Otolane launches “TotalCare” wholesale coverage further protecting buyers and sellers on its digital marketplace

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In partnership with KM Plus, an established third-party warranty provider, Otolane launches “TotalCare” wholesale coverage to reduce the risk associated with buying and selling wholesale vehicles online.

In order to provide increased protection for buyers and sellers, Otolane is thrilled to be the first digital auction platform to release TotalCare, a wholesale protection plan aimed at reducing the risk associated with buying vehicles sight unseen. Every vehicle purchased through Otolane will be backed by a 30-day mechanical warranty covering the engine, transmission, driveline, steering, cooling, electronic components, and more, at a cost of $29. This safety blanket will cover up to $1000 in repairs for undisclosed issues.

“Sellers can’t be made to inspect vehicles to the point of putting them on a lift, it just doesn’t make sense in wholesale” said David Abitbol, Vice-President of Operations, Otolane “while we expect our sellers to hold a high standard of transparency, we felt compelled to provide an alternate compensation mechanism to bring more balance to challenging transactions. Sellers will maintain the same level of responsibility and accountability for their trades but TotalCare can now be leveraged to keep deals together.”

In addition to insuring wholesale trades, Otolane plans to offer all KM Plus Warranty products to its auction members to bring additional value to the Otolane Ecosystem and its growing member-base. “KM Plus has been known to offer warranty packages that often meet or exceed manufacturer warranties at competitive prices” said Jean Duplessis, President, KM Plus, “Otolane customers will soon enjoy an easier access to our coverage packages through a single wholesale automotive portal.”

As a secured extended warranty provider, KM Plus offers end-to-end consumer protection plans across Canada that promise better coverage, repairs from any dealer or repair center, and easily transferrable plans that can be sold along with the vehicle.

The launch of TotalCare is expected for February 1st 2018 and will integrate the following:

  •     30-day “TotalCare” protection on all wholesale trades purchased through Otolane including the engine block, drivelines, steering, cooling, electronics, and more.
  •     Access to competitive consumer extended warranties
  •     Access to customized protection plans
  •     Benefit from a price match guarantee; TotalCare will beat any price by 2x the difference
  •     Access an online portal to manage all extended warranty contracts

For more information about how Otolane, Canada’s fastest growing dealer-to-dealer digital marketplace, contact Otolane (888) 985 – 0201.

About Otolane
With over a decade of experience in software development, value-building growth, corporate financing, successful exits, and IPOs, OTOLANE is backed by an established team and a product that will break all conventions. Designed from the ground up, OTOLANE is a leading dealer-to-dealer digital marketplace for buying and selling pre-owned vehicles. We facilitate the wholesale provisioning and selling process enabling dealers to sell more in less time through a real-time 60-minute online auction. OTOLANE’s no-sale-fee model, coupled with integrated valuation tools, and hassle-free arbitration process has rapidly become one of Canada’s favoured digital wholesale platforms. Our goal is to respond to today’s dealers’ need for comprehensive digital tools in order to reduce the risk associated with buying and selling pre owned vehicles online under a single and unified cloud environment. For more information about Otolane visit otolane.com

About KM Plus Inc.
KM Plus is one of Canada’s leading consumer extended warranty providers with over 18000 satisfied customers in the last 4 years. The company operates in the Maritime provinces, Quebec, Ontario, Manitoba, and expects to be active nation-wide by 2019. Focused on delivering peace-of-mind and superior customer service, KM Plus is rated amongst dealers as their preferred warranty partners. For more information about Otolane visit kmplus.ca

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David Abitbol
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