A simplified, compliant approach for lenders to process contract cancellations and ensure accurate recoveries that benefit the consumer.
One interface consolidates numerous provider recovery processes to efficiently and accurately deliver .
Minimize your risk of state compliance fines while expediting refunds to meet recovery deadlines.
Provide consumers the timely and accurate refunds they deserve and protect your dealer relationships.
GET TO KNOW THE SOLUTION
Projected vehicles repossessed in 2021.
*Titleloanser.com, Car Repossession Statistics, 2021
Cancellation refunds may amount to.
*Using Dealertrack and F&I Express 2019 transaction data, cancellation refunds may theoretically amount to, or even exceed, a $4B/yr industry
Active aftermarket product providers.
*Internal F&I Express Data
states require that a refund be provided in the event of cancellation of a Vehicle Service Contract (VSC) OR GAP waiver contract.
*Based on state laws. States that require refund for Vehicle Service Contracts: AL, AK, AZ, AR, CA, FL, HI, ID, IL, IN, LA, ME, MD, MN, MS, MO, NV, NJ, NM, NY, OK, SC, TX, VT, WA, WI, WY. States that require refund for GAP : AL, AR, CO, FL, GA, IN, IA, LA, ME, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NC, ND, OR, RI, SC, TN, TX, UT, VT, VI, WA, WV, WI, WY.