Shawn Ryder

JANUARY 17, 2025

When purchasing a new vehicle, it’s not uncommon to come across the term “negative equity.” Long Loan Terms: Extended loan periods often lead to slower paydown against the principal, increasing the chances that you’ll owe more than the vehicle is worth. This may lead to more favorable terms.

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Shawn Ryder

FEBRUARY 7, 2024

When you’re dealing with car dealerships, whether buying a new car or getting service on your existing vehicle, you might encounter several terms that aren’t immediately clear. F&I (Finance and Insurance) A department within a dealership responsible for arranging financing and insurance for customers purchasing vehicles.

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Shawn Ryder

JANUARY 17, 2025

Understanding Prepayment Penalties Prepayment penalties are fees that lenders may charge borrowers for paying off a loan earlier than the agreed-upon term. Loan Agreement Terms: Not all loans come with prepayment penalties, so it is crucial to read and understand your loan agreement thoroughly.

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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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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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AutoSuccessOnline

NOVEMBER 1, 2024

The CFPB has been intensifying its efforts to combat what it terms “junk fees” across various financial products and services, including those in the automotive industry. In the automotive sector, this scrutiny has extended to GAP insurance and various aftermarket products.

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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. Sources [link] [link] [link] [link] The post The Affordability Challenge: How Dealers Can Help Customers Keep Long-Term Interests in Mind appeared first on AutoSuccessOnline.

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Shawn Ryder

JANUARY 17, 2025

The nature of this choice profoundly influences your financial situation, driving experience, and long-term ownership. Maintenance and Warranty Benefits Most leased vehicles are new and under warranty: Covered Repairs: Maintenance and repair costs are often covered, allowing for worry-free driving during the lease term.

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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. But it doesn’t stop there. F&I managers are negotiators extraordinaire.

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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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Shawn Ryder

MARCH 12, 2024

In this blog post, we will dissect the components of a car deal, shedding light on hidden fees, demystifying financing terms, and emphasizing the importance of reading the fine print to empower consumers to make informed decisions when buying a vehicle. Another aspect to consider is the cost of financing.

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Turbo Marketing Solutions

JUNE 13, 2024

Understanding lead generation is vital for car dealerships as it forms the foundation of their customer acquisition strategy and plays a pivotal role in driving sales and fostering long-term customer relationships.

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Canadian Auto Dealer

MARCH 1, 2024

Since residual values of EVs are not as predictable as those of conventional cars, we could see less favourable terms presenting new challenges around financing options. In terms of vehicle service contracts (VSCs), the narrative is also evolving.

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