Thursday, Jul. 20, 2017, 03:22 PM UPDATED 3:26 PMBy BHPH Report Staff
TAMPA, Fla. -
Here’s another way to generate revenue at your buy-here, pay-here operation with the units that might have some of the highest odometer readings in your inventory.
First Choice Car Care recently announced its five-year, 100,000-mile vehicle service contract (VSC) plans for vehicles up to 20 model years old and already having up to 150,000 miles on their odometers.
First Choice Car Care highlighted that its service agreements appeal to buyers of older vehicles who desire investment protection at a reasonable cost, and it encourages dealers to retail units profitably they otherwise would wholesale for a loss.
“These plans help us sell an additional 50 to 75 high-mileage units a year, and because of their competitive pricing they also help me close more subprime deals,” said Angela Barrett, lead finance manager for Jenkins Nissan, Leesburg, Fla. The dealership retails about 150 new and used vehicles a month.
Barrett pointed out the plan costs give the dealership more wiggle room for trades. “That can make the difference for a prime deal because now we have a retail outlet for these cars. That makes us a reasonable front and back profit on units we’d otherwise have to wholesale at a loss.”
Part of the Consator Group of Companies, First Choice Car Care:
• Covers eligible vehicles 20 years and newer, having under 150,000 on the odometer when sold.
• Offers five years investment and budget protection
• Provides 50,000-, 75,000-, and 100,000-mile coverage options.
The First Choice Car Care VSC covers most domestic brands, including orphans, and most luxury and import models. For either vehicle class, consumers can choose either a basic plan for powertrain, turbo/supercharger and four wheel drive and all wheel drive transfer case components or the enhanced plan that also provides drive axle, A/C, electrical, and fuel system protection.
All programs include wear and coverage, towing, rental, roadside assistance, and trip interruption.
Coverages may be transferrable to a new owner should the original purchaser sell the covered vehicle.
The First Choice Vehicle Service Contract program is administered by Allegiance Administrators. First Choice Vehicle Service Contracts are backed by Assurant. With more than $30 billion in assets, Assurant is an A-Rated carrier with A.M. Best.