Carwow launches ‘BuySafe’ to help boost dealer profitability

Carwow is partnering with Warranty Solutions Group (WSG) to create ‘BuySafe’ to help safeguard dealers against undisclosed mechanical and electrical failures on stock sourced via its online auctions.

The first programme of its kind to be offered in the consumer-to-business auction market, BuySafe has been designed specifically to help with some of the most problematic vehicle issues - typically the ones hard to spot on inspection - reported by dealers following purchase via auction.

It includes the cost of repairing or replacing around 3,000 parts under the main systems - including the engine, gearbox, alternator, differential, infotainment, lighting units and supercharger - plus associated labour costs.

In return for only £59 plus VAT per vehicle, dealers are safeguarded against major mechanical failures on eligible cars they purchase through Carwow auctions. This greatly reduces the risk to dealers of an unexpected repair bill and maximises profit when the car is subsequently sold.

Sally Foote, Carwow’s chief commercial officer - Sell My Car, said: “BuySafe is game-changing for our dealer partners. Our aim is to build the most transparent and trusted online auction platform for the motor trade. We recognised that buying directly from a consumer via auction might be seen by some dealers as potentially risky.

“That’s why BuySafe has been created – to give dealers assurance that they won’t face a hefty repair bill should something go wrong mechanically or electrically. Our dealers can now bid with total confidence.”

John Colinswood, CEO of Warranty Solutions Group, added: “Specifically designed to safeguard against some of the biggest and most problematic vehicle issues reported by dealers after purchase, we firmly believe this trailblazing initiative will transform the online vehicle auction industry.”

Following a successful pilot phase, dealers that meet certain eligibility criteria will be able to join the waiting list for BuySafe.

Carwow has also recently enhanced its vehicle collection and delivery service, making the changeover process stress-free for dealers and consumers alike. Its support team is available to assist between 8:30am and 5:30pm Monday to Saturday.