With new vehicle prices dropping for the 10th consecutive month in July, car buyers are gaining leverage, especially as high loan rates continue to shape the market. For dealers, this shift presents both challenges and opportunities. One critical area where dealers can maintain and even boost profitability is in the Finance and Insurance (F&I) department. WebBuy, a dealer-centric digital retailing platform, empowers dealers to maximize F&I gross by giving them full control over the financing process.
The Current Market Landscape
According to recent reports, new vehicle prices have been on a steady decline, giving buyers more negotiating power. Combined with high interest rates, this trend can put pressure on dealer margins. However, dealers who can effectively manage their F&I processes can still come out ahead, despite these market challenges.
Maximizing F&I Gross with WebBuy
WebBuy’s proprietary finance offer engine, BidBoard®, allows dealers to take full control of the digital retail financing process. Unlike other platforms that might prioritize the interests of specific lenders, WebBuy is committed to protecting dealer autonomy and profit centers.
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Control Over Lender Offers: With BidBoard®, dealers decide which lenders can present offers to their customers and under what conditions. This means you can prioritize relationships with lenders that offer the best terms for your dealership, ensuring that your F&I department remains a key profit center.
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Real-Time, Auto-Decisioned Financing: BidBoard® provides real-time, auto-decisioned finance offers, enabling a seamless and efficient process that keeps customers engaged and less likely to shop around. This not only improves the customer experience but also helps close deals faster.
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Dealer-Centric Approach: WebBuy’s platform is built with the dealer’s interests at heart. By maintaining control over the financing process, you can maximize F&I gross, even in a market where vehicle prices are declining.
Conclusion
As new vehicle prices continue to drop, dealers need to find new ways to maintain profitability. WebBuy offers a powerful tool in the form of BidBoard®, enabling dealers to maximize their F&I gross by keeping control of the financing process. In a shifting market, having the right tools to protect your bottom line is more important than ever.
