Extended service contractsJAMIE LaREAU Sell a service contract on a lease? It's all in the pitch 12:01 am U.S. ET | Feb. 27, 2013  For dealers, a lease deal usually means a bum deal on the back end. The sale of a high-profit product such as an extended-service contract is typically off the table.... Read More »
JIM HENRY The dealer, F&I vendor disconnect 12:01 am U.S. ET | Feb. 13, 2013  There’s a disconnect in the F&I space that’s getting more obvious. Many dealers, including some of the big publicly traded dealership groups, say they’re limiting their F&I menus to three or four items: extended-service contracts, GAP policies, prepaid maintenance and perhaps another.... Read More »
FINANCE & INSURANCE Banks hunt ways to set F&I products apart 12:01 am U.S. ET | Feb. 11, 2013 For some big banks, financing is not enough. They want a piece of the F&I product business, specifically with sales of vehicle service contracts. But it's not easy to break into that product segment.... Read More »
How to sell service plans in the service lane 12:01 am U.S. ET | Feb. 10, 2013 With top managers' support, proper training and a maximum of two levels of coverage to sell, service writers can significantly boost their dealerships' sales of service contracts, F&I trainer Rick McCormick says.... Read More »
Old car, new repair prospect 4:02 pm U.S. ET | Feb. 9, 2013  Expect consumers to keep their cars longer, requiring more repair work, and expect more dealership groups to follow AutoNation's lead and brand themselves.... Read More »
FIXED OPERATIONS Chrysler dealers set contract sales mark 12:01 am U.S. ET | Feb. 4, 2013  Chrysler Group dealers in the United States sold a record 1.4 million service contracts in 2012, a 16 percent increase over the previous year, the head of the Mopar brand said.... Read More »
GM offers maintenance plan to fleet buyers 3:40 pm U.S. ET | Jan. 21, 2013  GM is offering a two-year, 30,000-mile maintenance plan through its Business Choice program for business fleet buyers.... Read More »
JIM HENRY Time to take a risk 12:01 am U.S. ET | Jan. 2, 2013  Suggesting a New Year’s resolution for someone else is risky business, but to me 2013 is the year dealerships should resolve to sell extended-service contracts in the service lane.... Read More »
Saab, GM reach deal on warranty service in U.S., Canada 1:22 pm U.S. ET | Dec. 21, 2012  General Motors and Saab Automobile Parts North America said they have reached an agreement on warranty service coverage for Saab owners in the United States and Canada. The agreement says SPNA will provide warranty administration and related services for 2009 vehicles and prior Saab vehicles still covered under GM's limited warranty, the companies said in a joint statement released today.... Read More »
FINANCE & INSURANCE How tech pitches boost service plans 12:01 am U.S. ET | Oct. 8, 2012  "You're driving a spaceship." That's what Megan Jacoby tells customers when she pitches an extended-service contract to them. And when Jacoby, the finance director at Bob Smith BMW in Calabasas, Calif., shows customers a cutaway drawing listing the computerized parts in their car and the costs to replace those components, an extended-service contract sale is likely.... Read More »
'Right to Repair' compromise reached in Mass. 4:20 pm U.S. ET | July 31, 2012 Opposing sides in Massachusetts' Right to Repair debate reached an agreement today on a bill that would give independent repair shops in the state the same access to repair codes and tooling as franchise dealers. Massachusetts lawmakers have until 11:59 p.m. ET tonight to pass the proposed bill. This is the last day of the legislative session.... Read More »
JAMIE LaREAU Selling accessories before F&I -- and profiting on both 12:01 am U.S. ET | June 27, 2012  Is it possible to sell customers vehicle accessories before they enter the finance and insurance office and still see strong F&I product sales?... Read More »
FINANCE & INSURANCE Want to sell service plans? A process helps 12:01 am U.S. ET | June 4, 2012  Paragon Honda, Paragon Acura and Aberdeen Chrysler Center have managed to do what many dealerships cannot: consistently sell extended-service contracts to customers whose factory warranties are expiring or have expired. Their success has hinged on finding and reaching out to customers who fit the expired-warranty profile.... Read More »
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