Preloading Identity Theft Protection? Big Benefits, Low Cost.
Preloading ancillaries on new cars can be a bit of a gamble. Some products lend themselves well to this approach, like appearance packages and others need a more direct selling strategy to get customer buy-in. One product that many dealers may not have thought of preloading has little to do with the car itself…
Identity theft protection.
If you consider the daily threats to everyone’s identity online and at your local stores, it’s a wonder we all don’t have stolen identities. Most car shoppers don’t associate this threat with buying a car yet dealers have, in the last decade, made consumer information safety during and after the sale a top priority.
Pros to adding it on every car?
- Your dealership cares about the financial safety of your customers. Great for CSI.
- No barrier to protecting themselves and their family...it’s there no matter what.
- Reinforces the notion that every shopper, regardless of their financial means, deserves the same peace of mind.
- Extra revenue at a time when every dealer needs it.
Cons to preloading? Not many but some to consider…
- Some may think it’s not necessary if they have other coverage.
- Could turn off some customers who don’t want to pay for something they did not ask for.
And that’s about it. Adding Identity Theft Protection becomes a strong value add and with proper positioning by the sales team, it should stick. Have them educated as to how exactly this protection works, the dollar amount of insurance against loss, and have stories to remind buyers how easy it is for this to happen to them. If you charge for it, make it a nominal amount...nothing crazy.
Most of us don’t have this protection but in the back of our minds we know we should. Make it easy for your customers if they don’t already have something in place to protect their identity.
Click here to learn more about how TruIdentity, powered by TruWarranty, can help your dealership get set up to offer this as a preload today. No deductible, family coverage, internet monitoring, and up to $1 million in coverage are just some of the features you are able to pass along at a fraction of what other services provide your customers.
Presenting any aftermarket products and protection in F&I is already tough enough but when you are trying to help keep a preloaded ancillary package in the deal, it can be a real headache. Buyers don’t always see the value of a well-priced package designed to help save their vehicle from cosmetic issues.
Preloading ancillary bundles is an easy way to add extra profits to the bottom line of F&I without adding to the menu presentation process.