The Nation’s Premier Vehicle Service Contract Administrator Now Provides Dealers With A Path to Increased Profits with New Suite of Finance & Insurance Products
AUL Corp. (AUL), the nation’s premier vehicle service contracts (VSC) administrator, is launching a new suite of F&I (finance and insurance) products on May 1, 2019, announced Jimmy Atkinson, AUL Corp.’s President and CEO. As F&I products increasingly comprise a large percentage of an auto dealer’s profits, more than 2x than on the actual vehicle sale in 2018 according to J.D. Power, AUL now gives dealers nationwide a one-stop shop for all of their F&I needs.
AUL Corp.’s New Products
- GAP Coverage
- Pre-Paid Maintenance
- Key/Fob Replacement w/Roadside Assistance
- Tire & Wheel
- Interior & Exterior Appearance
- Paintless Dent Repair
According to Atkinson, “Some of our largest agents and dealers have been asking us for years to expand our F&I offerings beyond VSC’s, but we have always remained true to our long-time commitment of providing the best Vehicle Service Contracts, with the best coverage, and the best customer service. After nearly 30 years of delivering the very best VSC options, this singular focus has served us extremely well. But with our steady growth and a recently launched underwriting system which allows us to be more nimble and efficient, we are perfectly positioned to bring additional offerings, and more profit potential to our customers. The timing is just right.”
With consumers holding onto their cars longer than ever before, now averaging 11 years according to IHS Markit, VSC’s and ancillary products are becoming increasingly important to deliver peace of mind to vehicle buyers. AUL’s suite of products gives dealers a single source provider that simplifies F&I so the dealer can move the negotiations outside of the finance departments ‘box’ and into the hands of the salesperson – where negotiations are often much less contentious.
One of the more significant offerings of the new suite is the firm’s GAP Coverage, which protects car owners whose vehicles have been totaled but they owe more on their loan than the insurance company pays to replace the vehicle. As its name states, GAP Coverage helps to fill that gap. Highlights of AUL’s GAP include coverage up to 84 months, coverage up to 150% of the MSRP/NADA value of the vehicle, an online claims portal for quicker claims and service, and it is backed by an A.M. Best A-rated carrier.