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Smart Shopper smart choice warranty HELP !
125 messages, Last post on Mar 10, 2008 at 9:36 AM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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| yes, I have contacted the dealer, which by the way is King O'Rourke in Port Jefferson, NY. I feel we have all been part of a scam in this pyramid scheme. The dealer took our money enjoyed the profits and so did smart choice and then National Warranty. Now no one wants to be responsible. Something must be done. Car Dealers have enjoyed their share of the profits while giving nothing back to the customer, at least King O'Rourke has. | |
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I too purchased an extended warranty from Smart Choice at Stevens Toyota in Huntington, N.Y. in June 2002. When I first called the dealer to inform them of the issue I was abruptly hung up on. I have since been dealing with the Sales Mgr. and he is checking what they can do. I told him I would split the difference or work something out, but so far as you know been getting the run around. I am giving one more week and then am considering starting a website exclusively with Steven's Toyota name. The markup on the contracts that they sell are almost double of the cost of their price. A "Reputable" dealer would try and work something out instead of leaving customers out in the cold. I currently have 5 drivers in the family. Think of the business they will loose. If anyone does find a breakthrough in this please post. The car dealerships represented the company when they sold us the warranty. They do have skin in the game.
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honored the contracts at our dealership. The decision was based on our belief that our customers come first. We have told the customers that we will only cover the contract if service work is done here. What gets me is that some people chew me out for this.Or say this is the last time we will ever buy a car from you again. We are currently 80,000 dollars worth of un-paid claims. We have 300 contracts that will be in effect for another 4 years. |
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| I figured some dealers were doing that. Our dealership sells GE capital service contracts. I hope they don't go under or we'll probably be doing the same as you. Do you have Any recourse against the service contract company, or is this going to be a really big lunch for you guys? I bet it's a really big lunch. My condolences. | |
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it is putting a huge strain on profitability.There is no type of recourse at this time. We hope to see at least May's claims paid when they release the funds. GE Capital went thru a similar issue afew years back but were able increase their costs on service contracts to offset the losses. |
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The dealership I purchased my warranty from King O'Rorke, Port Jefferson, NY, is not as customer oriented, only profit oriented. Neil King, himself told me that on advice of his attorney, if he honored my warranty, he would have to make good on them all. I not only have a worthless warranty, but repairs to my transmission have cost $2100 plus car rentals. I have contacted the Office of the Attorney General for NY, Suffolk County Office and would advise anyone in this area to do the same. Perhaps if they get enough complaints they will do something about this. |
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| MNEY states there is $80,000 dollars of unpaid claims and 300 contracts in effect for 4 more years. How about reaching a settlement with all of the contract owners that you will pay back the profit of the contract minus any prorating for lentgh of contract and split the claims 50/50. That will get the dealer off the hook for future claims, give the car owners some money back and keep happy customers.The dealerships represented the contracts when they sold them. Then everybody will lose a little money but keep respect. | |
| "Smart" dealers are offering to sell the contract holders new cars at cost to get out from under the nontransferrable obligation. Or so I've heard. | |
| Okay maybe someone can answer this for me. I bought a 5 year/100,000 mile warranty from Reese Dodge in Lynbrook, Long Island, N.Y. In the past I had no problems with the coverage given. I needed several hundred dollars worth of work which had been covered by the warranty--but that was 2 years ago. I now have to have work done on the master cylinder. I now live upstate, NY and no dealer here will accept this warranty. Also the dealer that offered me this contract--Reese Dodge in Lynbrook--has gone out of business. I spoke to the salesman that sold me this vehicle--Ira, who now works for Merrick Dodge--and he informed me that he would try to help me by talking to the former owner of Reese Dodge when he saw him around. What are my options? I might want to add that for this warranty Ira--Merrick Dodge--charged me $1900.00 , which he informed me was a good deal. | |
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| He didn't inform you that the warranty could become worthless soon after you purchased it or that the Risk Retention Co. that "insured" the warranty was domiciled in the Cayman Islands. After all, you might not have laid out $1900 bucks had you known that. (Do you think he may have misrepresented the warranty to you?) | |
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