When you first buy a new vehicle, it’s easy to take the warranty for granted. After all, if you have any issue, your local dealership is easily able to resolve the problem. It seems simply enough, and it alleviates many of your worries. By the time your warranty eventually expires, you’ve likely put quite a few miles on the vehicle. It’s easy to panic and think that vehicle extended warranty programs provide the only solution, but this isn’t true. Read more “The Concerns of an Expired Vehicle Warranty”
A bumper-to-bumper warranty sounds pretty fantastic. When you buy a new car, you’ll be told about all the great deals, trade-in options, and various packages or trims that are available. They’ll also do their best to convince you that a bumper-to-bumper warranty is the best thing ever. It may sound great, but the reality is that factory warranties come standard and often cover the basics well enough. A bumper-to-bumper warranty is provided by the dealership and is designed to be truly comprehensive. This is definitely a step beyond the factory warranty, but it might not be the golden promise you imagined it to be. The reality is that they don’t last forever. Fortunately, extended vehicle protection plans can pick up the slack and offer the security you need when dealership and factory warranties fall short. Read more “Are Bumper-to-Bumper Warranties Worth it?”
A car is an investment. Once it’s been paid for and brought home, the owner takes measures to keep it looking and feeling like new. This includes routine oil and filter changes, tire rotations, fluid refills, and battery replacements. However, these aren’t the only maintenance cars need. Accidents and mechanical failures can occur along the way, leading to unexpected damage and costly repairs. Read more “Everything You Should Know about Protecting Your Car”
Whether your business sells, repairs, insures, or lends money to purchase cars, offering the right vehicle service contracts is crucial to your bottom line and customer satisfaction. Purchasing auto service contracts should be a straightforward process for businesses and consumers. Service contract companies should detail their coverage in clear language, but that isn’t always the case. Some vehicle service contract companies offer different types of auto service contracts, including manufacturer’s extensions and classic car service protection plans. These plans should include five coverage areas, no matter what type of plan it is, although there are usually additional options that can be added. Read more “Top 5 Things Your Vehicle Warranty Covers”
An extended vehicle service protection plan is more than just nice to have. For a dealership, maintenance and repairs are part of doing business, and you’re always looking for a way to cut down on costs and save money. With a great extended vehicle protection package, you may be able to get everything you want from a single service provider. This is why it’s so essential that you compare and contrast vehicle service plans to see what you can get for the money. You may be pleasantly surprised. Read more “Things You Should Look for in a Vehicle Service Plan”
No one wants to pay for costly repairs out of pocket, which is why so many people consider an extended vehicle warranty plan. Fortunately, an extended warranty is not the only option. Whether you need coverage for a new car or a vehicle with over 100,000 miles, a vehicle service contract provider can offer an extended service contract to help cover your car or truck and provide ongoing support and protection. Read more “How to Choose Your Vehicle Service Contract Provider?”
Is your company planning on buying used cars? Then you might want to invest in an extended vehicle service contract, which can provide many benefits to you and your customers. There are several factors you need to consider before making the final purchase. Here are the top considerations when buying an extended service contract for used cars.
What Will Be Included?
The biggest factor your company needs to consider when buying an extended vehicle service contract is what will be included. There are several plans provided by extended vehicle service contract companies that cover different components of a used vehicle. An examination of your customer’s needs and what they are willing to spend help determine what level of coverage you will include in your contract. In general, there are four types of coverage to consider.
Powertrain offers basic coverage, protecting used cars most important and expensive parts only, like the engine, drive axle, transmission, etc. A stated component plan offers protection to the powertrain and other parts, like heating and cooling systems, brake systems, water pump, and so on.
An exclusionary plan, popularly referred to as a “bumper to bumper” plan, offers extensive coverage, to the point that instead of listing what is covered, there is only a list of what is not covered. Some used cars still have some of the manufacturer’s plan, which includes some of the car’s parts. A wrap plan will cover the rest of the used car.
What Kind of Savings Will Be Offered?
The next thing your company needs to consider when buying a used car extended service contract is how much savings will be offered. The best-extended vehicle service contract companies are willing to include thousands of dollars of savings in the contract because to do otherwise would mean losing customers. The exact amount of savings depends on how often a customer will use the policy during coverage. This has various dimensions, and you want to make sure your service plan will benefit customers rather than costing them in the end.
How Much Will Your Plan Cost?
Once your company has decided what type of coverage to offer and how much savings will be provided, your next step is to figure out how much the plan will cost. As an extended vehicle contract administrator, you need to understand what your customers can afford on average. This will guide you toward creating a plan that will be profitable to your used car company and being affordable to a majority of customers. You may also want to offer a few payment plan options for customers who might be on the lower end financially. Discuss these options with a vehicle service contract provider to fine-tune the cost of the extended plan your company wants to invest in.
If you would like to know more about what to consider when buying an extended service plan for used cars, contact Freedom Warranty LLC by email at email@example.com.
Do you think extended vehicle protection plans aren’t worth the extra money? Are you sure that all you need is the factory warranty that comes with your vehicle? At Freedom Warranty LLC, we urge you to reconsider this opinion. You see, many vehicle owners keep their cars for up to a decade. In fact, the average car on the road is 11.8 years old. Even with regular maintenance, you’re likely to face expensive car repairs the longer you keep your car.
Luckily, extended vehicle protection plans fill in the gap between the time your factory warranty expires and when you decide you need a new car. Here are some of the many benefits extended vehicle protection plans offer.
- Peace of mind: You know major vehicle repairs are covered when your car reaches the 100,000 mile mark and beyond.
- Reduce the cost of vehicle ownership: This cost extends beyond the sticker price on the vehicle and the interest rate when you finance. It also includes repair costs, which can end up being more than the car is worth the older the vehicle gets.
- Avoid roadside mishaps: Extended plans include maintenance and major vehicle components that keep you on the road, not on the side of it.
- Transferrable: Not planning on keeping your car for long? An extended protection plan that’s transferable increases your vehicle’s value.
Are you ready to purchase an extended vehicle protection plan? Contact Freedom Warranty, LLC, today. We offer a wide selection of vehicle protection plans and protection centers across the United States. Our plans are ideal for vehicles 10-20 years old that still bring you joy on the road but might need a little TLC along the way. In addition to repair services, our plans also include a 24-hour helpline, roadside assistance, and rental services. When you choose Freedom Warranty, you’re choosing to drive with peace of mind knowing you’re covered no matter what. We offer a number of protection plans to meet all budgets. Give us a call today at (844) 307-7483 or visit us at www.freedomwarranty.com to learn more about our extended protection plans.
New car dealer clients are always looking for vehicle service contracts (VSC) for their Buy Here Pay Here (BHPH) dealerships. This can be difficult, though, because the dealership may believe that adding a VSC program will significantly raise prices and make collections harder. Here are a few good tips to help you find the right VSC program for your BHPH dealership.
Understand the Program
The first thing you should do as a dealer client is research what service contract is so you can educate your BHPH dealers. Sometimes called an extended vehicle protection plan, an SVC is a promise your dealers make to customers to perform or pay for specific repairs or services. The contract costs extra and can be purchased at any time.
The second most important thing to do is to get to know every company you are considering for your dealership. Find out if the company is registered in the state they do business in; if they have met all state requirements; and if they are associated with and support the state’s independent dealer association.
Repossessing a Vehicle
You should also know that the repossession of a vehicle is a normal occurrence. You may have to make a few phone calls, but you need to find out if the repo company will let your buy here, pay here dealership transfer the extended vehicles protection plan to a new owner if a car is repossessed or if they charge for a new contract.
Forget about Markups
Regarding new-car sales, banks are always willing to finance best-extended vehicle protection plans. They also mark up the service contract so your BHPH dealership can make a profit from sales. Just remember your dealers you will have to sacrifice a little of the markup to protect your dealer’s investment.
Questions to Ask
Here is a list of a few questions you should ask a vehicle contract service provider: What would you consider as too high for claims-to-premiums? When does the VSC go into effect in terms of delivery date? Will customers receive a deductible for repairs? Does roadside assistance come with the vehicle service contract? Will the provider of the contract pay claims for repairs done at the service department at the BHPH dealership?
Put Customers First
When you find the best vehicle protection plan for your BHPH dealership, talk about how to incorporate the contract costs without overcharging consumers. This will give consumers an idea of how they will benefit from purchasing extended vehicle protection services. When a car is in need of repair, make sure your dealers help schedule appointments and refer shops you recommend to them personally. This is important because both of you hold a financial interest in the cars the BHPH dealer sells, which helps create lasting relationships with consumers and increases profits for the companies involved.
If you want more tips about finding the right SVC service for your BHPH dealership, contact Freedom Warranty LLC online today.
A vehicle service contract is designed to extend beyond the manufacturer’s warranty. Since many problems with vehicles occur beyond that initial warranty, this can be a valuable asset for a vehicle owner. There are a number of things that could result in problems when filing a claim and could make it difficult to receive assistance with the repair. Here are some tips for avoiding some common issues with extended service contracts.
Know What the Service Contract Covers
There are a variety of service contracts that cover different aspects of a vehicle. While some may only cover small repairs, others may cover extensive repairs. When someone purchases a service contract, it’s important to understand the inclusions and exclusions fully. This will allow the car owner to avoid a problem down the road. While some people consider the amount of coverage desired, others solely consider the price. Understanding these inclusions and exclusions will also allow the dealer to offer the amount of coverage that the person purchasing the car is looking for.
Know the Length of Coverage
One of the most important things to know about a service contract is the length of the coverage. The last thing a car owner wants is to think that they’re covered for a repair, only to realize that their coverage has expired. Before purchasing a service contract, the buyer should consider how long they plan on owning the vehicle. Buying a service contract that will last longer than that period will ensure that they always are able to receive assistance with the cost of the repair. It’s also a good idea to see if it is possible to transfer the contract when the vehicle is resold later on.
Perform Regularly Scheduled Maintenance
Companies that sell vehicle service contracts want to protect themselves, so there are often certain requirements that must be met in order to use the contract. This is because a vehicle that is neglected will likely have more problems than one that is well maintained. When someone purchases a service contract, they should know what the requirements of the contract are. This could include such tasks as regular oil and spark plug changes. They should also know where that work should be done as some companies will only allow work at certain facilities.
Keep All Service Records and Receipts
Whenever any maintenance tasks are completed on a vehicle, such as an oil change, the work should be recorded and the receipts kept. When the owner of a vehicle service contract looks to put the contract into use, the service contract provider may want to ensure that the vehicle has been properly maintained in accordance with the contract. This will ensure that the problem with the vehicle wasn’t due to negligence. Failure to provide this information to the company could result in claim denial. The ability to provide this information to the service contract provider will ensure that no claims are unexpectedly denied.
A vehicle service contract can be a very useful tool when the manufacturer’s warranty expires. This will help the vehicle owner with the cost of repairs, especially when those repairs come at unexpected times. These tips will help to avoid any problems that could arise when a service contract owner files a claim. Contact Freedom Warranty if you’re in search of the best vehicle service contract companies.