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SVTPerformance's Chain of Restaurants
Road Side Pub
Dealership Lifetime Power train Warranties
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<blockquote data-quote="13COBRA" data-source="post: 16281513" data-attributes="member: 138337"><p>I didn't mean the dealership as in the physical store that sells and fixes cars, I meant the dealership as their book of business within the reinsurance company.</p><p></p><p>If every single person was to effectively use the lifetime service contract, their book of business within the reinsurance company would be in the red, and they would have to pump money in to it to keep it afloat.</p><p></p><p></p><p></p><p>We sat down with our current company and also with Zurich. </p><p></p><p>Financially, we would make money doing it. From a purely moral standpoint, I <u><strong>NEVER</strong></u> want to be in the position to explain to a customer that their warranty is now void because 'paragraph c, subsection 5, bullet point 14, sentence 2'. It's not going to happen, period.</p><p></p><p>I'll gladly make LESS money to make MORE people happy.</p><p></p><p>You either sell reinsurance as a profession, or you've smelled the roses and can't take the glasses off. </p><p></p><p></p><p></p><p>Right, it's just the dealership (or customer, depending on how you look at it) paying a premium up front and it going in to a big pool. The goal is to make your pool bigger than your leaks (claims), so more water is going in, rather than coming out. Same for any type of insurance.</p><p></p><p>It is a gimmicky marketing technique, period. It's goal is to 'enroll' as many cars as possible, and pay out the least amount that it has to. Have you read through all the fine print on them? Do you suggest to consumers that they should maintain their vehicle up to 300% more often than the manufacturer states? If so, that's your business, not mine.</p><p></p><p>I am curious though. Whether you sell XXX cars a month, or X,XXX cars a month...the premium per vehicle (from what I've ever seen) stays the exact same. If there was a breaking point where the premium went down, the risk of more losses wouldn't make sense for their book of business within the reinsurance company.</p><p></p><p>No one is asking you to win a popularity contest, I could generally give 0 ****s less about it...All I'm saying is that I do not believe in lifetime service contracts and the stipulations that go with them, and view them as a great [gimmicky] sales tactic.</p></blockquote><p></p>
[QUOTE="13COBRA, post: 16281513, member: 138337"] I didn't mean the dealership as in the physical store that sells and fixes cars, I meant the dealership as their book of business within the reinsurance company. If every single person was to effectively use the lifetime service contract, their book of business within the reinsurance company would be in the red, and they would have to pump money in to it to keep it afloat. We sat down with our current company and also with Zurich. Financially, we would make money doing it. From a purely moral standpoint, I [U][b]NEVER[/b][/U] want to be in the position to explain to a customer that their warranty is now void because 'paragraph c, subsection 5, bullet point 14, sentence 2'. It's not going to happen, period. I'll gladly make LESS money to make MORE people happy. You either sell reinsurance as a profession, or you've smelled the roses and can't take the glasses off. Right, it's just the dealership (or customer, depending on how you look at it) paying a premium up front and it going in to a big pool. The goal is to make your pool bigger than your leaks (claims), so more water is going in, rather than coming out. Same for any type of insurance. It is a gimmicky marketing technique, period. It's goal is to 'enroll' as many cars as possible, and pay out the least amount that it has to. Have you read through all the fine print on them? Do you suggest to consumers that they should maintain their vehicle up to 300% more often than the manufacturer states? If so, that's your business, not mine. I am curious though. Whether you sell XXX cars a month, or X,XXX cars a month...the premium per vehicle (from what I've ever seen) stays the exact same. If there was a breaking point where the premium went down, the risk of more losses wouldn't make sense for their book of business within the reinsurance company. No one is asking you to win a popularity contest, I could generally give 0 ****s less about it...All I'm saying is that I do not believe in lifetime service contracts and the stipulations that go with them, and view them as a great [gimmicky] sales tactic. [/QUOTE]
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