Seems like a strange question, right? It’s a thing you do. It’s a thing lots of financial institutions do. Millions of auto loans go through indirect channels each year. So what’s the issue? We’re not sure the concept fits your community-focused mission. At its simplest, you’re just another lender on…
In previous articles, we discussed the 5 Steps to Protecting Members Using Your VSC program and also with GAP & Depreciation Coverage. Then we looked at how Payment Protection specifically is a tool for Financial Empowerment. Here, we will cover the 5 steps you can take to help borrowers by…
As a community-based financial institution, your primary goal is to create better lives for your membership. Reducing stress and struggle with finances is the most effective way to do so. Thus, financial empowerment. This is part of a category of articles looking at ways your institution can empower members through…
The moment your borrower drives their new car off the lot, it’s worth less. Sometimes, a lot less. For this scenario, your financial institution knows to offer GAP coverage as protection. What about safeguarding against other risks? You’re thinking Debt Cancellation or Suspension Contracts, of which GAP is a cousin….
Your Borrowers Love Value. What makes something valuable? Judging by the definition, you must deliver “relative worth, merit, or importance”. Everything you offer has value, obviously. So how to convince your borrowers? Marketing team, batter up! It’s time to build “perceived value”. What’s perceived as being more valuable…is. What does…
