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Car buying is changing as the new generation of young adults – millennials – steer away from making big purchases outright and choose instead to rent, lease or use finance options. Consumers now spread out paying for a vast array of possessions over months and years – from mobile phones to furniture, …

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Guaranteed Asset Protection (GAP) can be a valuable product for customers – providing peace of mind and protecting their investment should the worst happen. Everyone knows a vehicle starts depreciating as soon as it’s driven off the forecourt and most motor insurance policies will only cover owners for the …

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The Financial Conduct Authority (FCA) issued new rules governing the sale of GAP insurance in September 2015 which were meant to result in better customer outcomes from more informed purchasing decisions and improved competition between add-on and standalone distribution channels. The rules include: Providing …

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The convenience of internet shopping, as well as the ease of finding the best deal, is seeing consumers increasingly spend online – even when buying an extended vehicle warranty. Dealerships must protect their businesses with a proactive approach to sales and by embracing the digital revolution. Making extended …

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The Financial Conduct Authority (FCA) introduced new rules governing the way Guaranteed Asset Protection (GAP) insurance can be promoted and sold over a year ago. Since then, retailers have been getting to grips with new sales processes that incorporate the two main changes: Prescribed GAP information – the …

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Car retailers’ relationships with customers have been improved following changes to the way GAP insurance can be sold. The changes, which came into effect in September 2015, included the provision of prescribed information and a deferral period between the supply of that information and the close of the sale. …

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All consumers understand the value of a warranty- regardless of our driving habits, we all rely on warranties to protect our cars when faults arise. Giving customers the opportunity to extend that warranty to cover them for longer is something they are bound to be interested in. Providing your customers with the …

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An effective and fair incentive scheme for staff at your car retailer has many benefits. Incentives are, at their core, a system for rewarding staff for a sale – whether that’s a vehicle or an aftercare product, such as GAP insurance. It’s important, however, that incentives take into account …

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In last week’s blog, you read our top 5 tips for putting customers first. We touched on communications as an exceptionally important tool for ensuring customer satisfaction, follow-up sales of financial add-on products, boosting retention rates, as well as maintaining and improving your dealership’s …

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Paul Newton, Chief Executive Officer of Car Care Plan, writes: Sales processes are much more transparent than they were even a few years ago and there are  wide ranges of products and services available to smooth the ownership experience into the longer-term. What better way to ensure confidence than helping to …