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Smart Shopper Extended Warranties
2873 messages, Last post on Dec 02, 2009 at 2:13 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
Edmunds article: Third-Party Extended Warranty Scams
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And to that dolt who said "buy it online later for the best price". a) Do you idiots not understand that warranties are the cheapest when you first buy the car? You have such a way with words that makes your arguments so convincing. That's always a good way to keep an intelligent conversation, just insult the person you're debating with. Thanks for your enlighting words of wisdom.....*sarcasm* |
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Replying to: sbmcat (Oct 27, 2007 10:50 pm)
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Replying to: dwynne (Nov 29, 2007 4:20 pm) As far as the "factorey plans" you mention, I can't speak of. I don't know what a factorey is. But I was in the car business for 8 years and worked for 4 different manufacturers and they all have an increase. Now you are right about one thing; there is not a huge increase like that from day 1 to day 2. I am talking about someone who is going to purchase the warranty years later (as I mention above). I understand your need to sound like a pro, but you aren't. You are one of those typical consumers who think everyone is out to rip them off.
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Replying to: jboxton (Nov 30, 2007 7:31 am) 
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Replying to: joel0622 (Nov 30, 2007 8:01 am) |
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Replying to: jboxton (Nov 30, 2007 7:42 am) You sign up yesterday and you start ripping on a long time poster who has provided a lot of unbiased and well-researched advice. If you cared to take the time and go back and read some of his posts, you'd know. But I guess no low is low enough when you don't have a valid argument, even making fun of a miskeyed word (E is right next to R on the keyboard), while at the same time you desperately need a punctuation refresher. |
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Insulting other members is a good way to ensure that your posts disappear faster than the $ from RRG warranties.
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Replying to: kirstie_h (Nov 30, 2007 10:45 am) Then why are they still there? |
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As a consumer reporter for more than 20 years, I've regularly had to return to the subject of auto repairs for readers. It's one of those topics that one thinks they've managed to reach the bottom of the barrel until the next scam opens up proving this is truly a bottomless pit. I used to have to deal mostly with repair shop scams and other localized fraud cases (repair shop claims part "x" needs replacing when it doesn't, parts claimed replaced never were, etc.). But in the last ten years, national white collar fraud, scams, and highly questionable business practices have really been where all of the big money is being made. And after nearly a year of investigation, we've found that the aftermarket extended warranty marketplace is, by far, the biggest problem consumers are likely to encounter. And when it does happen, it frequently leaves consumers out more than $1,000. The independent extended warranty marketplace has gotten so bad this past year that we no longer recommend ANY extended warranty not backed by the auto manufacturer directly. We could not find a single extended warranty provider that we felt confident would stay solvent over the long haul. To survive in the competitive aftermarket extended warranty business, independents have had to recklessly discount their offers, which inevitably leads to a shortfall in funds available to pay claims or pay refunds under so-called "Guaranteed Price Refunds" which offer consumers a full refund for any vehicle service contract that was not utilized during the contract period. As part of our investigation, we purchased extended warranty agreements from dealers and online brokers from a variety of companies, nearly all of which have since gone bankrupt. We found a wide variety of tricks and traps used by extended warranty adjusters to limit their claim exposure, and discovered Enron-like accounting practices revolving around shell companies, structured "underwriters" which had financial interests in the companies they supposedly backed, and offshore bank accounts which kept warranty company owners protected when the inevitable bankruptcy filings were made. {end of part 1)
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