Your Vehicle Service Contract (VSC) program helps reduce auto loan portfolio risk. It also protects borrowers while providing them with peace of mind. Are you marketing it to maximize those outcomes or unknowingly working against your own best efforts? First, let’s get on the same page. What we call a…
Misinformation Abounds We live in an age of information, yet there’s so much that’s blatantly false, or deliberately misleading. You know it just from sifting through content online. Vehicle Service Contracts are no exception. Though not here in the GreenProfit Learning Library! If you’ll recall, we even made a guide…
What’s a Vehicle Service Contract? 10-Second Review. A Vehicle Service Contract is an insurance-backed product designed to protect the car buyer from the financial risk of covered mechanical breakdowns. Ok, that’s a complex-sounding explanation. Here’s a super-simple version: A VSC may help pay for fixing a car if it breaks….
Is VSC Right For Your Credit Union? Vehicle Service Contract (VSC) programs. Extended warranties. Mechanical Breakdown insurance. Different names. Same class of protection. And commonly offered alongside auto loans, with the other mainstays of credit insurance and GAP coverage. So, is it worth it? For simplicity, we’re going to refer…
Making Your CU’s VSC Program Shine! Already have a Vehicle Service Contract product? Cool! Looking into launching one for the first time? Great, too! In our years of working with credit unions, each performs due diligence to ensure their programs currently (or will) meet stated objectives: Is our VSC program…
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