F & I PRODUCTS
Servitium carries a complete menu of products...
Vehicle Service Contracts (VSC's or VSA's)
Tire & Wheel Protection
Guaranteed Asset Protection (GAP)
Certified Limited Warranty Programs
Lifetime Limited Warranty Programs
Paint & Fabric Repair
Environmental Protection Programs
Month to Month options
Repurchase and Trade In Protection Plans
Re-Insurance/Retro with discounted fees
Trade In Protection
Servitium also provides many custom programs available to their dealers.
Please connect with a Representative to find out more.
CONSULTING SERVICES AND TRAINING
Breathing New Life into the auto Business
Servitium provides training and guidance to help provide a sales process that will enhance the customer experience and create a more friendly approach from the customer arrival to the final handshake. The customized training can help your dealership be compliant, maximize finance profits and increase ROI as well as CSI.
For all our dealer partners Servitium has associates who are experts in Finance, Income and dealer development. We know our clients’ businesses inside and out, and we understand the factors that drive customers’ behaviors. As a result, our income development professionals are equipped to identify areas of opportunity and then work closely with you to implement training programs, consumer protection products, and software solutions designed to maximize operational efficiency, enhance customer service and maximize every dollar of profit!
F&I Evaluation – Where we begin
The first step is an In-Store Evaluation. During this evaluation, we’ll go through performance history, look at current sales process and compensation plans, talk to personnel, and figure out exactly where current strengths and weaknesses are so we can offer a comprehensive and effective Finance & Income consulting experience.
F&I Development – Creating Growth
The second step is where we work on Finance & Income development. This step includes creating a sales method and a unique Finance & Income process for the dealership, determining the roles of sales staff within these processes, setting performance standards, and deciding on a plan for compensation.
F&I Sales Training – Coaching for Success
The final step is helping to execute the new plans put in place, stretch goals even further, spend time one-on-one coaching employees with our Finance & Insurance training expertise. This includes teaching them about “playing by the rules”, and reviewing their overall performance.
Ask your representative about attending one of our training seminars or contact us here
INCOME ENHANCEMENT & MANAGEMENT TOOLS
Turning a New Page
Servitium offers cutting edge technology through our leading industry partners to bring modernized, customized, value added solutions that strengthen and solidify to thrive and not just survive.
Servitium provides many seamless programs to help enhance the dealers profitability and management of information.
Maximizing your business...
Dealers with larger product portfolios have many options open to them. Dealers have successfully reinsured Vehicle Service Contracts and other products for decades. Many dealers want to expand reinsurance companies to accept aftermarket products such as Tire & Wheel, Gap, Anti-Theft, Appearance Protection, among others. Servitium can assist dealers in setting up DOWC’s (Dealer Owned Warranty Company), CFC’s (Controlled Foreign Corporation), NCFC’s (Non Controlled Foreign Corporation). No matter what the need may be, Servitium can help find the right strategy and make sure all aftermarket products can be reinsured creating unparalleled wealth building opportunities for a dealership.
Below is a description of some of the options available.
Fully Insured – All products offered by Servitium are fully insured. This simply means that the administrator is the obligor. This is the most common insurance option for most dealerships. There is very low risk and the administrator is the sole obligor. Many dealerships prefer the safety of being fully insured so no exposure to paying claims. Under this scenario dealers do not share in any unused back end reserves or investment income.
Self Insured – If a partner prefers to maintain the reserve proceeds. Servitium can make that happen. The dealership simply pays for all covered claims against the contract and retains any portion not used as profit. The dealership pays a small administration fee for the contract so a third party administrator can take all claims inquiries making it so the dealership does not have to hire additional personnel. The dealer is the obligor.
Retro Dealer Participation – Many of our strategic partners offer programs that offer rewards for larger volumes of products sold. There is no upfront cost to participate in these programs. When enough of a particular product is sold to qualify, dealer will receive a portion of the unused reserves. This is a great alternative to reinsurance for those not wanting to make a larger investment. What makes a retro plan attractive is the fact that even some fully insured products still qualify for this type of program.
Reinsured Programs – Off shore reinsurance is a great way for a dealer to invest in the future. These programs are structured as CFC’s (Controlled Foreign Corporation), or NCFC’s (Non Controlled Foreign Corporation). Volume and tax issues determine which direction is best for a particular dealer. Servitium can set up a reinsurance position on nearly any product. We can help in creating the new company for reinsurance and help the dealer determine which products to place in the reinsurance position. Reinsurance is a great way for dealerships to create a higher return by investing in the products sold by their finance and insurance departments.
Dealer Owned Warranty Company-DOWC’s as they are called are structured much like Reinsured programs but with some unique advantages such as being domiciled as a U.S. corporation, more direct control of funds and investment options. This is an option well worth looking at for many dealers.
Servitium can help you navigate to just the right program for you.
Contact one of our team members today!
Navigating the compliance world...
Servitium Group Solutions provides dealerships with a solution for all participants, EEO, OFAC, Safety, Privacy Act required training. When properly training and documenting your employees completed training classes, Servitium Group allows your dealership to create an effective defense position against any adverse action and promotes a more compliant and friendly working environment for your employees and your customers.
Contact us today to set up a FREE Compliance Review