It works by the dealer setting aside an amount in a separate fund for each used car sold. The dealer can then take out the amount needed for any repairs as warranty claims occur.
Network Automotive Management, which specialises in providing a range of outsourced services to motor manufacturers and dealers, has introduced the service in association with specialist motor industry law firm Lawgistics.
NAM and Lawgistics play their part in the scheme by providing a complete legal framework and helpline for the dealer plus appropriate warranty booklets and paperwork.
(Source: Aftermarket network)