Quantech Q-F&I FAQ for Marine Dealerships
“What if our dealership doesn’t currently offer F&I?”
“What if we take care of F&I through a broker?”
“We do F&I manually. Why should we change?”
“What if we have an old DOS-based F&I system?”
“What if we have a DMS which already includes an F&I module?”
“Besides F&I, what else does your software do?”
“Does Quantech Q-F&I take care of forms?”
“What kind of reports does Quantech Q-F&I produce?”
“Does Quantech Do Menu Selling?”
“Does Quantech EVER charge extra for customer?”
"What do you charge for the software?”
“What makes Quantech better?”
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“What if our dealership doesn’t currently offer F&I?”
If you don’t currently offer F&I, you are probably leaving money on the table. Perhaps you feel your dealership is too small to afford getting set up, or perhaps you are worried about the regulatory and compliance issues that you will have to deal with.
Our answer is that virtually no dealership is too small to want to make more money on every deal. After all, it just makes good business sense to earn the money that is available to you. And your customers will be happier because customer satisfaction goes up when buyers are given the option to protect themselves and get financing at the time they make the purchase.
And if you think you are too small, just talk to lenders and insurance package providers. They’ll tell you that you’re not! We work with a number of insurance companies and finance providers and know that their business is all about taking care of dealers like you. Every sale counts in their business, and it should in yours too. (Oh, and if you need the name of a reputable insurance provider, talk to us and we can put you in touch with an excellent provider.)
Why leave money on the table, and why do a disservice to your customers? If you don’t currently offer F&I, you are depriving yourself of a lot of additional revenue. In fact, auto industry research shows that over 40% of revenues come from F&I at the average car dealershipSo if you want to make more money, F&I is for you!
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“What if we take care of F&I through a broker?”
If you currently use an F&I broker, you have every good reason to bring F&I in-house! With Quantech, you get the software you need to open your own F&I operation and keep 100% of the profits for yourself!
If you use a broker, you may feel you are too small to run your own F&I, but with the price of computers these days and the low-cost of Quantech Q-F&I software (not to mention that we hold your hand and help you through the whole set-up process), there is really no reason anymore not to do F&I yourself.
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“We do F&I manually.
Why should we change?”
We still encounter dealers who handle F&I deals manually, but once you try the automated route, you’ll be hooked. Not only does our software automatically fill out all your forms and contracts once the deal is complete, saving you and your customer considerable time, but it also helps you close the deal faster and more consistently.
Say you have done the calculations for the deal and the customer suddenly asks what would happen if he adds an extra $1,000 down payment, or if he suddenly wants to add another protection package, or look at leasing, or explore any one of the dozens of other variables in a deal. With the manual method, you’ll be pulling your hair out to model the deal before the customer walks away in frustration.
But with Quantech Q-F&I, the deal is recalculated instantly, every time you change a variable. And the system is so easy to understand that many business managers show the screen to the customer to follow along as they change the variables and recalculate the price. This gives the customer the sense that they are designing their own deal and picking the absolute best option for their personal situation!
So if you like to save time and make more money and have happier customers, Quantech Q-F&I is definitely for you!
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“What if we have an old DOS-based F&I system that works just fine?”
Many of our customers were in the same boat and upgraded to Quantech Q-F&I software because it is so much more flexible, more powerful, easier to use, and quite often cheaper, since we don’t charge extra for programming new forms or changing insurance tables.
In addition, because our software is up-to-date, you have the ability to sell new types of products that weren’t around when the DOS systems were developed. And Quantech Q-F&I also integrates with our powerful Menu Selling solution, which is not available with DOS systems.
Our engineers develop our software using all the latest Windows and Internet-friendly technology, so when you go with Quantech Q-F&I software, you will be completely up-to-date on a friendly Windows platform, rather than having to deal with the “Dinosaur Operating System.”
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“What if we have a DMS which already includes an F&I module?”
Many of our customers actually are in dealerships with established Dealer Management Systems. So why in the world would they use an external F&I system, you might ask? Well, why do people buy Alpine® stereo systems for their cars when manufacturers already include a radio, CD player, and speakers? Because people want the best performance!
DMS systems are generally focused around accounting, service, parts, and other areas of running a dealership, but they don’t specialize in F&I, so their F&I systems are more of an afterthought than the core system. After all, you can’t expect their software developers to be good at everything!
With Quantech Q-F&I, you get a specialty package built around F&I. Our software was developed by business managers, for business managers, so the system positively shines when you get in front of your customers. If you use an F&I system that does not handle transactions smoothly, it will actually cost you money because you will lose sales and have less satisfied customers. Using a poorly designed tool for F&I is like using a kitchen knife for brain surgery – it may do the job, but no surgeon (or patient) would be satisfied with the results. F&I sales is a delicate operation in the overall customer interaction and closing process: when you get the customer in the business office, you want a finely-tuned instrument that is perfectly designed to get the job done right!
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“Besides F&I, what else does your F&I software do? Does it do inventory?”
Actually, Quantech Q-F&I does F&I, Inventory, and a whole lot more! For an overview of Quantech Q-F&I’s capabilities, click here to open the Q-F&I brochure in a separate browser window. As you can see in the screen image from Quantech Q-F&I (click here to open an image of the Quantech Q-F&I main deal screen in a separate browser window), most every aspect of a transaction is centralized on one powerful Deals Screen, so you don’t need to flip around between screens and confuse the customer as well as yourself . . .
In addition to F&I, Quantech Q-F&I enables you to . . .
- Set up serialized inventory. If you use this powerful function, you can import full vehicle or unit information directly into the deal screen as well as print off detailed window stickers customized with the logo of your dealership! In addition, the inventory module does reports such as days on lot, summary vehicle listing, on order, detailed vehicle listing, sold vehicles, inventory valuations, and price list. It also stores options and packages with or without pricing and refurbishing information, as well as Buy fees, Lot fees, and detailed Repairs.
- Set up a number of insurance providers (in fact, we input and format all their rate tables and forms for you, and we keep these up-dated whenever changes are made!)
- Add/remove all after-market products such as Warranties, Life & Disability Insurance, and Accessories with a single click
- Set up your finance providers: (offer multiple lender comparisons!)
- Be your own finance provider with our “Buy Here Pay Here” option, which tracks and managers your in-house finance and lease deals
- Create a comprehensive customer management database, so you can pull customer info straight into the deal or use the step-by-step Mail Merge function for mailings and sales follow-ups.
- Start doing deals! Sit the customer down beside you and show them the best possible finance and insurance options as well as any other aftermarket items you want to sell them, such as extended warranties, service agreements, and accessories. Quantech Q-F&I works with online finance portals such as Curomax™ to streamline finance approvals. And as you make changes, the powerful deal engine recalculates everything on the fly in real-time, so don’t be afraid if your customer likes to ask questions or explore different payment options. One cool tool in the deals area is the QuickQuote feature, which lets you step out of a deal in progress and explore alternative deal structures with ease.
- Quantech Q-F&I includes advanced payment options: Roll-back, Lien Calculator, Deferred Payments, Quarterly – Semi-Annual – Annual Payments, etc.
- Simultaneous Finance and Lease calculations. Flip back and forth between lease and finance deals and let the customer compare!
- Handle complex taxes with settings personalized to the needs of your dealership and corresponding tax jurisdictions
- Capture Documentation Fees
Here’s a few more things you should know about the software . . .
- The powerful search engine lets you quickly find any deal, vehicle, unit or customer in the system
- A unique “profit clock” shows you the changing total F&I gross at every stage of every deal (with advanced profit tracking reports, breaking down deal details)
- Pricing information is hidden, so the customer never sees what they are not supposed to see.
- The automatic back-up function means you don’t have to waste time worrying about how to back up your data
- The software handles unlimited trades, and it swaps the sold unit out of inventory and the traded unit or units in, when the deal is closed. It even handles the complex tax calculations and what we call “negative financing” when the value of the trade is greater than the value of the vehicle being purchased!
- Track and report reconditioning details and costs
- Lien payout calculator
- The Calendar/Daytimer lets you track deliveries and follow ups
- The system is fully password protected with different levels of access, so you can give your sales people access to specific areas while keeping some areas private
- Quantech Q-F&I integrates with Web-based funding solutions, so you can get approval online in seconds and eliminate the need for dual entry
- A robust multi-site version is available for dealers with multiple locations
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“Once the deal is finalized, does Quantech Q-F&I take care of forms?”
The customer service people at Quantech set up all the forms for you when you first get the software, and we keep them up-to-date whenever there is a change. That way you have all forms available to close the deal. Just hit print and the forms go to any printer on your network (laser printer, ink jet, or impact printer), with all information already filled in.
Quantech Q-F&I also does the final bill-of-sale, insurance contracts, and forms for government regulations. And of course, if you change insurance providers or lenders, we will change all the forms for no extra charge.
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“What kind of reports does Quantech Q-F&I produce?”
Reporting is one of the most powerful features of Quantech Q-F&I. You can drill into your business and get critical information, such as:
- Which salespeople and products are generating the most business
- Deal statistics
- Commission reports
- F&I profit reports
- Insurance and Warranty Remittance reports: No more manual entry!
- Key business indicators
- Many others including deal count data, product penetration, product profit, back-end gross, and front-end gross.
You can also export data from Quantech Q-F&I to programs such as Excel or other file formats for data analysis.
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“Does Quantech Do
Menu Selling?”
We offer Q-Menus, the leading Menu Selling Module as an optional upgrade to the Quantech Q-F&I package and also as a standalone Menu Selling package for people who don't use our F&I package. Quantech’s Menu Selling Module is a unique presentation tool that boosts profits by presenting aftermarket products and warranty/insurance options to the customer in a professional ready-to-use presentation. Our system ensures that you offer every product to every customer, every time.
The chart below tells the story best. When business managers use menus, they close on average 38% more extended service contract business, 60% more Finance, Life, and A&H business, and nearly 20% more GAP. That’s a pretty compelling argument to make menus part of your normal business practice!
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“Does Quantech EVER charge extra for customer support?”
To say we are fanatical about customer support is not an exaggeration – many of our customers brag that we provide the best support they have EVER received from ANY computer software company. Our goal is to help you succeed, so we strive to provide you with the highest level of support possible. Because Quantech was founded by dealership F&I business managers, we know the situations you face and how critical it is to answer your concerns as quickly as possible.
And no, we NEVER charge extra. The all-inclusive price means that you get the training and updates and forms and fixes you need, at no extra cost, so you can worry about keeping your customers happy, not fixing computer problems!
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“What do you charge for the software?”
We charge a reasonable set up fee so we can make sure everything is set up perfectly for your dealership. That means your forms and rate tables are set up and loaded, your printers are working, and your staff is trained. There is also a monthly support fee.
The monthly support charge enables us to provide you with our All-Inclusive Support package, which covers
- as much user-training as you will ever need (even when you hire new staff!)
- unlimited changes to forms and contracts
- unlimited technical support (our technical team knows that if your F&I software isn’t working right, your business isn’t working right, so they really go the extra mile to keep you up-and-running!)
- unlimited updates to forms, which change frequently
- unlimited additional forms and contracts, in case you decide to work with a new insurance provider or take on new protection options or products
Next, the beauty of monthly support is there is no binding long-term commitment, so if you find your business taking you in another direction, you can just cancel the contract and you won’t owe us another dime!
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“You know you are not the
only company offering F&I systems. What makes Quantech better?”
People choose Quantech software because we focus exclusively on F&I, which means you get the best F&I package on the market. Our customers confirm this. They of course have compared us to other companies, have told us . . .
- Quantech Q-F&I software is much easier to use and more intuitive
- Quantech Q-F&I software is more flexible and looks better
- Quantech Q-F&I’s set-up charge is lower
- Quantech Q-F&I’s monthly support fee is lower
- Quantech’s service is better, including turnaround time on forms and updates
- Quantech’s Menu Selling Module is far more flexible and easier to customize for personalized presentations
Hey, there’s a reason why Quantech has been growing so fast. Thousands of people use our software and swear by it, because it works for them!
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