Warranty specialists the WMS Group have announced the introduction of their interest-free and inflation-proofed service plans, to improve workshop absorption and dealer profitability.
In recent years, used car dealers have seen the gradual erosion of workshop activity and profit margins due to stiff competition in the marketplace, which has resulted in a lack of consumer loyalty across the board. The WMS Group’s new range of service plans have been designed to help combat these issues by securing repeat business for between one and six years at a time, whilst enabling the motorist to budget for their vehicle’s maintenance over a fixed-cost period of their choice.
Unique to the company, the WMS Group’s service plans are available for all used cars regardless of age or mileage. The plans offer great flexibility as they are driven by each vehicle’s specific requirements, supported by a complete range of showroom and point of sale materials, which are supplied free of charge to the dealership. All premiums will be collected direct from the consumer and then held in a secure ringfenced account, so dealerships do not need to handle any funds.
Personalised maintenance schedules and quotes can be generated and printed in seconds, powered by a bespoke IT platform encompassing market leading technology. Each service plan can be renewed on expiry and is even transferable to the customer’s new vehicle – and additional items not covered by routine servicing such as MOT’s, brake fluid changes and air conditioning regassing can also be included for a small extra cost. The dealership can access detailed management reports at any time, including a traffic light system which shows them at a glance the number of services booked in up to one month ahead.
WMS Group’s business development director Eric Stone commented: “Over the years we have seen many drivers being forced to scrimp on routine servicing and maintenance, simply because they cannot afford to have their vehicles repaired. This is not only a false economy, but also invalidates their warranty, therefore leaving them out of pocket. Our service plan is convenient and extremely flexible, so they can spread the cost over the life of their plan to avoid large periodic bills. It is also inflation proof, so costs remain fixed for the duration, and will help to ensure that the vehicle’s resale value remains protected. Selling just two of our service plans per week will generate over one hundred additional guaranteed services for the dealership next year, before taking into account any other repair work.”