Who are we? We are a provider of reinsured vehicle service contracts and other fully reinsured F&I products for dealerships all over the United States. And we are not like the others: at SideCars, we believe reinsurance is a freedom and right for every qualified dealership. This is about you, the dealer, fully participating in the transparent underwriting profits of your own products. And if you’re an agent, this is about you gaining a new arrow in your quiver—one that is unique, profitable, and highly desirable to your prospect dealers.
Why should you care? Lots of reasons: money; income; profit; investments; moolah; premium; control; freedom; and competitiveness, to start.
Why do we do this? Why not follow the other reinsurance providers’ lead and suck up all those underwriting profits for ourselves? For starters, we feel it’s completely unethical to screw dealers out of money that’s rightfully theirs.
Not only that, but we think (and are being regularly proven on this) that dealers respect administrators like us that understand and respect this about them first. We believe every dealer—all 36,000 in the United States—would seriously consider reinsuring their F&I products if they only understood the true risk and reward. (Disclaimer: reinsurance, even with the extremely price-competitive program we offer, probably isn’t for dealers that sell less than 40 cars a month.)
Okay, so what is it about us that’s so special? For starters, we are experts in the dealer reinsurance arena. We understand exactly what is possible and what’s stupid. At SideCars, we study the tax code to understand the intent of both Congress and the IRS, and then we maximize its applicability to dealerships of all sorts: auto, motorcycles, RVs, and more.
READ THIS: We are very aware of the size of this industry (approximately $12 billion), and we are not greedy. SideCars is not interesting in hand-picking 200 gullible dealerships and sucking them dry. What we are fascinated with is the idea that this industry it RIPE for disruption, and that we can return the power back to dealer principals who understand the power of participating in the underwriting profits of their vehicle service contracts and aftermarket products.
With Amazon, Vroom, Tesla, and other doing their best to strip the dealers of their role, it’s critical that dealer principals understand how to compensate for their front-end compression. And at SideCars, it’s clear to us that participating in the back-end is the best (perhaps only?) way to stay competitive.
WHAT ABOUT AGENTS? Well, glad you asked. We just talked a lot about dealers on this agent. You, dear agent, are a vital piece to this puzzle. It’s obvious to us at SideCars, and if you aren’t getting the warm and fuzzies at your current provider, then allow us to help. Our agents earn competitive commissions, even while their dealer clients enjoy the best wealth-building possible.
How can we be AWESOME for both agents and dealers? Simple: we didn’t revolutionize the reinsurance tractions as laid out by Congress and the IRS…we simply pay ourselves (as the administrator) less, knowing that what goes around comes around. We are confident that by doing what’s best (transparency!) for both agents and dealers, then we are doing the best thing possible for SideCars’ success going forward.
More “W” questions:
When are we available in your area? Now. Contact Us.
Where are we available? All 50 states. Contact Us.