Vendor Single Interest Insurance, or VSI is generally a blanket type of coverage for all assets within your loan portfolio. VSI helps to reduce unforeseen repossession losses reducing net charge-offs.
VSI protects the lender from situations such as damage to the vehicle when the borrower did not have necessary insurance coverage, including total loss, losses due to the lender being unable to repossess the vehicle, losses due to skip, tracing, towing, storage and more.
In other words, VSI is just another one of our Buy Here Pay Here, or BHPH products that allow you to protect yourselves and your customers. VSI insurance is also able to help deepen the trust between you and your customers since the insurance may be able to act as a safety net to a borrower without insurance.
Why Choose Buckeye Dealership Consulting
Founded in 2008, Buckeye Dealership Consulting was assembled 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.
If you have any questions, feel free to contact us at Buckeye Dealership Consulting.