Around the Web

Do Rich People Buy Car Warranties?

The appeal of F&I products like warranties and gap insurance is in protection from the unforeseen. It's sort of like a bet that if something goes wrong, the car owner won't have to fork over direct cash to fix the situation. This can be appealing to those who do not like big expenses hitting them when they least expect it, but what about those who can afford any expense that a car might generate? The affluent customer has a hard time seeing the value in paying for something that will only benefit them if bad things happen.

In an article on FI Magazine, Ronald Rearhard breaks down the situation and comes up with a solution to selling products to affluent customers.

Jon, affluent customers don’t live paycheck to paycheck, so they can easily pay for that unexpected repair if and when it occurs. Hey, money may not buy happiness, but it definitely makes life easier. When you have plenty of money, you don’t have to worry about how you’re going to pay your bills this month, or pay for unexpected car repairs or a deficiency balance if your car is totaled.

Read more on FI Magazine.

Email me when people comment –

You need to be a member of Dealer Bar to add comments!

Join Dealer Bar

RB is now a member of Dealer Bar
matthew wheeler is now a member of Dealer Bar
Mar 23
Simon Leggett shared their blog post on Facebook
Mar 6
Simon Leggett shared their blog post on Facebook
Mar 6
JD Rucker posted a blog post
"The other sites just have too much spam."
That was the complaint that we received most often when discussing with dealers and other vendors about the variety of sites out there that serve the automotive industry. One would have to sift through sale…
Feb 11
John Newber updated their profile
Jan 22
Brad Miller is now a member of Dealer Bar
Nov 10, 2016
Pete Gallego is now a member of Dealer Bar
Oct 28, 2016
Dianne Saunders is now a member of Dealer Bar
Oct 17, 2016
John Newber is now a member of Dealer Bar
Aug 30, 2016
Simon Leggett updated their profile photo
Aug 19, 2016
Simon Leggett posted a blog post
A number of traffic accidents are associated with distracted driving. This includes the use of mobiles which results in severe injuries or even loss of life.The continuous pings on our phones happen to distract us. You feel the urge to attend that m…
Aug 19, 2016