I have done a lot of reading over the last couple of weeks about extended warranties, I am one of the WG customers who lost everything, my vehicle is out of manufacturers warranty so I don't believe that I can get a factory warranty. I have not been able to find much information on the following companies, any positive or negative feedback would be appreciated
Well, both websites are very vague. There is no mention of who backs them. Is there a risk retention group involved? Do they pay for OEM parts? There is no link to view the actual contract. Neither sounds like a winner. As a service writer, I haven't dealt with either company. If getting burnt by warranty gold didn't cure you of the desire to have a service contract, call each company, request copies of their contracts and read them. Twice. One of them promises a full return of your money if you never use the contract. Make sure that statement is in the contract. If you've read my other posts, you know my views on this-you're better off using a savings account as your 'extended warranty company'
Has anyone purchased a warranty from this dealer in Mass. ? They have offered me a good price($1050) to insure my 03/TL with 48000 miles??? My local dealer (Gunn Acura ) are asking $1800 dollars.... big Difference.. Please tell me if you have had anydealings with Curry Acura or honda in Mass.
Make sure both dealerships are offering the same plan, then see if the local dealer (where you probably want to take the car for repairs) will match or get closer to the other's price. That's a big difference in price, so I wonder if the $1050 is for different coverage, or an aftermarket company's plan.
Acura probably has different levels of protection with their service contracts, something like 'gold' 'premium', and 'extra care' Make sure the protection level is the same for both, and the deductible is the same.
I did checkout the website you suggested www.gmoutlet.com/gmpp/htm I purchased a GMPP warranty for 48 months/48,000 miles for about $600 less than I had been quoted anywhere else. Thanks for the great advice, I hope it helps someone else too.
Just bought a 2002 Volvo on the internet, 25,500 miles. I have another 25,000/2yrs left on the original warranty. The car was a rental car so I really want to get an extended warranty. I've read through most of the posts on this board and it is difficult to come to any conclusion. Does anyone have any advice as to what to do? Reputable warranty companies? Thanks!
Hi bkmstr. I always advise consumers who want to purchase extended warranties for their vehicles to purchase a policy that is officially backed by their vehicle's manufacturer. Since your Volvo is still covered by its original factory warranty, you should be able to purchase a Volvo Increased Protection (VIP) policy for it. Volvo's offers two different types of VIP plans:
The Stated Component Plan Enrolling in the VIP Stated Component Plan means you're covered against defects in materials and workmanship on many major vehicle components. The Stated Component Plan includes towing through On Call and offers rental car coverage of $30 per day for up to six days on covered repairs. And the plan is transferable to the subsequent owner when you are ready for your next Volvo.
The Totalcare Plan Your TotalCare Plan is designed to protect you against defects in materials and workmanship on just about every component of your vehicle. The TotalCare Plan also includes towing through On Call and offers rental car coverage of $30 per day for up to six days on covered repairs. And, the plan is transferable to the subsequent owner when you are ready for your next Volvo.
Pick the plan that best suits your needs and place a call to or e-mail a number of Volvo dealers to see what sort of prices they are charging. Remember that you can purchase this plan from any Volvo dealership, not just the one that you plan on having your service performed at. Having said this, it might be a good idea to give the dealership that you will use for service the opportunity to match your best price quote.
I have a 2001 Highlander and the 3 yr warranty is expiring in September 2004. Does anyone have info regarding Toyota Extra Care warranties at reasonable prices?
I agree with car_man....buying a warranty that is not backed by a manufacturer is risky at best. You may pay more, but it is worth every penny if you have a claim. I have seen alot of non mfg warranty companies come and go. Ford, which owns Volvo, isnt going anywhere.
Hi kato8. I'm glad to see that you are considering purchasing an official Toyota extended warranty. I have heard very good things about Toyota's policies. I do not have a specific Web site that you can use to purchase one of these policies at a reduced rate for you, but I can tell you that in most states the prices of extended warranties are negotiable. Make sure to comparison shop with several dealerships via e-mail or phone for the level of coverage that you are interested in. Once you have received a few quotes, give the dealership that you plan on having your service performed at an opportunity to match your lowest price.
I have been reading the posts here, and I must say that for a noob like myself, this board has helped me tremendously. Thanks to y'all for all the knowledge that I have gained.
I am in quite a situation now. I recently bought a 2001 Nissan pathfinder LE from a dealer. The car was not certified. I also bought the Nissan Security+Plus extended warranty from the Dealer. Since the car was not pre-certified, the best I could buy was the Pre-Owned+Plus. I also went ahead and purchased a $0 deductible extended warranty from Warranty Direct thinking that I will cancel one of them before the trial period ends. Now that I am almost at the end of the 60 period, I would appreciate some help from all of you in deciding which I should retain. It might appear to most of you that I should definetly go along with the Nissan Warranty, but there are some important things that this warranty does not cover, like the Heater, CD Player, Rear Window Defroster, and a few other things. All these things are covered by Warranty Direct though.. Also the warranty period with Nissan Security+Plus is a 4 year 48000 mile, whereas with Warranty Direct it is 5 years / total of 100,000 miles on odometer. I paid about the same price for both these warranties, so I am very confused as to which I should choose. Could you please help me with this issue... All help is greatly appreciated.
I'd go with the Nissan plan. Nissan isn't going out of business anytime soon. WD, however, is on shaky ground, since it's reinsurer is a risk retention group that is in bad financial shape. Please read the threads relating to warranty gold. They were reinsured by the same company.
Thanks for the information, very helpful. I would feel more comfortable with the extended warranty from Volvo. I made a call today to a Volvo dealer, the warranties certainly dont come cheap! Much more expensive than the other services. I think I will email a number of Volvo dealers for a quote and take the lowest quote to my local dealer as you suggest to see if they can match it.
People rely on this forum to get accurate information. Warranty Direct is financially stable and is selling agreements in record numbers. Not only are we selling in record numbers, take a look at our customer service record. Quite simply, they are unmatched by ANY company offering extended coverage.
We are not now, nor ever have been insured, reinsured or associated with Warranty Gold in any fashion. You should get your facts straight before posting misinformation.
Thank you
Randy Downs Director of Sales and Marketing Warranty Direct
I will not respond to any further misinformation in this forum. I urge anyone wishing information to contact any of the professionals on my staff. They would be happy to discuss any of these matters with you factually.
Financially stable an aftermarket *warranty* company is, they do not, and will never have your best interests at heart. Always try to buy a manufacturer backed ESC, they are certainly financially stable and will have your best interests at heart considering you are most likely driving one of their brands and they want to keep you happy.
We considered a Warranty Direct ESC for our 99 Dodge Ram because we could get a longer ESC for the price we paid for the one we bought at the Ford dealer (truck was bought used) that is 24 mos/24k and backed by Ford.
Anyway, we asked at the Dodge dealer about Warranty Direct and were quickly told to run, don't buy it they are horrible to deal with. To date the Ford backed ESC has paid for a steering gear box to the tune of $850, no muss no fuss. Still have 17k left on the ESC too.
boy we have heard that before. The largest aftermarket warranty company in the country went out of business last year....leaving millions of people and dealers holding the bag. The so called insurance company designed to back up the warranty if the company goes under ended up being worthless also....try to collect from them in the cayman islands.
anyone who buys an aftermarket warranty, should have their head examined....as a dealer we can make double or triple the profits by selling a non-manufacturer brand warranty. This is a tremendous amount of profit potential but the headaches in service are endless.. we don't want to be left holding the bag like some other dealers out there. In the past 20 years I have seen so many warranty companies come and go it's almost laughable.
Manufacturers have a strong interest in standing behind their warranties, they want consumers to buy another car. what does an aftermarket warranty want consumers to do other than make no claims and buy another warranty?
Warranty Gold and Warranty Direct had the same parent company until 2002, when WG was sold. WG then went bankrupt, taking thousands of customers to the cleaners. Warranty Direct is reinsured by Nation Service Contract RRG, which was last rated by AMBEST a B++. Now, the rating is NR-4, which means AMBEST has a different opinion of their financial stability than WD has. Surprise, Surprise.
As for your customer service record, I can't find anything published that shows. However, there are several people who are unhappy with WD's customer service who have posts on this forum. There are happy people, too, but not a majority.
After swimming through the posts in this group I noticed that the opinion reference pool is not too incredibly deep and seems to consist of several people who are very negatively vocal regarding 3rd party warranties. I would like to state my POSITIVE experience regarding extended warranties. I purchased a 99 Suburban and financed through my local credit union. I looked at several warranty plans available at the time. The credit union offered a plan through CUNA Mutual Group called "Members Choice Auto Care". Cost was $1200 for 0 deductible platinum coverage. 9 months after purchase I had a coolant leak and ended up getting the seals replaced at my "mechanic of choice" right next to my workplace for $450. (NO cost to me except when I requested that they replace all hoses and belts while they had them removed, $60 in parts at my special request). Water pump went 3 months later at $300 (fully paid by warranty). Right rear tire deflated (object damage), roadside assist towed me 8 miles to my favorite tire dealer ($50 towing/assist charge paid by warranty). AC compressor failed this year and was replaced at $1,000. $1,800 worth of expenses paid in total for $1,200 investmeent. Insurance is always a gamble -but I like those odds. The credit unions aren't going to back some "fly by night" business because they want your return business as much as a car dealarship does. Just another option to consider if you decide to spend your money and "gamble" on insurance. ;-)
I just purchased a 2001.5 VW Passat with 39K miles (picking up tonight). The car is VW certified used, which covers me for 24mo/24K with $0 deductible - not bad. I need to decide if I should purchase the VW extended warranty - the current offer is for 60mo/100K for $1731 with a $100 ded., but they are open to negotiate. Dealer has a great reputation and has been fair so far.
I'm trying to figure out if (a) I should buy a warranty, and (b) if the price is right. I may or may not have the car for more than 2 years; wish I had a crystal ball. Does anyone know how much you lose if you cash in a canceled warranty early? I know it's prorated, but I assume the balance tips in favor of the warranty co. Any advice would be most appreciated. Thanks in advance!
If the 60 months is beyond the 24, then it's a good deal. Usually the 100K is always gonna be total mileage. But if the 60 months includes the 24 you already have, it's not such a good deal. Because you're really paying 1731 to add 36mo/76K. I'd try to negotiate for the longer term or a much better price.
Thanks to the advise here. I cancelled my WarrantyDirect MaxCare+ warranty, and I got refunded the full amount( I was within the 60 day trial period).. Just wanted to thank you all for the advise
Thank God I found this site! I recently purchased a very clean '02 VW Jetta for my daughter at a Nissan dealer who took it in on trade. The car is very clean with a clear CarFax hx. It has only 25K miles on it, however it is a VW and along with being a VW it carries with it a reliability issue. My old VW's growing up were great! I think this one is a fun, safe car to drive with six air bags and is what my daughter wanted. It has 25K miles left on the factory warranty and two years. Nissan sold me their QualityGuard+Plus Supreme Service Agreement Protection package of 5 yr (from today), 70K (miles after purchase). The cost was $1295 plus tax. I decided to do some checking today for comparison sake. Today I checked with VW on their Service Contracts on pre-owned vehicles (very expensive) and with Warranty Direct (cheaper). VW wanted $22K and WD quoted $1069 with no tax. All three are $100 deductibles. WD policy is more inclusive with wear and tear included plus other benefits. I was leaning towards cancelling the Nissan and getting the WD policy, but after reading the above posts, I now question that wisdom. I know VW and Nissan will be around in the coming years. I am in CA and Nissan office is local, my gut tells me to keep the Nissan policy and have her car serviced regularly at any ASE shop (or VW dealer). I have 60 days to cancel the Nissan contract. I expect to keep this car for her for a long time. If I wait to purchase after the factory warranty ends, price goes up, just like buying life insurance! Any thoughts or suggestions?
I hope that's a typo on the VW warranty, not really 22K is it? Or did you mean $2200? Sounds like the Nissan contract is not too bad. 5 years from today is nice. 70K miles is a little low, but still, since that is from the mileage you purchased at (25K), that means the car will have 95K miles when the warranty runs out.
The only question is, how well will Nissan cover the VW. Maybe it doesn't matter. Hopefully someone who knows more about this will chime in.
Thanks for your input. Sorry, the 22K was a typo. It was $2200. The answer to your question of "how well Nissan will cover the VW?" I guess time will tell. I sent emails to 3 other VW dealers asking for quotes for their extended warranty.........no response as yet. I get the feeling that they are more accommodating when you buy from their individual dealerships. Since there is money to be made on extended warranties, I would expect them to be more prompt on a quote. One called me back and left a very nice message: "I heard you are interested in purchasing a new Volkswagen? Please call me and I will be happy to assist you in your purchase." I called back and explained that I wanted an extended warranty quote since I already had purchased the car. I told him that I had explained as much in my email to the dealership. Then his tone changed and said that wasn't his department and he would "forward my contact information to one of the finance guys." So I will wait to hear from them.
Warranty Gold and Warranty Direct had the same parent company until 2002, when WG was sold. WG then went bankrupt, taking thousands of customers to the cleaners.
Mtrainer responds:
This is untrue. WD and WG were never the same company. As a former stockholder, WD is the retail division of Interstate National Dealer Services. WG was never owned by them. WG did resell their program and from what I was able to learn, Interstate dumped them due to WG poor sales practices.
I won't get into insurers and reinsurers but you have your facts wrong there too. I researched the hell out of them prior to purchasing.
Mitzij wrote:
As for your customer service record, I can't find anything published that shows. However, there are several people who are unhappy with WD's customer service who have posts on this forum. There are happy people, too, but not a majority.
Mtrainer responds:
I have 3 WD contracts and have made claims on all three. I am a living testimony to how well they treat their customers. ( Take it for what it's worth, but anyone can post anything online anonymously- good or bad)I checked them out very, very carefully before I purchased 2 contracts. Was pleased with how my first two claims were handled, I opted to cover my daughter's car also. Her first claim was last week, a small $135 claim but was handled as advertised. You might also want to look at their stellar Better Business Bureau record at this link:
I find it sad how people come to a forum and paint with such broad brushes. As in any business, there are good and bad companies. A company like Interstate/Warranty Direct does not stay in business for 25 years if they don't stand behind their product. I suspect a few of the more prolific posters here are competitors of WD and others.
and neither for nor against any particular company.
I'm a former F&I manager who sold thousands of contracts, both private and manufacturer-supported and I'm also a former service manager, who had to deal with the nightmare of private service contracts and the havoc wreaked on my service department AND the consumer with the hoops that had to be jumped through.
I now testify in dealer fraud and warranty/lemon law cases and I believe I have the ability to speak on this - why take the chance on a private contract that IS NOT, in any fashion, a "warranty" as described by the Magnusson-Moss Warranty Improvement Act?
Your mileage may vary, but don't whine to me after you wait a week for a rental car because an adjuster had to take pictures of your failed transmission, then wait another two weeks so the service contract company can knock the grease and dirt off of a salvage-yard transmission for your car...don't believe it? Read your fine print - I DARE you.
I am relying on 'mgreene's posts in another thread for information, he cites legal documents stating WG and WD's connection. I did not say they are the same company, they had the same parent company.
WD is backed by a risk retention group, and said group does not agree with AMBEST's rating, so we can't find out what AMBEST's rating is anymore.
I would not call the BBB reports indicated 'stellar'. But that's just me. A BBB report is not a complete report of customer service satisfaction.
Have you seen a return on your 'investment' on all three service contracts? Or are you still paying for peace of mind?
p.s. Driftracer, I agree completely. Your experience with SCCs matches my own.
I just bought a 2004 Focus and got a price of $965 for Ford's Premium ESP 6 year/100,000 mile warranty with a $50 deductible. It seems like a good price, but the Focus comes with the $100 deductible, 5 year/100,000 mile Powertrain ESP warranty.
Does anyone have any advice on whether it is worth getting the extra coverage of the Premium warranty at this point given that I would be using the factory warranty for the first three years and the major driveline items are covered anyway for another two years?
Your facts are incorrect. Warranty Direct is the retail division of Interstate (they sell wholesale to dealers). Warranty Gold was never owned by Interstate and only resold Interstate plans as do many dealers. As I said, my research indicates Interstate dumped Warranty Gold due to their sales practices.
Return on my investment? Too soon to tell. I have three plans that I paid $2,735 in total for. All have over 3 years to run. To date, 4 claims have returned $1,083.57 to me. I'm very pleased with my decision.
AS for their BBB reports, I stand by me word, "stellar". According to their last 10K filing, they handle over 100,000 claims per year. Combined, Interstate and WD have only 48 complaints in the past three years (.00016%) and only 1 in the past 12 months. I'd call that stellar. Look at other web sites like Warranty Wizard and Onesource with like 150+ in a year.
As for driftracer, I'm sure many companies play those games. As I said, there are good and bad companies in any industry. All of my claims have been handled and paid in one day and no adjusters had to come out and take pictures. All parts were gotten from the dealer (in 2 cases) and Firestone (in 2 cases).
Hi ace1000. As you may be aware, Ford has made a number of recalls on the Focus. This is not necessarily a bad thing. It seems as though it has worked out a lot of the bugs that this car initially had. In fact, Ford received such negative press about this otherwise decent car's recalls that it began providing a free 5 year / 100,000 mile Powertrain Care Contract on it. I personally feel as though this additional warranty coverage would be enough for me. I don't see any reason to purchase additional coverage that will cover many of the same parts that this policy already covers.
portion doesn't cover the PCM, injectors, fuel pump, transmission control module, and of course, any other electronics on the car - it covers the rotating assemblies only - INSIDE the engine and transmission.
The parts that break down usually aren't the rotating assemblies, but the supporting electronic components - I'd feel better with the additional coverage, especially (no offense) with a Focus. Although they are better than the 2000-2001 models were, I still see 6-8 Focus cases a week.
Thanks for the comments. You have presented both sides of the argument. The main concern I have now is whether we will keep the car for more than 3 years. If I knew I would keep it, I would get the premium warranty. The prorated cost of the warranty for those 3 years is 50%, so I would get only half back less the fee. I'm not sure how much such a warranty is worth when trading in or selling a car.
Has anyone actually used this warranty. Toyota dealer trying to sell it with a new Toyota. I asked if it was a Toyota product ? - he said no, it was better. (Better for him??)
Hi edh. There is almost no way that this particular extended warranty is better than Toyota's official policy. Toyota's official extended warranty is excellent. I have a feeling that the only thing that is better about this third party warranty is that is provides a better profit for the dealership that sells it.
I opened up Automotive News this morning and there is yet another aftermarket warranty company getting sued. Platinum Warranty corp is being sued by the Ohio Atty general for failure to honor legit repair claims....they are being investigated in 5 other states and additional suits may follow...
I had warranty work done on 6Jan. Platinum warranty was supposed to pay by 8Mar04. They did not pay. The car repair company started calling in March. Each time, he was told, "the invoice had been sent to accounting". By the end of Mar I became involved. Every contact was the same- no information, empty voice boxes, and hang ups. Today, I wrote Mr Hodel the CEO to ask when he will pay. Remember this is the guy who received a Wall Street Journal Businessman of the year award. clarke
My wife bought a car (1999 Ford Escort) 5 years ago, and she bought an extended warranty from Ford when she bought the car. The extended warranty price was built into her monthly payments.
We want to sell the car now, but we have no information about the extended warranty, i.e., what it covers, any documentation, etc.
Where might I be able to find out the nature of the warranty she bought from Ford?
I just bought a new Mazda 6. Standard Mazda warranty is 4yr/50,000mi. The dealer offered me an extended warranty. I bought a 6yr/85,000mi plan. I have 60 days to cancel. The one they sold me is NOT a Mazda manufacturer warranty - it's from a company called Universal Warranty. Anybody ever heard of them? Should I be demanding my money back immediately? I'm planning to ask the dealer about a true Mazda manufacturer warranty. Also, I've done a little research and it seems like there are a couple of independent companies that may be okay - Warranty Direct and 1Auto Source Warranty. I'm still leery of any independent warranter though after reading some of the posts here.
Buy straight from the company who made the product. Im telling you to do it you do not want to be like me.Who got juked out of my $$$ from warranty gold 's mess. What may be less out of your pocket is fools gold from some internet company. I would buy from mazda and shell out alot of dough at least you know they have the dough to pay your claim. Unless the stock market crashes over time it will. But now stick with mazda and know the warranty will pay for itself overtime because it will break sooner or later. Do you want to say they told me and be broke?? ps. Get your $$$ back i hate to say it but they hooked you all they wanted is commission plain and simple and they got it. Me and my wife just decided to buy a gm warranty we got a 03 trailblazer and i did not go to dealer to buy it i called gm and got it so try to get your $$$ back and heed the warning.
unless that warranty has a major manufacturer's name on it..like Mazda, GM, toyota, etc....your at risk. There have been more aftermarket warranty companies that have gone out of business than you could count. Including the biggest one, last year.
Comments
continentalwarranty.net
autoconnection.com
Thanks
My local dealer (Gunn Acura ) are asking $1800 dollars....
big Difference..
Please tell me if you have had anydealings with Curry Acura or honda in Mass.
Thanks
That's a big difference in price, so I wonder if the $1050 is for different coverage, or an aftermarket company's plan.
Wish me luck cause I will purchase it and pray to,
God that he is who he says ...
Thanks
Sonny
Thanks for the great advice, I hope it helps someone else too.
If you are not a resident of PA, you pay no sales tax.
The Stated Component Plan
Enrolling in the VIP Stated Component Plan means you're covered against defects in materials and workmanship on many major vehicle components. The Stated Component Plan includes towing through On Call and offers rental car coverage of $30 per day for up to six days on covered repairs. And the plan is transferable to the subsequent owner when you are ready for your next Volvo.
The Totalcare Plan
Your TotalCare Plan is designed to protect you against defects in materials and workmanship on just about every component of your vehicle. The TotalCare Plan also includes towing through On Call and offers rental car coverage of $30 per day for up to six days on covered repairs. And, the plan is transferable to the subsequent owner when you are ready for your next Volvo.
Pick the plan that best suits your needs and place a call to or e-mail a number of Volvo dealers to see what sort of prices they are charging. Remember that you can purchase this plan from any Volvo dealership, not just the one that you plan on having your service performed at. Having said this, it might be a good idea to give the dealership that you will use for service the opportunity to match your best price quote.
Car_man
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Does anyone have info regarding Toyota Extra Care warranties at reasonable prices?
Car_man
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I have been reading the posts here, and I must say that for a noob like myself, this board has helped me tremendously. Thanks to y'all for all the knowledge that I have gained.
I am in quite a situation now. I recently bought a 2001 Nissan pathfinder LE from a dealer. The car was not certified. I also bought the Nissan Security+Plus extended warranty from the Dealer. Since the car was not pre-certified, the best I could buy was the Pre-Owned+Plus. I also went ahead and purchased a $0 deductible extended warranty from Warranty Direct thinking that I will cancel one of them before the trial period ends. Now that I am almost at the end of the 60 period, I would appreciate some help from all of you in deciding which I should retain.
It might appear to most of you that I should definetly go along with the Nissan Warranty, but there are some important things that this warranty does not cover, like the Heater, CD Player, Rear Window Defroster, and a few other things. All these things are covered by Warranty Direct though..
Also the warranty period with Nissan Security+Plus is a 4 year 48000 mile, whereas with Warranty Direct it is 5 years / total of 100,000 miles on odometer.
I paid about the same price for both these warranties, so I am very confused as to which I should choose.
Could you please help me with this issue...
All help is greatly appreciated.
Thanks,
Jaguar
Thanks for the information, very helpful. I would feel more comfortable with the extended warranty from Volvo. I made a call today to a Volvo dealer, the warranties certainly dont come cheap! Much more expensive than the other services. I think I will email a number of Volvo dealers for a quote and take the lowest quote to my local dealer as you suggest to see if they can match it.
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We are not now, nor ever have been insured, reinsured or associated with Warranty Gold in any fashion. You should get your facts straight before posting misinformation.
Thank you
Randy Downs
Director of Sales and Marketing
Warranty Direct
I will not respond to any further misinformation in this forum. I urge anyone wishing information to contact any of the professionals on my staff. They would be happy to discuss any of these matters with you factually.
We considered a Warranty Direct ESC for our 99 Dodge Ram because we could get a longer ESC for the price we paid for the one we bought at the Ford dealer (truck was bought used) that is 24 mos/24k and backed by Ford.
Anyway, we asked at the Dodge dealer about Warranty Direct and were quickly told to run, don't buy it they are horrible to deal with. To date the Ford backed ESC has paid for a steering gear box to the tune of $850, no muss no fuss. Still have 17k left on the ESC too.
boy we have heard that before. The largest aftermarket warranty company in the country went out of business last year....leaving millions of people and dealers holding the bag. The so called insurance company designed to back up the warranty if the company goes under ended up being worthless also....try to collect from them in the cayman islands.
anyone who buys an aftermarket warranty, should have their head examined....as a dealer we can make double or triple the profits by selling a non-manufacturer brand warranty. This is a tremendous amount of profit potential but the headaches in service are endless..
we don't want to be left holding the bag like some other dealers out there. In the past 20 years I have seen so many warranty companies come and go it's almost laughable.
Manufacturers have a strong interest in standing behind their warranties, they want consumers to buy another car.
what does an aftermarket warranty want consumers to do other than make no claims and buy another warranty?
As for your customer service record, I can't find anything published that shows. However, there are several people who are unhappy with WD's customer service who have posts on this forum. There are happy people, too, but not a majority.
I would like to state my POSITIVE experience regarding extended warranties. I purchased a 99 Suburban and financed through my local credit union. I looked at several warranty plans available at the time. The credit union offered a plan through CUNA Mutual Group called "Members Choice Auto Care". Cost was $1200 for 0 deductible platinum coverage.
9 months after purchase I had a coolant leak and ended up getting the seals replaced at my "mechanic of choice" right next to my workplace for $450. (NO cost to me except when I requested that they replace all hoses and belts while they had them removed, $60 in parts at my special request). Water pump went 3 months later at $300 (fully paid by warranty). Right rear tire deflated (object damage), roadside assist towed me 8 miles to my favorite tire dealer ($50 towing/assist charge paid by warranty). AC compressor failed this year and was replaced at $1,000. $1,800 worth of expenses paid in total for $1,200 investmeent. Insurance is always a gamble -but I like those odds.
The credit unions aren't going to back some "fly by night" business because they want your return business as much as a car dealarship does. Just another option to consider if you decide to spend your money and "gamble" on insurance. ;-)
I just purchased a 2001.5 VW Passat with 39K miles (picking up tonight). The car is VW certified used, which covers me for 24mo/24K with $0 deductible - not bad. I need to decide if I should purchase the VW extended warranty - the current offer is for 60mo/100K for $1731 with a $100 ded., but they are open to negotiate. Dealer has a great reputation and has been fair so far.
I'm trying to figure out if (a) I should buy a warranty, and (b) if the price is right. I may or may not have the car for more than 2 years; wish I had a crystal ball. Does anyone know how much you lose if you cash in a canceled warranty early? I know it's prorated, but I assume the balance tips in favor of the warranty co. Any advice would be most appreciated. Thanks in advance!
Just wanted to thank you all for the advise
The only question is, how well will Nissan cover the VW. Maybe it doesn't matter. Hopefully someone who knows more about this will chime in.
Thanks for your input. Sorry, the 22K was a typo. It was $2200. The answer to your question of "how well Nissan will cover the VW?" I guess time will tell. I sent emails to 3 other VW dealers asking for quotes for their extended warranty.........no response as yet. I get the feeling that they are more accommodating when you buy from their individual dealerships. Since there is money to be made on extended warranties, I would expect them to be more prompt on a quote. One called me back and left a very nice message: "I heard you are interested in purchasing a new Volkswagen? Please call me and I will be happy to assist you in your purchase." I called back and explained that I wanted an extended warranty quote since I already had purchased the car. I told him that I had explained as much in my email to the dealership. Then his tone changed and said that wasn't his department and he would "forward my contact information to one of the finance guys." So I will wait to hear from them.
Warranty Gold and Warranty Direct had the same parent company until 2002, when WG was sold. WG then went bankrupt, taking thousands of customers to the cleaners.
Mtrainer responds:
This is untrue. WD and WG were never the same company. As a former stockholder, WD is the retail division of Interstate National Dealer Services. WG was never owned by them. WG did resell their program and from what I was able to learn, Interstate dumped them due to WG poor sales practices.
I won't get into insurers and reinsurers but you have your facts wrong there too. I researched the hell out of them prior to purchasing.
Mitzij wrote:
As for your customer service record, I can't find anything published that shows. However, there are several people who are unhappy with WD's customer service who have posts on this forum. There are happy people, too, but not a majority.
Mtrainer responds:
I have 3 WD contracts and have made claims on all three. I am a living testimony to how well they treat their customers. ( Take it for what it's worth, but anyone can post anything online anonymously- good or bad)I checked them out very, very carefully before I purchased 2 contracts. Was pleased with how my first two claims were handled, I opted to cover my daughter's car also. Her first claim was last week, a small $135 claim but was handled as advertised. You might also want to look at their stellar Better Business Bureau record at this link:
http://www.bbbnewyork.org/businessreports/Default.aspx?id=53450
Interstate (same company) also has a stellar report at:
http://www.bbbnewyork.org/businessreports/Default.aspx?id=47633
I find it sad how people come to a forum and paint with such broad brushes. As in any business, there are good and bad companies. A company like Interstate/Warranty Direct does not stay in business for 25 years if they don't stand behind their product. I suspect a few of the more prolific posters here are competitors of WD and others.
I'm a former F&I manager who sold thousands of contracts, both private and manufacturer-supported and I'm also a former service manager, who had to deal with the nightmare of private service contracts and the havoc wreaked on my service department AND the consumer with the hoops that had to be jumped through.
I now testify in dealer fraud and warranty/lemon law cases and I believe I have the ability to speak on this - why take the chance on a private contract that IS NOT, in any fashion, a "warranty" as described by the Magnusson-Moss Warranty Improvement Act?
Your mileage may vary, but don't whine to me after you wait a week for a rental car because an adjuster had to take pictures of your failed transmission, then wait another two weeks so the service contract company can knock the grease and dirt off of a salvage-yard transmission for your car...don't believe it? Read your fine print - I DARE you.
WD is backed by a risk retention group, and said group does not agree with AMBEST's rating, so we can't find out what AMBEST's rating is anymore.
I would not call the BBB reports indicated 'stellar'. But that's just me. A BBB report is not a complete report of customer service satisfaction.
Have you seen a return on your 'investment' on all three service contracts? Or are you still paying for peace of mind?
p.s. Driftracer, I agree completely. Your experience with SCCs matches my own.
Does anyone have any advice on whether it is worth getting the extra coverage of the Premium warranty at this point given that I would be using the factory warranty for the first three years and the major driveline items are covered anyway for another two years?
Return on my investment? Too soon to tell. I have three plans that I paid $2,735 in total for. All have over 3 years to run. To date, 4 claims have returned $1,083.57 to me. I'm very pleased with my decision.
AS for their BBB reports, I stand by me word, "stellar". According to their last 10K filing, they handle over 100,000 claims per year. Combined, Interstate and WD have only 48 complaints in the past three years (.00016%) and only 1 in the past 12 months. I'd call that stellar. Look at other web sites like Warranty Wizard and Onesource with like 150+ in a year.
As for driftracer, I'm sure many companies play those games. As I said, there are good and bad companies in any industry. All of my claims have been handled and paid in one day and no adjusters had to come out and take pictures. All parts were gotten from the dealer (in 2 cases) and Firestone (in 2 cases).
but why even take the chance? Not with my money or time - no thanks.
Car_man
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The parts that break down usually aren't the rotating assemblies, but the supporting electronic components - I'd feel better with the additional coverage, especially (no offense) with a Focus. Although they are better than the 2000-2001 models were, I still see 6-8 Focus cases a week.
Toyota dealer trying to sell it with a new Toyota.
I asked if it was a Toyota product ?
- he said no, it was better. (Better for him??)
Car_man
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he said he also sold the Toy plan but did not mention it, show info on it, or price the Toy plan.
say on a highlander
clarke
-juice
We want to sell the car now, but we have no information about the extended warranty, i.e., what it covers, any documentation, etc.
Where might I be able to find out the nature of the warranty she bought from Ford?
Thanks.
Your dealer should be able to bring that up for you, or you can call Ford ESP at 1-800-367-3377. Have your VIN handy.
kcram
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