Revolutionary protection products for your auto buyers and borrowers.
Offer the only products on the market that can grow your product penetration and provide an extraordinary benefit for a replacement vehicle upon total loss or unrecovered theft.
Shortfall Cover products are changing the game for dealers and lenders alike.
The auto industry has changed drastically in the past 10 years. Depreciation rates have skyrocketed, while vehicle prices and loan amounts have ballooned. More and more vehicles are being considered a total loss with repair expenses outweighing the vehicle value in almost 18% of new vehicle purchases within 5 years of purchase.
Traditional F&I products have addressed the outstanding loan balance, but what about the amount that the buyer/borrower has already paid out of pocket? Between their down payment, payments to date, and any trade in equity, when it comes time to replace a vehicle considered a total loss, the insurance settlement and GAP benefit rarely makes them whole.
We recognized the need for a better way to protect the consumer as well as provide a lasting loyalty benefit to bring them back to your dealership or financial institution for their replacement vehicle purchase or loan. And the numbers speak for themselves…