Family First Dealer Services Announces Lender Approval of TIP – Trade In Protection F&I Program Through BBVA Compass Bank
Family First Dealer Services Announces Lender Approval of TIP – Trade In Protection F&I Program Through BBVA Compass Bank
(PRWEB) December 16, 2011
Jacksonville, Florida: Today Family First Dealer Services LLC announced the addition of Trade-In Protection to the list of approved optional products for sale through the BBVA Compass Bank, Motor Vehicle Retail Installment Dealer Network.
Trade-In Protection is a dealership product which provides a benefit of up to $ 5,000* towards a customers’ potential negative equity, when they return to the original selling dealer to trade-in and purchase another vehicle if they owe more than what their vehicle is worth.
“TIP is a home run for our dealers,” said Matt Morse of BBVA Compass Bank. “As we are expanding our indirect lending footprint, we were looking for something to offer our dealers that show we are interested in both their profitability today, and their long-term success. TIP helps get that job done.”
TIP combines the retention benefit of a lease – but applied towards a finance contract – as the benefit is redeemable only at the original selling dealership during the trade-in process. The program is offered on new and used vehicles as an optional F&I program, a blanket program and a combination with benefit levels from $ 1,000 – $ 5,000.**
“Partnering with BBVA Compass is extremely exciting,” said Tony Wanderon, CEO of Family First Dealer Services. “The ability for the dealers who do business with BBVA Compass to add Trade-In Protection to their loans shows the commitment that they have to them and their customers. We look forward to working with the dealers in the Compass market and to a long term partnership.”
About BBVA Compass – BBVA Compass is a leading U.S. banking franchise with operations throughout the Sunbelt Region and ranks among the top 20 largest U.S. commercial banks based on deposit market share. They operate 716 branches in Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas. BBVA Compass ranks among the largest banks in Alabama (3rd), Texas (4th) and Arizona (5th). The BBVA Compass Auto Lending program includes the Dealership Indirect Lending Program, Floor-Planning, and Dealer Credit Services.
About Family First Dealer Services – Based in Jacksonville, Florida, FFDS provides F&I products, administration, consulting, training, and marketing support to insurance companies, financial institutions, independent agents, auto dealers, and auto manufacturers nationwide. Their core focus is on increasing partners’ profitability by providing unique F&I product offerings and services including Trade-In Protection (TIP), Guaranteed Asset Protection (GAP) and full line F&I products.
All inquires on the Trade-In Protection program can be directed to:
Brian Olson
VP of Sales, NA
bolson(at)tradeinprotection(dot)com
(913) 907-7570 direct
http://www.tradeinprotection.com
*$ 5,000 max benefit on new vehicles / $ 3,500 max benefit on used vehicles
**Program and coverage may vary by dealer/state/lender. Please refer to the TIP Agreement for additional terms, conditions, limitations and exclusions.
SOURCE Family First Dealer Services, LLC
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