Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/22 for details.
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A 3/36 service contract might come in handy IF it pays for rentals and your dealer does not give you a loaner (most dealers do give loaners when requested up front).
Also pay attention to how much rental coverage there actually is. Most contracts require a certain number of 'billed labor hours' before paying for a rental. For example, if your transmission goes out. That's about 10 hours labor (number from my head). Your contract pays 1 day for every 5 billed labor hours. That's two days rental. Naturally, the shop has to order the transmission, so there's 3 or 4 days wait just to get parts. Service contract won't pay for that 3 or 4 days. Just 2. You foot the bill for the rest, including any weekends involved.
If you're planning on buying a new vehicle in a few years, chances are you won't reap the benefits of a service contract. Transferring a service contract is easier said than done, some I've read require the owner to provide proof of all maintenance done in addition to a $50 or $100 fee.
As for the 'car buying tips' website being advertised, that guy gets paid every time you click on a link to his favorite service contract companies. That's why he backs them, NOT because they are so great. If you follow his 'advice' and not go with any service contract company whose insurer is not rated A, you can't go with Warranty Direct or One Source. WD's primary insurer is not rated (last rating was B-, WD requested to not be rated anymore) and One Source's primary has no rating due to lack of information.
If you want good, solid advice, stick with Edmunds. Many of the people here are knowledgeable and want to be helpful. The site itself is very handy.
(and No, I didn't get paid to say that) :P
2016 Audi A7 3.0T S Line, 2021 Subaru WRX
You might be able to dispute the decision, try going up the ESP's chain of command, or find the previous owner and get him to cough up copies of his old records.
These companies do know how to write binding contracts, however, they're reaaaalllly good at it.
I pay 120 down
Next month I pay another 120
2 weeks later my Engine blows a head gasket.
Repair cost 1,000
they technically have 240 of my money on a 1,400
will they want 1,000 in total monies before they make the repair???? Any Ideas.....not trying to sound paranoid, but I learned a couple years back that once they have you money you won't get it back//////
I was just thinking of a way to protect yourself from them having your full plan price monies, and then putting you through the ringer and/ or having trouble getting repairs or a plan refund....I guess them wanting you to pay it off in a years time kind of tells you that would give you trouble within say the first year? with any repair that exceeds the plan price...I called 1 source and they are very shady on reqirements on used cars (1999 with 68K) as far as inspection...what I understand is that you either wait 30 days AND 1,000 miles.....OR have it inspected for $195.00 cost to you......BUT if it fails inspection......YOU have no coverage at all...the only benefit to inspection is it would seem they would be less likely to deny a claim, because they had it inspected by a company that has interest in THEM, so that gives them peice of mind...I suppose. Is it Naive to think a company will sell you a protection plan without ever laying eyes upon the car...? Any Ideas?? Sean
If you've driven 25k miles in 3 years, and you're planning on selling your hotrod in less than 3 years, you aren't likely to be out of the manufacturer's bumper to bumper warranty when you sell it.
An aftermarket service contract has as much selling power as a little green tree air freshener. You might get a little extra out of it, but a well maintained, nice looking low mileage 2 or 3 year vehicle is going to get decent money anyway.
Having the car detailed before putting a 'for sale' sign in it will get you just as much, if not more of a boost in revenue.
Yesterday....my timing belt jumped a tooth. Started and clacked like heck. I shut it off w/i 5 seconds, tried to restart after checking oil, hard to turn engine. Hope it's just a belt....
I need to contact T3 automotive...how do I get in touch?
I am considering this warranty but DH says no we will just take our chances and if car has major problems then we pay. We of course traded in car that was out of warr so if things had gone wrong on it, we would have had to pay. His feeling is we are in about the same boat, used car for used car but I am worrier. The previous owner did say he knew of no problems and had oil changed and tires rotated every 5,000 miles which most of miles on car are highway miles.
Any recommendations on these Toyo dealer offered extended wrap warranties??? :confuse:
Car_man
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Smart Shopper / Prices Paid Forums
Car_man
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Smart Shopper / Prices Paid Forums
In this forum, I see references to quotes from toyotawarranty.com.....Has anyone ever purchased a contract from that site?
tks
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I know folks that got burned by the Warranty Gold bankruptcy and those (like myself) that bought from them over the internet got nothing. But I've heard of folks who bought Warranty Gold through a dealer that were able to get the dealer to back things up somewhat.
I put a lot of miles on a car each year and with the past two cars I've owned I had to pay $500 to replace an alternator at 70,000 miles (3 years of driving) on my 99 Cougar and then had some A/C problems at 110,000 miles and another alternator and tension pulley. With my 91 Escort my first problem came at 115,000 miles (4 years of driving) with a water pump & alternator. I now have a Freestyle, but I'm thinking about an extended warranty, but in the way I'm driving (17,000 miles is 7 months) I'll probably run out of miles before years in any extended warranty. For the cost of the extended warranty, I'm wondering who out there has ever used it.
To me it seem like your paying for insurance to cover any problems that happen between the end of the factory warranty and 60-100K miles and in my If there was an extended warranty out to 150K miles it might be worth it to me. But in the past, I've only had about $500 worth of problems before 100K miles. I just think that with most new cars only needing a tune up at 100K miles, then the extended warranties should go out farther. I just can't see paying $1000-$2000 for an extended warranty up to 100K miles, but maybe I've been lucky in not having any major problems prior to 100K miles?
It just seems to me that extended warranties are just another scam to make the dealer or after market company some money. If they paid out more then they collected they'd be out of business, so that means on average they collect more than they pay out, so that on average people don't use the warranty. I guess the same could be said for any insurance, but to me a home owners or life insurance is more critical to really have, but if over the course of my life I have to pay $3000 one time for a transmission that went bad at 70K miles because I didn't have an extended warranty, then I figure I'm still ahead because I'm saving at least a thousand dollars on each new car that I don't buy an extended warranty. So far I'm up about $4000 because I didn't buy an extended warranty on my last three cars, so even if right now I spend $3000 on a repair I'm still up $1000....at least that's how I do my math!!
That's all an extended warranty is, an insurance policy. And remember, on a manufacturer backed policy, the labor rates are less for the manufacturer and they're using their own parts. A $2K transmission to you and I costs them a fraction of that to put in.
Car_man
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And while it's similar to insurance, there is a difference between paying $500/year for car insurance to cover a $25000 vehicle against a total loss, then paying an extra $1000 for an extended powertrain warranty to 100,000 miles against the possibility that I'll have a few thousand out of my pocket in the unlikely event that a major powertrain repair becomes necessary between 36,000 and 100,000 miles.
But you're right that it's good for the risk adverse even if the risk is small. But to me it's almost like spending $2000/year for car insurance on a car worth only $5000.
I am looking for examples of extended warranty plans that have provided a benefit to the consumer. Good experiences people have had with any company and recommendations about which companies are likely to be in business over the term of my contract.
Does anyone have any good warranty experiences with any companies to share?
It is best to check with the dealer where you will have your car serviced to see what they would recomend. It may not be the cheapest, but if you know in advance that the dealer will accept it, then you should be safe.
It's those mysterious warranties that are backed by some shell corp in little obscure caribbean countries that end up screwing people.
This is not an endorsement of Easycare. My opinion of service contracts stands.(see published works)
I'm just reporting my experience dealing with this company as a repair facility.
There is also a cap on labor rate. I haven't hit any company's ceiling on rate, as I'm at $48.00 per hour.
I haven't had Easycare try to send me a part "from the warehouse", but other companies have. One was willing to send me an alternator for a guy's truck, or pay me $120.00 towards the purchase of a GM alternator (which has lifetime guarantee, cost was several hundred dollars). The customer wanted the GM part. He had to pay the difference. My boss tells a story of one service contract company that kept sending junk transmissions (2 or 3) for a guy's vehicle until they finally caved and let us put in a GM tranny.
These limits are always in the contracts.
That's why I recommend, to anyone who wants to buy a service contract:
Read the Whole Contract until you understand it.
SUBARU WON'T DO IT (BECAUSE THE CAR IS OUT OF WARRANTY RIGHT NOW).
ANY IDEA, PLEASSSSSSE?
CRISTIANA :confuse:
turbomojo
Would I recommend them? Yes, I believe I would. They rarely sweated the smaller stuff.
Example 1800-521-9922 for DaimerChrysler Service Contracts.
Appreciate any advice, Scot
- Tie rods began failing at 60K
- Door lock actuator at 62K
- Transmission at 70K
- Heater hose bundle leaked at TEE at 65K: a known Windstar issue, considered 'wear and tear', VERY expensive fix not covered.
- ...other stuff can't quite remember 'em all.
1Source Warranty cost $1485/$0 deductible for 84K and 7 years.
Am I wrong?