Noticed my only competition is now offering warranties. Who do I need to get in touch with to find out about these services? Do I get a commission for selling a warranty? Year, mileage restrictions?

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We use C.A.R.S. Protection Plus.   Starting rate is $99  for their Power train warranty.  3 Months 4,500 miles. I usually put their 6 Month Value Plus Warranty on vehicles. Its $255 and covers pretty much everything.

Eligibility Requirements. Any vehicle that sells for over $1500 and has less then 200,000 miles.  No Age limitation - TMU vehicles are acceptable, odometer must be operable, and R titles are also acceptable.  Contract must be sold within 20 days of vehicle purchase.

I am located in Florida. C.A.R.S. is not offering services here. Any others?

I really like the prices of the CARS warranty. That is absolutely perfect, but not offered in Florida. I have been calling around without anything similar

Contact Shannon Green at 1-504-466-8802 he can help.

Call Lee Euler from ASC at 800-442-7116, X 1206

They have a program for Florida. I use them here in NJ with BHPH dealers now.

Don Gill, NJ Agent

856-384-0440

AUL has several good service contracts that work well for us on BHPH accounts.  The have an affordable plan for 3/3 6/6 and 12/12 contracts or the most popular for us is the 3 yr 50k miles power train.  They have a provider that will also finance the contract for the customer for 0%.  The customer just pays the dealer a down payment on the contract of around $75 and sets up the payments for around $35/month for 18 months on a automatic debit card or checking account.  This is a basic warranty that covers internal engine, transmission and rear end.  Seals and gasket coverage is also available and they all include roadside assistance and rental car reimbursement.  They will only finance a service contract that is at least 24 months in term so the shorter ones do not work.  We like this 3 yr 50k basic warranty because it covers the critical, expensive break downs and also we do not have to fork out the money to pay for the contract since they will finance it for the customer.  As long as the customer has service records we have never had a problem getting a claim paid.  I'm not sure if they operate in Florida but it is worth looking into.

Steve,

Where are you located. I have a 2 yr, 50,000 mile P/t for $344 and a 3 yr., 85,000 for $391 dealer cost fully insured plus zero financing for 12 or 18 months with as little as 10% DP.

Plus, Drew, you can call me at 856-384-0440 and I could put you in touch with a few different companies

You should call EOS Group..Jim Thompson 856-669-7593.  They have a lifetime powertrain warranty with seal & gaskets, towing and rental (fully insured).  Cost is fantastic.  $239 and if you use their warranty you get an additional fifty dollar credit.

Worth the phone call.  Good luck

Great price Jim. Who is EOS Group? I see your in New Jersey by your phone number. I am in Westville at 856-384-0440. Where area is 856-669??? Vineland?

Thanks to everyone so far. Look forward to making some phone calls in the AM

I represent ASC in Florida we all zero duductible any year any mile powertrain up to 8year factory coverage give me a call.   407-284-2060

 

Drew-

 

You need to do some homework.  Below are a few of the 10 Questions you need to ask which come from our Webinar Series.  We have been offering BHPH warranties for years.

 

1)  Make sure you know the difference between an Insured and Uninsured warranty program.  Case law shows that the courts will almost always make you, the dealer,  pay for repairs if the warranty company goes out of business for any reason (retirement, BK, etc.) It is called "Dealer Obligor", and even though the contracts may exclude it, the courts override it.  Dealer beware.

2) Check out the coverage.  Your job is to make sure that you get paid by the customer until the end of the contract.  If the car breaks down for any reason, the customer doesn't pay.  You need to determine what repairs you want the Warranty to cover  (Oxegen Sensor?), and be prepared to pay for that coverage. All of these warranties are "covered component coverage.  you get what you pay for.

3)  Make sure you cover the entire term of the contract, including all the  miles that you expect the customer to drive.  YOUR profit is at the end of the contract.

4) Do you want day one coverage, or first 30 day exclusion?

5) What deductible does the customer need to pay?

6) What maximum coverage over the life of the car?  Purchase Price?  wholesale?  unlimited?

 

If you need help, we offer complete outsourced BHPH:  Capital, operations, experience & expertise (like this discussion) and Management of the processes.We are active in Florida.

 

Toby Reiley, www.FinCoManagement.com  781-639-6000

 

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