8:02 am, September 2, 2024
In the high-pressure world of sourcing used stock, every purchase carries risk.
A recent Carwow survey revealed a startling truth: 96% of dealers have bought cars that later required major repairs, and it typically affects 20% of sourced stock.
Enter Carwow BuySafe – a game-changing service that’s rewriting the rules of dealer stock acquisition from online auctions.
For just £59 per vehicle, dealers can now safeguard their Carwow auction purchases with repair costs covered up to the value of £7,500.
This small fee buys unrivalled peace of mind, protecting against undisclosed major faults across 3,000 mechanical and electrical parts, including all internal engine and gearbox components.
But does it deliver? Let’s look at two real-world examples:
Case study 1: The gearbox gamble
A dealer group representing more than 30 brands with a central buying team purchased a car from Carwow’s auction.
Post-purchase, a hidden gearbox issue emerged, threatening a £1,500 repair bill, but thanks to Carwow BuySafe, this potential profit eraser was fully covered, including labour costs.
The group logged a claim with a receipt for the repair work and had the money in its bank account within 48 hours. The dealer’s bottom line remained intact and customer satisfaction was uncompromised.
Case study 2: The infotainment incident
Another dealer group, this time representing 10 prestigious brands, encountered an unforeseen problem: a faulty infotainment system with a £1,600 replacement cost.
Once again, Carwow BuySafe stepped in, covering the entire expense and preserving the dealer’s profit margin, with the money paid back into their account within 48 hours upon receiving the repair receipt.
What sets Carwow Buysafe apart?
Comprehensive coverage: From engines to electronics, BuySafe protects against a vast array of potential issues.
Quick payouts: Claims are processed swiftly, with payouts within 48 hours of invoice receipt.
Multiple repair coverage: One claim can cover various repairs, maximising protection.
Affordable peace of mind: At just £59 per vehicle, the cost-to-benefit ratio is unmatched.
In a market where one in five auction purchases might hide costly surprises, Carwow BuySafe offers a robust shield against unforeseen expenses.
It’s not just protection; it’s a strategic tool for maintaining profitability and customer experience.
As a £59 investment that can potentially save thousands in an industry where margins can be tight and competition fierce, it’s a small price to pay for the confidence to bid boldly and buy confidently.
By eliminating the worry of hidden repair costs, dealers can approach each sale knowing their investments are secure.
But despite being first to market with this innovative scheme, we didn’t stop there.
While Carwow BuySafe protects dealers against financial loss when using their own transport methods, our newly launched service Carwow Collects ensures dealers are protected when using Carwow’s transport service, too.
So, no matter how you choose to transport your auction wins, you’re in safe hands.
Undisclosed or unidentified repairs are never ideal, but they’re part of the job when sourcing stock, no matter where it’s acquired from.
Dealers using Carwow BuySafe and Carwow Collects have the reassurance and peace of mind that if something does go wrong, we’ll put it right.
Dealers have now bought more than 160,000 vehicles from Carwow auctions worth a combined £3bn.
You can learn more about Carwow BuySafe here and Carwow Collects here.
