Warranty Company

[NacMan 67]

What warranty company would you recommend? Im currently considering AutoGuard, auto protect and centurion warranties. Should I do self funded or leave it all to the warranty company?

Thanks

[Arfur Dealy 823]

A warranty is in addition to your responsibilities under the CRA. 

[NacMan 67]

I do know this under consumer law. I never asked anything of the kind to be honest mate.

[Arfur Dealy 823]

1 minute ago, NacMan said:

I do know this under consumer law. I never asked anything of the kind to be honest mate.

Why do you ask? How many cars have you sold since starting the business?

[trade vet 702]

Autoguard are a very good warranty company.Premium cover from about £150 but it covers all sorts.We have had breakdowns in London that they have quickly solved.They also payout very quickly if you organise work yourself.We had a Renault WAV autobox problem and they organised a local expert repairer to do it quickly,it cost them a grand.The punter was delighted.However if you  carry a big stock and do a lot,it makes sense to do your own.

[AW Motorgroup 18]

11 hours ago, NacMan said:

What warranty company would you recommend? Im currently considering AutoGuard, auto protect and centurion warranties. Should I do self funded or leave it all to the warranty company?

Thanks

I used to be with Autoguard and changed to Handler warranty and seems to be working out for the best as 19 cars sold in July. They got a promotion currently so a 6 month warranty they are adding 2 months extra free so it’s an 8 month cover  around £120 gold cover. It’s down to personal preference for me on self fund as I don’t want to deal with it once I’ve counted the money and prefer the warranty company to deal with it however the onus is always on us dealers as the per the 30 day/6 month laws so it’s best to make sure a decent Pre Delivery Inspection is done so you do the main checks before you flip it. This gives a bit of confidence on your stock. If you get a comeback you can go through the warranty BUT it all depends on the level of cover you want to spend on and if they don't cover the fault under there t&c’s then you will still have to fix it. I find warranty’s add confidence to the sale which equals to a more probable sale, however it all comes down to what your retailing in the first place... 55 plate Yaris with 120k on the clock vs 13 plate Fiesta with 22k on it... and that’s where warranty’s can help on the repairing issues vs if taken to court with in 6 months of not fixing the faults etc. I hope this helps mate.

Cheers, Amer.

[David Horgan 564]

1 hour ago, AW MOTORGROUP said:

around £120 gold cover.

Hi , I worked this out some years ago , 19 cars at £120 =£2,280 a MONTH terrified me x 12   £27 k a year 

Been self warrantied from that day . Reckon I'm £300k up over the time span 

[CRW 73]

I always cover a standard 3 month warranty myself. Without getting into the whole debate of being liable for 3 months/ 6 months/ 6 years/ eternity... if anybody wants a longer warranty, its done through the warranty company, currently Autoprotect. In most cases I make them pay "cost" for it.  I explain it doesn't cover everything, its not without its loopholes and faults, but I am selling it to you at cost, there's nothing in it for me, but something is better than nothing.

Occasionally I get asked why I wont cover a year myself and I just explain as a one man band, selling about 100 cars per year, all covered by me is too much for me to carry.  Also, you know they will bring the car back after 11 and a half months for its MOT and try to claim every advisory, bulb or wiper blade be covered! 

[Mojo121 229]

At certain ends of the market no one gives a shit what level of warranty they get as long as it’s at least a month.

We’ve done it both ways and better off without giving things way and selling extended warranties if people want them.

[trade vet 702]

2 hours ago, David Horgan said:

Hi , I worked this out some years ago , 19 cars at £120 =£2,280 a MONTH terrified me x 12   £27 k a year 

Been self warrantied from that day . Reckon I'm £300k up over the time span 

It definateley works if you do a lot of business.Years ago when cars were not complicated we started throwing in our own cover.We just used to put £60 in a separate account,the surplus soon mounted up.My old pitch still do their own.We followed that by giving punters the option of what we called a Customer Care Pack which included 12 months warranty,some road tax,an MOT,oil and filter,luxury mats which cost £6 and other stuff which cost very little.We charged £300 for that and a lot of the punters would just add it to the chucky agreement.The result was phenomenal.These days with the average cost of MOTs alone,you would have to charge at least double to have the same result.

[NacMan 67]

ARFUR DEALEY- I have been a dealer for the past 15 years so I know the law... I had a short break and am coming back into the trading game. I used to use warranty wise but they have gone down the toilet recently. I am asking about which company. I am expecting to sell 5-6 a month whilst starting off again and then hopefully 10 which then ill be going to self funded.

[Casper 272]

1 hour ago, tradex said:

Warranty Wise have ceased trading, news to me? 

As far as I'm aware there still trading there website etc is still up and running . Unless anyone knows different .

[NacMan 67]

I ended up going with autoguard...

[NacMan 67]

I never said that I said they are absolutely shite and don't really pay out.

[NacMan 67]

No problem, personally I used them a few years back they were good however I used to sell new land rovers and porsches, etc so not sure on payout. However family are in trade and used them they say they never pay up