NEW PRODUCT DEPARTMENT BY JOSH SINSKI FIXING FOREVER Build a forever-relationship between you and your customers N othing lasts forever, right? One thing that could last a lot longer-maybe even forever: customer relationships. There is a new product that aims to help car dealerships continue relationships with a platform to offer a modified version of your current vehicle service plan in a private-labeled digital monthly subscription offering. Learn more about how ForeverCar helps that forever-relationship happen between you and your customers. MORE OPPORTUNITIES IN SERVICE Car breakdowns are inevitable. For consumers who are not under warranty, this can lead to unexpected costs and huge hassles. This new product is the industry's first digital platform to offer a vehicle service contract in a monthly subscription form allowing dealerships to expand the cross-sale opportunity to reach a broader audience. These unique products, often available through your current vehicle service contract provider, are designed to not compete with existing vehicle service plans offered by F&I departments. One thing that could last a lot longer - maybe even forever: customer relationships. The goal is to offer the consumer a vehicle service contract solution after the original loan event. Targeting consumers who did not purchase a traditional term product at time of vehicle purchase or when their factory warranty or purchased service contract has run out is critical. A 2019 NADA article reported vehicle service contracts at the time of purchase were 45.7% for new and 47.6% for used vehicles. Accordingly, this statistic tells us that more than half of all customers may be leaving the dealership with no clear incentive to return again. 56