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Extended Warranties

2873 messages,  Last post on Dec 02, 2009 at 2:13 PM

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What is this discussion about? Car Warranties

Edmunds article: Third-Party Extended Warranty Scams

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#2637 of 2873 Re: still confused about warranties [sharonohio] by mikefm58 Apr 16, 2009 (6:28 am)
Replying to: sharonohio (Apr 16, 2009 5:40 am) IMO, the GM warranty is your best bet, even with BK looming. The good ole USofA and Barack Obama will cover you, even if GM goes completely belly up, which is extremely unlikely. Fidelity and Geico are all after market 3rd party warranties and you won't find a recommendation here for either, (except sales folks like most recently rnixon), that sell these types of warranties.   And 7yr/70K miles isn't that much extra coverage over GM's basic and power train warranties, and at a grand is quite expensive. I'd recommend cancelling the warranty and getting your money back. Replies to this message: mitzij (Apr 16, 2009 8:17 am)
#2638 of 2873 Re: still confused about warranties [sharonohio] by deltheking Apr 16, 2009 (7:54 am)
Replying to: sharonohio (Apr 16, 2009 5:40 am) Sharonohio, I think it`a very good decision to buy an Extended warranty especially for chevy Cobalt. But as folks here on Edmunds will tell you,,like in Mike above -- Never ever buy an aftermarket 3rd party warranty including Fidelity or Geico.Geico is good for auto insurance,,I have one,,but not sure for ext.warranty.   All aftermarket warranties are worthless,expensive and they never pay any claims.A lot of folks here were burnt by Warranty Gold. And Fidelity has so many complaints regarding claims and exclusions.   My advice as will other folks here will tell you-- Never buy a 3rd party warranty. So cancel your Fidelity warranty immediately.Normally you have a period of about 60 days to cancel it. Get a original Manufacturer factory warranty from GM.You can look up the details on GM/Chevy website.And u can buy it from any Chevy/GM dealer in USA.As to which dealer to buy it from ,,search the internet for GM original warranties or GM/Chevy forums online-- these usually have info about this and the prices paid for the coverage.   But first cancel the Fidelity warranty!!! Replies to this message: sharonohio (Apr 17, 2009 7:46 am) mitzij (Apr 17, 2009 9:08 am) rnixon (Apr 17, 2009 10:18 am) deltheking (Apr 17, 2009 10:48 am) mitzij (Apr 17, 2009 10:59 am)
#2639 of 2873 Re: still confused about warranties [mikefm58] by mitzij Apr 16, 2009 (8:17 am)
Replying to: mikefm58 (Apr 16, 2009 6:28 am) To build on the previous posts: Be sure you know what you purchased. It's not a warranty. It's not bumper-to-bumper. It's a company that has agreed to pay for repairs to your car IF the repair is covered by the contract. They have the right to pay for labor time (and rate) that they determine is appropriate, they have the right to pay for parts based on their idea of 'fair value'. You have to follow their rules before they will fork out any payment on your behalf. You are giving them control over repairs to your vehicle. If you're ok with that, fine, but be forewarned.   Be sure to read the contract thoroughly. Understand what they pay for, how, and what the limits are. Fidelity's contracts have many loopholes. Be aware of them.
#2640 of 2873 Re: 3rd party aftermarket warranty is junk,,,Factory warranty is Best [jipster] by rnixon Apr 16, 2009 (10:32 am)
Replying to: jipster (Apr 15, 2009 9:12 am) Really, a president who has spent more in three months than the previous 44 presidents combined. I understand that you like him for some reason, but naivety does not serve you well.
#2641 of 2873 Note by tidester HOST Apr 16, 2009 (10:38 am)
I don't think we need a political flame out so let's move off politics and stick with discussing extended warranties. Thanks.   tidester, host SUVs and Smart Shopper
#2642 of 2873 Re: 3rd party aftermarket warranty is junk,,,Factory warranty is Best [mitzij] by rnixon Apr 16, 2009 (11:05 am)
Replying to: mitzij (Apr 15, 2009 10:25 am) It does say on website Extended Service Agreement AKA 'extended warranty' (go look, autofinanceservices.org) I have a contract I send out to customers, but I won't put a blanket contract up because If someone elects for lessor coverage or less mileage they will not see what I send them, they will only see what's stuck up on a website. That's why i'm careful not to do that, when I know what someone is eligible to get, then I can show options. To blanket something or show examples would be somewhat reckless on my part. I want people to read what they buy, then when something arises, they know what they have, that's why we have very little trouble, I don't hide things, but I also don't put things out there for people that aren't eligible for them.   By the way I am cutting out one of the middle men! There are usually three layers of people between the warranty company and the end user of a warranty. 1. There is the marketing company that the warranty company contracts with. 2. Then there's the agent to the dealer that gets his cut for taking care of dealer. 3. There's the finance manager who has to make a profit after 2 other entities have     sliced off their part.   With me, it's warranty company, me. That's it. No marketing no agent no dealer.   No, .orgs are for profit and non profit alike, no designation, it's just that they started using it first. Yes, pretty new to internet, been doing on statewide basis for quite a few years, still very busy with that, but that's the reason for branching out. I differentiate because I don't have to make big profit. For like coverage I will be much cheaper, and if for some reason I wasn't , you better buy it because you're getting a great deal. Different companies fill different niches and have different acctuarial equations they use, so sometimes I get beat because a company doesn't have as much history with a particular vehicle and can't see as big of loss as another one does. Sometimes this works out great for the consumer. I keep cost low and do advertise locally, I'm confident exposure and word of mouth will get me going, surely but slowly. I just want to provide service and do well and in the process help a few people along the way. Already have done this for years and I think the naysayers here would come around if they knew me a little better.
#2643 of 2873 Re: 3rd party aftermarket warranty is junk,,,Factory warranty is Best [deltheking] by rnixon Apr 16, 2009 (11:28 am)
Replying to: deltheking (Apr 15, 2009 10:01 am) For the last time, not an agent, no commision structure on my warranties, that's how I'm cheaper. By the way I am the company, I have no one over me, I contract with the companies on this endeavor. And they're not 'proud', they have a business arrangement that we, and customers benefit from. You telling someone a third party is not as good, is like saying insure your car with AIG instead of someone like Liberty Mutual (who I personally and professionally use), because AIG is so much bigger and more secure. Oh that's right, the government had to pull them out of the fire and now they are trying to shed asset and spin off companies. Now they owe hundreds of BILLIONS to the fed. gvt, that they won't be able to pay off without cutting expenses (denying claims). You don't have to be super large to be good and you don't have to affiliated with a manufacturer to be credible and relevant. Oh, and if manufacturers are sooo good, why is it that fords factory warranty would only peice meal fix my brothers ford f350 diesel instead of fixing the real problem, which would have been very costly, even though it now stays in the shop half the time for the same avoidable problem that they won't spring to fix. See a company with a good business accument would bite the bullet and fix the real problem once and be done with it
#2644 of 2873 Re: 3rd party aftermarket warranty is junk,,,Factory warranty is Best [deltheking] by rnixon Apr 16, 2009 (11:36 am)
Replying to: deltheking (Apr 15, 2009 1:33 pm) OK, you're full of it, I don't know what your agenda is, but I resent being called a scam artist, and what you got is what anyone that goes to a dealer gets, because I use it in my dealership. Lying to try to make yourself look right is wrong and it's slander. My best friends and my family buy from me, I have nothing to hide, but I would advise you not to ever use the words scam artist when referring to me again.
#2645 of 2873 Extended warranties? by tidester HOST Apr 16, 2009 (11:42 am)
I think it's time we got back to discussing extended warranties.   tidester, host SUVs and Smart Shopper

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