Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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and I got all new parts not rebuilt or junkyard parts. I bought my contracts on recommendations from friends and I too have recommended them to others who have been very satisfied.
Les Keegan
Joe
Car_man
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Peter
I see numerous mitsubishi cars in there service lot all the time. These cars break enough on their own as it is......duh! :P
Also, it is so good to wrapping the total transaction, and to move on. Especially with manufacturer warranty, added into the car credit together with sale tax and other payments.
However, I agree with you is substance. I bought the WG warranty when my car was about 2.5 years old, with 30k or 32k miles - do not remember exactly. Had time to compare several warranties, and to find a good price. Also had time to see, how the car behaves, and to get the general idea about its reliability.
Thanks
1. A leaking intake manifold gasket, May 2001, $550, mostly labor.
2. A leaking oil pump gasket, November 2001, about $200 ($180?), also mostly labor.
3. Transmission was replaced in February 2002. $2300 remanufactured transmission + about $700 labor, minus return of the bad one, = $2300.
Total more than $3000.
We bought the WG waranty in June of 2000, while the car still was under the manufacturer warranty. Bumper to bumper with zero deductible. 6 year / 100000 miles. It cost about $1200.
Good pay-off.
No problems with approvals: every time get them immediately.
However, it was very difficult to get through to the administrator by phone with the first repair. My mechanic could not waste time to be hold on line. In result the car spent several days in the shop just waiting.
The WG switched to another administrator, and I had no problems at all with the last, expensive repair.
I am interested in WG but will purchase it just before my regular warranty expires.
Regards,
Joe
This gave me time to get a feel for the car's dependability, and whether or not I was going to keep the car or get rid of it.
To me...having the year or so gave me the time to really think about spending $1400 as opposed to dishing it out immediately. I know WG has a refund policy, but would it have been a seamless process for receiving my money back?
It just wasn't worth the 100 bucks in my pocket for possibly going through a hassle..
Did you read the other post by Shehadeh that bad mouths Risk Retention groups. I have a WD warranty and they are insured by a Risk Retention group as well. So why jump at WD unless you work for Warranty Gold...
As far as the Risk retention group, unfortunately, both companies are insured by a risk retention group, which has limited assets backing up the warranty that they sell. This might help you choosing the right warranty by looking at the back-up support beside the coverages. I am still looking myself to buy a warranty, once i find a company that are backed up by an insurance company and have a good product, i will post my findings.
Last year we had some problems with WG's claims administrator paying the entire labor charges, and when we spoke to WG about it, they reimbursed us within a week for the remaining costs. They explained they were having problems with their administrator and were extremely apologetic. Shortly afterwards, we received notification that the claims administrator had been changed.
I had a claim on Monday this week to replace the alternator on the Mazda, and we had no trouble having the repair covered as well as the towing. The only problem was not having AAA, because when I called to get a tow truck on the WG VIP 24 hour roadside assistance card, it turned out to be useless. First the person said that we would have to pay the tow truck bill ourselves. I asked if WG would reimburse us for it, and she didn't know. Then when I told her we needed a tow truck in Clearwater FL, she put me on hold for 5 minutes and then asked me if I could call her back in 5 minutes. I told her no because I was broken down on the side of the road with a 9 month old in the car and couldn't wait. I called the car dealership and they recommended a tow truck service which worked out well because they billed the car dealership for the tow and WG paid for it without any questions.
Now I am looking to get another new car because my Mazda is starting to break down too much. With the next car I buy I will get another WG extended warranty (when the car is almost out of mfr. warranty-->1 month and 1,000 miles remaining is the limit I think to get a New Car warranty with WG).
Exhaust systems are covered by separate warranties. A manufacturer must guarantee emissions compliance for a period (usually) of 5 years. For the most part, this covers everything up to and including the catalytic converter. In addition, the parts that do not affect the emissions, such as mufflers and pipes, are considered "disposable" because one of the byproducts of complete combustion is steam, and the water in the exhaust will eventually cause some rust.
kcram
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THANKS!
At the time, I only half believed that WG was seriously interested in customer service. I had already resolved to never again buy their product. Then about a month ago I had to take the other vehicle in for service. It is a ’96 Taurus SHO, not cheap to repair. The estimate was about $2000. I half-heartedly gave the WG info to the service rep, expecting more problems. I was amazed at the results. WG negotiated some of the prices, and then paid a good portion of the bill—with no hassles!
I am now a satisfied customer. WG has treated me like a customer they want to keep, and I apologize to Jeff Tobias & associates for doubting them. Car dealers get a hefty commission for selling their add-on warranties (why do you think they try so hard to sell them?), so you can save $200-500 by buying WG instead. I will use them again when I buy another used car, and I have recommended WG to my son, who has just bought his first car. I have had no experience with other non-dealer warranty companies, but I will now recommend WG to anyone.
Joe Williamson
If you have, had any problems?
1 Honored by shops and dealers?
2 Payment direct to repair shop?
3 Customer Service ?
Good luck with your decission,
Spyderred
Thanks for your input, I will consider the
1 source warranty.
jsleesi
The warranty was about $1300, but a similar warranty from GM was $3700!
I've had a WG policy on my wife's lease car, and when we decided to turn it in, WG was great to work with for the refund.
I'll let you know how it goes when my GM 3/36 warranty runs out.
Joe
Last week the part that moves the seat back on the passenger side snapped. I took it to another dealer with whom I had dealt before. I didn't even ask about the warranty (never occurred to me)...he called on his own because he had my information previously and got the approval for the repair. Needless to say we are delighted. The new engine alone was $4400 plus the rental. We got our money's worth!
I contacted the new WG administrator prior to the service being done to "test the water". The rep was courteous and helpful, and assured me any valid claims would be approved and paid in a timely manner. The shop called with the diagnosis and the administrator approved the claim without any trouble at all ! This kind of hassle free service is why I bought the contract in the first place.
Thankyou to Warranty Gold and their new administrator. Please keep up the good service.
I'm down to 1Source or Warranty Gold and I would just like to get it over with. I bought a new car for 28k so I don't mind the extra money for a warranty. My issue is the hassel of the claims process and the quality of the repair process.
Who would want rebuilt parts on a car that might only be three years old plus a day?
The GM dealers are clearly well trained in knocking third party contracts but you can't call them objective either.
With all this said any comparisons between the these two major third parties or any other insights are welcome.
Very unlikely that anyone, manufacturer or third party, would warrant a car with a salvage title. Passing state inspection simply means it is safe to operate on the street - it does not mean anyone is standing behind the quality of the original materials and workmanship, which are pretty much invalidated by the salvage title. Generally speaking, if a car is "salvaged", it was at some point damaged past the point of being operable. No matter how good the repairs may have been, you can't reasonably expect a company to warrant the original materials, because A) they are either gone, or
kcram
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I am one of the satisfied WG customers. I have had 4 claims approved so far totaling about $3k. I paid $1400 for a 5yr/150k policy.
My last claim was at 79k miles. I currently have 133k. So its been a while. Maybe they have gone downhill?
The warranty was about $1300, but a similar warranty from GM was $3700!
If you buy the warranty from an unethical dealer, I suppose you could pay $3700. I bought an OEM Ford Extended Warranty on the internet from some Ford dealer in Iowa for hundreds less than the local dealerships were quoting me. For a Ford Explorer/F-150 4x2, a 100K/60month/$50deductable top of the line PremiumCare plan goes for $1170. A 4x4 costs $1400. It's an extra $100 if you buy the warranty after the car has 5,000 miles on it.
For me, I'd rather have an extended warranty that any Ford dealer has to honor. I never have to worry about getting in the middle between some claims clerk and some dealership employee. I never have to worry about the warranty company going out of business. It's an insurance policy and, like other insurance policies, the premiums you pay may be higher if you're with a higher-rated insurance company. I keep all my car/house insurance plans with Amica because they're the highest rated insurance company by Consumer Reports. I could pay less but I don't since I care about service and the stability of the insurance company.
2. Like I said before, if you want to ONLY take your vehicle to one dealer or one brand of dealer, then the factory warranty is OK. However, if I am stuck in Tumbleweed, Nowhere, and need it, the Warranty Gold or 1Source warranties are good at any professional shop that uses ASAE mechanics, and will accept their corporate credit card. In addition, how slow do you think some Ford dealers were when the home office announced that free tire deal last year? Many dealers were so swamped, you HAD to have an appointment to get your vehicle serviced. In a situation like that, do you think it would have been easier for a Ford owner to be able to take his or her car/truck to an independent shop? Sure it would!
3. As for Amica--I just bought a new house, and coincidentally, called Amica for an estimate for a new homeowner's policy. They turned me down because they said there was a $20,000 claim against the house in 1998. Why that would affect me, I have no idea, but that was their excuse. I checked with two realtors involved in this deal, the original owner that was in the house in 1998, and an insurance broker who had access to the same database as Amica. There WAS no claim, but Amica refused to cover the house. Now, do you see how computers and insurance companies can mess with your life? Amica is probably no better than the administrators at Warranty Gold or 1Source--they are only as good as the information they have to work with. If you think you will "never have to worry about getting in the middle between some claims clerk and some dealership employee," you'd better hope they always have accurate data in their files.
4. Another thing--bankruptcies were a problem for extended warranty companies years ago. Now, most states require them to set aside cash reserves with an independent company to pay out claims if they go belly up. That is the case here in Texas, but you may want to check your state to see if this applies.
5. Finally, as for the claims made by other people in this and other forums, no, I have no connection with Warranty Gold, Edmunds or 1Source. I work for the Air Force, and have also served on active duty for many years. I do, however, feel sorry for people that are so cynical, that when anyone has anything good to say about any company in this forum, their suspicious nature makes them think it must be false or planted information.
Joe
It clearly states:
QUOTE:
Coverage begins with the original in-service date (warranty start date) & zero mileage. Coverage expires upon reaching your selected time or mileage, whichever occurs first. Some eligibility limitations may apply. See dealer for complete plan details. UNQUOTE
So, your first three years of 'coverage' really don't exist at all. You actually bought two years of coverage.
What that means is that I paid about $217 per year for six years ($1300 divided by 6= $216.67/year) while you paid $1170 for two additional years of coverage, which comes out to $585 per year.
Which do you think is the better buy?
257 Park Avenue South
New York, NY 10010-7384
(900) 555-4222
WARRANTY DIRECT
333 Earle Ovington Blvd. #700
Uniondale, NY 11553
View Location Map
Original Business
Start Date: 1/1/1994
Local Phone Number: (800)632-4222
Fax Number: (516)222-1818
Membership Status: YES
TOB Classification: AUTOMOBILE WARRANTY PROCESSING SVCE.
Web Site URL(s): http://www.warrantydirect.com
The information in this report has either been provided by the company, or has been compiled by the Bureau from other sources.
BBB Membership
This company is a member of the Better Business Bureau. This means it supports the Bureau's services to the public and meets our membership standards.
Program Participation
This firm participates in a special BBB program to help resolve consumer disputes. To better assist its customers the company has agreed to special procedures including mediation and arbitration if necessary to resolve complaints.
Nature Of Business
This firm is a warranty processing service. The Bureau's file opened on 01/01/1996.
Customer Experience
The Better Business Bureau generally rates a firm as either having a satisfactory or unsatisfactory record. This firm has a satisfactory record. To have a satisfactory record with the Bureau, a company must be in business for at least 12 months, properly and promptly address matters refered to it by the Bureau, and be free from an unusual volume or pattern of complaints and law enforcement action involving its marketplace conduct. In addition, the Bureau must have a clear understanding of the company's business and no concerns about its industry.
The principals of this company are also principals of Interstate National Dealer Services Inc. The BBB has a separate report on that company.
The company's size, volume of business, and number of transactions may have a bearing on the number complaints received by the BBB. The number of complaints filed against a company may not be as important as the type of complaints, and how the company handled them. The BBB generally does not pass judgement on the validity of complaints filed.
Closed Complaints
Total number of complaints processed by the BBB in last 36 months: 29
Total number of complaints processed by the BBB in last 12 months: 9
Complaints Concerned (Please understand that complaints may concern more than one issue)
Advertising Issues: 2
Credit/Billing Issues: 11
Failure to Provide Service: 6
Warranty Issues: 9
Failure to Provide Promised Adjustment: 5
Selling Practices: 4
Outcome of all complaints
Full Adjustment: 20
Partial Adjustment: 3
Disputed: 6
Additional Phone Numbers
(800)632-4222
Interesting, many complaints about 2/3 satisfied.
Is it worth the hassle to buy a warranty???
Of course, PAman is frothing at the mouth merely because I have a different opinion... I prefer to buy my extended warranties from the automobile manufacturer because:
*I want the dealer to honor the insurance policy with no hassles.
*I have no concerns about the financial stability of the warranty company. This is a particularly big deal with something that is sold over the internet with a 5+ year duration.
This has nothing to do with the stability of "Warranty Gold" and that's obvious to even the casual reader. Lighten up and go find something else to flame about.
i spent a lot of time researching ex warranty companies. in the year that i have been researching for my different cars, both Warranty Gold and Warranty by Net have changed the companies on their contracts that you have to call when you want to file a claim. i have been told by two warranty companies that Warranty by Net is in legal trouble with the last company that was paying it's claims.
what happens when you need a claim paid and the Warranty company is not being backed by the same company a year later?
As for allegations or suggestions that WG or other warranty companies may go out of business, you were the one who wrote "I never have to worry about the warranty company going out of business." At the very least, it seems to even a casual reader that you raised the issue as a concern.
Joe
For example I purchased a 5yr/150k policy about 3yrs ago at 35k miles. Does this mean my policy is good for another 2yrs/185k or 1yr/150k?