GAP coverage is a great tool for delivering value to customers while boosting F&I revenue, but all dealers have felt the pain of chargebacks due to early cancellations.
GAP coverage is a great tool for delivering value to customers while boosting F&I revenue, but all dealers have felt the pain of chargebacks due to early cancellations.
AutoNews
By: John Irwin on June 21, 2017
Read time = 2 ½ minutes
An interesting article in the 6/21/2017 AutoNews F&I section by John Irwin cites the reasons for cost/price increases in GAP.
Guaranteed Asset Protection claims—and losses—are on the rise, and ballooning negative equity appears to be partially to blame.
F&I Showroom – Feature
By: Gregory Arroyo, May 2017
Read time = 1 ½ minutes
The script was written: The record 3.6 million off-lease vehicles set to return to the market this year was supposed to set off the long-awaited collapse in used-vehicle pricing. Prices have softened, but not to the levels or pace most market insiders predicted heading into 2017.
The Detroit Bureau
By: Joseph Szczesny on June 29, 2017
Read time = 1 ½ minutes
No one is arguing the case that after several years of consistent increasing new car sales, we are experiencing a sales drop.
“Additionally, we are also seeing lease penetration rates come down from record highs and starting to see a slowdown in the growth of incentives as a result. Both are good signs for the long-term health of the automotive industry and show manufacturers’ commitment to profitability and preserving future used-car values.”