AutoSuccessOnline

SEPTEMBER 6, 2024

The key inflationary impacts to vehicle ownership include purchase prices, interest rates, maintenance, repairs, insurance and fuel costs. Insurance Costs : Auto insurance premiums have soared, with Bankrate noting an average cost of $200 per month. This represents about 16% of the median household income.

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Motor Trader

OCTOBER 14, 2024

The first range of insurance products to launch are Lease GAP, Cosmetic, Alloy, and Tyre. From November, every customer who leases a vehicle with Select will automatically receive 30 days free GAP Insurance. Alloy Insurance begins at £6.50 per month and covers the cost of repairs to damaged rims.

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Gap Insurance Insurance Repairing Customer 59

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.

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Finance Gap Insurance Insurance Customer 59

Motor Trader

JULY 24, 2024

His return will include filling the gap left by traditional GAP insurance by providing dealers with the knowledge to inform their comprehensive warranty plans. Duxbury began his career at Warrantywise as a dealer account manager and eventually a field sales manager.

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Carscoops

OCTOBER 15, 2024

If the vehicle is totaled or stolen, GAP insurance will cover the remaining balance, meaning you won’t owe anything—but you’ll never see that down payment again. The lease applies to the base Ariya Engage FWD, and while the advertised price is $99 per month for 36 months, that’s with a $3,329 is due at signing.

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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. This is also known as being “underwater” on your loan.

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Carscoops

JUNE 22, 2024

” More: Gap Insurance Refused To Pay BMW Owner $19,000 Over 60 Cent Clerical Error On top of making claims about an alleged defect, the lawsuit suggests BMW is actively trying to conceal the problem.

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Repairing Gap Insurance Electronics Insurance 132

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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Car Examer

NOVEMBER 2, 2024

Gap Insurance Gap insurance covers the “gap” between your car’s insurance payout and the remaining loan balance if your car is written off or stolen. Residual Value Residual value is the estimated worth of a car at the end of a lease or PCP term.

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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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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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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. GAP Insurance: Depreciation is an inevitable reality of vehicle ownership, and gasoline and hybrid-powered vehicles are no exception.

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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.”

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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. They’re the gears that keep the F&I machinery humming smoothly. Product knowledge is power here. But it doesn’t stop there.

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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). This shift highlights a trend towards more immediate, value-driven purchasing decisions.

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AutoSuccessOnline

OCTOBER 30, 2024

3 The increase in maintenance costs, coupled with rising insurance premiums and fuel prices, has put additional strain on consumers’ budgets. According to recent studies, the average annual cost of vehicle maintenance and repairs has risen to over $1,000 per year for vehicles older than five years.

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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.

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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.

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Carscoops

MAY 26, 2024

. “When submitting my application online, the out the door number was $32,207 with GAP. However, when I got the buyers order, the out the door number was $34,488.80, without GAP insurance. With a $2,500 down payment, I was only planning on financing $29,707.

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Shawn Ryder

MARCH 12, 2024

These additional products can include extended warranties, maintenance plans, GAP insurance, 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.

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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.

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Canadian Auto Dealer

MARCH 1, 2024

With EVs being more expensive to finance and replace, coupled with the cost of their batteries and the plethora of tech they house, GAP insurance becomes a no-brainer.

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