Protect Your Portfolio and Your Borrowers
Did you know GAP claims increased over 50% last year? Or that certain classes of vehicles are experiencing record depreciation?
What used to be a simple choice (GAP or no GAP) is now part of a complex and changing environment. For example, 100% LTV may not always equate to 100% LTV, due to depreciation, incentives, and other factors. Combined with increasing cost of repairs, this is causing a greater number of loans underwater.
Are your borrowers protected against high costs in the case of a total loss? Is your portfolio? As the percentage of loans underwater increases, higher rates of delinquencies and repo’s may follow.
Has your GAP provider advised you of these warning signs?
- GAP & GAP Plus – Flexible coverage to fit todays lending challenges
- TotalRestart – Loyalty benefit to protect down payment & equity in event of total loss
- Warranty/MBI – Choice of top-rated programs featuring CU Certified Auto
- “Agnostic” system for greater product flexibility and member customization
Shine a light on your lending by scheduling a no-obligation private web meeting. All attendees will receive the latest white paper from GreenProfit Research for Credit Unions: “Managing Your Auto Loan Portfolio Risk”. Learn 7 major takeaways that will keep members and your portfolio above water.
VisualGAP is a service of Frost Financial Services, the largest independent provider of GAP in the industry. To stay on top, their research team is always gathering new data to identify trends before they affect your portfolio.