What is dealer reinsurance?
Dealer reinsurance is when a separate business entity owned by you, the dealer principal, is formed to hold premiums from F&I products that are sold and/or given to your customers. These offerings include limited warranty, vehicle service contract (VSC), guaranteed asset protection (GAP), collateral protection insurance (CPI), vendor’s single interest (VSI), credit life and disability and more.
Why should a BHPH or retail dealership consider owning a reinsurance company?
Reinsurance puts your dealership in the driver’s seat to a better, more profitable business and allows you to have greater control of your customers’ ownership experience, as well as your own financial aspects. There’s no delay or hassle for car buyers to get the repairs they need while you capture the profits that otherwise would have gone to a third party insurance company.
What is the cost of reinsurance?
The financial cost of reinsurance will depend on the product(s) being reinsured. There is an annual fee to manage the reinsurance company along with costs associated with each product. With a variety of options and combinations to choose from, we at Buckeye Dealership Consulting would be happy to deliver a custom quote following an initial discovery meeting or call.
Who controls the investments from the reinsurance company?
The owner has control over the investment decisions. There are guidelines reinsurance companies must adhere to when it comes to funding, in order to ensure capital preservation. We can help you navigate through the options and select the program best suited for your business.
How beneficial is a reinsurance company to the dealership?
Reinsurance has been instrumental in helping BHPH and retail dealers turn everyday problems such as warranty work and uninsured losses into profitable opportunities. With dealer reinsurance, you have ownership of your F&I program, meaning premium reserves are retained in your own account. This accessibility allows your dealership to build wealth substantially through underwriting profitability and return on investment (ROI).
Is it necessary to commit to an annual or multi-year contract?
No, our agreements allow either party to cancel with 30 days notice. We want you to be happy with us as your reinsurance provider and believe that by offering excellent service and value, our clients will stay with us of their own accord.
Who is Buckeye Dealership Consulting?
Founded in 2008, Buckeye Dealership Consulting has proudly served hundreds of dealers and reinsurance companies in the automotive space, including Buy Here Pay Here (BHPH), retail, and independent finance companies all across the country.
We’re built on knowledge and experience in the F&I reinsurance market for franchise dealers, and have focused on independent dealers and tailored our program to fit the business model. Through these programs, we are helping dealers control their risk, improve cash flow, and increase the bottom line.
If you are a retail dealer, you know the back-end profit has become more important than ever. For BHPH dealers, in your business, cash is king. We have optimized our reinsurance structure to maintain access to your capital and maximize cash flow.
How many states does Buckeye Dealership Consulting operate in?
We proudly work with hundreds of dealers and reinsurance companies nationwide in the automotive space including Buy Here Pay Here (BHPH), Retail, and Independent Finance Companies.
What can Buckeye Dealership Consulting do to help my business?
At Buckeye, we offer F&I products and support services to ensure your customers are happy and your business is growing. We provide the formation of reinsurance companies, annual management, bookkeeping and tax preparation, as well as train your team how to effectively utilize our solutions. Each program is customized to your needs, which gives you the following benefits:
- Greater control of your money
- Quarterly financial reporting
- Competitive pricing and unbeatable service
- Proven reputation
- Trust and transparency
Who will advise me on the management of my reinsurance company?
Buckeye Dealership Consulting does more than just provide you with F&I products; we also offer training and support. Our in-house management team is always available to answer your questions or concerns and offer consulting services when you need it most.
Who are your Strategic Partners?
Visit the Strategic Partners page.