Fixed ops profit has never been more important. That’s why FLADCO works with the best in the business in this often overlooked but vital part of what makes a dealership thrive.
As F&I income keeps getting more important, it’s vital to offer products and services that deliver exceptional results – both for your bottom line and for customer satisfaction.
Average loan terms for new vehicles now exceed 71 months, up from just over 69 months a year ago. As terms grow longer, the chances for repeat business can decline, particularly while customers are upside-down on their vehicle.
Whether that’s from savings or revenue generation, boosting your bottom line is what FLADCO has always done. And some of our least flashy deals are among the best ways to do it.
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.
We’ve told you before about how AutoPayPlus can help you. It’s also an outstanding way to generate more F&I revenue.
As lockdown restrictions get eased and manufacturers offer an array of incentives to generate showroom traffic, it’s a perfect time to look at ways to improve your F&I earnings while offering customers more flexibility.
GAP insurance has long been a great way to provide customers with a valuable service while creating an excellent revenue stream, and as money gets tighter and loans get longer, it’s more important than ever for customers to get GAP protection.
The trouble for dealerships is that most GAP plans have a painful flaw: Early cancellations and the subsequent chargebacks dealers must pay.
The U.S. Department of Defense has changed its interpretation of a key part of the Military Lending Act (MLA) to allow dealerships to offer Guaranteed Asset Protection (GAP) to service members and their families. Now all military customers who finance a vehicle purchase can choose GAP coverage.