Sales Consultant Considering F&I position
Hi everyone, I was hoping for some good advice. I have 10 years experience in banking/sales & automotive consulting. I recently received an offer to be an F&I manager at a dealer who averages about 80 cars per month. They are adding 1 F&I position as they currently only have had 1 for the past 3 years. The dealer has brought in a new GM about 8 months ago and so far the results in sales are promising. They did 170 cars in May but on pace for about 85 for June. Anyhow, I currently have a flexible schedule with my job and I know the hours are rough in the car biz so I do expect some major changes that way. But, for someone who hasn't worked a day in a car dealer, do you think this is something I should pursue? The reasons I am considering is: 1) Opportunity for 100k + is apparently very reasonable and would be a pay raise of about 25k, 2) Benefits - I currently pay for my own benefits = expensive! 3) I have a young child - 11mo's old and don't want to miss her events in the future as well as seeing her before bed every night!.
I have been very successful at every sales job I've had and I do think my background does fit well. I just don't know on an ethics standpoint if this would be a good move... I mean, must I sell my soul to the devil if I take this job???
I appreciate your feedback!
Replies to This Discussion
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Permalink Reply by Scott Klein on
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Here's what I think you need to consider: What if after 90 day's they blow you out (they fire you). Will you be able to find a job that was paying you what you were making before you took the F&I position in a short peroid of time (less than 30 days). If you can find something that fast then I'd say give it a go, otherwise you're talking a big chance.
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Permalink Reply by Tony Troussov on
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Brett, rest assured you are not selling your soul to the devil. F&I is an exciting world of raw sales at its best! With that said, please know in order to make a decent living the F&I manager should sign out about 85-100 deals per month and on the low about 40-50 (this of course retail units). Other things to consider - what franchise is this dealership. What is the payplan payout. Will there be training? What about a guarantee for the first 3 to 6 months? In other words, Brett, just because the dealer sold this many cars does not mean they are positioned to prepare you for success. Once you have all this info then ask the question that Scott Klein mentioned - will you be able to get back into your field?
I hope this helps. If you have questions about F&I payplans feel free to reach out
atroussov@gmail.com
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