "I think many dealers are fnding that that helps them to focus their sales pitch on the products that resonate the best with customers," Stejskal says. "And that then drives a lot of that PRU increase." Transparency Driver Dealertrack's implementation team offers several different options for dealers to receive training on the eMenu, including webinars, in-dealership seminars and over-the-phone follow-up. Cooper and his team took advantage of a webinar before implementing the eMenu. Dealertrack's team approaches each dealership differently. Stejskal says that there are two common processes, but each can be adapted to ft a dealership's current F&I process. "There are lots of different ways that dealers execute the F&I process," he explains. "So you've got some folks who are handing it to the consumer ahead of time, like Scott [Cooper] is. You've got other folks who are using it as a tool together with the consumer. And so our implementation team will help the dealer kind of pick the best process and then train to that." 14 F&I and Showroom NADA 2014 Once the F&I manager reviews survey results and fne-tunes his or her product pitch, the customer is shown Dealertrack's eMenu on the iPad. Mercedes-Benz of Coral Gables has seven core products in the lead column of its menu, including tire-and-wheel, paintless dent removal, LoJack and more. What Cooper likes about the eMenu is the ease and speed of editing the menu. "It's certainly easier for the F&I managers to pick and choose the products and change the terms on the fy, rather than going into an Internet browser, picking a product, reprinting it, going back a couple of times," he says. "This allows me to do that on the fnal stage and the customer gets to see how things change their payment arrangement. So it's very transparent in that way." Work in Progress While the process of using the eMenu has not yet been perfected at Mercedes-Benz of Coral Gables, Cooper believes things are moving in the right direction. For its part, Mercedes-Benz believes tools like the eMenu will help dealers reach Millennial and Gen X buyers, and it fully expects older generations to embrace web- and tabletbased car shopping as well. It's one of the reason the OEM launched a cus- tomer service initiative in 2012 called Customer One. Cooper describes it as a "Ritz Carlton service level." "MBFS has decided they want to go down that path with the process; technology being a big part of it," he says. "Especially since their cars are very technology-oriented." Stejskal also notes that the growing number of Millennials entering the market demands that dealers get onboard with new technology. "The consumer is moving toward that technology and the dealer's competitors are moving toward that technology," he says. "And while you can deliver a really high-quality process that's completely manual and doesn't include any of this technology, it's going to be increasingly diffcult to deliver that in a way that resonates with the consumer. "It used to be that a consumer might visit four dealers. Now it's barely more than one dealer that a consumer visits. And they've done all of the research and picked the dealer online ahead of time," he adds. "And so that consumer is pretty knowledgeable. They've got a pretty high level of comfort with technology, and they are expecting the dealer partner to be able to deliver an experience that kind of mirrors the technology they used to get to that buying decision in the frst place."

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