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Finance Reserve Insurance is a
program enabling lenders to offer a discounted finance reserve (non-recourse
program) to automobile dealers, without having to manage the program
or bear any risk.
Features
- Automobile
dealers can eliminate their chargebacks for termination and repossession
after the first 90, 80, 70, or 60 days
- The
lender transfers this risk of early termination and repossession
to Premier Lease & Loan Services®
Benefits
- The
lender generates up-front fee income, or profit-sharing on the
back end
- The
automobile dealers pay for 100% of the insurance premium via the
discounted finance reserve
- The
lender provides an enhanced non-recourse program with a shorter
elimination period rather than the traditional "3 payment"
elimination period offered by most lenders
- The
lender can offer a non-recourse program without having to manage
it or take on additional risk
- Premiums
for the product are tax deductible
- PLLS
can produce monthly management reports by dealer on behalf of
the lender
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