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Gap

How Big Is the Gap?

With dealers and lenders scrambling to offer payment relief to consumers in the wake of the coronavirus pandemic, they need to pay attention to the effect it may have on a potential GAP claim.

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Portfolio Launches New Claims Website

Portfolio’s new GAP and ancillary claims website was designed to streamline the submission and adjudication process.

Louisiana Dealers Do Business Face-to-Face

Louisiana Automobile Dealers Association President Will Green believes the dealers in his state succeed by putting their customers and communities first and maximizing production — and emphasizing compliance — in the F&I department.

NAC Adds New VSC, Ancillaries, Loyalty to Powersports Suite

National Auto Care announced the addition of an exclusionary VSC, GAP, tire and wheel, theft, and a loyalty program to its powersports F&I product offerings.

Axiom Debuts Suite of RV Products

Axiom announced the launch of Revolution RV, a new suite of protection products specifically designed for the recreational vehicle market.

AUL Unveils New Website, Plans Enhancements

AUL Corp.’s new website is part of a multiphase digital strategy executives say will modernize the automotive econtracting experience.

Report: GAP Claim Payouts Are Accelerating

Protective Asset Protection analysts say GAP claim payouts rose by 19.5% for new vehicles and an astounding 95% for used vehicles between 2014 and 2018.

Wells Fargo Faces $1 Billion Fine for Mortgage and Auto Insurance Issues

Wells Fargo’s first-quarter earnings call was staged amid a string of regulatory concerns, declining auto originations, and the sale of a Puerto Rican subsidiary. But the company’s chief executive said the bank’s auto finance business will grow again.

CNA National Distributed More Than $41M to Dealers in 2017

This was the third consecutive year the F&I product provider paid out more than $40 million to its dealers through its various participation programs.

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Military Lending Act's December Update More Harmful Than First Thought

A Hudson Cook attorney told industry trade groups in a Jan. 18 memo that the Defense Department’s Dec. 14 interpretative rule, combined with something else it did in July 2015, makes it ‘highly unlikely that any dealer or finance source will be willing to originate or purchase’ a vehicle finance transaction if credit-protection products are included.