Damage to the vehicle when the borrower did not have the necessary insurance coverage, including total loss- Losses due to the lender being unable to repossess the vehicle
- Losses due to skip tracing, towing & storage
Vendor Single Interest (VSI)
If you are a lender, vendor single interest (VSI) is worth your consideration. VSI is typically a blanket coverage for all assets within your loan portfoilio. VSI helps reduce unforeseen repossession losses reducing net charge-offs.
VSI protects the lender from:
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