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LOVECARS

Lawgistics Warranty

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Hi all,

We currently run our own warranty by just indicating on the invoice what is covered which probably isn't the best thing to do. I have heard lots of praise about the Lawgistics warranty booklets which makes everything look abit more professional and will be great for up sale. Now the people who use it - how many months/mileage do you give? what claim limit do you set? and what do you sale it for? Just curious to know what other people charge for there 'own' warranty packages whether its Lawgistics or someone different. Thanks

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A1 Approved, Nic is the man in the know. Best option, books are free and you can upsell. they deal with any issues and keep you informed, We stick £100 - £125 a car in the account every sale. £25 is the admin fee the rest tops up the fund. @Rory RSC pointed me to these guys, cant recommend enough

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Hi @LOVECARS thank you for the mention. If you email me direct lawjaw@lawgistics.co.uk I will get you out a sample booklet.

In answer to your question, many of our dealers include the basic driver cover for 3 months on every vehicle at screen price, setting the claims limit quite low (i.e.£250 - £300). This is to help set expectations and create an opportunity to sell a better level of cover.

They then explain to their customer that the driver plus cover is much more comprehensive and comes with a larger claims limit (i.e. £500-£1000) and it includes the cam belt and a lot of the electrics. They offer an upgrade to driver plus for the first six months for a reasonable amount (i.e. only£50 - £75).

They also explain that driver optional cover would cover the turbo, ABS, air con and cat, and would normally cost £25 for the first six months.

The dealer then explains that if the customer decides to upgrade today they will include driver optional cover within the driver plus upgrade!

Therefore the customer gets 'TOP LEVEL COVER' for the first six months with a better claims limit for a very reasonable price.

This is a very popular way of using our Driver Warranty Booklets helping create more revenue BUT they have been designed to be flexible, creating many different ways of using them to market your stock and manage any warranty issues.

I hope this helps... good luck with what ever you choose. One thing is for sure, once you have run your own warranties successfully you will never go back to insurance warranties. 

 

 

Edited by LawJaw

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Sorry my statement has raised your temperature and forgive me for being presumptuous BUT I guess running your own warranties did NOT work out for you.

If so your statement 'That's total b*ll*cks' is incorrect...

I said, "once you have run your own warranties successfully you will never go back to insurance warranties".

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We got fed up with warranty companies bad service to our customers years ago.You can do your own,but unless the rules have changed,you cannot call it a warranty unless it is underwritten.These days,I doubt you can do it successfully without having your own workshop.There is a lot you need to know but it has definitely worked for us.There are good spin offs,it promotes customer loyalty and servicing and repair work..........one thing...Love Cars ?..proper car dealers do not love cars ! anyone disagree.

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1 hour ago, tradex said:

"One thing is for sure, once you have run your own warranties successfully you will never go back to insurance warranties."

That's total b*ll*cks.

We did and now we don't.

Sorry for being so harsh but your statement really boiled my p*ss:angry:

Completely agree with Lawjaw on this one what didn't work about it for you?

 

My life is so much less stressful since using my own rather than dealing with warrantywise. Financially significantly better off.

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32 minutes ago, trade vet said:

We got fed up with warranty companies bad service to our customers years ago.You can do your own,but unless the rules have changed,you cannot call it a warranty unless it is underwritten.These days,I doubt you can do it successfully without having your own workshop.There is a lot you need to know but it has definitely worked for us.There are good spin offs,it promotes customer loyalty and servicing and repair work..........one thing...Love Cars ?..proper car dealers do not love cars ! anyone disagree.

true, im at the stage i cant even watch top gear or whatever they call it now

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Another vote for self warranty, we use A1 Approved Warranties (note the subtle difference to Betginge's supplier who we used to use but now don't for very good reasons, PM me if you're nosy). 3 months and £300-500 claim limit depending on the car included in the screen price. Costs £124 per car with £100 going in to the pot and just £24 to administer the claim should it happen. After 3 months A1 offer to sell the client the remainder to make it a 12 month overall but as the contract is with them it takes the heat off you standing by the car for 12 months because "you sold me the warranty".

The pot is then yours to be flexible on should you have a screamer after a short period, stops the temptation of dipping into it when you see a bargain at auction too!

Mark is the man at A1 give me a shout if you want his number, all stationary is free too.

 

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I use Lawgistics for my 3 Month Warranties, I think they cost me around £16 each for a 3 month glossy brochure and they administer it, I give a £350 claim limit. To be honest, i've not had the greatest experience with the admin side of it, as they basically send you an email telling you theres a claim. Thats it. They haven't told the customer that its valid or not and us and the customers have had to chase for repair estimates etc.. so i've ended up taking on the problem / repair myself as I didn't want the grief. I've also had 3 claims that were made ages ago and then i've heard nothing since, no accept or reject just nothing.... I used to self warrant for 3 months and then up sell 12 months with them, but now I offer a 12 month warranty with Warranty Assist if the customer wants to extend from my 3 month inclusive. Takes it away from us as the dealer if theres a problem and also earns us a few £ in the process too.

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