Santander Consumer Finance has signed an exclusive agreement with RAC to promote new add-on products to dealers.
The new product line up includes “Liquid Armour” paint & fabric protection, tyre & alloy wheel insurance, MOT test insurance and SMART insurance. All products will be branded using the RAC name and promoted through the Santander Consumer Finance sales force.
Andy Green, marketing director, said: “This is an exciting new partnership for us and carries many benefits to our dealers and their customers.
“We now have a portfolio of seven market leading add-on products all delivered through one IT platform. As a result our dealer partners have outstanding opportunities to increase front-end income and aftersales work through increased customer retention.
“The RAC brand aligned to Santander Consumer Finance in dealerships sends out some very strong messages of trust and reliability to customers buying new and used vehicles along with these add-on products.”
Santander Consumer Finance was the first finance company to introduce Service Plans in 2009 and has been working hard at developing additional products since this successful introduction.
The company has already seen confidence increase within dealer sales staff selling RAC Warranty products that were launched at the end of last year, and product penetrations have shown an increase where they carry a motoring name like RAC, which is instantly recognisable to the end customer.
Green said: “Our sales force have all been highly trained through our Development Academy to work with dealers to build these products into their sales processes in order to help maximise incremental profit.
“These new products will continue to build on our ethos of working with dealers on a consultancy basis to help drive their overall profitability through our day-to-day account management activities.”
Kerry Michael, director of RAC, said: “We are delighted to be working with the leading motor finance house in the UK. This new partnership gives us some outstanding opportunities of working together on these new products and others in the future and our belief is that dealers will benefit strongly from the combined brand presence of both
Santander Consumer Finance and RAC within their showrooms.”
For more information on the new products please contact Charlie Merritt on 07977 204064.