When your entire business is riding on the safety and performance of your commercial truck, protecting your investment is job #1. That’s why performing regular maintenance is a critical first step for avoiding unplanned downtime and extending the life of your truck or fleet. Yet, while regular oil changes, tire maintenance, realignment and other preventative steps are critical, they’re often no match for unforeseen breakdowns or emergency events that can result in unexpected and costly repairs. That’s where aftermarket warranties can be a prudent investment, whether you’re buying new or used.
Protection beyond factory warranties
When purchasing new, the original equipment manufacturer’s warranty (OEMs) covers specific parts, components and systems. However, for items that are not covered, truck owners run the risk of footing the bill for expensive out-of-pocket repairs in the event of an accident, component failure, or general wear and tear. That can get expensive, especially if you’ve financed your new rig and are making substantial monthly payments.
That’s where an affordable extended warranty like OEM2™, powered by TrüNorth Global™, can make a difference. Offering unique benefits that go beyond an ordinary OEM warranty, OEM2™ provides the added assurance you seek for protecting your commercial asset investment. By covering certain components that OEM warranties generally do not cover, OEM2™ protects against rising parts, labor, and travel costs. That enables you to extend the life of your equipment or fleet. Equally important, you can repurpose business capital that would otherwise be spent on new equipment on other areas of business growth. In addition, OEM2™ is fully transferable, providing the potential to increase resale value when you are ready to sell.
OEM2™ can help:
- Lower your risk of unexpected failure costs beyond factory warranty with no hidden charges or fees
- Minimized downtime with 24/7/365 claims adjudication via the TrüNorth Global ™ live Mobile App, available through Google Play® and the Apple Store®
- Provide an affordable way to manage unexpected and costly repairs
Making dollars and sense of heavy duty used truck warranties
Buying a used truck makes good sense for many owner-operators and small fleet managers. The purchase of a new trucks can tie up a considerable amount of working capital, despite the fact that it depreciates considerably the minute you drive it off the lot. For many, used trucks are simply a more affordable option. Yet, there’s a greater risk that a pre-owned vehicle will require repairs or experience a breakdown sooner than later, despite regular maintenance. To plan for these inevitable repairs, you generally have two choices. You can set money aside each month in an account earmarked for repairs or purchase a comprehensive aftermarket warranty to manage your overall risk.
There are several problems inherent in the first strategy. First, there’s no way to anticipate which systems or components might fail, and when. Therefore, it’s impossible to determine with any accuracy how much you need to set aside now for future repairs. Second, if a given repair exceeds your reserves, you either have to borrow the money to pay the difference or are sidelined until you can come up with the balance due. Both options can be devastating for your business. The third reason that relying on self-funding can be difficult is that it requires significant discipline to refrain from tapping into reserves earmarked for repairs when cash flow gets tight or competing costs arise.
Aftermarket warranties help resolve these challenges and more since they’re designed to cover the kind of game-changing repairs that can bankrupt a commercial truck owner. With a warranty, you know exactly what’s covered and what’s not, making it easy to determine and maintain a budget for preventative maintenance and any deductibles that may apply to covered repairs. In addition, you can pay the full price of the warranty in advance or choose to make fixed, affordable monthly payments. So when a breakdown does occur, you’re not left scrambling for cash or disrupting business cash flow to cover needed repairs.
At TrüNorth Global, our competitive Class 3 – 8 warranty programs cover vehicles 10-years-old and newer, with multi-year options ranging from 90-days to 48 months. In addition:
- Warranty programs cover six major components: engine, transmission, differential, turbo, after-treatment and hydraulics.
- There’s no waiting period. Day-one coverage is guaranteed.
- Your warranty is fully transferable.
- Towing packages are included with all warranty programs.
- We employ the only multi-lingual, live call center in the industry to serve the diverse needs of warranty holders.
- Experienced Claims and Customer Service Representatives are available through our 24/7 live service center to facilitate outcomes and guide warranty holders through the claims process.
- We offer the industry’s first and only mobile application. The TrüAssist Warranty App was developed to provide a faster, easier way to get drivers and their equipment back to work and making money and features:
- Faster claims processing
- Real-time claims tracking and updates
- GPS-enabled location technology
- 24/7/365 claims and user support
- Our FlexPay financing option and Invoice Factoring Program put your business growth and cash-flow needs first.
What’s right for your bottom line?
Whether you purchase or own new or used equipment, a comprehensive aftermarket warranty can make good business sense by reducing your out of pocket-costs for expensive repairs, extending the lifecycle of your equipment, and enabling you to invest business capital where you need it most as you grow your business.
To learn more about TrüNorth Global warranty programs and services, or for help determining the right warranty program for your business needs, visit us at TrüNorth Warranty or call us at 1-800-903-7489. We look forward to exceeding your expectations.
