ProGuard Warranty Launches CPO Program

By Staff Writer February 17, 2021

ProGuard Warranty, a vehicle protection product provider, has launched a Certified Pre-Owned (CPO) program to better position independent and franchise dealers for the current automotive retail environment. ProGuard’s CPO program promises to help dealers improve profit margins and inventory turns by providing higher quality vehicles backed by a 125-point certification process for the buyer’s peace of mind.

Prior to COVID-19, CPO had been one of the strongest performing segments in the automobile retail market. That changed during the initial quarantine period when shoppers were unable to purchase cars on-site, resulting in a drastic decline in auto sales.

“Rather than sit on unsold units, dealers released a significant amount of CPO-eligible inventory into the non-CPO used-vehicle market to move vehicles off the lot and recoup inventory costs,” said Dominic Limongelli, president of ProGuard Warranty. As the year progressed, auto sales recovered, and 2020 CPO sales finished only slightly underperforming expectations.

ProGuard focused on the best of the best certified vehicles to meet the needs of today’s buyers.

“CPO vehicles allow shoppers to upgrade to a nicer ‘new-ish’ purchase without taking the depreciation hit,” offered Limongelli. “These vehicles are ideal for customers who want the additional features and peace of mind that comes with a new vehicle but aren’t willing to pay full price for these luxuries. Since we’re all putting less mileage on our vehicles, buyers are willing to pay more for a vehicle that they will hold onto longer.”

 

ProGuard’s Certified Pre-Owned program offers many advantages for the independent and franchise dealer.

 

“Unlike manufacturer’s programs where factory CPO vehicles can only be sold by a franchise used-car dealer for that brand, our dealers can select their own inventory,” said Limongelli. “They are not limited to a specific make and model so they can cherry-pick the vehicles best suited to their customer base,”

ProGuard dealer partners are given the option of choosing a length of contract that meets their budget and can earn back the cost of certification plus more through upsells. In addition, all CPO contracts are eligible for incentives and points earned on every contract sold can be redeemed for operational, sales and marketing tools through the ProGuard Miles program.

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Last modified on Thursday, 18 February 2021 14:44