What is a Virtual F&I Proforma?
It is a planning tool that compares the cost and performance of a dealership’s current in-store finance department against a Virtual F&I model. You enter your production, PVR, product penetration, and department cost, and it estimates gross, net contribution, and the monthly, annual, and five year difference. Every figure is an estimate, not a guarantee.
How does Virtual F&I compare to an in-store finance department?
A Virtual or remote F&I model delivers finance and product presentation through a centralized, trained team rather than a fully staffed in-store office. It is not simply replacing a finance manager. It is a structured finance process built around consistent menu presentation, product knowledge, and accountability. The proforma compares your current F&I gross and department cost against a Virtual F&I gross and cost so you can see the net effect on contribution.
What are the current NextGen Virtual F&I performance averages?
Current NextGen Virtual F&I averages are approximately $2,120 PVR, 55% vehicle service contract penetration, 57% GAP penetration, and 22% bundle penetration. These represent averages from a structured process using dedicated finance professionals, and are not guaranteed. Individual dealership results vary by volume, inventory mix, customer profile, lender approvals, product availability, market conditions, and execution.
What costs should dealers consider when evaluating Virtual F&I?
On the current side: finance manager salary and commission, payroll taxes, benefits and burden, recruiting and training, and management oversight. On the Virtual F&I side: the monthly or per deal program cost. The proforma lets you enter both so the comparison reflects real net contribution, not just top line gross.
What is dealer profit participation, and is the income guaranteed?
Profit participation is an optional structure that may allow a dealer to participate in the underwriting performance of the products they sell, designed to build value beyond transactional income. It is not guaranteed. Results depend on program structure, volume, product selection, claims performance, reserve development, and administrator guidelines, and should be reviewed with qualified professionals.
Does this proforma guarantee results?
No. This tool is for planning and educational purposes only. It does not guarantee results. Actual dealership performance will vary based on deal volume, product mix, lender approvals, chargebacks, process execution, customer behavior, market conditions, and other factors.
Can Elite FI Partners build a complete proforma for my dealership?
Yes. Request a Virtual F&I Proforma and a member of the Elite FI Partners team will model your store on its actual production, walk through the numbers, and review options with and without a profit participation strategy.
