When a customer leaves the dealership without a finance and insurance product, it can feel like a missed opportunity. But there's new hope for a follow-up sale. In the future, vehicles will send data to dealerships and F&I product vendors directly, helping them to determine which products car owners need and when, industry insiders predict.
Vehicle data could empower dealerships to contact customers at the right time, when they near or reach the mileage limits on their manufacturer warranty or when their check-engine light turns on, for example.
"Right now, as a consumer, you see a warning light go on in your vehicle, and you may be unsure of what to do. With the telematics and additional technology in the vehicle, soon companies like ours can help the dealer and car owner be more proactive," said Scott Karchunas, president of Protective Asset Protection, the F&I business unit of Protective Life Corp.