Receive Full No-Charge Access to This Resource
Sign Up for a FREE 30-Day Trial and we will register you for this live event!
Plus Provide Member Log In Access to Over 300 other Online Dealership Management Topics, Reports, and Related Resources!
F&I Pay Plan Options and Choices
Featuring: Becky Chernek - Chernek Consulting
Air Date: July 21, 2022
1pm Eastern/ 12pm Central / 11am Mountain / 10am Pacific
Program Length: 30 minutes
From 2020 thru the current market, Pay Plan formulas, in many cases, produced results that no none could have expected. Unintended consequences included paying F&I Managers way beyond the norm.
Since the dealership was likewise performing very well, this was not too much of a problem. However, as the market inches toward something more like normal… problems could arise.
Becky Chernek joins us for a Q&A session on current trends in F&I compensation planning and offers some alternatives that may provide the way forward so that huge swings in overall compensation are less likely.
Becky will respond to:
How has the explosion of new and used car gross profit impacted F&I Pay Plans
Can you outline for us the various Pay Plans Formulas in use today and which appear to be working best for all concerned?
Some have suggested that “paying for process” rather than financial results may be the way to go. This would reward performance of the steps in the process that are most likely to improve the bottom line… Please comment…