AmTrust Specialty Risk and Axiom have conducted a survey to explore and better understand the modern consumer mindset when purchasing F&I protection products. Valuable data insights reveal how to improve overall satisfaction throughout the buying process by identifying major influencers of change as we move into the new era of digital retailing.
Results indicated that online digital retail allows the consumers to research and compare different eligible F&I protection products before purchasing. Consumers agreed it was easier comparison shopping among plans (69%).
More information and access to real reviews guide consumer confidence and make decisions about buying F&I protection products. (66%) said they researched customer reviews and (64%) liked the idea of better, clearer, or more information about protection plans, such as videos available to them.
Purchasing F&I products online allows the consumer to shop and compare without the pressure of a dealer/salesperson. (69%) of consumers found it simpler, easier, faster and pressure free having the ability to learn, compare, and buy online.
Consumers enjoy the freedom of researching and comparing F&I protection products. By creating a pressure-free shopping experience, customers are more open minded to buying protection plans. By providing an exceptional customer experience from start to finish a dealer can maintain a mutually beneficial relationship with the buyer throughout the automotive lifecycle.