Customer, Gap Insurance and Sales - Auto Dealership Digest

Signing a new contract after cancelling gap insurance?

Shawn Ryder

JANUARY 25, 2025

In particular, what happens when you decide to cancel your GAP insurance and sign a new contract? Understanding GAP Insurance Guaranteed Asset Protection (GAP) insurance is designed to cover the difference between what you owe on a vehicle and its actual cash value in the event of a total loss.

Gap Insurance

Gap Insurance Insurance Finance Banking

Warrantywise appoints new Dealer Sales Director

Motor Trader

JULY 24, 2024

Warrantywise has appointed Wayne Duxbury as its new dealer sales director, effective immediately. Duxbury will oversee all aspects of dealer operations, including customer relations and key partnerships. Duxbury began his career at Warrantywise as a dealer account manager and eventually a field sales manager.

Gap Insurance

Gap Insurance Sales Insurance Management

Based on CFPB Documented Consumer Complaints, Are Junk Fees Really in the Spotlight?

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.

Gap Insurance

Gap Insurance Insurance Finance Term

Navigating Inflationary Pressures on Vehicle Ownership: A Guide for Auto Dealers

AutoSuccessOnline

SEPTEMBER 6, 2024

Let’s explore the factors driving inflation in the automotive market and discuss strategies for dealers to support their customers through these difficult economic conditions. Consumers are holding onto their cars longer, reducing the availability of used vehicles for sale. for used car loans.

Gap Insurance

Gap Insurance Insurance Repairing Finance

FCA renews call on GAP firms to provide fair value to consumers

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

Gap Insurance Insurance Finance Customer

Is Your F&I Product Lineup Balanced & Diversified?

AutoSuccessOnline

AUGUST 12, 2024

EV sales have slowed in the U.S. Meanwhile, hybrids currently sit at just 25 days in inventory, and hybrid sales grew five times faster than EV sales during the month of February 1. Additionally, a rise in used EV sales continues to make headlines. Why are these trends critical to your F&I product strategy?

Gap Insurance

Gap Insurance Insurance Repairing Dealerships

Dealers' margins squeezed by EV shift, greater consumer protection

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).

Gap Insurance

Gap Insurance Insurance Spread Finance

Hyundai Dealer Bait And Switch Sees Sonata Price Go From $13k To $21k

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. Today’s example of what appears to be that comes from Clay Cooley Hyundai of Mesquite who has a 2018 Sonata on sale. Upgrade is OPTIONAL,” they say. “Dishonest.

Addendum

Addendum Gap Insurance Finance Pre-Qualify

Overselling can hurt F&I sales

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). 2023, [ [link] ] The post Overselling can hurt F&I sales appeared first on Canadian Auto Dealer.

Gap Insurance

Gap Insurance Sales Insurance Demographic

Is there a Fifth Third prepayment penalty?

Shawn Ryder

JANUARY 17, 2025

Lenders can sometimes lead to lower sales prices if you express financial security. Standard Coverage: Maintain comprehensive coverage that sufficiently protects your investment; understanding insurance policies is essential. For more on insurance nuances, check out our insights on GAP insurance considerations.

Prepayment Penalties

Prepayment Penalties Gap Insurance Down Payment Insurance

The Affordability Challenge: How Dealers Can Help Customers Keep Long-Term Interests in Mind

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. For dealers, offering the right F&I products can: Protect Customers: Help them prepare for planned and unplanned expenses.

Term

Term Customer Gap Insurance Insurance

Mastering the many faces of F&I

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. Sales skills are at the heart of an F&I manager’s toolkit. Sounds easy right?

Gap Insurance

Gap Insurance Extended Warranty Insurance Finance

Understanding Dealership Jargon: Terms the Public May Not Know

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

Gap Insurance Term Extended Warranty Insurance

Content Marketing Strategies for Lead Generation in Car Dealerships: Boost Sales Online

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.

Dealerships

Dealerships Sales Marketing Insurance

10 Ways to Unleash the Potential of Your Dealership’s F&I Department

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

Insurance Gap Insurance Finance Extended Warranty

Unleashing the Potential of Your Dealership’s F&I Department

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.

Insurance

Insurance Gap Insurance Finance Extended Warranty

Does it make sense to lease?

Shawn Ryder

JANUARY 17, 2025

Buying: Purchasing a car involves paying the full sales price (or financing it) to own the vehicle outright. 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.

Gap Insurance

Gap Insurance Repairing Lessee Modification

F&I offices will have to adapt to EVs

Canadian Auto Dealer

MARCH 1, 2024

This initiative, targeting 100 per cent sales of new light-duty vehicles as zero-emission by 2035, is not just about environmental stewardship; it’s a pivot towards a new economic era in the automotive industry For F&I offices, this wave of electric vehicles will introduce both opportunities and challenges.

Gap Insurance

Gap Insurance Extended Warranty Finance Insurance

Dealer finance under fire amid crackdown on 'secret' revenue

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). Dealers will have to pay the sales people more to make up for the loss of commission,” added Young.

Finance

Finance Gap Insurance Banking Insurance

Auto Dealership Digest

Signing a new contract after cancelling gap insurance?

Warrantywise appoints new Dealer Sales Director

Trending Sources

Based on CFPB Documented Consumer Complaints, Are Junk Fees Really in the Spotlight?

Navigating Inflationary Pressures on Vehicle Ownership: A Guide for Auto Dealers

FCA renews call on GAP firms to provide fair value to consumers

Is Your F&I Product Lineup Balanced & Diversified?

Dealers' margins squeezed by EV shift, greater consumer protection

Hyundai Dealer Bait And Switch Sees Sonata Price Go From $13k To $21k

Overselling can hurt F&I sales

Is there a Fifth Third prepayment penalty?

The Affordability Challenge: How Dealers Can Help Customers Keep Long-Term Interests in Mind

Mastering the many faces of F&I

Understanding Dealership Jargon: Terms the Public May Not Know

Content Marketing Strategies for Lead Generation in Car Dealerships: Boost Sales Online

10 Ways to Unleash the Potential of Your Dealership’s F&I Department

Unleashing the Potential of Your Dealership’s F&I Department

Does it make sense to lease?

F&I offices will have to adapt to EVs

Dealer finance under fire amid crackdown on 'secret' revenue

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