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Vehicle Products

Collateral Protection Insurance

Kurt Kesler & Associates assists lenders in protecting their entire loan portfolio, including vehicle, boat, real estate and equipment loans, by utilizing a sophisticated, yet flexible, tracking system.

The Collateral Protection Insurance program from Kesler & Associates offers lenders the ability to customize their coverages. Lenders may also have customized reports and notices to meet the specific needs of a particular lending institution.

Kurt Kesler & Associates has a long history of providing on-going, on-site, product support and training. Our highly trained, professional staff is available to answer insurance questions. In an effort to further serve our lenders, claims are adjusted in-house in order that the processing can be fast and fair.

 

Mechanical Breakdown

Mechanical Breakdown is a program for both new and used vehicles, with terms ranging from 12 months to 6 years, depending on the mileage on the vehicle. Lenders also have a choice in the deductibles they wish to offer their borrowers. Kurt Kesler & Associates is committed to the success of the lender°s marketing efforts. To that end, the MBI product includes computer software used to both quote policy costs and then sell the policy.

On-site training of lender staff is provided as often as is necessary to establish lender comfort in selling to their borrowers. Service Contracts are available for those lenders in states filed to sell service contracts, Kurt Kesler & Associates also offers a Service Contract program for both new and used vehicles. As with the MBI program, there are a wide range of both terms and deductibles that lenders may offer their borrowers, and on-site training is provided for as long as the lending staff feels that they need it.

 

Lease Look-Alike

The Lease Look-Alike program allows Banks to enter into balloon auto financing without having to get into the leasing business. This program affords Banks the opportunity to expand the automobile portion of their portfolios targeting a different segment of the auto financing market. The program benefits both the borrower and the Bank. Available for both new and used vehicles, the program results in a lower monthly payment for the borrower without the requirement of a large down payment. The borrower may turn in the vehicle anytime during the term of the loan, but a buyer for the vehicle will be established at the end of the term.

If preferred, the borrower may purchase the car instead. Generally speaking, the use of this program will result in lower automobile insurance premiums for the borrower. Implementation of this program increases finance income when compared to standard straight automobile loans. Title remains in the borrower°s name, and should they decide to purchase the vehicle at the end of the term, they must notify the Bank so that a new loan may be written. Additionally, the Bank is not exposed to legal liability. Kurt Kesler & Associates will provide on-site training of lending staff as often is necessary to establish comfort in marketing this program.

 

GAP Program

The GAP Program helps both borrower and lender in the event a vehicle is stolen or totaled. It will pay off the deficiency between the insurance settlement and the Amortized Loan Balance (ALB) and will also reimburse the borrower for their insurance deductible. Depending on the GAP product chosen, monies can be available to put towards the down payment of a replacement vehicle. As with our other products, Kurt Kesler & Associates is committed to serving our lenders in several ways. We offer on-site training to lending/sales staff as often as is deemed necessary by the lender, we have a GAP representative in our Napa office to answer lender questions, and claims are adjusted in-house in order to have the processing be fast and fair.