Have a 2001 model that still looks sharp, runs nicely and remains a great option to attach F&I products? Now dealers that use GWC Warranty have that option among a host of other potential ways to generate finance-office revenue.

This week, GWC Warranty looked to modify its product lines so dealers have more options in connection with the vehicles they might already have in inventory, especially older models that budget-conscious buyers might be seeking.

With this expansion, GWC said it is even better positioned to help dealers drive results by offering the right F&I solutions to cover more of their inventory as well as the different needs of their customers. Dealers can now provide service contracts for older models on their lot with new coverage options for vehicles up to 20 years old.

GWC is also introducing coverage for more than 120 previously excluded high-line vehicles.  Recognizing a growing need in the industry, coverage is now available for vehicles used for commercial purposes, giving drivers entering the rideshare and delivery market the chance to protect their investment and their livelihood.

The company explained it launched significant updates to its core vehicle service contract offerings based on market feedback and industry trends in an attempt to improve GWC’s ability to serve the needs of dealers of every size.

“Dealers are facing an increased need to optimize every opportunity. By providing the right F&I products for inventory they have on their lot, GWC can help dealers drive the results they need from their used-car operation,” said Matt McKenna, senior vice president of GWC Warranty & APCO.

“With this product expansion, we’re giving dealers more options than ever before to optimize F&I sales to increase total revenue and overall profitability while raising the level of protection they can offer their consumers,” McKenna continued in a news release.

Other significant changes in this update are designed to help dealers provide a better experience for drivers and avoid post-sale dissatisfaction, including improved driver benefits like rental car or substitute transportation coverage, roadside assistance and trip interruption protection.

GWC is also introducing new deductible options to give drivers more flexibility over what they’ll have to pay out of pocket, including a disappearing deductible option for dealers with a service bay that encourages customers to return for maintenance and repairs. Dealers can also offer buyers contracts with an “any time, any reason” cancellation policy.

“We took dealer feedback very seriously when developing these changes,” McKenna said. “Dealers want flexibility in both terms and conditions in their vehicle service contract offerings.

We’re introducing hundreds of new term and mileage combinations, including even more competitive rates and term options for vehicles that still have a basic manufacturer’s warranty remaining,” he continued.

“And, as part of our goal to protect our contract holders from out-of-pocket repair costs, we’re now offering coverage on sales tax for diagnostics, labor and parts for eligible repairs,” McKenna went on to say.

To learn more about GWC, visit www.gwcwarranty.com.