Data shows that 6 out of 10 drivers would take out an extended warranty. The new research for the RAC Dealer Network also shows that buyers are keen to buy at the point of purchasing their vehicle.
The survey was carried out by Harris Interactive for Assurant which is partners with RAC in the warranty and aftersales sector. Over 1,000 respondents showed that 59% of drivers would take out a longer or more comprehensive warranty with their next car.
The research also found out that an extended warranty came top of the list of 8 products that might be offered with a car by a dealer and that a consumer might “seriously consider”.
Kellie Grocott, RAC Director of Sales at Assurant, said: “These findings reveal two very important facts – that there is a high level of interest among consumers in buying an extended warranty, and that propensity to buy appears to be higher at the point of purchase.”
“Really, this underlines how a properly structured warranty programme is something that car buyers want from their supplying dealers, and also the huge potential for tapping into additional revenue streams that exist for dealers by meeting this demand. Dealers who aren’t taking warranties seriously are missing out on this significant opportunity.”
The supply of new and used car extended warranty has been around since the late 1980's. An extended warranty can give you peace of mind if are buying a car that’s a few years old. With our Dealer Partners, we adopt a hands on and flexible approach to developing our partnerships ensuring we integrate with their existing processes.