The AutoFi Blog

The automotive industry’s top experts offer their best tips, how-tos, and insights to help you fuel digital sales.

The buyer's experience is a critical component of any retail experience; by 2020, it will surpass product and price as a vital consideration of purchase. Buying anything, particularly a big-ticket item like a car is an emotional experience. Human beings are emotional creatures. In today's world, people are finding themselves busier than ever before. In some ways, technology has made our lives more comfortable, and everyday tasks that used to take hours now happen within a fraction of the time. As technology has made parts of our lives faster and easier, we've responded by filling our time with more and more activities. 
Selling ancillary products is paramount to dealership profitability. Driving results in the F&I department has become central to the modern dealership strategy. The importance of F&I earnings increases as front-end margins compress, interest rates rise, and SAAR cools. With the adoption of digital retail, F&I is moving upstream in the customer buying process.
Businesses all over the world are adopting digital retailing. Today, the digital retail space in Canada is on fire. Technology has allowed retailers to implement automation and customer-focused applications that make buying products and services accessible and convenient. One such example of digital retailing growth is the launch of AutoFi, an end-to-end retail solution for car dealers with real-time lender offers.
Over the past few months, you may have heard the digital retailing buzz. Some dealers wonder if it will impact F&I profits. In a recent article published in F&I and Showroom’s online magazine, Nick Waddell, general manager of Central Florida’s Peterson Toyota of Sarasota, believes that dealers succeed by creating a “measurable difference” in customer experience. Nick has been in the automotive business for nearly 25-years primarily under the Toyota brand. Having a background as a finance director, he became a general sales manager, setting monthly records and mentions the mentorship of great GM’s at Toyota.  

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