3 Reasons to Offer a Preloaded Lifetime Powertrain Warranty, Even on Orders
With the chip shortage still lingering, dealerships nationwide are working more deals than ever on factory orders due to low inventory. Customers are giving up trying to find the car they want and are putting in orders knowing it will take time for them to arrive.
How does a dealer better compete with others in the market for that order? Offer something special with every order YOUR store fulfills.
Lifetime Powertrain Warranties are a great way to set your dealership apart…here’s why:
- More Value - If your local shoppers know that all new vehicles offer a Lifetime Powertrain Warranty regardless of model, you present a stronger value proposition right from the start. You send the message that every customer should have that protection against major engine or transmission failure, no matter the price of the vehicle
- Better Service Relationship - When you offer a LPW on every vehicle, your customers must come back to your dealership for repairs. This creates a strong relationship between them and the Service team for years to come. And they are more likely to come to the dealership for basic maintenance as a result.
- Repeat Customer - When your customers have to come back to you for major repairs they are more likely to be repeat car buyers. It’s all about creating a ‘sticky’ relationship, one where customers always associate your store with all of their car needs, even as they consider a new purchase.
Lifetime Powertrain Warranties should never be too cost prohibitive. Price it reasonably and preload it so customers know it comes with the car, even if it’s ordered. Show your local shoppers why buying (and ordering) from your dealership offers more long term value than anyone else.
Presenting any aftermarket products and protection in F&I is already tough enough but when you are trying to help keep a preloaded ancillary package in the deal, it can be a real headache. Buyers don’t always see the value of a well-priced package designed to help save their vehicle from cosmetic issues.
Preloading ancillary bundles is an easy way to add extra profits to the bottom line of F&I without adding to the menu presentation process.