Motivational Compensation Plans and Incentives

Motivational Compensation Plans and Incentives

Our history of looking across a wide array of single and multi-store dealerships has informed Virtue Consulting in the creation of powerful motivational and directional pay plans. This will ensure that any F&I compensation plans and policies are purposeful and in line with the dealership’s business goals. Having a complete presentation, providing full disclosures and finishing all administrative tasks for each deal will increase per-car averages, reduce paperwork errors and help solidify outstanding relationships with each customer. This will translate into higher per-car averages/F&I profit per sale and ultimately higher CSI scores.

A successful F&I compensation plan must contain three major components.

• Directional – It must clearly describe to the finance manager how the dealership’s goals should be achieved.
• Motivational – There must be a clear formula of motivational pay plan for your dealership in order to keep the finance manager focused on maximizing profits all the way through to the last deal of the month, each and every month.
• Fair – A dealership finance manager incentive program should always be fair to both parties—the finance manager and the dealership—and it must always look after the dealership’s best interest, while providing fair compensation to the finance manager for a job well done.