Self funded warranty good or bad?

[Self funded warranty good or bad?]

14 hours ago, trade vet said:

Doing 120 and putting in £100 per car you should be slightly better off over the year but you won’t build up a pot of money.Just do it yourself and get your own books printed and call it a ‘ breakdown agreement’.Unless things have changed you can’t call it a warranty unless it is underwritten by an insurance company.No need to use a warranty administration company,you can manage any claims yourself and customers do appreciate that.

Good advice from Trade Vet... We also run a 'warranty' fund at £100. x 250 units (circa) and administer ourselves, last year we spent £13700 and shared the surplus as dividends. Although, as another contributor commented, we are meticulous on mechanical prep. Prevention is better than cure every time.  

[A sign of things to come?]

On 5/11/2020 at 9:23 PM, Bmx Bandits said:

Some trades must be really hurting by now. Do you think van sales will be as badly hit as car sales post lockdown? 

 

Forgot about them being closed, I’m sure they will be back soon and hitting people properly hard!

 

The question is how hard to kick them? Its hard when you know them and some are going to be in proper trouble.

 

Plead poverty, tell them the cheque book is closed, perhaps offer sale or return if you need the stock and ,If you are on good terms with your customer(s), get a 'third party' involved who can make them a low ball offer without the wrath of the customer directed at you. Just be careful how you mark the car up on site if he's local.