Why Your Store Should Private Label All F&I Products
Chances are your dealership has a marketing person or someone that is tasked with helping to increase your brand in the community and surrounding areas. One way to help increase your brand’s exposure in the local market is to take advantage of private labeling your F&I products. We know...that was a quick pivot, right? But it’s important to understand the role of private labeling and how it can help, especially now.
It’s All About Your Name
If your administrator allows you to private label the products you sell, DO IT. truWarranty encourages this with every dealer because we have seen the power of attaching the dealer name to all products. It makes it ‘sticky’ to the local car shoppers. Attaching your dealership name to F&I products is easy and your administrator should be able to work seamlessly with your marketing team to not only come up with creative ways to label these products (ie- ABC Toyota Total Care Protection or something like that), but also be able show you ways to leverage it within the marketing channels they use currently (social media, print, etc.).
Helps Profits, Too
When customers see your name on the extended warranty plan instead of your provider’s, they are naturally more apt to consider purchasing it. Why? Because they know you, they don’t recognize or know anything about your provider. Help your F&I staff by private labeling and watch both the penetration and PVR rise. Car buyers will see your products as truly yours as though all claims etc will flow through your store and likewise that will have a higher value to the customer to buy YOUR tire & wheel or YOUR appearance package. And your service lane will be happy, too. If your VSC plan has your dealership name on it, they will assume they must bring the car back to your store for repairs. The reality is they can go anywhere but this will tie them to your store more easily just by putting your name on the plan.
Click here to see how truWarranty can help you get your name on every F&I product.
