Issuu

rethink appearance protection Great chemistry does not equal a great paint & interior program. Itâ€™s time to uncouple. Take control of your Appearance Program with ExoGloss,and choose the chemistry that works best for you.

SideCars, Inc. is the parent organization of TruWarranty and ExoGloss, and has been administering reinsured private-labeled F&I products since 2008. Our ExoGloss brand takes a unique approach to appearance protection warranties and contracts, creating a turn-key â€œfactory-directâ€? solution for your dealers. Backed by A-rated Insurance

because appearance matters Appearance Protection

Combined Coverage

paint protection

interior protection

Anti-microbial Protection

key protection dent protection

Windshield Protection

chip & crack protection Replacement paid up to $500 *based on deductible

alloy wheel protection windshield protection roadside assistance Anti-microbial Protection

It's not if,

but when.

Appearance Protection

PRESERVES YOUR VEHICLEâ€™S INTERIOR AND EXTERIOR WITH UNLIMITED CLAIMS

ZERO DEDUCTIBLE

NATIONWIDE SERVICE

PROTECTED WITH EXOGLOSS

PROTECT PAINT from the effects of

• ETCHING FROM BUGS • BIRD DROPPINGS • HARD WATER • ACID RAIN • LOSS OF GLOSS • FADING AND OXIDATION

PROTECT fabric

by preventing stains from

• FOOD AND DRINKS • PETS • OTHER HAZARDS

ALLOWS FOR QUICK AND EASY CLEAN UP

PROTECT LEATHER from

• UV DAMAGE • STAINING • PREMATURE AGING • RIPS, TEARS AND BURNS

NOT PROTECTED

PRELOAD... or UPSELL? Example: Your dealership group sells 10,000 vehicles annually. Check out what preloading your “Why Buy Here?” can do for your bottom line. • 10,000 vehicles sold annually • Up-sell in F&I and get 20% penetration = 2000 vehicles annually • Dealer cost of $300, marked up to $1000 = $700 gross profit each • $700 x 2000 = $1.4 million gross profit annually • 10,000 vehicles sold annually • Preload and get 80% penetration = 8000 vehicles annually • Dealer cost of $200, marked up to $500 = $300 gross profit each gross profit annually • $300 x 8000 =

$2.4 million

chemistry vs

name your brand chemistry (dealer’s choice)

• We facilitate the purchase & delivery of the dealer’s preferred name brand chemistry or equivalent. • Also available: our competitive ‘generic’ brand, private-labeled to each dealership. • We can privately label chemistry for any dealer or group

Reinsurance Anywhere: Compatible With All

Existing Profit Participation • Cede into existing reinsurance company. • Cession statements provided quarterly • Formation assistance provided by SideCars

conversion We have streamlined the install process, so we are able to convert any dealershipâ€™s appearance program to EXOGloss IN UNDER 48 HOURS.

Deploy remotely: no in-person training needed Scalable to the largest dealer groups 100% Digital and 100% Compatible with JM&A QR Codes embedded in the marketing material support the appearance program with video Complimentary online landing page customized to each dealership, disclosing coverage details.

customer service after the sale

is critical. ExoGloss is fully integrated with the Your Dealer Experience claims ecosystem.

24 hour claim filing through a customizable APP

24 hour claim filing through our website Toll Free Phone Support through our Customer Support Center Repairs can be completed by the servicing dealer or our nationwide network of appearance technicians.

faq Is it possible to install and deploy remotely? Absolutely. Installation is just an electronic form change, and thereâ€™s little training needed to mirror your existing processes.

Is ExoGloss available in all 50 states as a hybrid dry-wet warranty? Yes, ExoGloss is nation-wide and also non-cancellable. Is ExoGloss compliant? Yes, everything we offer has been reviewed by the compliance department at our A- rated insurance underwriter. How does my F&I Department benefit? There are several ways. In particular, the addition of a 12-month ExoPreload makes the appearance conversation easier for F&I managers to up-sell to a full 7-year program.

SHOULD MY DEALERSHIP PRELOAD F&I PRODUCTS?

In an age of tightening front-end gross, dealers search for ways to reserve profits on the vehicles they sell. One such tactic is the practice of including the price of products or services on every vehicle sold before a customer walks on the lot. The products or services are thus called “preloads.” Is preloading legal or illegal? The answer, of course, is “yes” – it just depends on how you do it. Before we parse this topic, let’s remind ourselves of the

Guiding Principles of Compliant F&I:

• Be truthful • Be transparent • Be reasonable • Document every step of the process • Befriend a lawyer

Stock: VIN: Year: 2020 Make: Ford Model: $34,000.00

Manufacturer Retail Price: Dealer-added Options TruWarranty

TruPaint

$1 9.00

Lifetime Powertrain Warranty 12 months of external appearance protection

Preloads--when done right--can be good for both dealerships and consumers. Because preloads need to be disclosed somewhere, let’s begin with the addendum sticker. In the beginning (1958, anyway) was the Monroney label, that mandatory factory-installed sticker on every new car that sets forth MSRP, standard equipment and options, and average fuel economy. Some time later, the first dealer thought of adding an addendum sticker that looked just like the Monroney label. The idea, one assumes, was to create the illusion that the addendum sticker was factory-mandated, and the products listed thereon were somehow as mandatory as the engine displacement identified on the Monroney label. See Guiding Principles 1, 2, and 3, above.

.00

TruKey

.00

TruPPM

.00

12 months key fob replacement protection 12 months of complimentary oil changes and tire rotations

Tru

12 months of

Subtotal:

Total:

$1,

$3 ,

.00

Side Cars Inc 532 S Main St Joplin, MO, 64801 (888) 800-2251

To be clear: in order to be transparent, any preloads need to be disclosed right up front and in a manner that is not confusing or misleading. An addendum sticker is a fine way of doing that. Just be sure the sticker doesn’t look like a continuation of the Monroney label. Different colors, fonts, and the dealership logo are ways to accomplish this. Better still, use all three. Preloaded products should be individually listed and priced. Price them as if they were being sold individually in the F&I box, then include a discount for purchasing the bundle (if allowed in your jurisdiction). You need to build value. This is one way to do so.

THIS ADDENDUM HAS BEEN ADDED BY THE DEALER, NOT THE MANUFACTURER, TO REFLECT ANY ADDITIONAL CHARGES FOR ITEMS ADDED OR SERVICES PERFORMED. LISTED ITEMS OPTIONAL AND SUBJECT TO NEGOTIATION.

Here’s an example: Add a final disclosure that states the obvious: “Items listed are optional and subject to negotiation.” Do not hornswoggle customers by implying the preloads are mandatory. This is a car deal – everything’s negotiable! Don’t try to hide behind a sneaky tactic; build value instead. And never, ever try to lever the preload into sales pressure (“Sure, you can get the truck without the bedliner, but it will take 16 weeks for delivery”). www.truwarranty.co

Add a final disclosure that states the obvious: “Items listed are optional and subject to negotiation.” Do not hornswoggle customers by implying the preloads are mandatory. This is a car deal – everything’s negotiable! Don’t try to hide behind a sneaky tactic; build value instead. And never, ever try to lever the preload into sales pressure (“Sure, you can get the truck without the bedliner, but it will take 16 weeks for delivery”). Preloaded products may be either “hard adds” or “soft adds.” What’s the difference? Hard adds are items actually attached to the vehicle, such as a spray-on bedliner on a pickup truck or a Bose eight-speaker stereo system. Hard adds increase the value of the vehicle itself. Soft adds do not. The distinction is crucial. Because soft adds (service contracts, etch, key replacement, etc.) do not enhance the value of the vehicle itself, their cost should not be included in Line 1 of the retail installment sale contract. Why? Because Line 1 sets forth the cash price of the vehicle, plus accessories (meaning hard adds), taxes and mandatory fees. In other words, the value of the collateral. Overstating the value of collateral, once the RISC is purchased by a finance source, can be construed as bank fraud. Don’t do bank fraud. Soft adds belong in Line 4, “Other Charges Including Amounts Paid to Others on Your Behalf.” What about “squishy adds,” like paint and fabric protection? Something – a chemical treatment - has actually been added to the vehicle. Because the bulk of the value is the guarantee backing up the chemicals’ performance, I would treat them as soft adds. But in case of doubt, contact your bank rep and ask. Document the response (Guiding Principle 4). And once documented, run it past your lawyer – who wants to trust legal advice from a bank rep? See Guiding Principle 5. Why the care to properly disclose preloads? Because if you don’t, your preload program could be construed as payment packing. Don’t pack payments. The most succinct official definition of payment packing goes back to a 1999 resolution of the National Association of Attorneys General (“NAAG”): “Packing” is the deceptive practice of misrepresenting monthly payments to consumers during auto sales and lease negotiations in order to facilitate the sale of automobile related products and services.” Implicit in NAAG’s definition of packing payments is the necessity of an accurate monthly payment. And that payment must be based on the actual cost of the vehicle, plus taxes and mandatory fees. If the vehicle includes preloaded products, those products must be unambiguously understood and agreed to by the customer. If there is one fixed star in the F&I heavens, it is this: customers must be presented with a payment that is accurate and based upon a representative term and APR. What term? Your dealership’s actual current average term is best. The national average is also defensible (69 months as of this writing). Reasonable and common terms can work (say, 60 and 72

months). But using a 36- or 48-month term when no one in your market finances at those terms is not defensible, and creates a deceptively high monthly payment quote. What APR should you use for first pencil quotes? Either the 90-day rolling average for your store (which can become unwieldy and fall into disuse) or, more simply, your captive finance source’s Tier 2 rate. Of course, once a customer’s credit is pulled (with the customer’s express permission, duh), the actual APR for which the customer qualifies should be used. Assuming the APR and term are accurate and representative, what is the amount to which they are applied? In a transaction with no preloads, that’s easy: the vehicle alone (with taxes and fees). But in a transaction with preloaded items, the base payment would include the price of those items. The inclusion of those items and their price must be clear and unambiguous. It is a best practice to get the customer’s signature near that disclosure to confirm understanding and consent. In the absence of a clear disclosure and evidence of understanding and consent, you have – at least – the appearance of payment packing. How can you demonstrate that a transaction was on the up-and-up? One way is to list two payments on the first pencil: “base vehicle only” and “vehicle as offered” (which would include the preloaded products). Don’t fear the payment differential – embrace it and build value. But two payments at the same APR and term could itself seem confusing, and confusion is the very thing we’re trying to avoid. One large dealer group permits a customer signature on the addendum sticker, buyer’s order, or worksheet to demonstrate understanding and consent. The point is to unambiguously confirm that the customer knew exactly what the customer was getting. Once the process gets to the F&I menu presentation, be sure to (accurately) list the vehicle price with the preloads (if accepted by that point) as the starting point. On any accept/decline acknowledgement sheet the customer signs at the end of the menu presentation, be sure the accepted/declined options are identified as additional options. This will highlight the fact that the preloads were included in the transaction before the menu presentation began. Applying the Guiding Principles of Compliant F&I, here are the specific steps to take to reduce the risk of packing payments when preloading products: 1. Disclose that the preloaded products are dealer-added options and subject to negotiation. 2. DO NOT include soft adds in Line 1 of the RISC until you’ve checked with your bank rep and local attorney. 3. Clearly disclose the inclusion of the preloaded products in the first pencil – and get the customer’s signature to document understanding and consent early in the process. 4. Don’t gouge – be sure the preloaded products are priced appropriately, perhaps at a meaningful discount below what they would cost individually if purchased separately. 5. If the product is a hard add and it’s on the addendum sticker, be sure it’s actually on the vehicle! 6. Review the Guiding Principles of Compliant F&I. 7. Memorize Guiding Principle 5.

www.truwarranty.co

YOU CAN ADD FOR ONLY $22, The CompetitionAdvantage Booklet, A great coffee table reimbursement coverage of up to $6500 worth of added coverages.

Your customers will always keep you

first in mind for future purchases.

Preload exobundle and get

Ray Catena thanks you for the purchase of your vehicle. We provide you the Luxury Package. This program provides you with many value added benefits, such as: •

Emergency Roadside Assistance

•

Emergency Towing

•

Emergency Travel Expenses

•

Vehicle Exterior Program

•

Insurance Reimbursement

•

Lockout Reimbursement

•

Ambulance Service

These benefits are explained in detail inside this booklet. You are required to submit information and/or copies of receipts when requesting a reimbursement. This may differ depending on what benefits you are applying for. Please make sure you read and become familiar with the benefits that are offered to you. If you have any questions, feel free to contact: Customer Satisfaction Resources at (502) 327-3060

R AY C A T E N A . C O M

The Leader in Luxury Car Dealers The Ray Catena Auto Group considers it an honor to serve their customers. For nearly 60 years, Ray Catena has held steady to a core philosophy of putting the customer first. In turn, he has built a network of 20dealerships and service centers on this foundation. Ray Catena feels that anyone who enters one of his showrooms should experience a level of service and commitment like no other in the industry. Ray started from humble beginnings in 1961 opening a used car lot in Kearny, NJ and his philosophy of “If you think something is more important than the customer, think again” has never wavered. Mr. Catena believes in treating each customer with the utmost respect by the finest and most professional sales consultants and providing an experience that is both enjoyable and stress-free. As Ray likes to say, “You take care of your family, your work and your life – we’ll take care of your car.” The end result is that Ray Catena builds one-on-one relationships with customers for generations.

A Luxury Car Dealership That Puts You First

There’s a reason why Ray Catena luxury car dealerships are known as “The Legend in Luxury®”. With 24 sales and service locations offering 13 brands, Ray Catena delivers the finest new and Certified Pre-Owned luxury cars, SUVs, and commercial vehicles. Our dealerships are home to elite automotive brands including Audi, BMW, Mercedes-Benz, Lexus, INFINITI, Jaguar, Land Rover, Porsche, and MINI. People choose us for luxury cars, but they stay for exceptional customer service. From the moment you walk into our showroom—and for the life of your vehicle—we treat you right. Friendly, approachable staff members ensure you are comfortable finding, buying, leasing, or servicing your vehicle. With a vast inventory of premium vehicles as well as precision service and parts specialists on staff, you’ll always enjoy your automotive experience at Ray Catena.

R AY C A T E N A . C O M

At Ray Catena, Our Customers Are Family Ray Catena has the finest luxury car dealerships NJ and NY drivers can count on. A huge inventory of new and pre-owned vehicles, accommodating assistance, master technicians, and exceptional deals are the norm at each of our 24 sales and service locations. Automotive expertise is our specialty, which has made us The Legend in LuxuryÂŽ. With convenient locations and hours to serve you, outstanding automotive care is always nearby whether youâ€™re shopping for a vehicle or bringing yours in for regular maintenance.

Mon – Fri: 9:00AM – 8:00PM Saturday: 9:00AM – 6:00PM Sunday: CLOSED

920 US-1 Edison, NJ 08817 Sales: 732-352-9462

3561 US Route 9 Freehold, NJ 07728 Sales: 866-821-8390

480 Route 9 Marlboro, NJ 07726 Sales: 732-365-4870

1350 Route 22 East Bridgewater, NJ 08807 Sales: 908-271-8898

4264 U.S. 9 Freehold, NJ 07728 Sales: 732-858-5516

900 US Highway 1 Edison, NJ 08817 Sales: 732-352-9710

2135 NJ-35 Oakhurst, NJ 07755 Sales: 732-481-2157

920 Route 1 Edison, NJ 08817 Sales: 732-913-1635

95 Progress St Union, NJ 07083 Sales: 908-356-6790

480 Route 9 Marlboro, NJ 07726 Sales: 732-786-3502

123 Main St Edison, NJ 08817 Sales: 732-384-1755

4380 Route 9 Freehold, NJ 07728 Sales: 732-384-1270

2127 Route 35 Oakhurst, NJ 07755 Sales: 732-554-0745

Mon– Thur: 9:00AM – 8:00PM Friday: 9:00AM – 7:00PM Saturday: 9:00AM – 6:00PM Sunday: CLOSED

543 Tarrytown Road White Plains, NY 10607 Sales: 914-918-0850

920 U.S. Highway 1 Edison, New Jersey 08817 Sales: 732-913-1863 1435 Boston Post Road Larchmont, NY 10538 Sales: 914-800-3402 325 Route 37 East Toms River, New Jersey 08753 Sales: 732-384-1992 525 Tarrytown Road White Plains, NY 10607 Sales: 914-353-3215 910 Route 1 North Edison, NJ 08817 Sales: 732-352-9198

2585 Route 22 West Union, NJ 07083 Sales: 908-356-6784

543 Tarrytown Road White Plains, NY 10607 Sales: 866-821-7570

10 Luxury Brands 21 Sales and Service Locations

Our luxury car dealerships serve the Greater New York City region including Westchester, Staten Island, and all of New Jersey including the Jersey Shore.

Luxury Auto Repair in NJ and NY Only at Ray Catena

Take care of your luxury car, crossover or SUV at Ray Catena. We specialize in luxury auto repair, and pride ourselves on making it easy to care for your vehicle. We believe in providing the human touch when it comes to service and parts for your luxury car. From meticulously inspecting and maintaining your vehicle to simplifying the service process, itâ€™s quick and convenient to keep your investment in pristine condition. This high level of vehicle care is what has earned Ray Catena such a prestigious reputation for nearly 60 years. See why weâ€™re different. Visit our website to schedule service or contact the service departments directly for a prompt response.

R AY C A T E N A . C O M

Exterior Reimbursement Package……………….……$600.00

Tire Hazard……………………………………………………..$800.00 Emergency Roadside Assistance……………...….…$1,500.00 Emergency Travel Expense Reimbursement…..$2,000.00 Insurance Deductible Reimbursement……….……..$500.00 Ambulance Service Reimbursement…………………$600.00 Emergency Towing……………………………………….….$350.00 Lockout Reimbursement……………………………….…$150.00

$500.00 in insurance deductible reimbursements if you registered vehicle has an approved insurance claim. We will reimburse you up to $250.00 of your deductible per occurrence (not to exceed $500.00 for the term of the benefit). To be reimbursed fill in the information requested on a claim form and mail it to us. Include a copy of the police report, and your insurance companies final settlement documentation. Note: This benefit expires 36 months after the purchase date of your vehicle.

$600.00 in ambulance service reimbursement if you or a family member are involved in an automobile collision in your registered vehicle. We will reimburse you up to $100.00 per occurrence (not to exceed $600.00 for the term of this benefit). To be reimbursed fill in the information requested on a claim form and mail it to us. Include a copy of your paid invoice from the ambulance company. Note: this benefit expires 36 months after the purchase of your vehicle.

R AY C A T E N A . C O M

$600.00 in exterior reimbursements if your registered vehicle requires replacement of headlights, taillights, fog lights, antennas, windshields, side mirrors, or hub caps. We will reimburse you up to $50.00 per occurrence (not to exceed $600.00 for the term of this benefit). To be reimbursed fill in the information requested on a claim form and mail it to us. Be sure to include a paid receipt. Note: this benefit expires 36 months after the purchase of your vehicle.

$350.00 in emergency towing reimbursements if your registered vehicle breaks down and needs towing. We will reimburse you up to $50.00 per occurrence (not to exceed $350.00 for the term of this benefit). To be reimbursed fill in the information requested on a claim form and mail it to us. Be sure to include a paid invoice from the towing company used. Note: this benefit expires 36 months after the purchase of your vehicle.

$1,500 in emergency roadside assistance if you need a flat tire changed, jump start, or gasoline delivery for your registered vehicle. We will reimburse you up to $100.00 per occurrence (not to exceed $1,500 for the term of this benefit). Exclusion: no benefit for cost of gas or repair if it is performed at a repair facility. To be reimbursed fill in the information requested on a claim form and mail it to us. Be sure to include receipts from the service company used. Note: this benefit expires 36 months after the purchase of your vehicle.

$2,000.00 in emergency travel expenses if your registered vehicle is disabled by a mechanical breakdown 100 miles or more from your home. We will reimburse you for meals and hotel expenses up to $100.00 per day (not to exceed 3 days for any one claim for the term of the benefit). To be reimbursed fill in the information requested on a claim form and mail it to us. Be sure to include receipts for meals, hotel, and your paid invoice from the repair facility. Note: this benefit expires 36 months after the purchase of your vehicle.

$150.00 in lockout reimbursement if you lock your keys in your registered vehicle. We will reimburse you up to $30.00 per occurrence (not to exceed $150.00 for the term of this benefit). To be reimbursed fill in the information requested on a claim form and mail it to us. Be sure to include a paid receipt with name and address of the locksmith. Note: this benefit expires 36 months after the purchase of your vehicle.

Reimbursement Request Form Please mail claim form and all receipts for reimbursement! Customer Name:____________________________________________________ Address:___________________________________________________________ City:_______________________ State:______ Zip:________________________ Phone:_____________________Email___________________________________ Dealership:_________________________________________________________ Purchase Date:_________________ Type of vehicle:________________________ Check Program(s) Requesting: __Exterior Reimbursement

__ Lockout Reimbursement

__ Insurance Deductible

__ Emergency Towing

__ Ambulance Service

__ Emergency Travel

__ Emergency Roadside

__ Lockout Reimbursement

__ Insurance Deductible

__ Emergency Towing

__ Ambulance Service

__ Emergency Travel

__ Emergency Roadside

Customer Satisfaction Resources, Inc. P.O. Box 22728 Louisville, KY 40252-0728

__ Lockout Reimbursement

__ Insurance Deductible

__ Emergency Towing

__ Ambulance Service

__ Emergency Travel

__ Emergency Roadside

__ Lockout Reimbursement

__ Insurance Deductible

__ Emergency Towing

__ Ambulance Service

__ Emergency Travel

__ Emergency Roadside

Customer Satisfaction Resources, Inc. P.O. Box 22728 Louisville, KY 40252-0728

__ Lockout Reimbursement

__ Insurance Deductible

__ Emergency Towing

__ Ambulance Service

__ Emergency Travel

__ Emergency Roadside

__ Lockout Reimbursement

__ Insurance Deductible

__ Emergency Towing

__ Ambulance Service

__ Emergency Travel

__ Emergency Roadside

Customer Satisfaction Resources, Inc. P.O. Box 22728 Louisville, KY 40252-0728

More Than A Dealer As one of the largest privately-owned auto groups in the country, Ray and his wife, Elsie Catena, work tirelessly year-round to give back to their surrounding communities and various charitable foundations. These include Susan G. Komen for the Cure, Autism Speaks, the Meridian Health Affiliated Foundations, The Boomer Esiason Cystic Fibrosis Foundation, The Community Food Banks of Middlesex, Monmouth and Union Counties, Robert Wood Johnson Childrenâ€™s Hospital, New York-Presbyterian Hospital, The Make-A-Wish Foundation, Ronald McDonald House, St. Jude Childrenâ€™s Research Hospital, The Valerie Fund, Rutgers Spinal Cord Injury Project, The Seeing Eye, Mary Help of Christians Academy, Monmouth Park Charity Fund, countless philanthropic organizations and local school and recreation programs throughout New Jersey and New York Positive recognition from the manufacturer is also very important to Mr. Catena. Many dealerships are awarded annually for outstanding achievement and prosperity.

We hope that you had a truly exceptional experience with us. Please take a few minutes to tell us about your experience at one or all of the sites below.

R AY C A T E N A . C O M