Tuesday, Sep. 04, 2012, 11:31 AM UPDATED 1:18 PMBy Auto Remarketing Staff
COLTON, Calif. -
A transferable auto warranty designed to protect dealer inventory was recently announced by ABS Auto Auctions.
The company launched its new Buyer Shield Limited Powertrain Warranty in early August, when the company began offering the warranty as standard equipment on most vehicles sold through its auctions.
ABS said Buyer Shield offers 90-day, 500-mile limited powertrain coverage for the dealer while a vehicle is in any dealer’s inventory, then transfers when the vehicle is wholesaled or retailed.
The warranty covers the engine and drive train of a vehicle, and is designed to protect the dealer from unforeseen repairs while the vehicle is in dealer inventory, the company said.
If the vehicle is wholesaled, the coverage passes on to the next purchasing dealer. If the vehicle is retailed within the 90-day, 500-mile dealer warranty period, the retail consumer automatically receives coverage for 90 days or 3,000 miles starting from the date of retail, at no additional cost, the company explained.
“Buyer Shield was created to increase the value of vehicles sold through our sales,” said president Tom Harmon. “The positive feedback from our dealers has been tremendous. They are finding that their wholesale profits are increasing because they are able to demand more money for the vehicle when they resell it.
“Dealers that are retailing these units are now able to offer rock-solid powertrain coverage to their consumers without additional cost, which is good for everybody,” Harmon said.
Buyer Shield comes standard with vehicles that pass the inspection criteria and that are under 175,000 miles, ABS Auto Auctions said. Claims are administered by First Extended, and repairs on covered claims can be performed by any service facility in the U.S. that employs ASE Certified technicians.
For more information about Buyer Shield, visit www.buyer-shield.com.