One of the most common questions we receive has to do with the AFIP Certification and how it relates to the F&I Certification provided by FinaceManagerTraining.com (FMT).
In short, the AFIP program and the FMT program are both incredible certification programs for dealership professionals, but they differ in many key ways.
What Is AFIP Certification?
AFIP Certification is given by the Association of Finance and Insurance Professionals and acts as evidence that the student has undergone appropriate training to equip them with a skill set that will essentially allow them to be more efficient and ethical in a career within the finance and insurance industry.
The association has developed a variety of courses that focus on different experience levels and topics.
Individuals looking to become a professional in these fields will progress through the different levels of courses provided by AFIP in order to reach Master and Senior levels.
AFIP tends to focus on legal and ethical F&I knowledge, while Finance Manager Training focuses on helping new F&I students learn the entire F&I job from A to Z.
AFIP is not only an association that can be utilized by students, but also many dealerships, lenders, and other types of agencies turn to AFIP in order to gain the appropriate certifications for their employees – this not only adds credibility to the agency, but also ensures that their employees can be provided with the knowledge and skills that are needed to help drive the business toward better levels of success.
What Are The Benefits Of AFIP Certification?
AFIP Benefits For Professionals
When a professional undergoes the appropriate training to become certified by AFIP, they are given the latest skills that are needed to ensure that they can effectively sell F&I products to customers with confidence and with a thorough understanding of ethical, moral and legal laws.
These courses have been designed to help individuals who want to have a successful career in the finance and insurance industry gain an advantage – they will understand how they can be more professional and appear more appealing to the customer, and how they can close more deals in less time.
AFIP Benefits For Dealerships
Many dealerships find that with AFIP certified employees, their risk of running into legal problems during the sales process is greatly reduced. This can lead to less money spent on legal settlements, fines, and similar matters.
Customer complaints are also greatly reduced since the sales agents have the skills to close deals without cutting corners or misleading the customer.
How Much Does AFIP Certification Cost?
AFIP has developed a variety of courses that individuals can undertake when they wish to become a certified F&I professional.
The courses that are offered by AFIP are divided into different levels, each level providing the student with more advanced skills and knowledge to benefit them in the process of closing deals, submitting loan applications, and configuring appropriate lending options for customers.
While some professionals may only opt for a basic or entry-level course, others may wish to complete multiple courses in order to add more certifications to their resume and, of course, to build up even more knowledge and skills that will assist them in advancing their career.
The packages/courses offered at AFIP (as of Feb 2019) include:
- Basic Certification Course: $915.00
- Executive Lifetime Master Certification Course: $615.00
- Master Certification Course: $715.00
- Senior Certification Course: $815.00
To take all of these courses will cost you in excess of $3,000.
The company also offers a wide range of study material and reference guides that F&I professionals can use during their studies, as well as during their day-to-day operations while closing deals.
While some of these resources will come in handy while studying and preparing for examinations, others will provide the professional with even more useful knowledge that will help them during their career.
It should be noted that the majority of the courses that are offered by the AFIP only include one single examination. All other costs, however, are usually included.
How To Become AFIP Certified?
In order to become certified as an AFIP F&I professional, you must follow a step-by-step system which has been outlined by AFIP on their official website. It is important to follow these steps in order to ensure you do not miss out on anything and that you can obtain your certificate once you have passed the appropriate examinations.
Once you have paid for the course, all the required materials will be mailed to you.
Alternatively, Finance Manager Training is 100% online and does not require mailed study materials or in-person testing.
Once you have the study material, the next step is to ensure you have the appropriate licenses to act as an F&I professional in your state. States throughout the U.S. have their own rules in terms of licensing – in some states, they do not require licenses, but it is always a good idea to check with your local state departments before proceeding.
The next step would be to study – it is crucial to carefully go over all of the material that was sent to you when you ordered the course package that you chose to enroll in. Students are always advised to join in on a couple of sessions at a study group – there are many AFIP study groups around the country.
The final step would be to contact an appropriate center and schedule an examination. AFIP is contracted with a company known as Kryterion, who has hundreds of centers where examinations can be completed throughout the United States. Once you have written the examination, you will be awarded a certificate if your final score is higher than 80%.
Finance Manager Training F&I Certification
While AFIP focuses on legal and ethical question surrounding F&I – The F&I Certification provided by Finace Manager Training focuses on teaching salespeople and others who want to become a finance manager, how to do the F&I job from A to Z.
FMT covers everything from the beginning basics, all the way to advanced F&I Topics.
The cost of the FMT course is $99 per month, or a one-time fee of $997.
After signing up, Students receive immediate access to our Online F&I Training. This online F&I Training contains a dozen modules with Courses, Videos, Lessons and Tools. You will also have access to our private Facebook training group, where you can ask questions and get answers from top F&I Managers. Upon completion of the online training, you will be F&I Certified and we will mail your Certification Plaque directly to you.
Our F&I Certification confirms that you have completed all requirements, testing and training to be a knowledgeable and competent F&I Manager in today’s automotive world, and is certified by FinanceManagerTraining.com. It may be added as additional social proof to any resume in any State.