Auto dealerships see used vehicles as an opportunity for finance-and-insurance product sales and feel coverage designed specifically for such models would be valuable, Protective Asset Protection polling has found.
Forty-three percent of dealership decision-makers surveyed online called the shift from new-vehicle sales to used sales one of the biggest opportunities in selling F&I products in 2022 compared with 2021, according to the Protective Asset Protection F&I Trends Report.
Fifty-six percent of dealers felt coverages focused more on used vehicles than new ones would improve F&I product sales, and 49 percent said more F&I products designed specifically for the used-vehicle market would help grow sales.