What is the KAP Fleet Warranty?
The KAP Fleet Engine & Transmission Warranty is designed to protect dealers that are enrolled in the Northland Ren’T’Own® / or Lease’T’Own® program and the dealer’s finance company from a failure of covered Engine/Transmission components on a vehicle contracted under an RTO/LTO® lease agreement.
Why do I need a KAP Fleet Warranty?
When a Ren’T’Own®/Lease’T’Own® vehicle WITHOUT our KAP Fleet Warranty
breaks down and the customer stops paying - you will get the vehicle
back and have the “Out of Pocket” expense of fixing the engine or transmission.
When a Ren’T’Own®/Lease’T’Own® vehicle WITH our KAP Fleet Warranty breaks down,
KAP will pay the eligible claim amount after the applicable waiting period if the required
maintenance records are provided. You keep your customer happy while
maintaining your on-going stream of payments.
What is Covered?
Coverage is provided for all internally lubricated parts of the engine and transmission.
Optional coverage is available for four wheel and all wheel drive vehicles.
How does a KAP Fleet Warranty work?
The KAP Fleet Warranty is purchased by the Dealership for their RTO/LTO® Fleet vehicles by submitting the KAP Fleet Warranty Registration to Northland. The warranty stays with the vehicle while it is active on the RTO/LTO® fleet.
The KAP Fleet Warranty covers vehicles of any age and any mileage.
The KAP Warranty is sold directly to the dealership and stays with the car.
For KAP Warranty coverage, the vehicle must be active on your Ren’T’Own®/Lease’T’Own® Fleet.
The KAP Warranty is terminated when the vehicle is sold.
Should at anytime within the term of the original KAP Warranty the insurer deems the vehicle a total loss, KAP will REFUND the prorated amount of the warranty to the dealer.
Ren’T’Own®/Lease’T’Own® customers will sign a RTO/LTO® Addendum stating that all required maintenance be performed at the location of your choice allowing you to do required maintenance and to see how your customer is taking care of your Ren’T’Own®/Lease’T’Own® vehicle.
Payment of KAP claims are quick and easy. Copies of the required maintenance records must be submitted with the claim.