Notifications & Messages

Jared Hamilton
From: Jared Hamilton
Hey - It’s time to join the thousands of other dealer professionals on DrivingSales. Create an account so you can get full access to the articles, discussions and people that are shaping the future of the automotive industry.
×
Bryant Gibby

Bryant Gibby Used car manager

Exclusive Blog Posts

Ecommerce and Auto dealers

Ecommerce and Auto dealers

Many of the ecommerce sites are now a days trying to test the waters of entering into the automobile sector by trying to engage customers on a small scale …

Closing Out Your Phone Call Properly

Closing Out Your Phone Call Properly

Closure - An Important Step One of the most commonly skipped steps during a sales call is Closure. During Closure we should be giving the customer …

Take me off the List!

Take me off the List!

      The last thing a dealer wants to hear is “take me off of your marketing list.” Each and every time you get th…

Using Vehicle Safety Features to Drive New and Used Car Sales

Using Vehicle Safety Features to Drive New and Used Car Sales

Selling a consumer a large ticket item like a car, truck, or SUV comes with a degree of understandable skepticism for the buyer. Consider the importanc…

Why Branding Your Price is a Great Idea!

Why Branding Your Price is a Great Idea!

If you’ve been reading my pieces for the last few months, you’ve probably noticed how passionate I am about branding. By branding every aspect of your …

Refundable extended warranties

     We have been with a company for many years that has offered a program to make our extended service contracts refundable in the event the customer doesn't make a claim against the warranty. It has been a great program for many years and has helped us to sell extended warranties at a pretty high level. Unfortunately, this company has now lost its backing and is closing up shop.

                                  

     The reason for my post is two-fold. 1- I want to know if there is any other company out there that offers a product to make service contracts refundable. They need to be a reputable, well-established company in order for us to consider them for the fact that we don't want to deal with this again.  We have done a little bit of research on our end and couldn't really find any company that seemed like a good candidate. 2- I want to know if the majority of the dealerships out there use such a product and offer refundable warranties. We have been selling our warranties that way the entire 9 years I have worked at this store. When I did finance, the main part of my warranty pitch was explaining how great the refundability was and I think it really helped me be successful as a finance manager. I couldn't imagine selling warranties and never being able to make them refundable at the end of the term.

 

     Let me know what you guys think. We would love to get signed up with a comparable company so we can sell warranties the way we know how. Otherwise, we may have to change our warranty pitch and re-train our finance department. Any input would be great.

Jim Bell
We do the same thing, but we self insure all of our policies. You may want to check with American Financial. Their home office is in League City, TX. I know that they did a while back when I dealt with them at the last store I was at and had great success with them. They are a top notch company and would recommend them highly.
Bryant Gibby
Thanks for the recommendation Jim. I will definitely look into them!

 Unlock all of the community & features  Join Now