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Dealerships may also offer extendedwarranties if you want added peace of mind for a longer period, especially if you plan to keep the car long-term. GapInsuranceGapinsurance covers the “gap” between your car’s insurance payout and the remaining loan balance if your car is written off or stolen.
Everyone was talking about how insurance rates impacted auto sales in 2024. Whats also true is that insurance doesnt have to kill the deal. In fact, auto insurance can be a deal maker and even a deal sweetener. Rising insurance costs could actually help dealers save buyers money when they need it most during the deal.
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 extendedwarranties and GAPinsurance.
To confidently present finance and insurance products, business managers must be well-versed in the intricacies of extendedwarranties, GAPinsurance and more. They’re the gears that keep the F&I machinery humming smoothly. Product knowledge is power here. But it doesn’t stop there.
F&I offices are going to need options that cater to these unique challenges, such as extendedwarranties that cover battery performance. With EVs being more expensive to finance and replace, coupled with the cost of their batteries and the plethora of tech they house, GAPinsurance becomes a no-brainer.
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.
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.
These additional products can include extendedwarranties, maintenance plans, GAPinsurance, and more. Service Contracts and Add-Ons Coverage for service contracts and add-ons is another crucial aspect of the fine print that car buyers should pay close attention to.
Financing and Insurance Guidance Purchasing a vehicle involves not only choosing the right car but also understanding the financial aspects and insurance considerations.
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