The increasing focus on technology in F&I

Finance and insurance offices are increasingly interested in technology.

For dealers, protecting customer and vendor information from cyberattacks is a difficult but essential reality. Retail cybersecurity can be costly, especially for small and medium-sized dealers, requiring dealers or staff to lead the process. The Federal Trade Commission recently gave dealers who met some of the protection requirements he has six months, but it’s still a struggle for some dealers.

Vehicle listing company TrueCar is the latest company to launch an online credit application for Southern California car buyers looking to buy or lease a vehicle. This feature eliminates the need for the customer to go to the dealership to fill out her F&I form and gives them access to real-time final price information. TrueCar competitor Cars.com will launch an instant loan program on his Marketplace and Dealer Inspire website in early 2022.

As vehicles become increasingly electronic, offering customers insurance that uniquely covers technology is becoming a budget-friendly alternative to comprehensive vehicle service contracts. This insurance covers vehicle technology that is often replaced rather than repaired. A replacement can cost drivers thousands of dollars. Ally, APCO, JM&A Group, and AUL are providers of proprietary vehicle technology-specific protection plans.

Our focus on security is designed to keep your F&I office running more safely and smoothly. These new products also provide customers with a solution to the rapidly expanding use of technology in vehicles and dealerships.