Warranty/Finance

[thecarenthusiast 2]

Evening all,

I've been in the motor trade for just over 3 years now (employed by someone) and i've taken a huge leap to go at it by myself FT.

Just wanted to pick everyone's brains really to see which warranty companies dealers use because most of them are not worth the paper they're written on - they try to wriggle out of any claim so just want a basic idea of which warranty company works best for you.

Finance company - again, which one worked the best for you?

Many thanks all.

[Phil H 124]

I don't use anyone as I self warrant the vehicles myself, for everything I sell I put £200 into a kitty and pay for any warranty claims myself out of that.

[James Bush 95]

I'm with warrantywise and they tend to do what they say. I've had very bad experiences with EPG warranty assist so I'd stay away from these.

Are you FSA approved? if not I think you'll find it hard to get a warranty company to work with you.

Hope this helps, and good luck

[thecarenthusiast 2]

Thanks gents, I think the best option for me is to put aside a small amount (£100-£200) from each sale and pay for any warranty claims as Phil H does.

What about finance?

Thanks

[Wood235 36]

Self warrantys are the best, why not have their profit aswell !

They will all wriggle out of a claim at some point and you will wish you did it all yourself!

[Rory RSC 596]

Warrantywise and I put 3 months cover on each car. I try to upsell extended warranties as much as possible. 

The warranty providers do pay out on a lot of things but won't cover much within 30 days or 1000 miles unless it really is a sudden unexpected fault . You have to be very on point when wording things with them.  Some times they won't cover sensors etc but why should you sometimes things fail on used cars. 

 

Finance company we use Close Brothers. Easy to deal with, fairly quick and any declines get sent through their broker and can usually get placed if someone is willing to lend. 

[Andy Entwistle 96]

One piece of advice TCE is to start with a  bigger pot than just the £100 or £200. At some point you will sadly end up with a deal where you will probably need to take the car back or at the very least spend out on a not insignificant repair, always make sure you have enough available to be able to do this

[sk 4]

have used autoguard warranties for the last 3 years,have to say they have been very good for me.