Fee Income Solutions
Generate more fee income, protect your vehicle loans and improve member satisfaction and loyalty with our core suite of loan protection products. Our competitors say they offer the most competitive and innovative products on the market today, but do they really? Our clients have access to products that our competitors don't want you to know about and will not share with you.
Vehicle Service Contracts & Mechanical Breakdown Insurance
Vehicle Service Contracts (VSC) and/or Mechanical Breakdown Insurance (MBI) will save your borrowers money and will supercharge you institutions non-interest income. Northstar Group has partnered with the industry leaders in VSC and MBI programs for direct auto lending. Our financial institutions have the ability to participate in 100% of the underwriting profit from Vehicle Service Contracts.
We offer a diverse suite of retention products equipped with cutting-edge technology and proven member engagement practices providing a unique and modern user experience.
GAP
Northstar Group provides the broadest coverage possible for our client’s vehicle loan borrowers. Northstar Group’s GAP program is designed to pay more in benefits for our Lenders and their borrowers.
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150% LTV coverage is standard
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Covers any type of Debt rolled into the vehicle loan
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2 Late Payments and 2 Skip Payments are standard
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365 Day Claim Filing Period
Through our partnerships, we streamline the lending and cross-selling process in one easy to use application that offers:
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Menu Selling
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GAP Illustrations
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Free NADA Vehicle Evaluations
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Streamlined Administration
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Detailed Reports
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Automated Forms Printing
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Incentive Tracking
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Online Claims Status
Total Restart
Northstar Group has recently introduced an enhancement to GAP that can greatly increase the value of your GAP offering. TotalRestart Loyalty Membership Program does more than just forgive a deficiency loan balance created by a theft or total loss. It helps borrowers replace their total loss vehicle with one similar to the one they originally purchased and financed with your Financial Institution.
Auto Deductible Reimbursement
ADR is Auto Deductible Reimbursement – Reimburses the covered policyholder for a loss to their covered vehicle/and or personal effects to the deductible shown on the covered borrowers auto insurance policy up to a maximum of (dependent on what level of coverage financial institution chooses; however, normally $500 is chosen which is standard deductible)