Comments on: Buying a Car Extended Warranty

By: Joseph G

Joseph G — Mon, 16 Jan 2012 01:15:56 +0000

Mose experts agree that extended warranty is most often a waste of money especially if purchased with the car so you are paying interest on top of the cost of the plan. Get a good VIN check of the car prior to purchasing. Even on the off chance of a major repair it will more often than not cost less than the $3500-6000 extended warranty. Many extended warranty companies have very bad reviews.

By: aldrin roget

aldrin roget — Mon, 08 Aug 2011 19:46:18 +0000

hello i’ve been in the car business for over 15 years in the “us” and i’ve done alot sales ,f&i sales manager i even owned a used car lot fora while i now live in the caribean and there is no warranties for new or used of any kind ,i’ve spoken to several of my warranty contact an no one offers a program for here so i would like to start my own there are a couple of large insurance co. who are able to under writer the polices what type of information should i be looking for to sell the idea to the under writers any help will be great a total of 25k cars are sold a year 15k new 10k used mainly used cars bought from japan thanks

By: oti

oti — Mon, 16 May 2011 22:27:05 +0000

I bought a used car late last year for about 18 grand,including $1,800.00for 3 years unlimited miles extended warranty.after reading some reports on consumer report to b specific,i realize that if the car needs some repairs i will take my chances and pay out of my pockets.i did cancel it thinking was going to get back 15 hundred or maybe 14…..only $1,116.for less than 6 months they are keeping nearly 700.00 of my hard earned greens,to me it sounds like a rip off.i will file a complaint with the BBB,they got me but i am not going down without a good fight.first time and for sure d last.open your eyes before buying this bull****.it not worth it,only d dealer wins.

By: Gus

Gus — Tue, 29 Mar 2011 15:46:50 +0000

Jim Ellis Mazda of Marietta, Georgia tried to sell me Fidelity Warranty which I am now learning is practically worthless. Why would a reputable dealership sell such a worthless policy. I think this is the worst thing they could do and ruin their reputation. It makes no sense to me in this day in age when everyone is reviewing these things online and sharing information with one another. I don’t trust a dealership that will treat its customers this way and try to sell them garbage.

By: Robert Fuller

Robert Fuller — Sun, 27 Mar 2011 17:15:08 +0000

I purchased a Chevy Tahoe 7 years ago and bought the extended warranty on the basis that if the AC, the 4WD or electronics needed to be repaired/replaced it would easily cover the cost of the warranty. The dealer offered 50% back if I never used warranty. So if for example I had a $250 repair I paid for it myself. I had to request the refund within 30 days of the extended warranty expiring which I did, and received a check for $850.00 I’m sure some people forget and miss out on the refund.

I’m now in the position of buying a new car, and the dealer/brand doesn’t offer the same deal, so I’m very reluctant to take on the warranty.

By: Tony

Tony — Sun, 09 Jan 2011 19:49:58 +0000

Listen, I just purchased a new Dodge vehicle. The dealer offered me a 7 year 85,000 mile service contract. he states the if I do not make a claim in the life of the contract, I get every cent back! However, the chances of not making a claim are small, which is why they offer this deal. If the check engine light goes on[and it will happen more than a few times], they will find an oxygen sensor or something else to be repaired, for $350.00, and is covered by the warranty, but say goodbye to any money coming back to you. My prior car, a Nissan Altima, had an extended service contract, and i had to replace the fuel pump twice, which was coverd by the contract. However, each occurrence would have cost about $500 to fix for a total of $1000. I spent $2000 for the extended service, which means they still came out ahead.

By: td

td — Wed, 03 Nov 2010 04:52:50 +0000

I work at a dealership. I have been in the finance office for about eight years. been in the auto industry for about 26 years. Ive been all levels of the industry and founf that the finance office is the most enjoyable for me.

Buying an extended warranty is a tough choice. f you are dealing with a reputable dealer they will only offer warranties that have cash refund. All manufacturer warranties are refundable. Wether it is prorated or not is in the provisions. All VW warranties have a full price refund available.

When I am selling warranties I always try to find out how many years you are planning on owning this car as well as how many miles you plan on driving per year. This way the warranty coverage is right for you and you are not spending to much for coverages that you are never going t use.

Also, when buying a car new vehicle warranties are less expensive than two and a half years later. The amount of money you can save buy purchasing the warranty at the time of the sale could make up the differencr of the prorated cancelation charge if you decide you do not need the warranty down the road.

The best thing to do is have the dealer show you(not tell you) the cost of a two and a half year old vhicle warranty. Tgis may hep you determine the right way to go.

I alsp know that alot of third party warranties are offered. Buyer beware. If it is a used car dealer DO NOT BUY THEM. New car franchise dealers are held to certain level of expectations by the manufacturer in order to maintain the franchises. majority of the larger dealers use Zurich(Universal Underwriters), Fidelity Warranty Services(JM&A Marketing) and Southwest Dealer Services. Those companies are great because the dealeractually owns a percent of the claim process as well as the profits generated by the sale of the coverage. Because they own them they are more likely to cover questionable claims because the state insurance commision office enforces the policies ver stricty.

Used car dealers do not have these restriction by the franchises so they operate alot more loosley.

Third party warranties can often be alot less expensive and sometimes even cover more than than the manufacturer warranty does. Make sure the finance office explains them very clearly to you before making your decision.

HOPE THIS HELPS

By: TFB

TFB — Fri, 18 Jun 2010 21:22:54 +0000

I would go by what I wrote in this post. Take your time to know your car better. Make a decision at the two-and-half-year mark. Shop around if you still want the extended warranty then. 20% off is not that much of a discount.

By: c.Kuehn

c.Kuehn — Fri, 18 Jun 2010 20:34:00 +0000

Clarification I have the 3 yr or 36,000 miles covered because it is new.

By: c.Kuehn

c.Kuehn — Fri, 18 Jun 2010 19:00:20 +0000

I just bought a new Volkswagen EOS.I have until Monday June 21 to decide weather or not to buy one of the Volkswagen extended vehicle protection with a 20% savings off of the regular dealer price. After viewing the posted comments I’m really not sure what to do now. I do have the 1,000 mi or 3 yr covered because it is new. So even with the 20% savings you think I should still wait and buy a plan later?