FLADCO News

Boost Profits by Preventing Revenue Leaks

Posted by Mark Mackson on Jul 14, 2020 6:00:00 AM

As dealerships focus on making every penny county, it’s a great time to review all kinds of expenses – especially the ones that don’t appear on your balance sheet. Things like costly chargebacks caused by cancellation of F&I products like GAP coverage.

GAP insurance is a great way to provide peace of mind and add to the bottom line, but most GAP protection has pro rata chargeback clauses that can take a toll on profitability.

Wise F&I offers an array of GAP coverage options, including a plan called ExpressGAP, which is designed to maximize dealership profits and cash flow. Roughly 30% of customers cancel their GAP coverage in the first half of their terms, leading to costly chargebacks on most plans. And if you’re in re-insurance, it’s even more important to protect your profits.

ExpressGAP’s cancellation policy protects profits by using a more favorable refund system that delivers thousands of dollars more in profit for a typical dealership each month, and in one case it delivered half a million dollars more profit to a large-volume dealership.

Contact FLADCO to learn how ExpressGAP can add to your bottom line.

 

  Learn How

 

Topics: f&i, increasing profitability, wise f&i, express gap


Mark Mackson


Mark is the Founder and CEO of Fladco.
He has over 30 years of Financial and
Group Purchasing experience.

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