SK Motors

Warranty providers ?

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As a part time trader from home I've been using Warrantywise to provide my warranties. When I joined up with them there was no problem with me being part time, no minimum number of sales per month etc.

Just recently my account manager has left and a new one taken over, they told me I needed to sell 2-4 warranties per month otherwise they would close my account ! 

Had an email from account manager yesterday saying they've failed to contact me on numerous occasions and the underwriters had reviewed my account and have decided to close my trade account with immediate effect.

I've spoken to them this morning and explained I've had no missed calls or messages from anyone and that I have 2 vehicles for sale both advertising they will come Warrantywise warranties.

They aren't interested and have just said I will have to use their website for warranties which for the one vehicle is £690 for 12 months cover instead of £280 !

Can anyone recommend a warranty company that will allow a part time trader selling 1 or 2 vehicles a month to provide their warranties or am I really better off just self warranting ?

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8 hours ago, SK Motors said:

As a part time trader from home I've been using Warrantywise to provide my warranties. When I joined up with them there was no problem with me being part time, no minimum number of sales per month etc.

Just recently my account manager has left and a new one taken over, they told me I needed to sell 2-4 warranties per month otherwise they would close my account ! 

Had an email from account manager yesterday saying they've failed to contact me on numerous occasions and the underwriters had reviewed my account and have decided to close my trade account with immediate effect.

I've spoken to them this morning and explained I've had no missed calls or messages from anyone and that I have 2 vehicles for sale both advertising they will come Warrantywise warranties.

They aren't interested and have just said I will have to use their website for warranties which for the one vehicle is £690 for 12 months cover instead of £280 !

Can anyone recommend a warranty company that will allow a part time trader selling 1 or 2 vehicles a month to provide their warranties or am I really better off just self warranting ?

Try VGS.

No minimum number of warranties just as and when you need and competitive too.

http://www.wmsgroupuk.com/car-dealer-warranty-products-2/?utm_expid=76105206-2.LAI6gtChRyCUN74N2r-aRA.1&utm_referrer=https%3A%2F%2Fwww.google.co.uk

 

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On Thursday, May 19, 2016 at 8:11 PM, russp said:

Just spoke to them this evening and they require a minimum 1 sale per week !

They suggested I try Warranty Direct, anyone got any views on what they're like ?

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Probably best just to self warrant. Put £100 from each sale into a separate account and do not touch it for anything other than "warranty" repairs.

Remember whatever insurance based warranty you put on the car the customer can still bring the car back to you when the warranty company more than likely does not pay out ! 

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Lawgistics write warranties for self underwriters.

Provide a nice glossy booklet that you fill in.

I pay around £8 per book and then run a pot of £1000 for any repairs with a £500 claim limit.

I sell the 12 mth for £350 and every time I do, I add it to the £1000 pot, after 12mths can drop it into profit?

I originally set up with Warrantywise, however have heard horror stories about claims and also I dont want pictures of Quentin Wilson all over my unit!

 

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51 minutes ago, Max Branning said:

You sell a warranty with a £500 claim limit for £350 please dont tell me people actually buy that??

I assume that is PER claim with an unlimited number of claims...........Otherwise what idiot would buy it?   :huh:

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17 hours ago, bestprice4cash said:

I assume that is PER claim with an unlimited number of claims...........Otherwise what idiot would buy it?   :huh:

Yes, Max per claim! Total claim limit is the value of the car!

I'm not that tight!! 

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Max branning gave the best advice here!

Why not have the warranty companies profit aswell?

plus..... There will be a time when they have had thousands from you and won't pay that claim and you will end up footing the bill yourself as you are still liable for it!

we've been doing this for years now, much better practice!

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On 26/05/2016 at 4:52 PM, Mat C said:

Lawgistics write warranties for self underwriters.

Provide a nice glossy booklet that you fill in.

I pay around £8 per book and then run a pot of £1000 for any repairs with a £500 claim limit.

I sell the 12 mth for £350 and every time I do, I add it to the £1000 pot, after 12mths can drop it into profit?

I originally set up with Warrantywise, however have heard horror stories about claims and also I dont want pictures of Quentin Wilson all over my unit!

 

Thanks for business Mat C and the mention... we hope the booklets are working well.

They actually cost £6 per booklet OR less if you buy more... do not worry, you did not pay £8, I checked and have also sent you a small thank you in the post :)

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On 6/8/2016 at 10:35 PM, LawJaw said:

Thanks for business Mat C and the mention... we hope the booklets are working well.

They actually cost £6 per booklet OR less if you buy more... do not worry, you did not pay £8, I checked and have also sent you a small thank you in the post :)

(Plus Vat! :))

And thanks a million for the 'thank you' 

I'll keep singing your praises!

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