A spring survey of U.S. consumers shows they’re concerned about the financial hit of buying a car today, but the findings also reveal ample opportunity to sell protection products.

Finance-and-insurance product provider Protective Asset Protection polled more than 3,000 drivers in April on their views about financial conditions and vehicle protection plans.

The results showed 69% were concerned about finances as they bought their vehicles. The silver lining in the stark finding came when consumers shared their likelihood of paying for protection products: 29% said today’s economic conditions make them more likely to do so.

Though that’s a significant share of respondents, another 56% said the same conditions make them less likely to buy F&I products.

“For dealers, this bifurcation represents a coaching opportunity rather than a conversion problem,” Protective said.

“The consumers already motivated by financial self-protection are the most ready for a transparent, value-forward conversation. And those who are hesitant often share the same underlying concern: they want to understand whether a product is genuinely worth it.”

Respondents cited the usual suspects when asked about the potential car issues they’d wish to hedge against: major mechanical breakdowns, such as the engine and transmission; electrical components, which have become a leading cause of auto recalls; and the kind of advanced technological features that are more common today.

Consequently, 49% of respondents named vehicle service contracts as the most valuable protection product, followed by 31% who cited gap coverage. Protective reported that 22% of respondents said they plan to buy a VSC, the leading target product.

Consumers said clear coverage explanations, examples of repair costs, information on flexible payment options, and the belief that they’re buying from a reputable provider as top motivations to buy products.

“Telling a customer that an engine replacement can cost $5,000 to $8,000 and showing them how a VSC eliminates that exposure is exactly the kind of conversation this survey shows buyers are ready to have,” the report points out.

Dealers should offer F&I product information online, Protective advised, because 54% of poll respondents said they prefer to do their own products research, and 69% want pressure-free learning.

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