Better protect your customers with automatic GAP protection
Auto GAP protection is more crucial than ever these days. The effects of the global pandemic about American families made them more frugal. While other car buyers find it unnecessary to get GAP protection for their car purchases, most of them simply don’t know its value.
In this scenario, an F&I manager comes into play. These managers can better explain the benefits of GAP to clients. They can shed a clear light on buyers as to why it makes sense to include it in their vehicle purchase.
The benefits of having F&I managers selling Auto GAP protection
F&I managers are a vital aspect of any successful dealership. They have the amazing ability to increase car sales as well keep customers happy with their purchases. F&I managers can also ensure that your dealership remains compliant with state and federal regulations. Having them handle the sale of GAP protection gives you peace of mind that your customers are well served.
The following are just some of the specific reasons why it’s a good idea for your F&I manager to sell GAP protection to your buyers:
Eliminate perceived pressure from customers
The forced sale of insurance to customers is no longer effective these days. Even if they have a solid determination to buy the car, they can leave and buy it from other dealers. To make sure you close a sale and get them to buy GAP insurance, you must first take their perceived pressure off.
And no one can do it better than an excellent F&I manager.
They have many tools and skills at their disposal as well as having exceptional communication skills. When customers are comfortable, they become less defensive and more receptive.
Better communication to customers
F&I managers can explain the technical aspects of a policy and contract in a way that is easily understood by clients. Most vendors can explain the benefits of getting GAP protection. However, not everyone can connect well with the customer.
When your F&I manager handles the sale of GAP protection, customers won’t feel compelled to buy it. On the contrary, they will feel good that someone has clearly explained it to them – a better experience than other dealerships.
Ensures regulatory compliance
The regulations are complex and confusing. If your dealership incorrectly breaks them, such as when selling GAP protection, the penalties can be catastrophic. An F&I manager can ensure that the dealership follows all standard procedures throughout the sales process and beyond.
You won’t be stressed out of overthinking if all paperwork is complete for every GAP protection you sell. At the same time, your customers will be happy with their purchases as the experience is smooth and fast.
Help your customers get the protection they deserve
Most buyers know the value of getting insurance coverage to pay off the loan if the car is scammed or stolen. However, the additional financial responsibility for purchasing GAP protection may seem too burdensome for them. An excellent F&I manager can help explain the value of GAP so that customers can understand it and feel comfortable including it in their vehicle purchases.
Need more information on how GAP protection can help your customers? Contact us and we will introduce you to the best options.
This article was published by: Trent Welch by title: Better protect your customers with automatic GAP protection.
If you like the information in this article, please write your opinion in the comments column.
Column comments available for discussion, sharing ideas and knowledge. Respect other readers with good and polite language. Stay on topic. Do not attack or spread hatred against certain ethnic groups, religions, races, or groups. Think carefully before posting a comment.
Please write your comments according to the topic of this news page. Comments that contain SPAM! will not be displayed until it is approved by our team.(comment nicely and politely)
IMPORTANT!!! If you want to take content from our site, please include the source of our article My Loan
Tim Editor: Omar, Shaqueena, Bilqis