In order to provide increased protection for buyers and sellers, Otolane has released TotalCare, a wholesale protection plan aimed at reducing the risk associated with buying vehicles sight unseen.
Every vehicle purchased through Otolane will be backed by a 30-day mechanical warranty covering the engine, transmission, driveline, steering, cooling, electronic components, and more, at a cost of $29. This safety blanket will cover up to $1000 in repairs for undisclosed issues.
“Sellers can’t be made to inspect vehicles to the point of putting them on a lift, it just doesn’t make sense in wholesale” said David Abitbol, Vice-President of Operations, Otolane. “While we expect our sellers to hold a high standard of transparency, we felt compelled to provide an alternate compensation mechanism to bring more balance to challenging transactions. Sellers will maintain the same level of responsibility and accountability for their trades but TotalCare can now be leveraged to keep deals together.”
In addition to insuring wholesale trades, Otolane plans to offer all KM Plus Warranty products to its auction members to bring additional value to the Otolane Ecosystem and its growing member-base. “KM Plus has been known to offer warranty packages that often meet or exceed manufacturer warranties at competitive prices” said Jean Duplessis, President, KM Plus, “Otolane customers will soon enjoy an easier access to our coverage packages through a single wholesale automotive portal.”
As a secured extended warranty provider, KM Plus offers end-to-end consumer protection plans across Canada that promise better coverage, repairs from any dealer or repair centre, and easily transferrable plans that can be sold along with the vehicle.
The launch of TotalCare is expected for February 1, 2018 and will integrate the following:
- 30-day “TotalCare” protection on all wholesale trades purchased through Otolane including the engine block, drivelines, steering, cooling, electronics, and more.
- Access to competitive consumer extended warranties
- Access to customized protection plans
- Benefit from a price match guarantee; TotalCare will beat any price by 2x the difference
- Access an online portal to manage all extended warranty contracts