Motor Trader

AUGUST 22, 2024

The FCA has renewed its call for Gap providers to ensure they demonstrate “fair value and good customer” outcomes In February, the FCA agreed a pause in the sale of guaranteed asset protection (GAP) insurance with a number of firms, following concerns the products were not offering fair value.

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Autocar

NOVEMBER 18, 2024

The lower-margin business of new car sales has traditionally been supplemented by aftersales, finance and insurance Dealers are facing a profit-margin squeeze from the double whammy of the transition to EVs threatening their lucrative aftersales business and a legal clampdown curtailing profitable commissions for selling finance and insurance (F&I).

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Autocar

JUNE 28, 2024

A drop in the Ocean A PCP is the safest way to finance an Ocean, given that it guarantees a vehicle’s future value. A spokesperson for Admiral said: “We are reviewing whether we will continue insuring new customers with Fisker Ocean cars in light of the situation and are in communication with our repair networks.

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Insurance Gap Insurance Repairing Finance 133

Carscoops

MAY 26, 2024

The website explicitly says “No Dealer Add Ons Ever” Some car dealers will say anything, even stretching the truth, to get customers in the door. ” The dealer appears to be trying to sell that upgrade instead of offering it and letting the customer decide. The additional costs largely come from junk fees.

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Addendum Gap Insurance Finance Pre-Qualify 119

Shawn Ryder

JANUARY 18, 2025

When considering vehicle leasing, many customers ponder the necessity of gap coverage. Understanding the interplay between leasing and gap coverage is crucial to preventing potential financial setbacks in the unfortunate event of a total loss. This is where gap insurance comes into play.

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Gap Insurance Insurance Lease Payment Lessee 52

Shawn Ryder

JANUARY 17, 2025

If youve filled out a credit application thinking about financing but later decided to purchase the vehicle with cash, you may wonder whether youve made a mistake. Common Situations for Prepayment Penalties: They are more frequently seen in mortgages or personal loans but can occasionally affect automobile financing.

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Prepayment Penalties Gap Insurance Down Payment Banking 52

Shawn Ryder

FEBRUARY 7, 2024

F&I (Finance and Insurance) A department within a dealership responsible for arranging financing and insurance for customers purchasing vehicles. The F&I manager will also offer additional products such as extended warranties and GAP insurance.

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Canadian Auto Dealer

MARCH 1, 2024

EVs typically come with price tags that are thousands of dollars more than traditional vehicles, and this price increase could translate into more opportunity to pick up lender finance reserves. Similarly, the advanced technology and higher cost of EVs creates greater opportunity for products like GAP protection.

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Canadian Auto Dealer

MARCH 30, 2024

The best F&I managers have a unique set of skills: business focused yet super customer focused A day in the life of a business manager, much like the iconic Beatles song, is often like a pendulum swinging between different personalities. They need to convey the benefits of products in a way that resonates with customers.

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Canadian Auto Dealer

JUNE 3, 2024

Overwhelm your customers and they buy less A December 2023 white paper by CDK Global sheds light on some evolving dynamics in automotive, particularly in the world of Finance and Insurance (F&I departments). Getting the approach just right is what counts in the F&I office.

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Gap Insurance Sales Insurance Demographic 52

Shawn Ryder

JANUARY 17, 2025

Buying: Purchasing a car involves paying the full sales price (or financing it) to own the vehicle outright. Flexible Budgeting: This advantage can be particularly appealing for budget-conscious consumers looking for quality vehicles without stretching finances. Making the Decision: Lease or Buy?

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Gap Insurance Repairing Modification Lessee 52

Autosoft

APRIL 11, 2024

Reading Time: 5 minutes 10 Ways to Unleash the Potential of Your Dealership’s F&I Department April 11, 2024 Within automotive sales, the Finance and Insurance (F&I) department holds a crucial position, impacting both profitability and customer satisfaction. Let’s have a look at the top 10 strategies: 1.

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Autosoft

MARCH 25, 2024

Unleashing the Potential of Your Dealership’s F&I Department March 25, 2024 Bryce Veon 7 mins read Within automotive sales, the Finance and Insurance (F&I) department holds a crucial position, impacting both profitability and customer satisfaction. Let’s have a look at the top 10 strategies: 1.

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Insurance Gap Insurance Finance Extended Warranty 52

Turbo Marketing Solutions

JUNE 13, 2024

Content marketing, when wielded correctly, has a knack for luring in potential customers for car dealerships. It works its magic by stimulating interest and building engagement around the cars and services you offer, while also collecting useful information about the customer. Now, let's talk more about lead generation.

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Sales Dealerships Insurance Marketing 52

Autocar

NOVEMBER 11, 2024

Commissions paid unknowingly by customers have accounted for large chunks of profits for dealers, which have teams dedicated to growing revenue from finance and insurance deals, or ‘F&I’ (including GAP insurance). The figures, which included its US operations, show that finance and insurance generated 3.1%

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