Why It’s Time to Consider a Switch to truLifetime Powertrain Warranty
Making your new or used car customer happy ‘for life’ starts with a preloaded and strong Lifetime Powertrain Warranty. Bet you can’t think of one customer that would have said ‘No’ to having that powertrain protection already in place?
We’ve written a lot about the obvious benefits to having every car, new and used, have a preloaded and private labeled LPW. Increased sales, better customer CSI and retention, helps upsells to higher VSCs, and better overall trust in your dealership.
But what sets the truLifetime protection plan? What are the best practices we’ve seen from Top-20 dealers groups across the country who have implemented it with amazing success?
Here is what your store needs to know about how truLifetime, powered by truWarranty, helps your dealership be more profitable now, not later:
- Several Top 20 dealer groups have reported a $697 PVR lift per unit when a LPW is preloaded on every vehicle. That happens through easy upselling to a standard VSC for deeper component coverage.
Once you start describing ALL the other parts that may need to be replaced, it becomes easier to say ‘Yes’. Adding PrePaid Maintenance becomes easy, too, when talking about the importance of taking care of the car to reduce the incidents of major component failure.
- 10 year roadside assistance standard helps give your customers the peace of mind to take that long trip without the fear they will be left without help in an isolated or dangerous situation.
- Ability to offer a favorable deductible to encourage customers to come to YOUR service drive to have the repairs completed. $100 deductible for repairs with your shop and yet still able to offer a $500 deductible if they choose a shop of their own (payable through a virtual credit card).
- Warranty coverage begins on the date of purchase. No wait, no worry for your customer. Immediate coverage for the life of the powertrain.
- truLifetime is non-transferable and non-cancelable. This helps create the ‘sticky’ relationship you want with every car buyer. They come to you for all repairs and they know it will be covered under upfront and transparent terms…no need to be without it.
- Becomes the cornerstone of any CPO program you offer. 80% of CPO buyers are there BECAUSE of the deeper warranty coverage…this gives them what they want to help them save money in the future and helps them feel confident the car has been properly inspected and protected.
- truLifetime helps your inventory turn as a preload for your CPO program. It’s common knowledge that CPO vehicles turn drops to 27 days versus NCPO averages of 55 days on the lot. A strong LPW helps keep that turn low and keeps customers coming back again and again for their next vehicles.
- Gain local market share with private labeling your preloaded truLifetime coverage. We offer online sales training for your staff to help them best represent the value of LPW protection and have a full suite of marketing collateral that makes it crystal clear to your in-person and online customers that you offer a next-level LPW.
Web collateral, brochures, window clings, FTC Buyer Guides, posters for the showroom, windshield banners and more are here to help your sales and marketing team show the community how invested you are in making sure that every car that leaves your lot has this protection ‘built in’.
Got questions? Ready to compare your existing LPW plan to ours? We’re here to help you make the best decision possible. Reach out to us here and we’ll be happy to demo just how easy it is to switch to truWarranty and show you how much profit you’re leaving on the table right now.
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