Notice 035: GAP Forms Approved for Chrysler Capital/Santander Consumer USA 7/2/21
July 2, 2021
We are pleased to announce that Wise F&I has received approvals from F&I Sentinel for various GAP forms to be used specifically with Chrysler Capital/Santander Consumer USA. The effective date of these new lender-specific forms was July 1, 2021. The good news is that Chrysler Capital/Santander Consumer USA will continue accepting the existing multi-lender GAP forms (currently in use) for the foreseeable future, giving dealers plenty of time to set up the new lender-specific forms.
We thought it would be helpful to share this information with you now ahead of the long Independence Day weekend.
Although Chrysler Capital/Santander Consumer USA has not officially announced that the above effective date was only a “soft launch” with a grace period for non-approved forms, we have heard from multiple dealers, that have been told by their lender reps, that it was indeed only a soft launch in this case.
We have seen lenders like Toyota Financial Services stop funding non-approved forms so it is definitely important to work with your Account Executive in implementing the lender-specific F&I Sentinel approved forms from Wise F&I.
FYI: The existing multi-lender GAP forms that your dealers are currently using will remain in place for use with all other lenders alongside these new GAP forms that will be used specifically for Chrysler Capital/Santander Consumer USA. Happy Independence Day!
We know that you may have questions or concerns; so, please feel free to contact your Account Executive or Wise F&I Client Services (at 800-849-9559 or clientservices@wisefandi.com for additional information.
Notice: 035