10:04 am, March 14, 2024
Carwow has announced a new initiative which aims to safeguard car dealers against buying faulty vehicles in its online auctions.
The firm has partnered with Warranty Solutions Group (WSG) to launch ‘BuySafe’ – an industry first aimed at protecting retailers against ‘undisclosed mechanical and electrical failures’.
Bosses say the programme, which will cost £59 plus VAT per vehicle, has been designed specifically to help with the most problematic issues, which are tough to spot on inspection.
It will ensure that dealers will be safeguarded against most major mechanical failures on eligible cars purchased through Carwow auctions.
Around 3,000 different parts are covered by the plan, including issues with the engine, gearbox, alternator, differential, infotainment, lighting units and supercharger.
The £59 fee also includes any labour costs associated with putting things right.
Sally Foote, Carwow’s chief commercial officer – Sell My Car, said: ‘BuySafe is game-changing for our dealer partners.
‘Our aim is to build the most transparent and trusted online auction platform for the motor trade. We recognised that buying directly from a consumer via auction might be seen by some dealers as potentially risky.
‘That’s why BuySafe has been created – to give dealers assurance that they won’t face a hefty repair bill should something go wrong mechanically or electrically. Our dealers can now bid with total confidence.’
BuySafe is launching following a successful pilot and eligible dealer partners can now sign up for the waiting list.
The experts behind the offering say it will be a ‘trailblazing initiative’ with the potential to ‘transform the online vehicle auction industry’.
John Colinswood, CEO of Warranty Solutions Group, added: ‘We are delighted to partner with Carwow to bring BuySafe to market, which has been specifically designed to safeguard against some of the biggest and most problematic vehicle issues reported by dealers after purchase.
‘We firmly believe this trailblazing initiative will transform the online vehicle auction industry.’
