Tell yourself a customer who has cash to pay for a vehicle also has cash to pay for the products that will protect their budget and vehicle investment long term, and you will likely sell more products.
Independent agents can tailor the shopping process to customers’ financial needs using comparison software and rating tools – a huge advantage over online, do-it-yourself policy shopping.
F&I product trends that are expected to be in focus in 2023 include both new and pre-owned vehicle service contract programs, GAP, ancillary and certified programs.
“You can’t have rising inflation and rising interest rates and rising car prices indefinitely. One of these is going to snap,” says iSeeCars’ Karl Brauer.
Stellantis CEO Carlos Tavares says 90% of the automaker’s dealers in the U.S. have signed on with Stellantis Financial Services U.S. About 80% percent of Stellantis’ sales volume in the U.S. will utilize the in-house company.
In addition to providing real-time, no-touch loan processing capabilities, today’s AI-powered software enables lenders to comply with regulatory requirements and be audit-ready.