Afternoon gents
As you all know Porsche warranties have stopped for people who who wish to buy them upon purchase of a used Porsche from a source other than a main dealer as effect of October 1st 2008.
We had encouraged this facility to our customers for the last 3 years.
Upon hearing of this news on August 1st 2008 i have spent the last 2 months analysing our options.
There are basically 2.
The easy way out,sell 3rd party warranties that no-one ever trusts and the retailer will only ever find out if its any good when a customer makes a claim.
The other is have your own in house warranty which takes real balls to do hence hardly anyone does it.Only Malton currently do as far as i know.
After speaking to 2 major players in 3rd party warranty schemes i have come away feeling unsure if i can trust what it says on the label.
We have come so far in the Porsche business and now have a terrific team here now in service with over 45 years of main dealer experience going back to 1988 when the 964 came out and i feel we need to take the strongest advantage of that.
Wanting a foolproof system where we can control how our customers are treated and not having to go through 3rd party call centres and dealing with us directly has lead me to believe that the best schems for our customers is an in house warranty from us.
Even if there is a good warranty company out there we will never be sure if it is or not till i might be too late and have disgruntled customers.
I cant afford for that to happen.
As of today therefore we will be offering our own in house warranty.
It was one of the first thought that came into my mind when Porsche announced that they are changing their terms.
Its taken 2 months to take the step,its slightly scary to be honest but i with 11 years of selling them and having only 2 engine failures and 1 gearbox,i am very very confident with our buying criteria and confident of a successful process for company and customers alike.
The warranty will be designed to give the customer complete peace of mind on the engine and gearbox which is everyones main concern.
There is other cover of course but i just want to outline that for now.
It is designed to be comprehensive and include things that should not go wrong.
Unlike all 3rd party warranties there will not be exclusions to get out of every claim by citing WEAR & TEAR.
Everything stops working because of wear & tear.
If there wasnt wear & tear nothing would break down.
Part of my reasoning behind this decision is to install major confidence in the buyers mind that a company will only give an in house warranty if it is confident in what it has sold which i have been with every car we have ever bought or sold and will do in the future.
We expect sales to increase to be honest and at the same time make a stronger position for ourself in the market by being seen as a company willing to put its money where its mouth is.
There will not be a claims limit.A customer shouldnt have to pay for part of a valid claim.
We are aiming to have a better warranty than others.Shouldnt be hard i suspect.
For the record,i have taken inspiration from Specialist Cars of Malton.
It isnt fully finalised but nearly there.
It will include all high value components that should not go wrong.
It wont be quite as extensive as the new Porsche warranty in terms of cover that wants to do bumper to bumper.£1500 is more than most will pay.
Obviously rev range abuse or oil starvation by inappropriate maintenance by the customer and other self inflicted problems will be exclusions but there wont be wear & tear get out clauses as other warranties have.
It will specifically state all covered items.
It will in effect be a maintenance plan but the customer doesnt pay for any labour or any parts.This will only be available to people who buy cars from us.
We are pricing at £1000
I feel its a fair price.
Our customers have been paying OPC £1150 a year for the last 3 years.
Which is now not available.
This as you all know is £1450 a year now.
We acknowledge that there will some customers that are too far away.
For any major issue like engine and gearbox it would have to come back to us.
I think the AA can do us a deal at about £50 a year for our customers.
For any minor things which are covered,we will have a list of accepted independent Porsche specialists we respect and trust dotted around the country we are happy to pay for work done,if the customer cant come to us and its agreed by us.
I have thought long and hard about this and we are happy to stand by our cars.
Joel
As you all know Porsche warranties have stopped for people who who wish to buy them upon purchase of a used Porsche from a source other than a main dealer as effect of October 1st 2008.
We had encouraged this facility to our customers for the last 3 years.
Upon hearing of this news on August 1st 2008 i have spent the last 2 months analysing our options.
There are basically 2.
The easy way out,sell 3rd party warranties that no-one ever trusts and the retailer will only ever find out if its any good when a customer makes a claim.
The other is have your own in house warranty which takes real balls to do hence hardly anyone does it.Only Malton currently do as far as i know.
After speaking to 2 major players in 3rd party warranty schemes i have come away feeling unsure if i can trust what it says on the label.
We have come so far in the Porsche business and now have a terrific team here now in service with over 45 years of main dealer experience going back to 1988 when the 964 came out and i feel we need to take the strongest advantage of that.
Wanting a foolproof system where we can control how our customers are treated and not having to go through 3rd party call centres and dealing with us directly has lead me to believe that the best schems for our customers is an in house warranty from us.
Even if there is a good warranty company out there we will never be sure if it is or not till i might be too late and have disgruntled customers.
I cant afford for that to happen.
As of today therefore we will be offering our own in house warranty.
It was one of the first thought that came into my mind when Porsche announced that they are changing their terms.
Its taken 2 months to take the step,its slightly scary to be honest but i with 11 years of selling them and having only 2 engine failures and 1 gearbox,i am very very confident with our buying criteria and confident of a successful process for company and customers alike.
The warranty will be designed to give the customer complete peace of mind on the engine and gearbox which is everyones main concern.
There is other cover of course but i just want to outline that for now.
It is designed to be comprehensive and include things that should not go wrong.
Unlike all 3rd party warranties there will not be exclusions to get out of every claim by citing WEAR & TEAR.
Everything stops working because of wear & tear.
If there wasnt wear & tear nothing would break down.
Part of my reasoning behind this decision is to install major confidence in the buyers mind that a company will only give an in house warranty if it is confident in what it has sold which i have been with every car we have ever bought or sold and will do in the future.
We expect sales to increase to be honest and at the same time make a stronger position for ourself in the market by being seen as a company willing to put its money where its mouth is.
There will not be a claims limit.A customer shouldnt have to pay for part of a valid claim.
We are aiming to have a better warranty than others.Shouldnt be hard i suspect.
For the record,i have taken inspiration from Specialist Cars of Malton.
It isnt fully finalised but nearly there.
It will include all high value components that should not go wrong.
It wont be quite as extensive as the new Porsche warranty in terms of cover that wants to do bumper to bumper.£1500 is more than most will pay.
Obviously rev range abuse or oil starvation by inappropriate maintenance by the customer and other self inflicted problems will be exclusions but there wont be wear & tear get out clauses as other warranties have.
It will specifically state all covered items.
It will in effect be a maintenance plan but the customer doesnt pay for any labour or any parts.This will only be available to people who buy cars from us.
We are pricing at £1000
I feel its a fair price.
Our customers have been paying OPC £1150 a year for the last 3 years.
Which is now not available.
This as you all know is £1450 a year now.
We acknowledge that there will some customers that are too far away.
For any major issue like engine and gearbox it would have to come back to us.
I think the AA can do us a deal at about £50 a year for our customers.
For any minor things which are covered,we will have a list of accepted independent Porsche specialists we respect and trust dotted around the country we are happy to pay for work done,if the customer cant come to us and its agreed by us.
I have thought long and hard about this and we are happy to stand by our cars.
Joel