CLEVELAND -- Platinum Warranty Corp. rolled out its 100-percent Money Back Guarantee program offering a full refund to consumers who do not incur any claims against their warranties. The new refund program begins immediately and applies to all warranties with a 48-month or greater term.

"This is a win/win situation for dealers, as well as their customers," said Anthony J. Hodel, Platinum's CEO. "This applies to customers who have purchased protection on a new car or a used one, as long as they still own the covered vehicle and did not use the warranty service during the terms of the plan."

Customers who purchase a warranty after March 1, can sign up to receive a full refund of their retail purchase price up to a maximum of $2,500 at the end of its term.

Platinum Warranty said this is an opportunity to offer dealers another tool that they can use to increase their F&I profits, while at the same time providing their customers with peace of mind when it comes to spending $1,000 or more on extended warranty coverage.

"This shows dealers that not only do we deliver a superior warranty product, but we are willing to back it up with a guarantee that can result in additional profits for them," Hodel said.