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.

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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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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

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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.

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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.”

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Gap Insurance Insurance Repairing Customer 59

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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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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AutoSuccessOnline

NOVEMBER 1, 2024

This initiative has significant implications for Guaranteed Asset Protection (GAP) insurance and other aftermarket products commonly sold alongside vehicle purchases. In the automotive sector, this scrutiny has extended to GAP insurance and various aftermarket products.

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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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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.

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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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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. By prioritizing customer satisfaction , you can cultivate loyal 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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Sales Gap Insurance Demographic Insurance 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.

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Repairing Finance Gap Insurance Modification 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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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.

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