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Extended Warranties

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

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Edmunds article: Third-Party Extended Warranty Scams

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#2693 of 2873 Re: Is it more expensive [sharonohio] by deltheking Apr 19, 2009 (12:41 pm)
Replying to: sharonohio (Apr 19, 2009 12:11 pm) It is always better u buy the ext.warr as soon as u can because the max. u can get for almost all manufacturers is 7yr/100k miles.And that 7 yr/100k is from the date of purchase of the car. So if after 2yr you have 30k miles u can buy the ext warr for an additional 5yr/70kfor a total of 7yr/100k. So no matter when u buy the policy,the ext warr will be upto 7yr/100k. But normally the closer u get to 3yr/36kmark ,,the more expensive the warr.gets. So u are better off buying the warr. at the earliest if u plan to keep the car for some time. If u plan to keep it for only 3yr or less than 36k then there is no point. But I am assuming,u want to keep your car for a much longer time,,,hence the ext.warr.   For a chevy Cobalt,,u are more likely than not to use the ext.warr. Cancel the Fidelity warr-- it`s a useless coverage with no payment of claims and lots of exclusions...Also it`s BBB rating is horrible with many complaints! Geico again has lots of exclusions--it is not an ext warr.,,it is a mechanical breakdown coverage only!!   Buy an original Manuf . warr-- GM ext warr.-- which u can buy online from any dealer in US or at your local Chevy dealer. Just MHO.
#2694 of 2873 extended warranty by theking Apr 19, 2009 (12:50 pm)
Always get the xtended warranty from manufacturer. I had a call from a 3rd party company who wanted to sell me his company's warranty. I asked to send me a brochure...the idiot said he will need my valid charge card # which he would not bill to send me a brochure. If anyone gave him their charge # for a brochure. .. they should not be driving. they are too stupid! As John Wayne once said;"Life is tough..it is tougher if you are stupid"
#2695 of 2873 Buyer Protectio by bubsy1 Apr 19, 2009 (4:30 pm)
Does anyone have any information if Honda is going to promote a buyer protection program similar to the one's that Ford, GM and Hyundai are currently promoting?   I'm particularly interested in the in the program that the car company will pay one's monthly payments if the one loses their job.   Thanks very much. Replies to this message: mitchflorida (Apr 19, 2009 4:45 pm) rnixon (Apr 20, 2009 11:42 am)
#2697 of 2873 Re: Buyer Protectio [bubsy1] by mitchflorida Apr 19, 2009 (4:45 pm)
Replying to: bubsy1 (Apr 19, 2009 4:30 pm) I doubt if Honda will have anything like that. There is a dealer Autonation that sells new Hondas that has some kind of protection like that for free.
#2698 of 2873 Re: 3rd party aftermarket warranty is junk,,,Factory warranty is Best [rnixon] by mitzij Apr 20, 2009 (6:21 am)
Replying to: rnixon (Apr 18, 2009 8:26 am) I ACTUALLY know that third parties pay dealers more and that we in the management make out better in the long run with aftermarkets. Not only because we get paid more but make more off of them.   Exactly. The profit margin is higher. The percentage of people who have payable claims is lower. The claims you do get probably average higher than mf/backed claims because of the use of warranty labor time guides rather than Chilton or Motors for the mfr plans. The seller of the service contract makes out like a bandit.   The customer, on the other hand, doesn't get what he thinks he paid for. The shiny brochures and slick websites imply (or state, then retract) bumper to bumper coverage. They say they'll cover rental and towing and lodging, then the contract turns out to have limitations and caveats that the customer wouldn't think of. He quite often gets poor customer service and/or shops that refuse to deal with the contract company because they've been burned one too many times.   Meanwhile, the agent of the VSC company is happily oblivious-he's got his money, the customer's problems aren't his to deal with. Replies to this message: rnixon (Apr 20, 2009 10:59 am) mitzij (Apr 20, 2009 11:29 am)
#2699 of 2873 Re: Is it more expensive [sharonohio] by mitchflorida Apr 20, 2009 (7:57 am)
Replying to: sharonohio (Apr 19, 2009 12:11 pm) I should mention that if you cancel your GEICO insurance policy, your extended warranty goes out the window.   Be prepared to stay with GEICO through thick and thin for 7 years, no matter how much they charge for your insurance.
#2701 of 2873 Re: 3rd party aftermarket warranty is junk,,,Factory warranty is Best [mitzij] by rnixon Apr 20, 2009 (10:59 am)
Replying to: mitzij (Apr 20, 2009 6:21 am) Most good aftermarket companies mirror factory coverage almost verbatim. And I have seen very few that don't pay Chilton rates. To continually tell people different is irresponsible since it's just not true. Every company I have personally signed to a dealer has had no problems paying chilton rates. Every agent of an aftermarket company has to deal with headache claims, that's part of their job. Anytime I've had trouble at, we call the agent and tell him to fix it, if he didn't fix it (and he always has) he wouldn't be there. Of course those are legitimate claims, but he's also made sure we got a lot paid that weren't necessarily valid claims. That's called good will claims, and that happens a lot, it rarely happens with factory because they are more cut and dry on issues like that. Replies to this message: mitzij (Apr 20, 2009 11:29 am)

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