September 29, 2020

More changes to come for F&I process online

Automobile dealerships changed digital processes radically through the coronavirus pandemic, especially the finance-and-insurance portion.

A new survey from F&I product provider Protective Asset Protection indicates more change is on the horizon — especially when it comes to allowing customers to research F&I products ahead of time.

Sixty-five percent of the survey’s 400 dealership respondents said adding F&I product information to their websites was their next priority. More than half of respondents also said customers should be able to select and purchase F&I products and finalize all paperwork online.

The changes themselves are not new — but the levels of dealership adoption may be shifting toward a majority.

“Creating a digital retailing environment with access to F&I product options is paramount to the success of any online retailing strategy,” Rick Kurtz, senior vice president of distribution at Protective, said in a statement.

Dealerships have been incredibly flexible and fast-moving when it comes to transacting online in the COVID-19 era. But many believe there are more changes on the F&I horizon.