Supacat
Member Since: 16 Oct 2012
Location: West Yorkshire
Posts: 11018
 
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I don't know whether it's a good idea or just smoke and mirrors to get their hands deeper into your pockets?
"The investment from Jaguar Land Rover's venture capital arm, InMotion, came about following the manufacturer's experience working with Bumper within its UK dealerships from 2020. It was “impressed by their market leading product,” InMotion said."
"Like all good ideas, the one for Bumper came to co-founder James Jackson to solve a specific need he had – namely how to avoid the punch of unexpected repair bills for his old Volkswagen Polo."
"Bumper's buy-now, pay-later product works like this. The car owner is given the option of paying in installments for repair work offered by garages and service centres that have signed up with the firm.
The payments can be spread any way the owner wants (within certain boundaries) and there’s no interest to pay. Instead, Bumper makes money from the service centre, which pays it per customer.
Service centres get on board because they stand to win more business after the initial investigation into the fault, says Allman. The technician might identify a number of faults, but the cost might be prohibitive in a single chunk.
“Only about 40% of the work gets authorised," he said. "There’s a variety of reasons why the 60% doesn’t, but the majority revolves around price and affordability. It means the garage or dealer is missing out on revenue opportunities.”
https://www.autocar.co.uk/car-news/busines...pair-costs
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15th Jan 2022 8:26am |
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