On Record with Greg Buckley. Greg discusses extended car warranties. You must educate your customer!
Watch Full Video Episode HERE
- Extended warranty- used car market has been hot over the last few years. People want a ‘protection’
- What types of companies underwrite policies?
- You must educate the customer on what they already purchased for their vehicle- most contracts are limited
- Ask for a copy of the contract, review it, look for ‘what’s not covered,’ and explain to customer. Additional testing time? Labor? Rust?
- “Do your own warranty” before you fall into the marketing funnel of extended warranties
- Are these customers one and done? Only repairing what is covered and not doing proper maintenance.
- Better margins with OE for warranty claims
- You must have oil change records- regular service receipts
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