October 30, 2018
Just launched last year, VALUEWise is an automotive diminished value protection program. VALUEWise is one of the first of its kind to hit the automotive ancillary finance and insurance market. VALUEWise offers protection to the vehicle owner if their car gets in an accident, but is not deemed a total loss. Even after the vehicle is fixed, the value of the vehicle decreases as much as 30%, just for being in an accident. This decrease is called diminished value. The vehicle owner is protected against this diminished value and could receive up to $5,000 when they trade-in or sell their vehicle with VALUEWise.
“We increased the coverage amount of VALUEWise from up to $4,000 to up to $5,000 to give the vehicle owner more financial support when they go to trade-in or sell their vehicle after it has been in an accident,” said Matt Croak, President, Wise F&I. “As one of the only programs protecting against diminished value in the market, we wanted to make sure we were providing the right amount of coverage for the vehicle owner.”
With the addition of VALUEWise, Wise F&I now offers consumers a complete financial protection package. VALUEWise protects against a partial loss from diminished value, and is available on all eligible vehicles, new or pre-owned, regardless of condition. It complements Wise F&I’s GAPWise, which protects against financial loss due to a vehicle’s total loss or theft. Wise F&I’s additional products include, WiseCARE, WiseTVP, WiseMVP, TIREWise, THEFTWise and KEYWise. All Wise F&I products are available for electronic contracting.