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Cash-In
insures your liability under your partial recourse agreement with
a lender needed to secure financing, thereby permitting lenders
to increase your customer's borrowing power by up to $3,000.
How does Cash-In
work? Let's say your customer wants a car, a service contract and
other add-ons totaling $14,000. Now suppose the bank will only authorize
a loan of $11,000. What are your choices? You can eliminate the
service contract or another add-on. You can put your customer in
a less expensive model. Maybe you let the customer walk.
With Cash-In,
there's another option: a $3,000 partial recourse agreement. The
bank funds $14,000 and you insure the recourse agreement with Great
American. The bank benefits: they have a new customer. Your customer
benefits: they bought the car they wanted. Best of all, your dealership
benefits. You just acquired a new customer without cutting your
margins!
This product
is underwritten out of our Home Office in Cincinnati. As a service,
FIS will assist our agents in: making contact with the Underwriter,
obtaining an Application, and presenting submission material for
review by the Underwriter.
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