Finance and Gap Insurance - Auto Dealership Digest

Understanding GAP Insurance: Your Safety Net in Vehicle Financing

Shawn Ryder

FEBRUARY 14, 2024

If you’re still paying off a vehicle loan, there’s a chance that the insurance payout might not cover the full amount you owe. This is where Guaranteed Asset Protection (GAP) insurance comes into play, providing crucial financial coverage to bridge this gap. What Is GAP Insurance?

Gap Insurance

Gap Insurance Insurance Finance Down Payment

Gap Insurance Refused To Pay BMW Owner $19,000 Over 60 Cent Clerical Error

Carscoops

JUNE 8, 2024

A man in Arizona says that his gap insurance denied his claim due to a 60-cent clerical error during the initial purchase. That’s where gap insurance comes in. Gap insurance acts as a financial safety net. That’s where the gap insurance was supposed to come in and cover the rest.

Gap Insurance

Gap Insurance Insurance Down Payment Finance

Is GAP Insurance Worth It? Understanding Coverage for Your Vehicle’s Value and Loan Amount

Shawn Ryder

JANUARY 21, 2024

What is GAP Insurance? If you’re thinking about buying a car, you may have come across the term “GAP Insurance” But what exactly is it? This is where GAP Insurance comes in. GAP stands for Guaranteed Asset Protection. Why Do You Need GAP Insurance?

Gap Insurance

Gap Insurance Insurance Finance Dealerships

MT spotlight on motor finance

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. This story continues at MT spotlight on motor finance Or just read more coverage at Motor Trader In 2021, the FCA banned.

Finance

Finance Gap Insurance Insurance Customer

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

Insurance firms agree with FCA to suspend sales of GAP products

Motor Trader

FEBRUARY 9, 2024

GAP insurance firms have agreed to pause sales of Guaranteed Asset Protection (GAP) insurance, following a request from the FCA. The finance regulator said the firms which have agreed to this action account for 80% of the GAP market. GAP has been under the spotlight for some time.

Insurance

Insurance Gap Insurance Sales Finance

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

AutoSuccessOnline

SEPTEMBER 6, 2024

Higher rates lead to increased monthly payments, making vehicle financing more challenging. Guaranteed Asset Protection (GAP) Insurance : GAP insurance is essential in an inflationary environment. Consumers are holding onto their cars longer, reducing the availability of used vehicles for sale. for used car loans.

Gap Insurance

Gap Insurance Repairing Insurance Finance

The Anatomy of a Car Deal – Fees, Financing, and Fine Print

Shawn Ryder

MARCH 12, 2024

Understanding the various fees, financing options, and scrutinizing the fine print can make a significant difference in the outcome of a car deal. Financing Fundamentals Loan Approval Process If you’re considering financing a car purchase, understanding the loan approval process is crucial.

Finance

Finance Deal Gap Insurance Extended Warranty

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.

Term

Term Gap Insurance Dealerships Extended Warranty

F&I offices will have to adapt to EVs

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.

Gap Insurance

Gap Insurance Finance Extended Warranty Insurance

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

Carscoops

MAY 26, 2024

Had the original poster signed up for the deal with $2,000 down and the dealer-offered financing they’d end up paying over $26,000 for a car that is currently listed online for $12,995. Registration fees, any finance charges, any dealer documentation fees, any emissions testing fees and government fees are not included in quoted price.

Addendum

Addendum Finance Gap Insurance Pre-Qualify

Mastering the many faces of F&I

Canadian Auto Dealer

MARCH 30, 2024

To confidently present finance and insurance products, business managers must be well-versed in the intricacies of extended warranties, GAP insurance and more. Product knowledge is power here. But it doesn’t stop there. F&I managers are negotiators extraordinaire.

Gap Insurance

Gap Insurance Extended Warranty Management Insurance

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). Getting the approach just right is what counts in the F&I office.

Sales

Sales Demographic Gap Insurance 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.

Dealerships

Dealerships Insurance Finance Gap Insurance

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.

Insurance

Insurance Finance Dealerships Gap Insurance

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

Turbo Marketing Solutions

JUNE 13, 2024

Financing and Insurance Guidance Purchasing a vehicle involves not only choosing the right car but also understanding the financial aspects and insurance considerations. When customers feel confident about their financing options, they are more likely to consider your dealership for their vehicle purchase.

Dealerships

Dealerships Marketing Sales Buyer

Bargain or burden? The truth about buying a Fisker Ocean

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. Patel is financing his car on a PCP so feels he’s in a better position than those who bought their cars outright. We continue to monitor the situation.” Now he is wondering if that might be the last.

Insurance

Insurance Gap Insurance Finance Repairing

Auto Dealership Digest

Understanding GAP Insurance: Your Safety Net in Vehicle Financing

Gap Insurance Refused To Pay BMW Owner $19,000 Over 60 Cent Clerical Error

Trending Sources

Is GAP Insurance Worth It? Understanding Coverage for Your Vehicle’s Value and Loan Amount

MT spotlight on motor finance

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

Insurance firms agree with FCA to suspend sales of GAP products

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

The Anatomy of a Car Deal – Fees, Financing, and Fine Print

Understanding Dealership Jargon: Terms the Public May Not Know

F&I offices will have to adapt to EVs

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

Mastering the many faces of F&I

Overselling can hurt F&I sales

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

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

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

Bargain or burden? The truth about buying a Fisker Ocean

Stay Connected