5 Reasons to Switch F&I Providers…and Jump to truWarranty

What makes a good…no, a GREAT F&I provider for today’s post-COVID dealership? How is that judged today when so much within the market is changing at such a rapid pace? Does it all come down to dollars-and-cents or is there something more that distinguishes one from another?

We think it’s deeper than that. 

How your next provider is judged should focus on the ways they are different from the decades-old status quo, the companies that have been around for decades. And it’s not as easy as saying ‘you make more PVR with us’. Many will claim that.

Looking for a Change? Let Us Count the Ways…

If your dealership is looking to change F&I providers or see where there are some opportunities for faster growth, we’re ready to tell you 5 things that make truWarranty different from the competition and why they matter.

  1. Not for Sale - truWarranty is not for sale. We’re not tied to any private equity firms that have been doing their best ‘Pac-Man’ impersonation gobbling up F&I providers left and right over the last few years. Several venerable companies have been absorbed, leaving agents to navigate higher fees to pass on to their stable of long-time dealerships.

Why it Matters - When the PE’s come to town, everything changes and usually not for the better. Agents are squeezed and the back-end costs go up for dealerships trying to maximize profits. Your dealership becomes another number being told ‘it’s the way the industry is headed’, No, it doesn’t have to be that way and that’s not how we do business.

  1. Weeks to in-house TPA, Not Years - Our platform encourages private labeling all F&I products, strengthening your value proposition to your customers through branding that builds loyalty. We give you the look and feel of a TPA without the headache and years of waiting to deploy to your local buyers. It’s a powerful thing to have your name on every product your F&I staff sells. And we can help you build it out within a month.

Why It Matters - Think about this story…Asbury Automotive acquired Larry Miller Group late last year in a $3B deal in part so they can have their own F&I administration but then said it will take about 3 years to fully implement. Your dealership shouldn’t have to wait that long for the ‘game changing’ revenue boost that an in-house TPA can bring. No waiting with truWarranty.

  1. See Your Money Immediately - Dealerships that are participating in reinsurance should not have to wait for quarterly earnings reports to see how much they are making. truWarranty believes in full transparency so your store can see all of your remits, claims, cancellations, and deposits at a glance. And all in one easy to use dashboard. 

Why It Matters - When your dealership is planning for the financial future, it’s important to see what you’re working with for investments and revenue so you can properly forecast earnings. Making a dealer wait and jump through too many hoops shouldn’t make anyone feel very comfortable. It’s your money….you deserve to have eyes on it right away.

  1. Claims Done by the Experts - We knew right from the start that the strength of a claims adjudication process lies in the experts that handle the approvals. truWarranty has ASE Certified techs analyzing and approving claims with efficiency and expediency. Time is money for your service lane and your customers…having real experts on hand to move them through helps everyone win. 

Why It Matters - Some F&I providers may say they have mechanical experts working in claims but with truWarranty, you KNOW we do. These former techs have been in the bays and under the cars…they understand what’s a real breakdown and what’s not. That’s who should be handling your claims. 

  1. Built by Dealers, For ALL Dealers - That may sound like a bold claim but it’s true…we reached out to 20 groups nationwide to ask what was missing from the current slate of F&I providers. We listened and created truWarranty…a true F&I partner, not just another vendor. And with the addition of powersports/RV/motorcycle/heavy truck products offerings, we’re here for ALL dealers. All states, all lenders, all menus (though we have a pretty cool one of our own, also free)...this kind of flexibility makes truWarranty a bit of a unicorn in the market. And who doesn’t want to be one of those?

Why It Matters - As more F&I providers sell out to private equity, it’s becoming harder to find the companies that are still dialed into the needs of the dealer rather than the needs of shareholders. truWarranty knows it matters that your store has access to the best overall experience from an administrator and that only happens when we focus on your success. You win, we win. 

truWarranty is here to support and help every dealership reach their maximum profit potential, all while helping you strengthen your brand and reach in your market. Reach out today for a demo and let us show you the real difference versus who you work with now. Be prepared to be amazed…

date published
September 16, 2022

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