AutoXcel is here to support you in your compliance efforts concerning important lender updates and changing requirements. The following updates will go into effect starting July 1, 2024. Any Agent or Dealer is welcome to contact us for more information or assistance.
Capital One Updates:
Effective 7/1/2024, Capital One Financial will require all Vehicle Service Contracts (including bundled ancillary products and standalone products), Pre-Paid Maintenance, and Vehicle Protection Product forms to be pre-approved for funding.
Hyundai Capital America Updates:
Effective 7/1/2024, Hyundai Capital America (which also includes Genesis Finance and Kia Finance America) will require all Vehicle Service Contracts (including bundled ancillary products and standalone products) to be pre-approved for funding.
AutoXcel Is Here to Help:
AutoXcel is proactive in its efforts to have all applicable product forms approved by the implementation date. Based on our reports, we have all applicable HCA forms pre-approved and HCA plans added to dealers. Please use HCA plans when utilizing Hyundai Capital America, Genesis Finance, or Kia Finance America for funding.
We are still finalizing the setup of Capital One plans and will add them to Dealers over the next couple of weeks.
Please contact us with any questions, or if you require assistance with these important lender updates.
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