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GAP

Report: GAP Claim Payouts Are Accelerating

Protective Asset Protection analysts say GAP claim payouts rose by 19.5% for new vehicles and an astounding 95% for used vehicles between 2014 and 2018.

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How to Sell GAP in a Crisis

Mounting losses have compelled many underwriters to jump ship on guaranteed asset protection, but it remains a cornerstone product that continues to perform for customers, dealers, and F&I managers.

F&I Is Stronger Than Ever

Fears that F&I would fall victim to advancing technology and bad press appear unfounded as the segment continues to perform for dealers and car buyers.

GAP Suffers Another Setback

The editor reveals the truth behind an NPR report critical of the industry’s efforts to undo the Military Lending Act guidance that put the brakes on GAP sales.

Sales in the Blink of an Eye

Blinker’s P2P ecommerce technology isn’t designed to pose a threat to car dealers. In fact, the company could be working with manufacturers and dealerships in the near future.

Wells Fargo Faces $1 Billion Fine for Mortgage and Auto Insurance Issues

Wells Fargo’s first-quarter earnings call was staged amid a string of regulatory concerns, declining auto originations, and the sale of a Puerto Rican subsidiary. But the company’s chief executive said the bank’s auto finance business will grow again.

CNA National Distributed More Than $41M to Dealers in 2017

This was the third consecutive year the F&I product provider paid out more than $40 million to its dealers through its various participation programs.

Military Lending Act's December Update More Harmful Than First Thought

A Hudson Cook attorney told industry trade groups in a Jan. 18 memo that the Defense Department’s Dec. 14 interpretative rule, combined with something else it did in July 2015, makes it ‘highly unlikely that any dealer or finance source will be willing to originate or purchase’ a vehicle finance transaction if credit-protection products are included.

[Video] Selling to Short-Term Owners

The magazine’s F&I pro responds to a question about how to build value in F&I protections if the customer says he plans on paying off his loan long before the term expires.

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Resolution Needed

The editor shares some insider information regarding the industry’s efforts to get the Defense Department to reconsider last month’s interpretive rule regarding the sale of GAP and credit insurance to military consumers.

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