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Smart Shopper 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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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.
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Replying to: bubsy1 (Apr 19, 2009 4:30 pm) |
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Replying to: rnixon (Apr 18, 2009 8:26 am) 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.
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Replying to: sharonohio (Apr 19, 2009 12:11 pm) Be prepared to stay with GEICO through thick and thin for 7 years, no matter how much they charge for your insurance. |
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Replying to: mitzij (Apr 20, 2009 6:21 am) 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.
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