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Extended Warranties

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Comments

  • homesonghomesong Posts: 14
    Following the comments of the last poster,
    I checked out the GE site, but their policies are only available through dealers. Aaagh!
  • mitzijmitzij Posts: 611
    You have a 6 year old Buick that is a recent purchase. It's just begging for the old 'preexisting condition' denial of claim. There's also the 'insufficient service history' excuse. I had a service contract company require proof of oil changes for a window regulator! Another required 6 months of service records for an engine job-knowing that the lady had only owned the vehicle in question for about 3 months.

    Any contract you buy at this point will either: 1. Cost an arm and a leg or: 2. Have lousy coverage and worse service.

    If you're looking to get something fixed that is broken now, good luck. That's fraud, and they can usually sniff out a cheater pretty well.
  • homesonghomesong Posts: 14
    No...definitely no fraud intent!!!
    The vehicle was thoroughly inspected before purchase,
    and I don't know of any problems.
    But you do raise some important issues
    about "preexisting conditions"
    and "insufficient service history."
    Still, it is a local one-owner car,
    and it was well maintained,
    and CarFax indicates exact dates and nature of service,
    so that SHOULD help.
    Thanks for your input.
  • joel0622joel0622 Posts: 3,302
    I may have missed it but how many miles are on the Buick?
  • dtownfbdtownfb Posts: 2,915
    With 92k miles, is it really worth it to get a warranty? If the car was thoroughly inspected, i would take my chances and save that warranty money for any repairs. You are at the mileage point where things need to be replaced and I doubt any warranty will cover it.
  • mitzijmitzij Posts: 611
    I'll repeat myself:

    Any contract you buy at this point will either:
    1. Cost an arm and a leg
    or:
    2. Have lousy coverage and worse service.

    But, hey, it's a Buick! Those suckers are tanks, seem to run forever. Just keep your well-maintained hotrod well-maintained and you'll be fine. Preventative maintenance is the best medicine. Park the $2000 you'd spend on a contract in a savings account and take care of your car.
  • homesonghomesong Posts: 14
    Thanks to the last two posters for your advice.
    You make some very good points.

    The car I bought is a one-owner car (they only traded because they always trade every 5 years), has a clean CarFax record, and was religiously maintained at the dealer from which I purchased the car. And it IS a Buick - that's why I looked for it and bought it.

    Because of our financial situation, I DID have to finance it for 72 months
    (even after 6 years, it will still be newer than the 1991 Olds I've been driving!),
    and with our financial history I was fortunate to get a loan with a pretty good rate.

    I wish I had the $2000 to put in a savings account, but I don't.
    If I got a warranty, it would probably be through Carchex (a partner of CarFax),
    which includes Wear and Tear coverage.(I've been researching this pretty carefully, and have relied a lot on comments in this Forum). I'd have to take out a loan for that as well, but I can get one for $69/month.

    I could put that $70/month in a Savings account, and hope nothing major happens
    for a long time (it IS a Buick, and probably won't). But if it did, I'd have to take out a loan anyway. The trade off is the peace of mind a warranty would help provide - at least for 36 months.

    I AM seriously considering just putting about $100/month in a savings account, and hoping it will build up before I need it. But a GOOD warranty is still tempting.

    Any further advice would be greatly appreciated.

    Thanks.
  • mikefm58mikefm58 Posts: 2,882
    But a GOOD warranty is still tempting

    That does not exist for a car such as yours. Are you serious after the last couple pages of posts about 3rd party warranties? Why would you even consider one? Why even come here to discuss your situation?

    :bangs head against the wall:
  • dwynnedwynne Posts: 4,018
    They probably could have purchased a new Scion or Kia or Hyundai or even a Yaris or something for what they paid for this boat - and it would come with a full warranty for no extra charge. Getting the new car loan rate VS used care rate results in more money to spend. Or if that is still too much - get something like a used Accord or Camry - something that is not likely to break and/or has few enough miles to qualify for a manufacturer's extended plan.

    Financing something with no warranty and no money to pay for repairs is not a very good idea.

    Dennis
  • homesonghomesong Posts: 14
    1. Yes, I have read almost all the posts on this siteregarding warranties.

    2. I have come here because I trust the people here, and expect more respect from them than I do from the Warranty people, like the one who actually hung up on ME when I refused to put down $300 just to look at his contract!!

    3. The posts here have successfully steered me away from Warranty Direct, and from ANY companies that don't explicitly cover wear and tear in their contracts and from companies that don't work with the dealer but reimburse the customer.

    4. I am here because this is a major decision, and because the ONLY other person who posted a question here about Carchex never got a response.
    This company APPEARS to satisfy the concerns all the other posters have raised - wear and tear coverage spelled out in black and white in their comntract, dealing directly with the dealer, etc.

    5. So I am here in part to ask what others here know about Carchex and what their experience has been.

    Please don't bang your head against the wall TOO hard.
    I'm not ignorant, and I'm not trying to be a nuisance,
    but am simply seeking information and advice to make the very best and most informed decision I can.

    Thank you.
  • jipsterjipster Posts: 5,345
    The posts here have successfully steered me away from Warranty Direct

    Almost went with Warranty Direct...glad I didn't.

    Okay, we know who sucks. Is there ANY third party warranty company that anyone would recommend????
  • mikefm58mikefm58 Posts: 2,882
    Okay, we know who sucks. Is there ANY third party warranty company that anyone would recommend????

    I'm sure you know the answer to your own question.
  • mikefm58mikefm58 Posts: 2,882
    You bought a 6 year old car with 92K miles and financed it for 6 years. And now you're looking for an after market warranty after all the recent posts about how bad they are. And you're looking for one that will cover wear and tear for such an old vehicle. That in itself should be red flag.

    Can I interest you in a bridge I have for sale? It's cheap and just for you I'll let it go for a bargain. I'll also cover all repairs and maintenance as well.
  • homesonghomesong Posts: 14
    No, I'm not interested in buying a bridge,
    and I really don't care for your cynical tone.
    I've asked three times about Carchex, a partner with Carfax and Capital One,
    but you have failed to comment.
    Either in your omniscient state, you already know all about it
    and think everyone else should as well.
    Or, more likely, you've never even bothered to go to
    www.Carchex.com to check it out,
    so you could make an intelligent response
    regarding what specifically concerns you about that company,
    rather than brushing people aside with insulting remarks.
    I'm sorry...I don't know you...and I should be giving you the benefit of the doubt.
    But I believe people who post here deserve the same courtesy.
  • mikefm58mikefm58 Posts: 2,882
    I've never heard of Carchex
    and it's obvious from the
    lack of responses no one
    else has.

    Does that tell
    you anything?
  • homesonghomesong Posts: 14
    Uhhh...that people are too lazy to do their research?
    Or that they are prejudiced against anything they don't know anything about?
    Seriously...
    you HAVE heard of CarFax, haven't you?
    Well, go to CarFax.com, click on THEIR Extended Warranty link,
    and tell me where it takes you...
    NOW have you heard of CarChex???
  • tidestertidester Posts: 10,110
    I think we're veering a bit off topic and making it personal. Let's all take a deep breath and return to more civil discourse. :)

    tidester, host
    SUVs and Smart Shopper
  • homesonghomesong Posts: 14
    Thanks. I agree completely, and I apologize if I have stooped to uncivil discourse.
    I hate it when discussion gives way to negativity and personal attacks, and I'm sorry if I have become a part of that.
    I simply wanted some constructive feedback on a specific company, CarChex, a CarFax affiliate, and that's still what I'm looking for.
    Thank you for hosting this site, and for the helpfulness it provides.
  • mikefm58mikefm58 Posts: 2,882
    OK, sorry about that. My opinion and most here would agree that a car warranty is only as good as the company that backs it. "Most" if not all 3rd party warranties aren't worth the paper they're printed on simply because they're backed by some "Resource Retention Group" that is based in some off shore country like the Cayman Islands.

    That's why no one here will recommend anything but a manufacturer backed warranty, well except for Daewoo, LOL. As far as CarChex goes, if it's backed by Carmax then I'd say it's worth looking in to. But I don't know anything about it and don't have the time to fully research it, sorry.
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