As it is with most dealerships, your parts and service department is probably your company's lifeline. According to a previous report by the National Dealership Association, the service and parts department accounted for about 46% of the gross profits of the average dealership. Putting such figures ...

Reinsurance is an agreement between two insurers, where one transfers portions of its risks portfolios to reduce the chances of paying a large insurance claim. In this model, the reinsurer is the second business and is responsible for clearing the claims that arise from the first company. In the ...

Benefits to Becoming a Dealer Equity Plan Provider Dealerships that incorporate the F&I side of their business benefit financially. Dealer equity companies allow dealerships to develop a secondary revenue stream. Dealerships that turn F&I departments into reinsurance companies benefit from ...

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.

Reinsurance is an agreement between two insurance companies. In this definition, the reinsurer is the second business and is responsible for clearing the claims that arise from the first insurance company.

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 ...

On average, services and parts departments make up a significant chunk of the business revenue in car agencies. However, your finance and insurance section should be a close second. If that isn't the case, then it's about time you had a rethink of your whole strategy and make more provisions for ...

A Dealer-Owned Reinsurance company gives your dealership the ability to handle and oversee extended vehicle service contracts and related products as an additional source of revenue. The most common reason dealerships avoid opening a reinsurance company is misconceptions about the risks and ...