Warranty companies

[Grantlfc81 88]

I have been approached by 2 warranty companies both look good on paper -

warranty assist and handler protect 

both look excellent on paper.... portals seem good, has anyone had any experience with them?

[EPV 631]

Warranty Assist are good but i’ve just switched to running my own via Lawgistics. On 99% of the cars I sell I get a PDI done, new MOT and small service. That doesn’t stop the gearbox going or the Sat Nav blowing up but i’ve found i’m not getting any comebacks and I don’t expect loads either so Lawgistics will save me money over the year. 

But if you do want an insurance policy then warranty assist have a good setup and cover. 

[drivewaycarsales 2]

I'm interested in this thread too. (New member, hi!). I deal from home part-time - yes another. Started last year as something more interesting than the day job (IT).

 

Does anyone trading from home have any advice/recommendations?

 

Ta!

[EPV 631]

28 minutes ago, drivewaycarsales said:

I'm interested in this thread too. (New member, hi!). I deal from home part-time - yes another. Started last year as something more interesting than the day job (IT).

 

Does anyone trading from home have any advice/recommendations?

 

Ta!

For warranties? Warranty wise work well for startups imo. 

[katherine 0]

Warranty Assist is good but I’ve just switched to running my own via Lawgistics. On 99% of the cars, I sell I get a PDI done, new MOT and small service. That doesn’t stop the gearbox going or the Sat Nav blowing up but I’ve found I’m not getting any comebacks.

[Mark101 536]

9 hours ago, EPV said:

For warranties? Warranty wise work well for startups imo. 

+1 on that but I must add a caveat (applies to all warranties).

A warranty will only be valid if the vehicles servicing schedule is up to date.  So, on the surface 3 months warranty can look very reasonable and give both you and your buyer some comfort - however, when that timing belt snaps and the warranty company check out the history to find it hasn't been done, that bill is back on you.

So, warranty insurance about £40 (nice) factor in at least a light service (if the history is out of date and something we do anyway) and maybe even a major service - suddenly, to make your warranty worth the paper it is written on - it may end up costing you several hundred pounds.

I used to self insure my warranties becuase my level of claims being virtually zero.  I put the money that I would have paid Warranty Holdings (remember them?) in a separate account and used this as contingency funds.  Now, I don't have my own workshop or the time, staff etc to manage this effectively, so I think paying a 3rd party is the best option for me.

That's my advice, rightly or wrongly.

[EPV 631]

Sorry i’ve just realised I put warranty wise when I meant warranty assist. 

Warranty assist have a portal that allow you to get quotes. It asks you when the car was last serviced and MOT’d, before it spits out a quote. 

I cant speak for warranty wise. Sorry for the confusion. 

[BHM 994]

Many many moons ago and I used Warrantywise when I first started dealing from the door & they were good on the couple of claims I had.

Tbh after a year or two I ditched offering warranties - a waste of time & money imo and it’s rare that a punter ever mentions one.

[Earunder 69]

Our extended warranties are with The AutoGroup.  They are the best from my experience and cover a lot more than the others do.  They're payout is very strict though and you must ensure you have service history with the vehicle.  At the end of the day, you get what you pay for.  Don't cheap out as it's a reflection of your company if things go wrong and are not covered.

[AutoJacob 34]

We make a fair bit on warranty wise warranties, about £100 extra per sale as we operate using their 100% profit feature, it doubles the price on screen that customers see and we only pay half.

They're also great on the customer service front.

[Mark101 536]

37 minutes ago, AutoJacob said:

We make a fair bit on warranty wise warranties, about £100 extra per sale as we operate using their 100% profit feature, it doubles the price on screen that customers see and we only pay half.

They're also great on the customer service front.

I have exactly the same deal.  Another revenue stream to compensate for some of the poorer margin cars (no one mention my Fiat 500 please )

[Rory RSC 596]

Warrantywise are the worst company I have ever dealt with in this trade. But the flags and mugs are good.

 

[justina3 518]

40 minutes ago, Mark101 said:

I have exactly the same deal.  Another revenue stream to compensate for some of the poorer margin cars (no one mention my Fiat 500 please )

why what have i missed about the Fiat 500 

 

couldnt help asking 

[drivewaycarsales 2]

3 hours ago, EPV said:

Sorry i’ve just realised I put warranty wise when I meant warranty assist. 

Warranty assist have a portal that allow you to get quotes. It asks you when the car was last serviced and MOT’d, before it spits out a quote. 

I cant speak for warranty wise. Sorry for the confusion. 

Thanks.

[NOACROSS 414]

WMS / Safe & Sound are OK.  However, I think it depends on which Area Manager you get.  I've known ours - Pete Jacob for many years and he's great.

[Mark101 536]

3 hours ago, justina3 said:

why what have i missed about the Fiat 500 

 

couldnt help asking 

Paid too much and its sticking around too long

[RH Trading 80]

we use WMS on the cars that need it, cant fault them. must have had the same experience as Rory as wouldn't go near Warrantywise with a barge pole

[MattR 177]

I would recommend  WMS. I've had the same rep for 6 years, always helpful on those grey areas which most companies try to wriggle out of. costs me £55 per car for 3 months warranty, £95 for 12. Mark is right about things like cambelt (unless a change has been done at manufacturers times, they wont pay out on one snapping) but they have always covered my cars for the other bits no matter the service history on it.

[Flipping Cars 5]

Personally, I use Warrantywise. Always found them fair. Only ever had one issue and Lawrence Whittaker called me personally to discuss so that was appreciated. People know the brand too and that makes a difference.

[Mark101 536]

2 hours ago, Flipping Cars said:

Personally, I use Warrantywise. Always found them fair. Only ever had one issue and Lawrence Whittaker called me personally to discuss so that was appreciated. People know the brand too and that makes a difference.

I'm a Warrantwiser too, just wish it was Clarkson who fronted it - many of the younger generation don't remember Quentin.  They offered me a life sized cardboard cut out of him, I didn't accept.

[Flipping Cars 5]

Not sure id want a life-size cut out of Clarkson too though  lol

[tradegirl 112]

On 12/04/2018 at 7:50 AM, Mark101 said:

+1 on that but I must add a caveat (applies to all warranties).

A warranty will only be valid if the vehicles servicing schedule is up to date.  So, on the surface 3 months warranty can look very reasonable and give both you and your buyer some comfort - however, when that timing belt snaps and the warranty company check out the history to find it hasn't been done, that bill is back on you.

So, warranty insurance about £40 (nice) factor in at least a light service (if the history is out of date and something we do anyway) and maybe even a major service - suddenly, to make your warranty worth the paper it is written on - it may end up costing you several hundred pounds.

I used to self insure my warranties becuase my level of claims being virtually zero.  I put the money that I would have paid Warranty Holdings (remember them?) in a separate account and used this as contingency funds.  Now, I don't have my own workshop or the time, staff etc to manage this effectively, so I think paying a 3rd party is the best option for me.

That's my advice, rightly or wrongly.

Mark could you explain that for me again please? If there are gaps in the history, they won't honour the claim?

But if there are gaps in the history but you service the vehicle, they will honour the claim?

[Mark101 536]

16 minutes ago, tradegirl said:

Mark could you explain that for me again please? If there are gaps in the history, they won't honour the claim?

But if there are gaps in the history but you service the vehicle, they will honour the claim?

The car either has to be up to date with it's service history (including timing belt kits I presume), as in another service wouldn't fall due within the warranty period, or if it has little or no history, you need to service the vehicle prior to sale.

When you sign up to a warranty on a specific car, you need:

Last MOT date

Last Service Date

and a drop box saying, has the car got - full history, partial history or no history.  Even if a car has full history, I always check partial in case one service happened to be out of date/mileage range allowing them to reject a claim possibly.  Cost is the same anyway.

 

[trade vet 697]

If you are doing over 5 per week,do your own warranties.It works,you are in control and the punters appreciate the service.It is not as if in a year you will spend £20k on claims.....unless you don’t know what you are doing.

[EPV 631]

2 hours ago, trade vet said:

If you are doing over 5 per week,do your own warranties.It works,you are in control and the punters appreciate the service.It is not as if in a year you will spend £20k on claims.....unless you don’t know what you are doing.

Agreed. I don’t do anything like 5 a week but I still run my own. Only time I won’t is on things like this 545i tourer I have. I’ve paid for a 6 month 3rd party warranty for £220. Worth every penny on something like that.