F&I Product Rating and Contracting

Transcription

1 F&I Prouct Rating an Contracting F&I Prouct Rating an Contracting helps the F&I Manager accurately rate proucts an services within a eal. It also helps simplify contracting, reuce F&I income ajustments, an gives you flexible printing options with no specialty harware neee. Follow these easy steps to set up an use F&I Prouct Rating an Contracting with your DMS. NOTE: You will nee access to FI Setups as well as know the name of your provier an the type of each prouct that you offer. If you cannot locate your provier from the list, please contact them an ask them to join the PEN network, or click the Where s my Provier button. Aitionally you will nee a Provier Dealer Coe for each provier/prouct, which can be obtaine irectly from your agent or provier to enable erating an econtracting. To fin out if your DMS supports F&I Prouct Rating an Contracting, contact an CDK Sales Representative or call option 4 option 2. For assistance setting up F&I Prouct Rating an Contracting, see HELP on the F&I Desktop in Drive Hassell R. Hoffman Estates, IL ckglobal.com Page 1

2 F&I Prouct Rating an Contracting Setup an Registration Step 1: Register Dealership In this step, you will register your ealership so that you can customize your proucts an begin receiving instant ata from your proviers Hassell R. Hoffman Estates, IL ckglobal.com Page 2

3 F&I Prouct Rating an Contracting Step 2: Select Proucts an Establish Pricing Rules In this step, the rules for profit will be set for each prouct. As an ae convenience, you can control the markup over cost by prouct to help reach profit goals an stanars. Simply enter the values for Maximum profit, Minimum Profit an Default Retail Profit that management woul like to have enforce Hassell R. Hoffman Estates, IL ckglobal.com Page 3

4 F&I Prouct Rating an Contracting Step 2: Select Proucts an Establish Pricing Rules (cont ) Retail Price Overrie You can enter a $ value, a % value or both (% ae, then $ when both are entere) to represent the markup for each price. As the values are entere, you can see how they apply to a cost. Maximum by setting this, you will not be allowe to sell the prouct above this markup value (sets Max Profit) Minimum by setting this, you will not be allowe to sell the prouct below this markup value (sets Min Profit) Retail by setting this, you will see this markup as the suggeste retail price for the prouct (sets Initial Sale Price) Keep in min that this markup is then applie to any coverage that is prouce by the F&I Prouct Rating engine, thus enforcing your profitability goals with every prouct quote/sol in the F&I Office. Once you have the pricing rules establishe, you will click Upate to store the changes. The pricing rules winow will hie again Hassell R. Hoffman Estates, IL ckglobal.com Page 4

5 F&I Prouct Rating an Contracting Step 3: Map Proucts to DMS Locations In this step, you will map each prouct to the location of your choice within your current DMS setup. Rules Enforce: 1. Any prouct mappe to We Owes applies to all eal types. Therefore any prouct mappe to We Owes MUST NOT be mappe to any other location type (Purchase or Lease). 2. Any prouct mappe to Purchase can also be mappe to any an all lease methos (an visa versa). 3. Provier/proucts from within a prouct type can be mappe to ifferent locations (as long as the above rules are followe) Hassell R. Hoffman Estates, IL ckglobal.com Page 5

6 F&I Prouct Rating an Contracting Rating an Contracting Proucts within a Deal Step 1: Rate Proucts In this step, you will be able to a proucts within a eal an receive real-time pricing from your proviers. After a few simple prompts, your selecte proucts will be ae to the eal with accurate pricing Hassell R. Hoffman Estates, IL ckglobal.com Page 6

7 F&I Prouct Rating an Contracting Step 1: Rate Proucts (cont ) 1950 Hassell R. Hoffman Estates, IL ckglobal.com Page 7

8 F&I Prouct Rating an Contracting Step 2: Contracting an Printing In this step, you can create an print new contracts from your proviers as well as retrieve or voi previous contract forms. The Policy Number is automatically entere into the eal, eliminating keying errors an helping to reuce income ajustments Hassell R. Hoffman Estates, IL ckglobal.com Page 8

9 F&I Prouct Rating an Contracting Step 2: Contracting an Printing (cont ) 1950 Hassell R. Hoffman Estates, IL ckglobal.com Page 9

10 F&I Prouct Rating an Contracting Step 2: Contracting an Printing (cont ) 1950 Hassell R. Hoffman Estates, IL ckglobal.com Page 10

11 F&I Prouct Rating an Contracting What Goes on Behin the Scenes? When ata that woul require re-rating is change, the user is prompte to o so. (a picture) To fin out if your DMS supports F&I Prouct Rating an Contracting, contact an CDK Sales Representative or call option 4 option 2. For assistance setting up F&I Prouct Rating an Contracting, see HELP on the F&I Desktop in Drive Hassell R. Hoffman Estates, IL ckglobal.com Page 11