As a dealership owner, resources for realizing long-term revenue are a crucial part of your business. This is where the concept of dealer-owned reinsurance can play an important role. This financial mechanism can greatly assist with warranty obligations as well as give dealers an upper hand over ...
The term "reinsurance" is confusing, but its concept is not hard to understand. As explained on AutoSuccess, "reinsurance is a separate company, owned by you the dealer, to provide Warranties, Vehicle Service Contracts, GAP, Certified Pre-Owned programs, and Collateral Protection to your customers ...
Reinsurance sounds like a good technical term. However, this technical term can be among the best things you do for your dealership and customers. Reinsurance is an excellent strategy for insulating your dealership from volatility and protecting your bottom line.
As with most auto dealerships, your service and parts department is possibly your company's lifeblood. In a previous report, the National Dealership Association revealed that service and parts accounted for 46% of the gross profits at the average dealership. If your Financial and Insurance ...
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