WILKES-BARRE, Penn. –GWC Warranty announced the launch of significant updates to their core vehicle service contract offering that allows dealers to provide even better levels of coverage and more options for consumers. These enhancements to the already expansive vehicle service contract product were developed based on market feedback and industry trends, improving GWC's ability to serve the needs of dealers of every size.
By providing the right F&I products for inventory they have on their lot, GWC can help dealers drive the results they need from their used-car operation.
With this expansion, GWC is even better positioned to help dealers drive results by offering the right F&I solutions to cover more of their inventory as well as the different needs of their customers. Dealers can now provide service contracts for older models on their lot, with new coverage options for vehicles up to twenty years old. GWC is also introducing coverage for over 120 previously excluded hi-line vehicles. Recognizing a growing need in the industry, coverage is now available for vehicles used for commercial purposes, giving drivers entering the rideshare and delivery market the chance to protect their investment and their livelihood.
"Dealers are facing an increased need to optimize every opportunity. By providing the right F&I products for inventory they have on their lot, GWC can help dealers drive the results they need from their used-car operation," says Matt McKenna, Senior Vice President of GWC Warranty & APCO. "With this product expansion, we're giving dealers more options than ever before to optimize F&I sales to increase total revenue and overall profitability while raising the level of protection they can offer their consumers."
Other significant changes in this update are designed to help dealers provide a better experience for drivers and avoid post-sale dissatisfaction, including improved driver benefits like rental car or substitute transportation coverage, roadside assistance, and trip interruption protection. GWC is also introducing new deductible options to give drivers more flexibility over what they'll have to pay out of pocket, including a disappearing deductible option for dealers with a service bay that encourages customers to return for maintenance and repairs. Dealers can also offer buyers contracts with an "any time, any reason" cancellation policy.
"We took dealer feedback very seriously when developing these changes," says McKenna. "Dealers want flexibility in both terms and conditions in their vehicle service contract offerings. We're introducing hundreds of new term and mileage combinations, including even more competitive rates and term options for vehicles that still have a basic manufacturer's warranty remaining. And, as part of our goal to protect our contract holders from out-of-pocket repair costs, we're now offering coverage on sales tax for diagnostics, labor, and parts for eligible repairs."
With the automotive landscape continually evolving, this product enhancement and expansion demonstrates GWC's commitment to providing F&I products that meet the needs of both their partners and their consumers.
