Vehicle Return Protection for the Real World

There’s no denying the economic realities that many customers face today. Consumer debt is at an all-time high. Negative equity is rampant. Downsizing is a fact of life, and health issues and expenses are constant concerns. WALKAWAY® acknowledges these realities, providing participating auto dealers with a proactive way to:

  • Strengthen margins and profitability by offering upsell products
  • Differentiate your dealership to attract new customers and close more sales
  • Increase customer satisfaction and drive repeat business with a backup plan that boosts consumer confidence
  • Preserve customer’s credit for future purchases from your dealership

Strong Demand

According to recent market research, 63 percent of respondents admitted they are not confident about their job security — and 100 percent said the availability of vehicle return protection would have a significant impact on where they choose to finance their next vehicle. WALKAWAY provides the critical backup plan consumers are looking for.

At your dealership, protection comes standard.

When a covered life event like job loss or physical disability occurs, WALKAWAY gives your customers the option to return their vehicles and simply walk away — with no negative impact to their credit. WALKAWAY protects your valuable customer relationships and positions you as an ally when vehicle return is the only option.

Walkaway for Financial Institutions

Added Value = Added Volume

In a crowded lending market, customers are bound to shop around for the best deal for both new vehicle purchases and refinancing. And, when everyone offers competitive interest rates, you need a significant value-added differentiator to separate you from the competition. By offering a complimentary WALKAWAY waiver with every new and used auto loan, you’ll give customers a compelling reason to stop shopping around and start building a lasting and profitable relationship with your institution.

A Proven Program

Created and administered by EFG Companies, WALKAWAY® is the innovative program that inspired our award-winning Hyundai Assurance program*. With WALKAWAY protection, customers have the freedom to turn in their cars and walk away from up to $7,500 of negative equity with Complimentary or Standard coverage — or as much as $15,000 with Elite coverage — when qualifying life events like disability or involuntary job loss interrupt their ability to pay. This valuable safeguard helps financial institutions:

  • Drive new auto loans by equipping prospective customers with a backup plan that boosts consumer confidence
  • Differentiate loan products in a crowded market
  • Open up a new stream of revenue by offering upgrade options
  • Increase customer satisfaction and drive repeat business

Managing Risk, Retaining Customers

WALKAWAY can help you increase vehicle loan volumes by mitigating the risks associated with defaults, collections, and repossessions. And because WALKAWAY benefits have no impact on the customer’s credit score, you’re able to leave the door open for future loan opportunities with these customers as you continue to earn their trust and loyalty.

CREATING A MARKET DIFFERENTIATOR

In a crowded marketplace, customers need compelling reasons to work with your dealership. Without a strong differentiation strategy, businesses will always struggle to separate themselves from the competition. Driving Dealer Performance can help you create a market differentiator with the most innovative, cost-effective solutions.

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