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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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#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
#2648 of 2873 Re: still confused about warranties [deltheking] by sharonohio Apr 17, 2009 (7:46 am)
Replying to: deltheking (Apr 16, 2009 7:54 am) Why didn't the dealer offer an GM extended warranty when I bought it instead of the Fidelity one? Is it just that they make more money from the FWS one?   And this whole thing about '"will they honor the warranty if they go bankrupt?" According to MSNBC, the gov will only back them if the car was purchased AFTER that bankruptcy date, if and when that happens. So wouldn't an extended GM warranty also be worthless?   Sorry if I'm beating a dead horse here, but I'm just trying to make the most informed decision. Replies to this message: 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)
#2649 of 2873 Re: still confused about warranties [sharonohio] by mitzij Apr 17, 2009 (9:08 am)
Replying to: sharonohio (Apr 17, 2009 7:46 am) They make more money off the Fidelity service contract.   I think people are getting confused about the government's promise to cover warranties. They're talking about the manufacturer's 3/36 warranty against defects. It's not the same as the service contract you're asking about.    I reckon there will be provisions to take care of any outstanding GMPP service contracts when a bankruptcy occurs, but there's no way to know what the future will hold. I don't think GM could get by with the cut-and-run trick that other defunct service contract companies have gotten by with. This is one situation where the drive-by media might actually do the consumers some good.   In your situation, I'd cancel the Fidelity contract and hold tight to my money. You have control over your vehicle--take good care of it and you will be just fine.
#2650 of 2873 Re: still confused about warranties [sharonohio] by rnixon Apr 17, 2009 (10:18 am)
Replying to: sharonohio (Apr 17, 2009 7:46 am) She's right they make more money on fidelity warranties. GMPP's are expensive, and most GM dealers shy away from selling for that reason. Yes your factory warr will be honored, no matter what, but GM extended warranties are actually a separate business entity than GM, so that part will be up in the air for a while. I personally don't like Fidelity service agreements (warranties) because I've had some problems with them paying, I always got my money, but had to beat them up on the phones sometimes to get it.

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