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Smart Shopper Auto Warranty Broker
108 messages, Last post on Sep 20, 2008 at 4:15 PM
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My sweet mother-in-law bought a 2005 Honda CRV in May,2005. She doesn't drive very many miles a year so she decided to buy the extended warranty, 6yrs/75k. She hasn't even reached the period that the extended warranty would start. She got a letter saying API, the company that she got the EW with, went bankrupt. What if anything should she do? I was surprised that they didn't sell her the Honda Care Warranty. Does the dealership have any responsibility here?
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Replying to: 8sparkplugs (Aug 02, 2007 6:11 pm) In other cases where a SCC went under, some dealers have paid claims out of thier own pockets, some have done partial payments, others say 'tough luck'. Next time, tell her to skip the service contract. In the 10 years it'll take her to drive 20,000 miles, she is unlikely to use it. Her biggest problem will probably be a crapped-out battery due to lack of driving. Batteries aren't covered by service contracts.  Dealerships sell third-party contracts more often than mfg-backed ones for one reason: money. They make more profit off third-party ones than mfg-backed ones. My former F&I guy would 'advise' against GMPP, even though he knows it's a superior product.
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Replying to: mitzij (Aug 03, 2007 3:40 am) Spend a couple hundred extra and get the factory service contract. Though now days with the longer factory warranties the after markets are usually more expensive. When Ford went to 5yr/60K standard Powertrain warranty my service contract prices dropped an average of around $400. Also if an Am warranty is extremely inexpensive there is probably a reason why.
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I've seen some aftermarket contracts that cost MORE than GMPP. I'm constantly amazed at what people get themselves into. (I make a habit of reading customers' contracts when they give 'em to me) |
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Replying to: joel0622 (Aug 03, 2007 4:02 am)
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Replying to: jipster (Aug 03, 2007 6:17 am)
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Replying to: joel0622 (Aug 03, 2007 6:32 am) I have yet to get anything from them in the mail about getting my van serviced or buying any of their preowned cars. Maybe, it is because they screwed me out of my "free tires for life" and they knew what the answer would be. Who knows. |
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Replying to: thaitravellr (Jul 09, 2007 4:30 pm)
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Replying to: volvomax (Aug 06, 2007 4:51 pm)
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Replying to: luvmybenz (Aug 07, 2007 8:11 am) Great Lakes' contracts have more loopholes than a giant rollercoaster. There is a ton of room for them to wriggle out of payment. Their claims process is a joke. For one claim I had to deal with, they insisted on supplying an alternator 'from our warehouse' instead of giving the customer a choice between OEM and aftermarket. They got a rebuilt piece of junk instead of a reliable part. (that had to be replaced a few months later) Getting approval is akin to having teeth pulled. On every claim I've handled through them, I had to wait more than a week for payment. (a decent company pays same- or next-day) Several times when I would call (when I didn't get voicemail, which never got answered), the associate would literally say 'let me see if I can find the credit card'. That mickeymouse behavior is not the kind I would recommend anyone subject themselves to. If I haven't convinced readers against it, and you must have a great lakes 'warranty', they have their own website and you can cut out the middleman at TCB. There's no sense in spending more money than you feel you must. Personally, I'd take that $1500 you'd blow on a service contract and save it. (or go to Vegas-at least I'd have fun while pouring my money down the drain)
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