Credit Union Auto Group Offers Lender Approval for Trade-In Protection Program
Jacksonville, FL (PRWEB) December 22, 2011
Family First Dealer Services LLC announced today that Credit Union Auto Group (a wholly owned subsidiary of First Jersey Credit Union) is now added to the list of growing lenders offering the Trade-In Protection product for sale through its’ motor vehicle / retail installment dealer network.
Trade-In Protection is a F&I 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. The TIP program provides assistance if they owe more than what their vehicle is worth, or is “upside down.”
“We are extremely excited to rim away with TIP,” said Jim Milhaven, President and CEO of CUAG. “We are aggressively growing our indirect business in the New Jersey* market and the TIP program helps our members and our dealers with a very real issue they are facing in negative equity.”
TIP combines the retention benefit of a lease – but applied towards a seeded contract – giving the consumer a way to minimize or eliminate their negative equity on trade-ins. Additionally, the benefit encourages repeat business for the dealer 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.***
“We are looking forward to a strong partnership with Credit Union Auto Group and First Jersey Credit Union,” said Tony Wanderon, President and CEO of Family First Dealer Services. “Having been so deeply involved in the development of GAP over the past 23 years, we feel strongly that our new Trade-In Protection product could far exceed GAP in its appeal to customers who finance with dealers nationwide.” We are excited to partner with Jim and his team to help them expand their ever growing presence in the indirect lending channel.”
About Credit Union Auto Group – CUAG is a wholly owned subsidiary of First Jersey Credit Union, and serves as the indirect auto loan channel for First Jersey Credit Union. FJCU was founded in 1929, and is one of the largest Credit Unions in New Jersey. Their mission is to meet the growing and changing financial needs of their membership by maintaining a sound financial position to protect their members’ investments and to deliver financial products and services in a friendly, convenient and personalized atmosphere. “Not for profit, not for charity, but for service.”
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
*CUAG / First Jersey Credit Union is accepting indirect loans in New Jersey only, per the FJCU lending terms and conditions. TIP is not available in New York.
**$ 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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