Two ServNet member auctions have implemented the Deal Shield buyback guarantee assurance product from Cox Automotive, and two more are set to utilize the program, as well.
That’s according to a news release from ServNet, which said BSC America’s Bel Air Auto Auction and Tallahassee Auto Auction have already begun using the DealShield program.
Up next are Missouri Auto Auction and Houston Auto Auction. DealShield’s parent company, Cox Automotive, is also the parent company of the Manheim auction chain.
“DealShield essentially protects a dealer's auction vehicle purchase, adding an extra level of protection against risk and market fluctuation,” BSC America president R. Charles Nichols said in the release. “We’ve implemented DealShield with excellent results at both Bel Air and Tallahassee Auto Auctions, and dealers have embraced it as yet another tool that gives them even more confidence in the vehicles they buy at our auctions,” he said.
The protection on the DealShield DS360 guarantee is good for 21 days and 360 miles.
ServNet president Kevin Brown, an owner/general manager at Missouri Auto Auction, said the group’s members are among the early crowd of independents to utilize DealShield.
“This move is a further indication that ServNet Auctions are constantly seeking and embracing ways to help its customers to purchase vehicles in our auction lanes with less risk and more flexibility,” Brown said. “DealShield essentially allows the dealer more control in the marketplace, giving the customer, rather than the market, the edge in the auction transaction.”