ProGuard Warranty Selected for National Independent Automobile Dealers Association CPO Program to Help Boost Dealer Revenue

News provided by

Apr 19, 2022, 10:46 ET

AVOCA, Pa., April 19, 2022 /PRNewswire/ -- The shortage of new vehicles has created high demand for used vehicles, especially late model, "nearly new" cars and trucks that most closely meet the needs of consumers unable to buy new. Certified pre-owned (CPO) vehicles are increasingly popular, as they provide buyers documentation that the vehicle has been thoroughly inspected and maintained or repaired to meet certification guidelines. With CPO sales projections projected to reach 2.8 million units in 2022, according to Cox Automotive, this segment of the market is facing supply issues as well.

"Sourcing potential CPO vehicles may be a challenge right now as the primary sources for these quality, low mileage vehicles are rental car companies and leases, both of which were negatively impacted by COVID," stated Dominic Limongelli, President and COO, ProGuard Warranty. "Every dealership is fighting for the same inventory, increasing procurement costs and reducing margins. Dealers need to find a way to drive customers to their lot to make that money back, and CPO can do that."

ProGuard recently teamed up with the National Independent Automobile Dealers Association (NIADA) to serve as an administrator for its newly revamped NIADA Certified program. "When NIADA approached us about its CPO program, we felt it was a perfect collaboration because we share a common objective of helping the independent dealer succeed," said Limongelli. "By providing documentation as to the certified state of a vehicle, you are holding that vehicle and your lot up to a higher standard. Having the validation of a respected third-party association adds an extra level of comfort to customers, helping them feel extremely confident in their purchase."

NIADA vice president of member services James Gibson said NIADA Certified gives independent dealers the chance to compete on a level playing field in the most popular and profitable segment of the used vehicle market. "Customers are searching for certified vehicles and this program gives our members the tools to deliver on customer demands," he stated. "We sought out the most trusted names in the industry for our program administrators and ProGuard's reputation for transparency, customer service and claims payment made it a great fit."

ProGuard found the substance behind the program appealing, particularly its integration with Carketa, which provides a 200-point digital inspection and condition report for all NIADA Certified vehicles. This dovetails well with ProGuard's goal of protecting the customer and the dealer's reputation by providing additional value. "Dealers who offer NIADA Certified vehicles show they are willing to go the extra mile to provide customers peace of mind with their purchase," Limongelli explained. "It's important to stand out in today's competitive marketplace and this program does so while increasing dealer profitability. It's a win-win for everyone."

About ProGuard Warranty
ProGuard is a third-generation, family-owned business that has been serving the automotive industry for over seventy years. Their many years in the industry has led to a unique expertise in knowing the products and coverage needed to protect dealers and their customers. An expansive menu of new and pre-owned vehicle protection plans, GAP policies and reinsurance are offered through their nationwide network of dealer partners. Dealers value the company's tradition of flexibility, transparency and accessibility, and their customers appreciate ProGuard's commitment to protecting them from the high cost of repairs. For more information about ProGuard Warranty, visit proguardwarranty.com.

About NIADA
The National Independent Automobile Dealers Association (NIADA) is among the nation's largest trade associations, representing the used motor vehicle industry comprised of some 40,000 licensed used car dealers. Since 1946, NIADA has represented the voice and interests of used car dealers at the federal level in Washington D.C. Coupled with its state association network across the country, NIADA's grass-roots framework provides a dual layer of advocacy unmatched in the used motor vehicle industry.

For more than 75 years, NIADA has engineered programs and leveraged technology to fulfill its mission to advance, educate and promote the independent used car dealer. NIADA members subscribe to a strict Code of Ethics of duty, honor and integrity, and believe in the advancement of small business in support of the free-market system. More information about NIADA programs and educational opportunities is available at www.niada.com.

For more information contact Dominic Limongelli, President, ProGuard Warranty, [email protected] or call (877)-474-9462 Ext 105.

SOURCE ProGuard Warranty