No, but been looking at it. The F&I angle worth thinking about is how it interacts with negative equity. If the customer rolled negative equity into their deal, that portion follows them to turn-in as a percentage of the remaining balance. So it is not a clean exit for upside-down buyers, which is a large portion of our traffic right now. Lithia and Serra are on their dealer list which tells you it has cleared some due diligence at the group level. The question for independent stores is penetration and how it lands with lenders on the deal structure. Worth a conversation with them directly before committing.​​​​​​​​​​​​​​​​

The concept is not new. Return guarantee products have been tried in this space before and the ones that failed all hit the same wall: residual value assumptions built at origination that did not survive real market conditions 12 months out. The math only works when used values hold. Right now we have underwater trades at record levels and depreciation pressure on anything that is not a truck or a popular SUV. I am not saying FlexPass cannot make it work but I would want to see their reserve methodology and reinsurance structure before I sold this to a single customer. The last thing I need is a product that generates a claim dispute at the exact moment a customer is already unhappy about what their car is worth.