The RAC has revealed plans to launch its RAC Car Passport provenance check for dealers on the 26th of February.
According to the RAC, the product will have feature parity with established provenance checks, but will be offered at a cheaper price.
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The standard price will be £2.99, which will fall to £2.49 for between 5,000 checks and 9,999 checks, £1.99 for 10,000 to 49,999, and 99p for orders of over 50,000.
The product will include downloadable RAC Car Passport documentation designed to maximise the credibility of the check, £10,000 of insurance that can be increased to up to £50,000 to protect higher value vehicles, and a mileage adjusted valuation that can be upgraded to a Glass’s valuation for an additional cost.
Robert Diamond, managing director of Motoring Services at the RAC, said: "This is a market that has suffered from a lack of competition for some time and, we believe, dealers have been paying too much for used car history checks as a result."
RAC launched a consumer passport at the end of 2014 and, speaking to Motor Finance, Diamond said the new product was built on lessons learned from that experience.
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By GlobalDataAccording to Diamond, the aim was to achieve double digit market share by the end of 2017.
To find out how RAC is intending to gain this market share, and for more details on RAC Passport, please read our full interview with Robert Diamond.
