F&I (Finance & Insurance)
Definition for australia automotive professionals.
F&I stands for Finance and Insurance, the department within an auto dealership responsible for arranging customer financing and presenting a menu of ancillary products after the vehicle sale price is agreed upon. The F&I manager (also called a business manager) works with lenders to secure customer financing (earning dealer reserve on rate markups) and sells products including extended warranties (VSC), GAP insurance, tire and wheel protection, paint/fabric protection, and prepaid maintenance. F&I profit is called back-end gross and can represent $1,500–$2,500+ per vehicle retailed for high-performing stores.
Australia Context
In the australia dealer market, f&i (finance & insurance) operates within the context of Australian Consumer Law (ACL) and National Consumer Credit Protection Act (NCCP). Dealerships running Pentana, Titan DMS, Auto IT encounter f&i (finance & insurance) in their daily workflow. DealerInt captures the decision layer around f&i (finance & insurance) that your DMS wasn't designed to track.
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