GAP insurance bridges the gap between what standard insurance covers and what borrowers owe on their vehicles. With today’s rising auto debt and longer loan terms, GAP has become a crucial safety net for consumers in case of total loss or theft. For borrowers, it means avoiding negative equity risks and getting help with deductibles and replacement costs. Lenders benefit too, with reduced risk exposure and enhanced customer retention. In these economic times, GAP coverage is not just beneficial, it's essential. Do you pitch GAP insurance to every buyer? Let us know in the comments. #automotivedealerships #insuranceindustry #autodealers #vehicleprotection #vehiclesales
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Not at all! Credit insurance carriers, not you, pay the broker's commission. Think of it like this: Imagine buying a car. The salesperson gets paid by the dealership, not by you, and the price of the car stays the same. Brokers operate similarly in the credit insurance world. That means that brokers provide valuable expertise, save you time and effort, and potentially even secure better coverage options, all at no additional cost to you! #accountsreceivable #tradecreditinsurance #businessinsurance #creditriskmanagement #financialsecurity #creditinsurance #nowyouknow
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Auto insurance costs are up as much as 40% in the U.S. Lenders need to make sure they are not using outdated plug values in credit policies when determining an applicant’s debt loads. #afsa #creditunionsrock #creditunions #banking #autofinance #autolending #subprime #personalloans #powersports #fintech #subprimelending #banking #trudecision https://lnkd.in/g4hZxQYy
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🚗 What is Gap Insurance and Why You Might Need It🚗 Gap Insurance covers the difference between what you owe on your car loan or lease and the car's actual cash value if it's totaled or stolen. When You Need It: - Financing a New Car: Especially with a low down payment. - Leasing a Vehicle: Often required for leases. - High Depreciation Vehicles: For cars that lose value quickly. - Long Loan Terms: Extended loans can leave you owing more than the car's worth. - Low Down Payment: Less than 20% down can mean a longer period of owing more than the car’s value. Protect yourself from unexpected financial burdens with Gap Insurance! 💼💪 #GapInsurance #AutoInsurance #FairtrustInsurance #FinancialProtection #CarLoans #VehicleSafety #InsuranceTips
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💡 Did you know your credit score can affect how much you pay for car insurance? Things like how you've handled payments, any outstanding debts, how long you've had credit, the types of credit you have, and recent credit applications all play a part. Insurance companies look at this information to estimate the chances of future claims and set your rates. 🚗💳 #CreditMatters #AutoInsuranceTips #PalacioMillerAgency
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Looking to understand auto loan rates? Reserve a moment for some light reading and discover how factors like vehicle type, age, and location can impact your loan rate. A deeper understanding can help make your auto-loan journey smoother. 🚗 HERE'S A HELPFUL GUIDE: https://lnkd.in/gCEAzMJc #AutoInsurance #AutoInsuranceRates #CarInsuranceRates #Auto #Car #Insurance
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🚗💰 Don't you find it strange that a car can be like a bank account? We all know they depreciate, and driving a paid-off car feels amazing when you don't have to make payments anymore. However, it's wild to think that if something unexpected happens, you might end up haggling with the insurance company to get your money back! Has that ever happened to you? 👇😄 #cars #finances #insurance
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Auto renew and auto pay within our program's portal features ⬇️ Auto renew entails coverage rollover at the end of the policy term, while auto pay requires annual setup to account for refinancing or bank changes. It's essential to check in regularly, ideally quarterly but at least annually, to ensure all policies are correctly configured in the portal. Give us a call! 📞 205.682.8856 . . . #birminghamalabama #biginsurancegrup #biginsurance #alabamainsurance #alabamapropertyinsurance #alabamarealestate #propertyinsurance #propertymanagement #insurance #insurancecoverage #nationwidecoverage #localinsurance #homeownersinsurance #commercialinsurance #riskmanagement #businesscoverage #propertyprotection #insuranceagency #realestateinsurance #protectyourassets #secureyourinvestment #coverageoptions
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If you lease a car for yourself or for employees, we recommend you look into Gap Insurance. It can pay off your remaining loan balance rather than just the current value of your vehicle considering age, condition and mileage. https://lnkd.in/enEUAkUa #commercialinsurance #autoinsurance
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Interest rates and loan terms have you questioning whether you can afford a new car? Learn about auto insurance coverage at https://loom.ly/N--XuwQ
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