NAC’s CEO Weighs in on How Ride-Hailing is Changing the F&I Industry

National Auto Care’s CEO Tony Wanderon recently shared his expert opinion with P&A Magazine as the industry publication examined how services like Uber and Lyft may be impacting our industry.

According to the article, Wanderon’s chief concern is the enhanced likelihood of a claim arising within the first two or three years of ownership, which is traditionally considered a low-risk period for new vehicles.

“If they drive more than 25,000 miles per year, they come into risk fast, and you’re not going to have the earnings to pay the claims. … When you get a higher loss upfront, you want to make rate adjustments, but you don’t really understand the risk you’re taking on at this point.”