This week, two providers of vehicle service contracts enhanced their relationships with finance companies that often cater to consumers who fall into the subprime credit space.
First, GWC Warranty, a provider of vehicle service contracts sold through dealers, announced a strategic alliance with Nicholas Financial, a provider of direct consumer loans and installment sales contracts.
Also, Westlake Financial Services revealed a new partnership with AUL Corp., a warranty and vehicle service contract administrator. Bringing nearly 30 years of experience, AUL will now provide back-end servicing in 19 states for Secure One, Westlake’s vehicle protection program.
Nicholas Financial operates a network of 63 locations in 18 states spanning the Southeast and Midwest. Nicholas, which was established in 1987, is one of the largest publicly traded specialty consumer finance companies in North America.
“GWC's partnership with Nicholas Financial is yet another example of our company’s commitment to delivering a best-in-class experience that helps dealer generate strong referrals and repeat buyers,” said Rob Glander, chief executive officer and president of GWC Warranty.
“By aligning with Nicholas, we now have a partner to help us in continuing to share the ‘No Worries, Just Drive’ experience we provide dealers and their customers nationwide,” Glander continued.
Glander insisted the strategic alliance will offer both dealers and consumers more convenient and seamless access to quality financing and best-in-class service contracts. Through its established and growing dealer network, Nicholas will now offer GWC vehicle service contracts, providing its dealers and their customers the confidence that comes along with GWC’s track record of paying more than $3.5 billion in claims to date as part of APCO Holdings.
“At Nicholas, we offer dealers the opportunity to increase sales and maximize profits through financing programs tailored to both the customer and the dealer,” said Nicholas president and CEO Doug Marohn.
“GWC, much like the team at Nicholas shares a passion for helping dealers create repeat sales. This customer-focused approach to vehicle service contract and claims administration made this partnership a natural fit,” Marohn went on to say.
A similar scenario unfolded for Westlake and its Secure One platform, which offers two vehicle protection coverages: Powertrain and Advantage.
Powertrain will cover the vehicle’s engine group, turbocharger/supercharger, transmission, transaxle, transfer case and drive axle group. With Advantage Coverage, the customer will receive all Powertrain Coverage, plus power steering, electrical and air conditioning.
Both coverage options are available on either a 12-month/12,000-mile or a 24-month/24,000-mile financed term. Additional product benefits include; $100 deductible, 24-hour roadside assistance, rental car and trip interruption.
“Our customers look for reliable vehicle protection options that allow them to drive every mile with confidence,” said Ralph Ontiveros, vice president of Westlake Services & Lending Solutions.
“Not only does AUL have a national network of repair facilities and industry-leading customer support, it also is backed by an ‘A’ rated underwriter, providing great benefits to our customers and peace of mind on the road,” Ontiveros continued.
AUL vice president of national accounts Bryan Nieves added, “We just celebrated the issuance of our 2 millionth policy, and we welcome new partners who share our customer-first philosophy. Westlake Financial’s sterling reputation and commitment to its customers’ well-being make them a natural fit for our back-end services. We look forward to honoring their reputation with best-in-class support.”
Westlake Financial Services is active in all 50 states plus Puerto Rico, with a dealer base of more than 30,000 franchise and independent dealerships. Dealerships interested in learning more about Westlake Financial Services are invited to contact Westlake directly at (888) 893-7937 or online at www.westlakefinancial.com.
Nicholas Financial operates a network of 63 branch offices in 18 states including Alabama, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Michigan, Missouri, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Wisconsin. The company originates direct contracts in Florida and North Carolina. More details can be found at nicholasfinancial.com.
For more information about GWC Warranty, visit www.GWCwarranty.com.
For more details about AUL’s offerings, visit www.aulcorp.com.