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.

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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?

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Gap Insurance Insurance Repairing Retail 73

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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Insurance Gap Insurance Spread Finance 116

Canadian Auto Dealer

JUNE 3, 2024

T he positive perception is further reinforced by the trust placed in F&I managers over salespersons, with 65 per cent of buyers preferring the guidance of F&I managers for recommendations on warranty and post-sale products. 2023, [ [link] ] The post Overselling can hurt F&I sales appeared first on Canadian Auto Dealer.

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Gap Insurance Sales Insurance Demographic 52

Carscoops

MAY 26, 2024

Today’s example of what appears to be that comes from Clay Cooley Hyundai of Mesquite who has a 2018 Sonata on sale. At the end of the sales page it has a disclaimer that says “Clay Cooley is not responsible for mispricing, typographical, data transmission, or any and all other errors that may appear on the site.

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Addendum Gap Insurance Finance Pre-Qualify 119

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.

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Prepayment Penalties Gap Insurance Down Payment Banking 52

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. It’s often used as a starting point for negotiations.

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Canadian Auto Dealer

MARCH 30, 2024

Given that finding people who possess this perfect balance of sales and personality is hard to do, the question that has to be asked is which of these skills is most important to have in a business manager? Sales skills are at the heart of an F&I manager’s toolkit. However, sales skills alone won’t cut it. Sounds easy right?

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Gap Insurance Extended Warranty Insurance Finance 52

Turbo Marketing Solutions

JUNE 13, 2024

Nurturing leads not only increases the chances of making a sale but also creates loyal customers who will keep coming back for other vehicles, servicing, or even refer friends and family. This approach resulted in a significant increase in website traffic and leads, ultimately leading to an uptick in sales.

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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.

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Gap Insurance Extended Warranty Finance Insurance 52

AutoSuccessOnline

MARCH 28, 2025

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.

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Insurance Deal Gap Insurance Extended Warranty 45

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.

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Insurance Gap Insurance Finance Extended Warranty 52

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.

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Insurance Gap Insurance Finance Extended Warranty 52

Shawn Ryder

JANUARY 17, 2025

Buying: Purchasing a car involves paying the full sales price (or financing it) to own the vehicle outright. For further insights on financial decisions related to car ownership, explore our articles on GAP insurance considerations and the importance of financial literacy in car buying.

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Gap Insurance Repairing Modification Lessee 52

AutoSuccessOnline

OCTOBER 30, 2024

One key area where dealers can make a significant impact is through the strategic offering of F&I products, not just at the point of sale, but throughout the customer’s ownership journey. Boost Profitability : F&I products typically have higher profit margins than vehicle sales alone.

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Shawn Ryder

MARCH 12, 2024

Documentation and Dealer Prep Fees Dealer documentation and prep fees are charges that cover the cost of preparing the necessary paperwork and processing the sale. While some dealers may fold these fees into the overall cost of the vehicle, others may present them as separate line items on the bill of sale.

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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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