July 10, 2020

F&I finds keys to adapt

Perhaps nothing better exemplifies the challenges finance and insurance offices have faced during the coronavirus pandemic than this: To allay virus concerns, the F&I folks at an East Coast dealership would spray contracts with disinfectant before sealing them in a bag and sending them to the customer.

And nothing epitomizes seeing this situation as an opportunity more than companies rushing electronic remote signature products into the marketplace so F&I managers could put down the disinfectant.

This special section explores how the coronavirus pandemic has presented the F&I office with numerous obstacles but also opportunities to innovate, launch products and reach new customers. In these pages, Automotive News examines how anxiety over COVID-19 has resulted in an uptick in F&I product penetration as well as fraud concerns.

The challenges for the F&I industry are far from over — and same with the opportunities.