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Protective Asset Protection releases its fourth F&I Industry Report
PRESS RELEASES - December 12, 2023
ST. LOUIS (December 12, 2023) – Protective Asset Protection, a leading provider of F&I programs, services and dealer wealth building programs, has announced the release of its fourth (4th) F&I Industry Report.  The report is an in-depth look at the trends and insights shaping the F&I industry; how auto dealerships are using F&I programs in 2023; and the outlook of F&I products used by dealerships for the balance of the year. For the second (2nd) straight year the report also places a spotlight on F&I offerings in the RV-recreational vehicle, marine and powersports industries. Click here to download the F&I Industry report.

With a rich legacy in helping keep vehicles in proper operating condition, Protective recognizes the importance F&I plays in today’s automotive and specialty industries. The report is designed to specifically address the current F&I landscape, and provide an overall view of how these products are performing for dealers nationwide. The report also details specific market challenges and opportunities, feedback from dealers across the U.S., and F&I product growth opportunities.


Key Data Trends from the Report

Comparing 2023 to 2022, nearly half (41.6%) of auto dealers said the sale of F&I products has been up about (5% - 10%) according to Protective’s survey data in the report. This includes products such as vehicle service contracts (VSC), appearance products, tire and wheel, prepaid maintenance, GAP, etc. In fact, more than a third (36.7%) said their F&I sales are up more than (10%) compared with 2022.


Forty-nine percent (49%) of dealers stated that covering electrical components was the most frequent reason consumers noted for selecting F&I protection products, followed by (46%) who said covering advanced technology features and (45%) who said the need for emergency roadside services.


The report also goes in depth on the appetite dealers have in selling more F&I options online, with (68.5%) of dealers saying they are likely or definitely a proponent of enabling customers to research their F&I options online. In a separate question, (89.2%) said they are possibly or definitely a proponent of enabling customers to purchase their F&I options online. Those dealers believe that having F&I options online will help customers take the time they need to make the right decisions, which could help lift their F&I sales. Those in the possible category are proponents but feel it’s important to be able to answer customer-specific product questions digitally. 


Other key areas of the report include a spotlight on how impacts of higher inflation have affected the sale of F&I products, the government’s decision to re-enact student loan payments, and a higher emphasis on vehicle leasing throughout 2023. Additionally, the report also covers key F&I trends for specialty market vehicles, including recreational vehicles, boats, and powersports units.


“Over the years, our annual report has been a valuable resource in helping dealers learn from the current year and help them set the right F&I product strategies for the coming year,” said Rick Kurtz, Senior Vice President and Chief Distribution Officer, Protective Asset Protection. “We believe this report is no different, as dealers across the country fully understand the impact F&I has on their bottom line, as well as customer satisfaction levels. As the market and economy continue to change heading into 2024, the trends outlined in this year’s report will help ensure that each dealer is maximizing their ability to help their customers protect the vehicles they drive today.” 


Click here to download the complete F&I Industry report for 2023.



Protective Asset Protection has been providing F&I solutions for the automotive industry for 60 years. We proudly serve thousands of dealerships throughout the U.S. and Puerto Rico, with innovative F&I products, training, dealer participation programs and technology. Our portfolio of vehicle protection plans, GAP coverage, limited warranties and ancillary products provide opportunities to generate revenue with products that help drive customer retention and satisfaction. Protective Asset Protection is part of the financial services holding company, Protective Life Corporation. For more information about Protective Asset Protection call 800-794-5491, or visit