SOUTHFIELD, Mich. — GMAC Insurance recently announced two new products for dealers and retail customers.

The two products, Guaranteed Automotive Protection Care Advantage, along with Repair Advantage, a vehicle protection plan, were designed to provide best-in-class quality, support, flexibility and confidence for both consumers and dealers, according to officials.

"We have found that the demand for high-quality finance and insurance solutions, such as guaranteed automotive protection and vehicle service contracts, continue to increase," explained Mike McHugh, senior vice president of sales for GMAC Insurance's Dealer Products and Services group.

"For more than six decades, we have designed products to give vehicle owners piece of mind. Our newest products do just that, offering consumers and dealers unique solutions with flexibility, choice and security," he continued.

For dealers specifically, the products can offer additional potential for revenue generation, the company noted.

Moreover, officials said these products are the first of several new GMAC Insurance solutions to become available to all dealerships, regardless of the vehicle brand they sell.

GAP Care Advantage

Executives described GAP Care Advantage as a safety net for consumers, protecting them from potential "gap" obligations between the covered amounts owed and the actual cash value of totaled or stolen vehicles.

"For example, say a consumer has $23,000 in payments remaining on his or her vehicle when the vehicle is totaled, but the customer's primary insurer determines actual cash value is $20,000," said Charlie Hastings, vice president of F&I products for GMAC Insurance's Dealer Product and Services group.

"Assuming the insurance deductible is $1,000, the consumer would be responsible for $4,000 in out-of-pocket expense. With GAP Care Advantage, that $4,000 can be waived," he pointed out.

GAP Care Advantage is available on both new and used vehicles. Officials highlighted that this product has a 30-day money back guarantee.

One of the best benefits to consumers is that the charge is included in the monthly vehicle payments, the company highlighted.

Repair Advantage

For protection extending beyond the coverage offered by a manufacturer's warranty, Repair Advantage can provide varying levels of coverage and cost to meet a wide range of customer demands, executives said.

"We spent more than half a year benchmarking vehicle service contracts in order to develop a product that truly meets the needs and wants of both the dealer and the consumer," explained Hastings.

"Repair Advantage combines the best of the third party offerings with the security and expertise that can only come from an OEM provider," he added.

Repair Advantage is available in four levels of service, with varying degrees of assembly coverage, as well as rental vehicle coverage, roadside service, towing and trip interruption protection, depending on the product.

According to officials, these levels include:

Repair Advantage: The most comprehensive coverage, including rental, roadside service, towing and trip interruption.

Repair Advantage Select: Covers 14 assemblies, rental, towing and trip interruption.

Repair Advantage Powertrain Plus: Covers 10 assemblies, rental, towing and trip interruption.

Repair Advantage Powertrain: Covers six assemblies and towing.

For regular vehicle maintenance needs, including oil and filter change, chassis lubrication, fluid top off, tire rotation and 15-point inspection, executives said Repair Advantage — Car Care is available to consumers at two service levels.

The selling dealer will perform the services at three months/3,000 miles or six months/6,000 miles, depending on the level chosen by the consumer, the company explained.

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