Premium Warranty Services PH levels up on pre-owned buying experience

MANILA: Premium Warranty Services Philippines, Inc. (PWSPI) aims to upgrade the pre-owned car market in the country. It starts with the premise that purchasing a used car in the Philippines is fraught with numerous challenges — especially for the inexperienced. Typically, purchases are made “as-is-where-is,” and buyers are left to fend for themselves.

In a statement, PWSPI and GT Capital Auto & Mobility (GT CAM) Chairman Vince Socco said, “Many Filipinos are in the market for used cars as an alternative to public transport or as an additional option for personal mobility. By providing top-quality inspection and warranty services, PWSPI is able to bring a new level of transparency to the second-hand car market and help provide buyers with added peace of mind in both the buying and ownership experience.”

PWSPI sees a clear opportunity to create a simple way for sellers and buyers to trade in used cars. Buying used cars is worry-free and reassuring with PWSPI’s inspection services, as warranty coverage is available through used car dealers.

PWSPI has partnered with financial institutions and second-hand car dealers who supply pre-owned cars to the market and online portals to improve the buy-and-sell experience of used cars. PWSPI examines vehicle inventory to provide car buyers more insight into the vehicles they are considering to purchase.

PWSPI issues a certification on the car’s condition after it completes its 188-point vehicle inspection. Vehicles listed online will have an “Inspected” badge with a link to a copy of the inspection certificate. In the dealer showrooms, vehicle surveyors will place a sticker on the windshield, certifying the inspection conducted by PWSPI. A copy of the inspection certificate is also available upon request.

PWSPI is currently working out plans with online community marketplace Carousell to have them inspect and certify all used cars featured on their platform.

“We want to make PWSPI inspection and warranty services easy to find and avail. Partnering with used car dealers and online autoportals in offering these services is the natural place to start. They know their customers and the market best and our role is to help them provide better value and a better purchasing experience,” Socco added.

Aside from the inspection certification, PWSPI will also provide photos of the vehicle, highlighting the important findings on the car’s conditions.

Used car dealers employ PWSPI’s team of qualified vehicle surveyors to undertake vehicle inspections. The evaluators perform a 360-degree inspection of the exterior, interior, undercarriage, engine, and on-board devices (OBD) using various tools and equipment.

Aside from examining for dents and scratches, the thickness of the paint is also measured to detect any potential accident-related repainting. The cross-member, pillars, and welding spots are also inspected for integrity. To reveal hidden issues, the car’s OBD is electronically scanned for fault codes. Shock absorbers, ball joints, and other suspension parts are also examined to see if they are in good condition.

The reassurance provided by PWSPI extends beyond the certification of the car’s condition. Pre-owned car buyers can upgrade their ownership experience by acquiring a vehicle warranty from the used car dealer, backed by Premium Warranty Services’ experience and technical expertise.

Pre-owned car dealers can provide warranties on vehicles that are less than 10 years old or have a mileage of less than 150,000 km. One-year or two-year warranties are available—a benefit that used to be exclusively offered to brand-new vehicle buyers. Depending on their budget or personal taste, buyers of used cars can choose between an Engine and Transmission Warranty and a Comprehensive Warranty that covers over 200 parts. A basic one-year Engine and Transmission coverage on a three-year-old used car starts at P5,100—a fairly reasonable investment for the increased security it provides. Meanwhile, a full two-year Comprehensive Warranty on a three-year-old vehicle costs P13,300.

Used cars that have been confirmed as eligible by PWSPI Vehicle Surveyors are qualified for warranties. It is available for major Japanese, American, and Korean automotive brands except for gray market parallel imports. In the event of a warrantable part failure, claim can be easily filed through PWSPI. The claim will be evaluated by PWSPI and if granted, the owner will be referred to one of its accredited repair shops. An owner can file a claim for up to a total repair cost of P250,000 to P500,000 throughout the course of the warranty period, depending on the type of warranty.

After Thailand and Indonesia, the Philippines is Premium Warranty’s third entry into the Asian market. It believes that as the country’s population grows, the demand for used cars will also continue to boost. “The second hand car market — even during the pandemic–has been quite resilient. We believe that the Filipino car buyer — new or pre-owned — demands a better experience that is consistent with more developed markets,” Socco said.

To learn more about the services offered by PWSPI, log on to its official website at pwsp.com.ph or follow Premium Warranty Services Philippines on Facebook.

Photos from Premium Warranty Services Philippines, Inc.

Also read: Premium Warranty Services PH provides inspection, warranty services for used cars