At McGeorge Toyota in Henrico, Va., the sales managers do the job that a finance and insurance manager typically does: menu-sell F&I products and arrange financing.
That arrangement would infuriate most F&I managers. After all, financing deals and pitching protection products is an F&I manager's job and the basis for their pay.
Oddly enough, this arrangement was the brainchild of an F&I guy.
"Rivalry between the sales and finance departments does not exist here," said Ed Adams, finance director at McGeorge Toyota. "It's not a matter of who's in charge. From the sales side to the finance side, it's all about trust."
Last fall, Adams taught the dealership's three sales managers to sell F&I products from a menu. They also discuss financing with the customer. Adams wanted to eliminate the customer handoff from sales to F&I, thereby easing the buying process for customers.
The result is higher customer satisfaction scores, faster transaction times and a boost in revenue on both F&I and new-vehicle sales. The dealership's two F&I managers, Adams and the sales team all share a portion of the back-end income generated.
"By working together with our sales department, we each empower the other," Adams said.