F&I Management & Training

Warranties are becoming more important on older vehicles as the credit crunch leaves used car buyers at the lower end of the market feeling more vulnerable to unexpected bills. Ian Simpson, sales and marketing director at RAC Warranty said that dealers selling vehicles averaging more than five years old were finding demand for warranties increasing. He explained: "Buyers at this end of the market often have less flexibility in their personal finances than those spending more on a vehicle so, in many ways, a warranty is more important to them because they may not be able to afford an unexpected repair bill. "The credit crunch has emphasised this fact both because these buyers feel more vulnerable and also, in some cases, because their personal finances have actually deteriorated." (RAC Warranty)

DATED: 08.07.08

FEED: AW