Tips To Avoid Issues With Your Vehicle Service Contract

By: Jeff Hatch

September 25, 2018

A vehicle service contract (VSC) is a smart choice for customers interested in protecting themselves from the high costs of vehicle repair. You just need to make sure you know what you’re getting and what to expect in the event that the unexpected happens. Prior to purchasing or filing a claim, here are a few things to consider to ensure that there are no surprises down the road.

  • Make Sure You Aren’t Currently Under Warranty – Check to see whether the coverage of your service contract overlaps with a manufacturer’s warranty. A vehicle service contract might not be right for you if you are already covered. However, if your warranty is about to expire or you are looking for supplemental coverage then purchasing a VSC makes a lot of sense.  

  • Know What Your Vehicle Service Contract Covers – Not all vehicle service contracts cover all repairs. Take time to read the inclusions and exclusions to be sure that you’re getting the coverage you want and know when coverage might be denied. For instance, if a contract states that only mechanical breakdowns will be covered, problems caused by normal wear and tear might be excluded.

  • Be Aware Of The Length Of Your Coverage – It happens to the best of us. You think you’re covered, only to find out that your plan has already expired. Make sure your coverage is up to date. And if the service contract lasts longer than you expect to own the car, find out if it can be transferred when you sell the vehicle.

  • Perform Regularly Scheduled Maintenance – Under the contract, you may have to follow all recommendations for routine maintenance, such as oil and spark plug changes. Failure to do so could void the contract. Find out if the contract prohibits you from performing routine maintenance yourself or from taking the car to an independent dealer for work. Also, be aware that unapproved modifications or installing wrong parts could void your service contract as well.

  • Keep All Service Records And Receipts – Create a file to keep track of all the repairs that were performed on your vehicle and be sure to include all receipts. This will come in handy if you ever have to put your vehicle service contract to use. Your claim could be denied if you are unable to show that the vehicle was properly maintained.

Have questions about one of our vehicle service contracts? Don’t hesitate to contact us. Visit warrantech.com, call 800.833.8801 or send us an email at info@warrantech.com. We’re happy to help!

Filed Under: contract, coverage, maintenance, repair, service, vehicle, Warrantech

Krietz Auto named NIADA CPO Dealer of the Year

By: Jeff Hatch

June 25, 2018

The following is an article by the Auto Remarketing Staff, which appeared on June 22, 2018, at autoremarketing.com. The full article can be found here: http://bit.ly/2Ish7EP

Award Recognizes Maryland Dealership’s Rapid Rise to Certified Pre-Owned Success

Krietz Auto, a dealership in Frederick, Md., run by Charlie and Kim Krietz and their sons, Charles and Cory, became the second winner in the award’s three-year history after Todd Hoagey of Auction Direct USA claimed the first two honors.

The award recognizes the quality of dealership operations, the vehicle certification process, the number of CPO vehicles sold and the dealer’s commitment to providing a better product and level of service to his customers and the community.

In accepting the award, Charlie Krietz, who founded Krietz Auto as an auto repair shop 35 years ago, choked up with emotion as he recalled his journey to success.

“The dream I had, the vision, going through the recession and the hardships we went through with the family ... to be here today, among a lot of great people, is incredible,” he said. “We’ve had a lot of help. ... but our hunger and desire to survive, the passion – it was there.”

When he had to pause to compose himself, Krietz apologized. “I’m a little passionate,” he explained.

While Krietz Auto has been in business 35 years and was Maryland’s nominee for the 2017 National Quality Dealer award, it was only a year and a half ago that Charles Krietz met with Mike Sims of NIADA CPO administrator Warrantech to discuss getting involved in the program.

“I got with my family and said, ‘I met a really good guy today, and I think this is going to be a really good thing for us,’" Charles Kreitz recalled. “Fast forward a year, and we’re standing here getting this award.”

Now Krietz Auto is among the top operations in NIADA CPO sales, at about 180 CPO units per month. The Krietzes certify 100 percent of their qualifying vehicle inventory and have made major investments in training their 50-member staff in CPO sales, marketing, digital merchandising and reward/recognition incentive programs.

As a result, the dealership has doubled its F&I gross margin per unit since launching CPO program.

Krietz Auto is also very involved in its community as a major contributor to local organizations and programs such as 4H scholarships, Toys for Tots and youth sports teams.

Charles Krietz invited his fellow independent dealers to get in on the CPO action.

“Hopefully, all you guys can learn all about the program,” he said. “It’s a really great program. Look into it — you’re not going to go wrong.”

Filed Under: Auto, award, certified, CPO, Krietz, NIADA, pre-owned, vehicle, Warrantech

Tips For Choosing The Vehicle Service Contract That’s Right For You

By: Jeff Hatch

April 11, 2018

So you are finally purchasing that vehicle you’ve always wanted and are overcome with an enormous sense of bliss. Your first thought is to fill out the paperwork as fast as possible so that you can grab the keys, hit the road and show your new car off to all your friends. However, as thrilling as ownership can be, you still have some important decisions to make. 

Do you have enough money to take care of it? What happens if something goes wrong? This is a major purchase and it would be a huge mistake for you to get caught up in the excitement without taking some time to think about what you will do once the inevitable happens and your car needs service. 

That’s where a vehicle service contract (VSC) can help – by alleviating the maintenance and repair costs that come with owning a car, truck or SUV. So which VSC do you choose? Here are a few things to consider, so that you can take care of business and get back to enjoying your new ride.   

How Long Do You Plan On Owning Your Vehicle?

If you only intend on having the car for a few years, a long-term contract probably isn’t on your radar. However, if you plan on driving your vehicle for a long time then you definitely want a VSC. It’s a great complement to an older vehicle that’s no longer under warranty. 

What Does The Plan Include?

Not all people share the same driving habits, so you’ll want a plan that is tailored to the way you drive and the type of vehicle you have. Make sure you know what the plan covers, and be sure to consider the number of miles and length of coverage. Also be aware of the deductible to determine if it fits within your budget.  

Are You Focusing Too Much On Price?

“You get what you pay for” is a good rule of thumb, and a cheaper contract usually comes with a higher deductible. The price might look good on paper, but if the VSC doesn’t provide the coverage that you need, then it’s going to be worthless to you. 

Have You Read The Contract Carefully?

Don’t make assumptions. One of the biggest mistakes customers make is signing a service contract without getting the specific coverage they want. And the last place you want to be when you find out that you’re not covered for benefits such as roadside assistance is when your car breaks down and leaves you stranded in the middle of nowhere. 

Are You Rushing Through The Process?

Take your time. See something in the contract that you don’t understand? Get clarification and make sure that you are comfortable with what you’re signing. 

Did You Get All Of Your Questions Answered?

Be proactive. You definitely don’t want to be in a service center at a later date asking defensive questions like, “What do you mean that’s not covered?” Find out now. 

Have questions about one of our vehicle service contracts? Don’t hesitate to contact us. Visit warrantech.com, call 800.833.8801 or send us an email at info@warrantech.com. We’re happy to help! 

Filed Under: contract, customer, maintenance, plan, repair, service, tips, vehicle, VSC

The 3 C’s: Tips for Purchasing a Vehicle Service Contract

By: Jeff Hatch

January 04, 2018

Purchasing a vehicle service contract can be a confusing and intimidating process. There’s a lot to consider and, in some cases, a lot of money involved. That’s why we’re here to help take the guesswork out of the decision-making process and make sure you get exactly what you’re looking for. It’s easy. All you have to do is remember the three C’s of service contracts – cost, coverage and commitment.


Cost

First, you’ll want to determine if the car is worth the added investment. Do you plan on putting a lot of miles on it? Does the particular make and model have a history of needing frequent repairs? 

You’ll also want to keep in mind that just because a plan is cheaper, that doesn’t mean that it’s better. In some cases, a company might sell you a less expensive plan that doesn’t provide the same level of coverage. Look for a good service contract that can offer you exceptional long-term savings and value. A few things to consider in association with the cost of your plan include: 

24-hour technical assistance and access to qualified service professionals 

Value-added extras such as discounts on hotels and restaurants, rental car benefits, locksmith services and 24-hour roadside assistance 

Paying in advance could save you money later at the time of service 

In some cases, a service plan can pay for itself in just one repair


Coverage

Next, consider the vehicle type and the best type of coverage for it. For instance, if you have a vehicle that you intend to keep for long time, you’ll want a plan that takes high mileage into account. At the opposite end of that spectrum, if you simply want to protect your vehicle’s appearance, a supplementary protection plan is probably in your best interest. Warrantech has several options you can choose from that encompass a wide variety of services:

CustomEdge Plus – Provides you with the flexibility to pick your plan, length of coverage, miles of coverage and deductible

RepairMaster Service Drive – Complete coverage for cars, trucks and SUVs

MileEdge – Perfect for unpredictable, high-mileage vehicles, this plan covers costs associated with an automobile breakdown

SecureEdge – Covers costs to repair or replace any breakdown of parts, except engine, turbocharger/supercharger, transmission, transfer case and drive axle components

OwnerEdge – Offers powertrain vehicle protection

PowerEdge – For motorcycles, scooters, ATVs, snowmobiles and other recreational vehicles 

CampersEdge – For motorhomes, travel trailers, fifth wheels, pop-ups and slide-ins


Commitment

Finally, keep in mind that as the owner of the service contract, you are responsible for fulfilling the terms and conditions outlined within. As such, you’ll want to: 

Read the contract paperwork carefully and make sure you understand the coverages and exclusions

Follow all the manufacturer’s recommendations for routine maintenance. Failure to comply with these requirements could void the contract

Register your plan online if the provider has a website page that allows you to do so

Keep your contract paperwork, receipts, maintenance reports and contact numbers in a safe place where you can easily access them. This will make ownership and claim submission simple and easy

To learn more about our vehicle service contracts, visit warrantech.com 

Filed Under: commitment, contract, cost, coverage, service, vehicle, Warrantech

Why You Need A Vehicle Service Contract

By: Jeff Hatch

October 19, 2017

Contemplating a vehicle service contract, but unsure of how it works or how it differs from an automotive warranty? You’re not alone. A lot of consumers tend to get the two mixed up or fail to understand just what they cover. But seeing as how your vehicle is usually the second most important purchase you will make right after your home, it is in your best interest to do your homework and make sure that you are protected.    

What exactly is a vehicle service contract? 

It is an agreement to cover costs associated with repairs or services made to your vehicle. A manufacturer’s warranty, on the other hand, is a promise from the manufacturer to stand by their workmanship for a limited time after you purchase the vehicle. Once this warranty expires, a vehicle service contract becomes valid and provides you with much-needed coverage on your vehicle’s most important systems and components. 

Is a vehicle service contract right for you? 

Here are a few things to consider:

Keep in mind that the average hourly rate for a mechanic is $100 an hour. A vehicle service contract can help do away with this cost, save you money and keep you from paying any unforeseen and unexpected repair bills. 

If you plan on owning your car for an extended period, it’s definitely in your best interest. A vehicle service contract can keep your car running at its very best and on the road for a long time. 

Even if you don’t intend to keep your car for long, a service contract can increase your vehicle’s resale value once you decide to sell. But before you do, make sure that the service contract you’re purchasing is transferable.  

Do some research into the make and model of the vehicle you plan on purchasing. Is it likely to need repairs and, if so, what are the costs? Weigh this against the price of the service contract to determine if it is worth it to you.

Does the contract include extras such as discounts on hotels and restaurants, rental car benefits, locksmith services and 24-hour roadside assistance? Not only do these add to the value of the service contract, they can provide you with added peace of mind in the event that something goes wrong while you’re on the road and away from home. 

Take your driving habits into account. Will you be on the road a lot? Is there a lot of stop-and-go traffic? What are the road conditions like? Do you park outside where the weather is extreme? These can all have an adverse effect on your vehicle. 

Check the terms and conditions carefully. Make sure you know exactly what you’re getting and what is covered specifically. 

In addition to the type of coverage, be mindful of the length of coverage, miles of coverage and deductible. 

Research the company providing the service contract. Are they reputable? Some guidelines to help determine this might include checking their Better Business Bureau rating to see how they work with consumers and finding out what their A.M. Best rating is to verify financial strength and stability. 

Have questions about a specific vehicle service contract? 

Don’t hesitate to ask your salesperson or agent for more information. Most dealerships typically provide you with a brochure or direct you to a website so you can review the plan in its entirety. Take time to make sure that you fully understand the scope of the service contract and don’t get pressured into purchasing something that makes you feel uncomfortable. With so many options currently available, you are sure to find something that is satisfactory for your budget and your vehicle’s specific requirements.

Visit us online to learn more about our available vehicle service contracts or call 800.833.8801 to speak with a customer service representative. We’re happy to help.

Filed Under: contract, service, vehicle, Warrantech, warranty

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