Autocar

JUNE 28, 2024

Assuming a provider would consider it, taking out GAP insurance to cover any shortfall between what an insurer is prepared to pay for an Ocean in the event that it is written off – highly likely in the circumstances – and what it cost would seem sensible. We continue to monitor the situation.”

Insurance 133

Insurance Gap Insurance Repairing Finance 133

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.

Gap Insurance 64

Gap Insurance Insurance Finance Customer 64

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).

Insurance 116

Insurance Gap Insurance Spread Finance 116

AutoSuccessOnline

AUGUST 12, 2024

Traditionally, F&I products such as Guaranteed Asset Protection (GAP) insurance, ancillary products and vehicle service contracts have been tailored to the needs of gasoline-powered vehicles. Offering VSCs provides customers with extended coverage beyond the manufacturer’s warranty, safeguarding against costly repairs.

Gap Insurance 73

Gap Insurance Insurance Repairing Retail 73

Motor Trader

APRIL 2, 2024

The Financial Conduct Authority is looking at historical arrangements for motor finance commission while taking a separate look at the GAP insurance market. In 2021, the FCA banned. This story continues at MT spotlight on motor finance Or just read more coverage at Motor Trader

Finance 59

Finance Gap Insurance Insurance Customer 59

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.

Gap Insurance 52

Gap Insurance Insurance Lease Payment Lessee 52

Motor Trader

OCTOBER 14, 2024

The first range of insurance products to launch are Lease GAP, Cosmetic, Alloy, and Tyre. Crucially, there’s a real synergy between Select Car Leasing and MotorEasy, with both companies putting excellent customer service, trustworthiness and industry-leading innovation at the forefront of everything we do.”

Gap Insurance 59

Gap Insurance Insurance Repairing Manufacturing 59

Shawn Ryder

JANUARY 17, 2025

Understanding Insurance Options Don’t forget to consider insurance, as it can impact your vehicle financing: GAP Insurance: If you end up financing, GAP insurance can protect against negative equity by covering the difference between what you owe and the vehicles value in the event its totaled.

Prepayment Penalties 52

Prepayment Penalties Gap Insurance Down Payment Banking 52

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.

Addendum 120

Addendum Gap Insurance Finance Pre-Qualify 120

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.

Gap Insurance 40

Gap Insurance Term Extended Warranty Insurance 40

AutoSuccessOnline

OCTOBER 30, 2024

As car prices continue to rise and economic uncertainties persist, dealers must adapt their strategies to meet the evolving needs of their customers. 3 The increase in maintenance costs, coupled with rising insurance premiums and fuel prices, has put additional strain on consumers’ budgets.

Term 40

Term Customer Gap Insurance Repairing 40

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.

Gap Insurance 52

Gap Insurance Extended Warranty Insurance Finance 52

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.

Gap Insurance 52

Gap Insurance Sales Insurance Demographic 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.

Insurance 52

Insurance Gap Insurance Finance Extended Warranty 52

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. By prioritizing customer satisfaction , you can cultivate loyal customers.

Insurance 52

Insurance Gap Insurance Finance Extended Warranty 52

Shawn Ryder

JANUARY 17, 2025

Customization Restrictions Leased vehicles often come with restrictions on modifications: No Customization: If you like to personalize your vehicles, leasing may not be for you; most leasing agreements explicitly forbid modifications. Advantages of Buying a Vehicle Now lets analyze the benefits of purchasing a vehicle outright: 1.

Gap Insurance 52

Gap Insurance Repairing Modification Lessee 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.

Sales 52

Sales Dealerships Marketing Insurance 52

Canadian Auto Dealer

MARCH 1, 2024

They need to be skilled in informing customers about the nuances of owning an EV in a cold climate, which might include items related to home charging systems and available tax incentives.

Gap Insurance 52

Gap Insurance Extended Warranty Finance Insurance 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%

Finance 59

Finance Gap Insurance Banking Insurance 59