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Extended Warranties

2870 messages,  Last post on Nov 23, 2009 at 4:56 PM

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What is this discussion about? Car Warranties

Edmunds article: Third-Party Extended Warranty Scams

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#18 of 2870 And with the private company by zueslewis Jun 14, 2003 (4:31 pm)
you're also just buying what's past the basic warranty.   Private "warranties" aren't "warranties" at all - they're insurance policies. Policies that have no legal liability to repair your car - at all.
#20 of 2870 98monte_ls... by ffmcobalt Jun 18, 2003 (1:24 pm)
I believe you are able to purchase a GMPP as long as the original, factory warranty is still in effect. If I recall correctly, that means that you can buy a 7yr/100K-mile warranty up to 36 months after your purchase or up to 35,999 miles driven. You aren't required to buy the GMPP when you first purchase the vehicle. That would make the first three years and 36,000 miles pointless.   I'll go look for confirmation because warranty work isn't my department at work, but I'm pretty sure. Replies to this message: rfrench (Mar 24, 2005 6:05 pm)
#21 of 2870 What it does give you by zueslewis Jun 18, 2003 (4:09 pm)
is a cheaper price (negotiated with the dealer at your best price vs buying from GM on a menu (retail) price) and rental car coverage through the basic warranty. Replies to this message: rwfiglia (Jan 04, 2005 2:54 am) ripped53 (Feb 26, 2005 1:05 pm) adam102 (Mar 31, 2005 6:02 pm)
#22 of 2870 Buying up front by kcram HOST Jun 19, 2003 (3:06 pm)
It also allows you to finance the contract into your car loan if you don't have the cash or credit card space available. Pre-Daimler, Chrysler Financial would discount financing rates if you also bought a Chrysler service contract up front and added it in with the loan. Saved me 2 full points in 1996, don't know if CFC still does it now.   kcram Host Smart Shopper and FWI Message Boards
#23 of 2870 zueslewis by Martypa Jun 20, 2003 (5:25 am)
Would you then recommend not buying an extended warranty if if unable to get it OEM?
#24 of 2870 Seriously, by zueslewis Jun 20, 2003 (7:44 am)
you'd be better off taking the money you would spend and put it in savings in case of a breakdown.
#25 of 2870 Thanks Zueslewis by Martypa Jun 21, 2003 (6:57 pm)
After reading through the info here and reading a few third party contracts, I will be doing just that!
#26 of 2870 Good move! by zueslewis Jun 21, 2003 (7:14 pm)
#27 of 2870 Truth about Extended "Service Contracts" by autoxpert Jun 26, 2003 (8:36 am)
I have read some of the advice offered by so called experts, and I wish people were telling the whole truths. 1st) All "extended warranties/service contracts" are backed by some form of insurance, whether the its a TPA or a factory plan. 2nd) The difference between TPA's and Risk Retention Groups (ie, National Warranty Inc, Capital Assurance, etc) is that reputable companies have fully insured contracts that absolutley OBLIGATE the administrator to pay claims on the contracted vehicle. 3rd) More often prices from reputable TPA companies are close in price to factory plans, and even can offer more benefits (ie. roadside assistance, trip interuption reimbursement,etc.). I would expect that those who claim to lead discussions or have expertise give proper information. If the company is reputable, financially solvent, and has a good claims history, you will have the same piece of mind if it was covered by the factory! Replies to this message: summer cruiser (Jan 24, 2005 5:12 pm)

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