Rising total loss claims: Growing threat to lenders, GAP providers (Off the Lot)
Total loss determinations have risen by as high as 40%
Rising vehicle repair costs, supply chain disruptions and shifting vehicle valuations are creating a perfect storm for lenders and GAP providers. While much of the conversation has focused on interest rates, vehicle affordability and residual values, a quieter but consequential risk is gaining ground: the surge in total loss claims. The anatomy of a total […]
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