11:51 am, May 20, 2024
Warranty Solutions Group (WSG) says it is ‘super proud’ of its ‘industry first’ partnership which aims to protect dealers buying stock from Carwow.
Car Dealer reported earlier this year that the two firms had partnered up to launch ‘BuySafe’ in order to cover retailers against ‘undisclosed mechanical and electrical failures’.
The scheme is now up and running and bosses at WSG say they have been thrilled with the response.
Appearing on the latest episode of the Car Dealer Podcast, sponsored by JATO, the group’s commercial director Neil Monks, explained how the process works.
He said: ‘So basically a retailer will go on to the Carwow site and I think there is what they call a win file that when you purchase a vehicle, you put it into that bag and then you have the option if you like to have a warranty that will cover you certainly whilst you drive away and for the next five days.
‘That’s quite appealing because it gives you as the purchaser – the retailer – some peace of mind because you don’t know what those inherent faults could be.
‘It’s all a little bit scary and what you don’t want to do is to spend a fair amount of money putting it right so we created a warranty product for Carwow that covers over 3,000 parts.
‘It gives you a £7,500 claim limit and it’s only £59. Why would you do that?’
The programme has been designed specifically to help with the most problematic issues, which are tough to spot on inspection.
It helps to ensure that dealers are 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.
Monks added: ‘It is live. We launched that earlier this year and we’re seeing some huge appetite now.
‘Right away, it’s a broad church, shall I say? A broad church of retailers that purchase their vehicles through Carwow.
‘We’ve got the big, the small and everything in between and at the moment, all the reports are fantastic. It’s going very, very well.
‘We’re super proud of it.’
This week’s episode of the podcast saw the long-awaited return of Car Dealer founder, James Baggott, after an enforced absence due to surgery.
For listeners who are keen to hear about the medical ailments of the Car Dealer team, James was only too happy to speak at length about his operation!
Elsewhere, James and co-host Jon Reay discussed the biggest headlines from the last week in the motor trade.
Among the topics up for debate where the futures of CarShop and Cazoo as well as Stellantis’s plans to sell Chinese EVs in the UK.
A full list of the stories discussed can be found here:
- Exclusive: Sytner to axe CarShop used car supermarket name, rebrand some stores and sell others in huge shake-up
- Doncaster CarShop site earmarked for closure with more than 100 job losses under Sytner shake-up
- Used car dealer Big Motoring World linked to sale of CarShop sites
- Updated: Arnold Clark and WJ King deny talks of a deal after leaked memo suggested sale was coming
- Motors linked with deal for failed used car dealer Cazoo as firm sits on brink of collapse
- Stellantis outlines Leapmotor plans with two models set to arrive in Britain next year
- Car makers set to fall short of 22% EV target set out in ZEV mandate – SMMT
- Cargiant boss named Britain’s wealthiest car dealer as Sunday Times releases 2024 Rich List
You can listen to all episodes of the Car Dealer Podcast on Spotify, or wherever you get your podcasts.
