Advertisement feature from Warranty Administration Services Ltd
You walk into the workshop and see the car you bought at the auctions up on the ramp getting its preparation done.
Engine looks good. Chassis looks strong. No squeaks. No rattles. The service book is up-to-date with manufacturer’s stamps decorating every page. This one could roll straight out onto the forecourt!
But wait. You spoke too soon.
The rear discs are worn thin and a window switch isn’t working.
So you put the time and money into correcting the issues and prepare the car ready for sale. Maybe you do the work in-house or, perhaps you employ a technician to do an independent check to give your customers added reassurance. However you approach your preparation, dealers are spending more time and money ensuring vehicles are inspected to the highest standard to meet customer expectations.
What happens next?
Your customer agrees to buy the car and, to give them extra peace of mind, you include a warranty with the deal. Your customer drives away happy and enjoys a trouble-free experience in their new car without even making a claim on the warranty.
So you spent all that money preparing the vehicle and then paid an additional premium for a warranty that wasn’t really needed. How many other cars have you bought warranties for that were never claimed upon?
Perhaps this is a good time to sit down and total up the money you’ve spent buying in warranties, then subtract the money your warranty supplier has paid in claims.
Whatever remains is how much your warranty company is profiting from the quality of your stock. Profit that could and should be coming back to your bottom line.
Ask yourself - is it good business and in the best interest of your customer to pay a warranty company that has a massive financial incentive to retain as much of your premium as possible? I’ll let you answer that one.
So what can you do about it?
Speak with the self-funded warranty experts at Warranty Administration Services Ltd on 01522 515600. For 35 years, they have empowered motor dealers to profit from the quality of the vehicles they sell by helping them offer their own customer-focussed warranty.
A trusted service that steers the customer perception of warranty back on track. Featuring all the bells and whistles, they deliver every penny not used for claims back to you, with your customer’s best interest at the heart.
So instead of paying out premiums, you build a flexible claims fund in your own business.
Instead of arguing to get something covered for a valued customer, you work with a team who treats your customer fairly. Without vested interest.
Warranty Administration Services Ltd have set the standard for self-funded warranty since 1984, and have built a reputation of trust and transparency working alongside new and used dealers throughout the UK including names like Hendy, TC Harrisons, Furrows and Arbury.
So, is it time to go self-funded?
Visit www.warrantyadmin.co.uk or call 01522 515600 today