Both F&I training at a dealership and self-study can help learn about F&I practices and regulations. But don’t kid yourself, they ARE NOT EQUAL – NO WAY WHATSOEVER.
A classroom training with an experienced general manager or sales manager inside dealership environment, or offsite with a team of colleagues or other trainees receiving expert tutoring – where you can role play in REAL scenarios is no way comparable to an online video learning or what they call self study courses.
FOR SOME OTHER COURSES, MAY BE – BUT NOT FOR F&I MANAGER TRAINING.
Yes you can learn (to a certain level) how to pass your exam for real estate broker online. But that is more academic study than LEARNING A TRADE like F&I.
These self study courses are utterly pathetic and useless for F&I manager training and only makes money for the companies that put together some “course material”, (often outdated without any real bite), and sell it to the masses for cheap.
Video educational courses offer no major benefit, be it learning material in depth or getting real practice with a dealership training professional or sitting in watching an F&I Manager sell to car buyers.
One company that I contacted was Finance Manager Training here in New York, offering their courses for about $1,600 and giving me a list of what they provide: course material, videos, lessons, modules, blah blah. Well all these words (course, video, modules … etc.) they all mean the same thing to me. Once again proving that these are just bunch of words, all mean the same thing, and there is little to offer if any.
F&I Training at a Dealership
Nothing can replace hands-on learning in a real life situation, like a dealership showroom. One can argue that studying a video at home can do as much of a good job, but this is absurd.
F&I training at a dealership can provide you with hands-on experience working with customers and using F&I tools and software, with the help of an trainer who is doing the work everyday.
Sitting at home and going through video or online courses, do very little if any for you to learn a highly demanding skill set and regulations compliance material in real life car buying scenario.
Also, working with an F&I Manager at a dealership offers mentorship and support by the dealership general manager or sales manager. Working with experienced F&I managers can provide you with much easier and quicker method to learn F&I practices and regulations as seen in real application during a car buying process with real (live) customer.
Another major benefit of training at a dealership or a dedicated off site classroom is that it requires you to adhere to a set schedule, which forces you to be disciplined and get involved with other professionals and devote your time and commitment.
And finally, training with the dealership allows F&I professionals to learn dealership’s specific practices and policies, which are applicable to the specific dealership, its goals, and/or region.
Home Self-Study Video/Online Courses
Home study or online courses offer very limited (if any) or no hands-on learning for a subject matter that demands personalized feedback and guidance.
Dealership on-site or off-site professional classroom training provides feedback and guidance by a human instructor. A personal instructor can observe your performance, assess your strengths and weaknesses, and provide specific feedback and guidance tailored to your individual needs.
Self-study cannot provide you with the same hands-on experience as training with an expert in person and with a group of colleagues to share the process and discuss ideas.
Self-study demands no commitment or discipline on your part to devote your time on a regular schedule. Self-study means that you are allowed to learn at your own pace and on your own schedule, which can be more convenient if you have other commitments, and this training can take backseat to other things that may come up.
Also, with self-study courses the curriculum for F&I training will not cover all aspects of F&I practices and regulations, and there is no chance of discussion of different minds exploring ideas and scenarios.
While there are many resources available for self-study, videos, online courses, and industry guides, which can confuse and confine understanding of F&I practices and regulations, with no context or clarity.
Overall, dealership or offsite classroom training with professionals is miles ahead and substantially more effective way of getting F&I Manager Training. Self-study is ineffective way to learn this specific trade, as it offers no real hands-on training, very limited exposure to other people who can provide you with support and mentorship, difficult to get answers to specific questions or challenges, no networking opportunities with others, and will most offer lead to gaps in understanding F&I practices and regulations.
