If given the choice between a fully customized, tailored suit or a generic off-the-rack one, which would you choose if the costs were the same?
My guess is that you would opt for a fully customized, tailored suit for a variety of reasons.
When going full custom, you get to choose your specific fabric, pattern, fit, and stylish touches like buttons, liners, and ticket pockets, among others. The bottom line is that you get to make it yours. And when you are sporting a one-of-one design that was specifically built to your measurements, you know you’re going to walk into the room with a bit more swagger!
The same applies to your suite of F&I products. Most big-box providers are just that: big-box providers. They are the off-the-rack choice in the F&I world; often ill-fitting, bland, and outdated options, and nothing bespoke to your specific needs. You get what they want to sell you, because that is all they have to offer.
Then there are the so-called ‘independent’ agents who masquerade around acting like they can put together a custom ensemble to meet your needs. Unfortunately, most ‘independent’ agents are no longer independent, and others are just not sophisticated or large enough to offer truly bespoke options.
The fabric, often the most significant decision in a custom suit or sport coat, is analogous to the participation structure; it is what will house all the other customized options. Big box companies steer dealers in a direction that is best for the company, not the dealer, and smaller independents don’t have the breadth of knowledge required to meet today’s dealer needs.
The liner, lapel, and number of buttons are the product selection portion. Stand-alone, or bundle? Applied product, or dry application? GPS, or theft labels? These are all important choices that should be just that, choices for the dealer to make, not decisions to be made for them.
The mother of pearl buttons, felt backing, working buttons, ticket pocket, pleats, or flat front are the differences between nicely tailored and fully customized. These are the terms, deductibles, and reserves for your suite of products. In true Savile Row fashion, these are the decisions that set you apart and make you feel ten feet tall and bulletproof. If you are a dealer and are not being provided with information on these items, then you must ask yourself why. Your needs, customers, and business practice are entirely different than the dealer down the street. Still, most providers will work themselves into a froth convincing you that their round peg will absolutely fit into your square opening.
You are a dealer, which means you are unique in a great way, so don’t you think your products, processes, and participation structure should meet your unique needs?
If you want to experience what a fully customized, holistic F&I solution looks like, then reach out to Advanced Dealer Solutions at contactus@advdealer.com to learn how we can up your F&I game.
