NADA 2023

JM&A Group’s Virtual F&I Addresses Unapplied Labor in F&I Offices

Service increases efficiency and allows dealers to dispatch more deals to top performers

Implementing centralized virtual F&I is one example of how JM&A Group is working with its dealer partners to use technology to educate consumers, add efficiency, enhance customer satisfaction and increase profitability.

Data shows that on average, in-store F&I managers only touch 60 deals per month and operate at 46% productivity, or less than half of the time they are at the store.* Virtual F&I can significantly decrease that unapplied labor rate by allowing a single F&I manager to deliver deals across multiple stores at one time. This modification to the dated F&I process also assists dealers in keeping pace with evolving industry trends and consumer preferences.

“We have found that dealerships that have implemented our centralized Virtual F&I strategy have significantly decreased their unapplied labor rate, while increasing customer satisfaction,” said Jonathan Jordan, director of Retail Strategy for JM&A Group. “Through this process, we are seamlessly allowing our partners to place one of their best F&I managers in the room to close the deal every time. And what’s more, this has caused performance and profitability to go up.”

JM&A Group began piloting and testing its Virtual F&I process with dealership groups of varying sizes across the country in 2018. Since that time, the company has supported more than 22,000 virtual deals while maintaining profitability per vehicle retailed and selling an increased number of products per deal.

“For years, the changing demands of automotive customers have propelled dealerships and their service providers to implement faster, more streamlined processes to complete the sales transaction. While Virtual F&I is still very new relative to the industry, many of our dealers have adopted the methodology and achieved tremendous success in this process,” said Jordan.

One such success story is Hall Automotive, an 18-store dealership group that served as part of the pilot for JM&A Group’s Virtual F&I launch. Today, Hall Automotive has three full-time Virtual F&I personnel at its corporate headquarters who serve all 18 dealerships in the group as needed, delivering real value. The improvement has taken several forms, including increases in F&I PVR, overall F&I gross and the total number of deals completed.

Through its Virtual F&I process**, JM&A Group delivers:

  • Proven best practices on how to facilitate the F&I transaction using video communication technology, regardless of where the consumer and F&I manager are physically located.
  • A comprehensive Virtual F&I playbook, including process maps, rollout plans, thought tracks, technical requirements, and other resources to support the implementation and management of Virtual F&I at scale.
  • Strategies on how to utilize Virtual F&I to complete more F&I transactions and outperform industry standards.

To learn more about Virtual F&I, visit us at jmagroup.com.

*Average based on a survey of more than 1,700 dealerships nationwide.
**While JM&A Group can assist you with setting up a Virtual F&I process, we cannot provide legal advice regarding state-specific regulatory requirements relating to the online selling process. Please consult your dealer counsel and dealer association for information on your state’s regulatory requirements.

About JM&A Group
JM&A Group, a leader in the F&I industry for more than 40 years, serves more than 3,800 automotive dealerships nationwide. Comprised of Jim Moran & Associates, Inc. (JM&A), Fidelity Warranty Services, Inc. (FWS), Fidelity Insurance Agency, and Courtesy Insurance Company, it provides a variety of products and services such as F&I training and consulting, vehicle protection plans, used vehicle certification programs, prepaid maintenance plans and GAP programs. Additionally, the company has more than 800 associates, including a dedicated sales force of 300+ associates who support process implementation for dealer operations and digital sales strategies. National Truck Protection Co. Inc., a division of JM&A Group, is a leading vehicle service contract provider in the commercial truck industry and serves customers across a variety of channels throughout the U.S. and Canada including OEM, independent dealer groups, aftermarket truck resellers, agencies and direct-to-consumer. For more information about JM&A Group’s products and services, contact us at 1-800-553-7146 or visit us online at www.jmagroup.com.

JM&A Group is a division of JM Family Enterprises, Inc., a privately held company with $18 billion in revenue and more than 5,000 associates, which is headquartered in Deerfield Beach, Florida. Interact with JM Family on Facebook, Twitter, Instagram and LinkedIn.

About JM Family Enterprises, Inc.
JM Family Enterprises, Inc. was founded by automotive legend, Jim Moran in 1968. It is a privately held company with $18 billion in revenue and more than 5,000 associates. Rooted in automotive and united in its strong culture and core values, JM Family is in the business of helping other businesses succeed. As a long-term partner, it is invested in its companies, associates and its communities. Driven by exceptional performance, current subsidiaries are in the automotive, business services, financial services and franchising. Its family of companies includes: Southeast Toyota Distributors, JM&A Group, World Omni Financial Corp. (dba Southeast Toyota Finance), JM Lexus, Home Franchise Concepts®, Futura Title & Escrow, and Rollease Acmeda. Interact with JM Family on Facebook, Twitter, Instagram and LinkedIn.