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Buy Here Pay Here Product Solutions

A better customer experience is straight ahead.

Buy Here Pay Here Products Include

Collateral Protection Insurance (CPI)

  • Do you require full coverage insurance?
  • Do your customers struggle to get and keep insurance on your car?
  • What if there was a more affordable insurance option to cover your vehicle and turn it into a profit?

There are two ways CPI is available to your customer.  Depending on what state you live in, you may offer it at time of sale or you may force place it to protect your interest in the vehicle against physical damage should the customer fail to obtain or maintain physical damage insurance as required in the credit agreement. The customer is responsible for the cost of the CPI premium. The product allows BHPH dealers and finance companies to protect their collateral and reduce risk in their portfolios.

The best news for you is this program can be reinsured in your own reinsurance company so that you capture all of the underwriting profits from this program. Instead of purchasing CPI or a similar product from a 3rd party vendor, depending on your book of business, you can send the premiums to your own insurance company and reap the rewards.

Limited Warranties

  • Do you sell your cars As-Is?
  • What do you do if your customer’s car breaks down in the first 3 months?
  • How would offering a 3 month warranty help your marketing efforts?
Limited Warranties with DealerRE are customizable, mechanical breakdown coverages that you give your customer. Limited Warranties help you stand out from your competition, by giving your customers peace of mind. When you reinsure these warranties with DealerRE you have more control over your customer’s ownership experience and you get to keep the profits that a warranty company would keep if you were doing the same products with a third party.

BHPH Vehicle Service Contracts (VSC)

  • Do your customers have the money to fix their cars when they break?
  • Do you need a better way to keep your customers happy and making payments?
  • Would you like to retain the revenue you are currently sending to a third party warranty company?

Vehicle service contracts, also known as extended warranties, are sold to customers above and beyond the price of the vehicle. For independent and BHPH dealers vehicle service contracts help you to control the customer’s ownership experience in a favorable manner which helps you to receive repeat and referral business. Vehicle service contracts are also one of the most lucrative products for you, the dealer, to sell your customer. The best way to maximize profit is to reinsure these contracts in your dealer owned reinsurance company. This is very similar to owning a warranty company solely for your store and your customers. Your reinsurance company allows you to capture profit you were originally sending to your warranty company. If they weren’t making a profit off of you or taking a loss, why would they continue to do business with you?

For BHPH dealers vehicle service contracts the premium is financed over the term so you are billed monthly as you receive payments from the customer. This ensures that you are not hurting your cash flow and lending pool. The contract is still reinsured so you capture all underwriting profit at the end of the term of the contract.

BHPH Guaranteed Asset Protection (GAP)

  • Do your customers have left over balances between the insurance settlement and the loan balance?
  • If you are writing off the balance now, you are giving GAP to your customers for free! Why not charge for it?
  • Why are you selling someone else’s GAP when you can sell your own?

Guaranteed Asset Protection, GAP, is a deficiency balance waiver that waives the difference between insurance settlement and loan balance if a customer’s vehicle is deemed a total loss due to unrecovered theft or collision. It’s one of the many products we offer as part of our reinsurance lineup! In BHPH, GAP is a no brainer!

Tim Byrd started DealerRE in 1994 in Southeast Virginia and we have been helping dealers to expand their F&I programs to be more efficient and profitable ever since. DealerRE is a family company that is built on the foundation of Jesus Christ and the word of God.

You can trust our roots.

Vendor Single Interest (VSI)

  • Do you often have damage to the vehicle when your customer did not have the necessary insurance coverage?
  • Do you have losses due to being unable to repossess the vehicle?
  • Do you have losses due to towing & storage or from skip tracing?

Vendor Single Interest, VSI, protects the lender in the event that a vehicle is damaged or destroyed and the borrower did not have the necessary coverage. It also covers a loss due to the lender not being able to repossess the vehicle. VSI also covers losses due to skip tracing, towing and storage.

Debt Cancellation Coverage

Debt Cancellation Coverage (DCC) is a reinsured waiver for buy here pay here dealers to sell their customers instead of having them carry full coverage insurance. In the case of a total loss DCC covers the total debt owed to the dealer which allows the dealer to get the customer into another car making payments again. The contract is reinsured allowing you to collect premium and reserve it in your dealer owned reinsurance company to pay claims. The total amount of premium you write minus claims is the underwriting profit you will capture instead of sending it to an insurance company. Stop paying employees to get your customers to pay someone else (the insurance company) and capture that premium for your self! Imagine your book of business paying you a premium every month. Profit builds fast!

DCC is usually significantly less expensive for the customer than full coverage insurance which allows helps find them money for their car payment and other coverages.

Customers must continue to carry liability insurance by state law!

Call us today for more information at (804) 824-9533!

Our mission is to serve and educate car dealers across the country to utilize reinsurance to be a better dealer, to better serve their customers, and improve their business and personal financial well-being.

We have been helping dealers with reinsurance for decades and have the experience to help our clients build the programs that are going to help them to be as profitable and successful as possible.

Would You Like More Information?

If you would like to know if reinsurance is right for you, just ask!