A New Partner in Virtual Vehicle Protection - AutoSuccessOnline

A New Partner in Virtual Vehicle Protection

servicecontract.com was designed to help consumers understand their options and empower them to select their own coverage.

An auto dealer could have the best F&I team in the country and still may not be able to close every F&I sales opportunity. Some customers are simply not ready to make decisions on how best to protect their vehicle at the point of sale.

The vehicle service contract market as a whole represents a $35 billion opportunity that is still growing, according to Colonnade Advisors’ Vehicle Service Contract Industry Market Commentary. And although the post-sale opportunity is currently the smallest of the four primary VSC sales channels, it still represents $2.4 billion in sales… typically walking out the door.

This seemingly small segment of the market is growing, and long overdue for the introduction of an innovative mechanism for penetration, as it is continuously replenished as factory warranties expire.

Unfortunately for most dealers, since the post-sale channel can only be successfully serviced by a direct-to-consumer model, that means the missed opportunities on-site translate to missed revenue for the dealer. Making matters worse, there are third-party organizations that spend millions to target dealership customers who haven’t purchased VSCs by buying vehicle registration data. Some manufacturers have even started going around the dealer and soliciting customers directly.

The industry is ripe for a solution, and consumers and dealers alike demand an easy-to-use digital F&I marketplace.

Introducing servicecontract.com — an innovative online retail site where customers can review vehicle protection options and control their coverage selections, which also serves dealers as their virtual post-sale VSC partner. The intuitive new website was designed to help consumers understand their options, empower them to select their own coverage and put them in control of the transaction. In addition, the site’s integration with an advanced rating engine delivers confidence that servicecontract.com VSCs are fairly priced. Most significantly, servicecontract.com provides two reward plans that allow consumers to reclaim unused premium payments.

One of the leadings concerns customers have when considering the purchase of a VSC is the fear that they will never have a claim and may never realize any financial benefit from the money they’ve paid for coverage. Servicecontract.com addresses that issue with its “Stacks” program. For a nominal additional monthly charge, the contract holder is eligible for the return of a portion of their unused premium paid. There are two plans (“Half Stacks” and “Big Stacks”) actually designed to help consumers get their money back! The program represents a revolutionary concept in F&I. 

Consumers want to select their own coverage, on their own time. Many are tired of feeling forced to buy long-term or mileage-limited service contracts in order to ensure their vehicle repairs are covered. The customized process introduced by servicecontract.com allows consumers to buy coverage specifically for their needs and driving habits.

Unique benefits of servicecontract.com VSCs include no term or mileage restrictions, month-to-month subscription coverage, and the ability to cancel at any time directly within the online consumer portal.

On the other side of the vehicle protection transaction, it’s no secret that many dealers are tired of struggling to recapture lost opportunities from customers leaving the dealership without purchasing F&I products.  

Created to empower dealers by meeting the needs of consumers, servicecontract.com serves as an experienced post-sale VSC partner. Dealers are provided seamless branding at every consumer touchpoint, including dealership-branded websites and telemarketing support powered by data-mining technology with direct DMS integration. Dealers can select between multiple participation models, including no out-of-pocket costs or profit-sharing options.

Servicecontract.com is changing the way consumers protect their vehicles by providing the ultimate in flexibility and the lowest prices, entirely online. Providing dealers with a virtual post-sale VSC partner, servicecontract.com’s unique monthly subscription model, paired with its reward plan which allows drivers to get money back if no repairs are made during the term of their service contract, ensures dealers will capture revenue not recognized in the F&I office at the time of sale. Consumers can control their vehicle protection decisions… and dealers can finally turn F&I fails into F&I sales.

You May Also Like

Auto Dealer Study Reveals Ways to Increase Appointment Success

The study showed when the trade was discussed, the likelihood of setting an appointment jumped from just over 24% to 42%.

Alan Ram’s Proactive Training Solutions announced in a press release the results of a partnership with Calldrip to conduct an independent study of 15 random auto dealerships in their database, scoring 1,215 sales calls. The study found a vital missing link as the customer’s vehicle trade was discussed only 14% of the time. However, the simple step of inquiring about an appraisal of a shopper’s current vehicle increased appointments set by 72%.

DOWC Is One of New Jersey’s Best Places to Work

DOWC received high marks for its workplace environment, company ethics and policies, and for providing an opportunity for growth.

DealerBuilt Pulls into Service Lane with Acquisition of iService Auto

iService’s solution is a key piece in an M&A strategy that unlocks the ability for DealerBuilt customers to run all their departments on one integrated platform.

Mopar, Petra Partner to Launch New Maintenance Products

Petra will provide a suite of Mopar products, including chemicals to help maintain the fuel system, diesel fuel system and A/C systems of the vehicles serviced.

Dealerware, Tekion Partnership Saves Time with Self-Service Check-In, Automated RO Tracking

The Tekion and Dealerware partnership utilizes Dealerware API to automate the flow of customer information between Tekion DMS and Dealerware’s courtesy loaner management platform.

Other Posts

CarNow Appoints Kayne Grau as New CEO

CarNow recently announced the appointment of Kayne Grau as chief executive officer and as a member of the Board of Directors, effective immediately. Grau will work closely with the CarNow leadership team to accelerate product innovation, strengthen the company’s network of industry partners and grow its customer base. Related Articles – Dealer Funnel Welcomes Dan

Dealer Funnel Welcomes Dan Moore to Board of Directors

Moore’s appointment comes at a time when Dealer Funnel continues to innovate in the automotive sales industry, integrating AI features and offering an extensive array of tools that allow dealerships to communicate more efficiently and effectively with their leads.

Manheim Tapped to Host Digital Private Store for Fusion Auto Finance 

Fusion Auto Finance is now able to consolidate its multiple disparate platforms into a single, seamless experience.

MotorDNA Unveils Insurance Marketplace

Integrating seamlessly into the auto dealerships’ F&I workflow and tech stack, the MotorDNA Insurance Marketplace ensures a streamlined and efficient experience for dealers and consumers.