“X-Care EV Protection” – First 3rd Party Service Agreement for Tesla
Feb 14, 2019, 16:14 ET
FRISCO, Texas, Feb. 14, 2019 /PRNewswire/ -- Xcelerate Auto, LLC, in partnership with Endurance Dealer Services and AmTrust Financial Services, announces "X-Care EV Protection", the first 3rd party vehicle service agreement that covers battery electric vehicles with a focus on Tesla Model S, Model X and Model 3. X-Care is the only 3rd party vehicle service contract designed to fit Tesla's existing, innovative, and nationwide automated service process. Similar to the manufacturer's warranty, X-Care covers parts and labor with the exception of the high voltage battery and drivetrain in attempt to mirror the factory bumper-to-bumper warranty.
Eligibility extends from current model year to ten years old with up to 125,000 miles at the time of contract purchase. Purchasers of X-Care will only pay the $100 deductible for a covered repair. The coverage also includes emergency 24/7 roadside assistance along with trip interruption if anything were to occur when you are far away from home.
Keith Gimbel, the founder and Managing Partner of Xcelerate, specializes in 3rd party commercial leasing for Tesla vehicles along with other battery electric vehicles and has been in the Auto Leasing industry for the last 20 years. "While working closely with Tesla vehicles for the past several years by providing vehicle finance, commercial lease options to Tesla buyers, and seeing the collective service repair data for our consumer and commercial clients, we saw the acute need for a specialty vehicle service contract designed from the ground up for the unique attributes of electric vehicles. Endurance Dealer Services worked with us and their insurer to completely reimagine the vehicle service contracts for EVs and to meet the unique and automated process that Tesla is headed towards."
Dealers that sign on with X-Care are able to bundle in these extended service contracts with the sale of their pre-owned inventory. Current owners or customers who just took delivery and looking for extended coverage, can purchase directly on Xcelerate Auto's website. "Knowing the buyer and vehicle technology, we wanted to approach this offering with that same type of tech mindset. With that in mind, we developed an online experience where you can enter in your vehicle information and our instant quote tool will tell you the coverage options and pricing. You can then simply proceed with your information and purchase with a credit card," states Milad Davoodi, Xcelerate's VP of Sales and Sales Ops who is an ex-Tesla employee that was with the company for nearly 7 years and helped launch their Global Trade-in and Used Vehicle operation.
The Tesla claims process was specifically designed to work around the manufacturers direct service model. As Tesla is focusing on automating the scheduling and service process, Xcelerate and Endurance knew that they had to work around their existing and future model. Endurance, being one of the nations largest providers of vehicle service contracts, will administer all claims calls directly from the customer to ensure that the customer experience is maintained at the highest level, as well as starting the claim.
Xcelerate sees X-Care as being a significant value add option as it represents a major step of maturity in the electric vehicle space and the advancement of consumer confidence in the pre-owned EV industry.
About Xcelerate Auto – Xcelerate Auto is a Texas based company founded in 2014 that offers a completely transparent vehicle sales and leasing experience to consumers and businesses nationwide. Our clients receive unlimited access to all industry analytics as well as the true costs of our vehicles and services all while receiving a no pressure, technology driven, no nonsense approach to their purchase or lease. Our sales staff brings over 20 years of experience in the auto industry and knows the market inside and out. For more information about Xcelerate Auto visit: https://xcelerateauto.wpengine.com.
About Endurance - Founded in 2006, Endurance is the nation's premier provider of extended vehicle protection. Endurance Dealer Services is the administrator and obligor of Endurance vehicle protection plans and programs, enabling us to customize our products to meet the ever-changing needs for dealers and their customers. Endurance is one of the largest providers of vehicle service contracts in the nation and backed by AmTrust, an A.M. Best "A-" rated insurance company. To-date, we've paid more than 100 million dollars in claims and continue to be the industry's fastest growing top-rated vehicle service contract provider. Agents and dealers nationwide make the move to Endurance Dealer Services every day to provide their customers with top quality products backed by the best customer service in the industry, and consumers have come to trust the Endurance name will provide them with the best protection for the road ahead. For more information about Endurance Dealer Services visit: https://www.enduranceds.com.
CONTACT: Milad Davoodi, firstname.lastname@example.org
SOURCE Xcelerate Auto, LLC