Embracing Digital F&I

2016 will be another year of accelerated growth in the ongoing shift toward online retailing. Thousands of auto dealers are already taking advantage of this evolution in the car-buying experience, and thousands more are sure to follow this year.

Consumers can buy nearly everything online, from TVs to paper towels, an experience we call “shopping cart eCommerce.” And those expectations of convenience are translating to auto retail and finance experience as well. However, cars don’t fit in shopping carts and the shopping cart eCommerce model doesn’t work for automotive retail.

Selling cars is a relationship business. It always has been and it always will be. The personal connection will always be an integral part of the equation. For F&I specifically, the Internet is a communication power tool that enables consumers to research products and put them in their consideration set before going to the dealership to verify and buy.

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Originally printed in April 2016 P&A Magazine. By Mike Burgiss, VP of Digital Retailing with Cox Automotive