Embed construction in the Vehicle Service Contract

Aug 6th, 2022
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How to embed construction in the Vehicle Service Contract

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(upbeat music) - Did you know that a recent Assurant study revealed that 92% of the respondents knew of the vehicle service contract, but only 37% of them actually purchased one? My name is a Nick and Im a National Training Consultant with the Performance Institute at Assurant Global Automotive. You know what to do to get that 37% higher? Some dealers find it hard to convince potential service contract buyers to commit because they fail to engage them in illustrated dialogue. To convince customers for the need for the coverage, gaining agreement that factor warranties do expire, and breakdowns do occur, and repairs are expensive, especially with the technology in vehicles, is key to the presentation. At Assurant, we have helped thousands of financial services managers master this dialogue selling approach. Not only for its positive role in customer satisfaction and customer loyalty, but for its impact on dealership profitability. (upbeat music)

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.
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Vehicle Service Contracts (VSC) are like health insurance for your car. VSCs prevent drivers from paying out-of-pocket for costly electrical or mechanical repair expenses. They can be worked into auto financing as a small monthly amount so that drivers can transfer the financial risk of repair to another party.
An extended warranty or service contract on your vehicle pays the costs of some repairs, above what the manufacturers warranty covers or after the manufacturers warranty ends. Extended warranties and vehicle service contracts typically exclude routine maintenance such as oil changes and tire replacement.
A manufacturers warranty generally covers manufacturer defects or failures for a period of time after purchase and is automatically included when you purchase the vehicle. Extended warranties are an optional add-on product that covers defects or failures that are not covered by the manufacturers warranty.
Final take: An extended warranty is usually a good investment. A vehicle protection plan is an especially wise investment if your car has a reputation for expensive upkeep or below-average reliability. An extended car warranty can offer peace of mind and protect you from high repair bills.
Extended warranties are an optional add-on product that covers defects or failures that are not covered by the manufacturers warranty. Service contracts or prepaid maintenance plans are additional add-on products that cover regular maintenance or other service needs.

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