Select ServNet Auctions are implementing the DealShield program, a buyback guarantee assurance product backed by Cox Automotive which has been expanding that network to include Independent auction sites.
The DealShield DS360 guarantee protects a dealer's wholesale vehicle purchase and gross profit for up to 21 days and 360 miles. If the customers decide the purchase isn't right for any reason, they can return the car and get 100% refund of the purchase price and buy-fee.
The move is part of ServNet's plan to increase focus on creating easier customer transactions in response to online shifts from predominantly dealer vehicles to commercial and fleet/lease units.
The product has already been implemented at two ServNet auctions: BSC America's Bel Air Auto Auction and Tallahassee Auto Auction facilities, and will next be rolled out at Missouri Auto Auction and Houston Auto Auction.