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By the way, I checked with Acura and I understand that my transmission already has an additional 3 years of coverage -- as do all 2000 to 2003 TLs due to the common problems with transmissions on these models. So basically, I'm looking for a good extended warranty that would cover any other major mechanical problems for the next two or three years. Thanks for your help.
The person I dealt with, Mark was excellent to deal with. He answered my questions, was not high pressure, and actually told me to go with a lower cost option than I was originally looking for. I ended up getting an extended warranty for my 2000 Subary Legacy for another 5 years and 60,00 miles. If I don't use the warranty, I get 100% of my money back. The product they sold me is called Service Shield from Lyndon Property Insurance Company.
http://aawarranty.com/serviceshield.htm#manplus
If I have a claim, I will report here. I am also awaiting a price for my 2004 Camry... They told me they had some new A+ rated insurance products coming after the first of the year.
a) if you do buy a warranty, only buy a HondaCare (i.e. manufacturer-backed warranty)
b) if you buy a HondaCare, remember you can buy it from ANY Honda dealer, and the price is definitely negotiable. Do a bit of net searching (there's a website dedicated to Odyssey owners where a couple of dealerships that sell the warranties for ~$100 over cost post - can't give you the link here, but a few minutes with Google should get you where you need to go).
c) don't do anything now - you have until your 3/36 warranty ends to buy a Honda extended warranty, so you might as well wait, see how you like the car, if you have any problems, etc., before deciding to buy.
Honda does not offer roadside assistance for free, but if you buy a warranty you get it. If you get a 7 year warranty that could save you $497 in AAA or other club fees.
Could help resale, if you sell just before it expires the buyer gets peice of mind.
Get quotes and shop around, it could still be worth while.
-juice
Saving $497 by spending $1200 (for 'the best' service contract, the closest thing to bumper to bumper possible) is just not good handling of funds.
We used trip tix once. In 7 years. I do fine with Mapquest now, in some ways it's better, easier to read at a glance when the co-pilot is asleep.
YMMV, but we're quite happy.
-juice
Please if you must have a policy get it from your dealer. However, I think self insuring would be better. Put away a litttle each month for repairs, say $50 - $100. Then if you get rid of the car and you didn't use the money take a vacation. Whatever you do don't go to a third party like Warranty Gold and buy a policy. If you have second thoughts go to warrantynews.com and look around. You will see these guys are not nice. That is WG site on their chapter 11.
Thanks.
(BTW, it does have exclusions (like "overheating"), but not more than usual; and it does allow the use of aftermarket parts. Any comments on that?)
The overheating exclusion is common with aftermarket warranties and gets them out of paying a LOT of big money claims.
Say your head gasket leaks and you blow a piston through the block.
They'll be glad to give you $12 for a new head gasket.
Nice. The new engine will cost many thousands of dollars.
-juice
Thank's.
It's still not a "warranty", it's still written by a private company with an adjuster whose primary goal is cutting down on claims, and then there's the whole financial solvency issue - use at your own risk.
If I remember correctly, cost on the warranty is around $600. If you offered $100 over...
Better yet, have the person SHOW YOU their warranty book with costs listed.
Again, you certainly can cancel it. Now, on another note, if it was financed with the car, you won't get the refund, your bank will - the refund will be applied to the loan - nothing changes with payments and the like, except that at the end, you won't have to pay a couple of payments...
Any caveats about fulfilling the maintenance obligations. I remember the Sienna engine Sludge warranty voided debacle, (which caused me to buy a Odessey).
I am willing to look at their policy again and perhaps try agin. Does anyone have any negative experiences with them in submitting claims, denial, time delays in paying claims etc... Thanks.
kcram
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Smart Shopper and FWI Message Boards
With this said, then who is the insurance company that backs it? When I was speaking to them on the phone, he mentioned a place in Switzerland who insures IBM and Daimen Chrysler. I better get the name then of the insurabce company then, but where do I get this info if not in the contract book?
DC and the other car manufacturers operate under the premise "we want this customer to buy another vehicle from us" - the private service contract admin says "we don't want to pay claims so that we can make money." And it's generally those philosophies that determine if a borderline repair will be covered or not - or in extreme cases, whether an entire repair is paid for when a covered part causes damage elsewhere. There have been many tales on these message boards where Small Component A failed and damaged Big Expensive Component B, but the third-party warranty would only pay for A's replacement, not the total repair.
kcram
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Smart Shopper and FWI Message Boards
Each dealership has a pool of good will money [from factory] each month depending on sales volume......the early in the month bird gets the dollar worms.
You want to be down on the list just below his Mother.
I have since called and found out the administrator, Royal Administration Services, uses Lyndon Property Insurance in St. Louis, Mo.
Any feedback on this? Or still stay clear of them? I'm beginning to think noone on this board is in favor of any extended warranties unless it is bought form a delaership? Am I understanding this correctly? Thanks for the input, appreciate it.
Not necessary bought from a dealership, because MANY dealerships sell aftermarket junk warranties, or worse, they self-insure under "First Extended".
I recommend ONLY warranties supported by the vehicle's manufacturer - GMPP for GM, ESP for Ford, etc.
1. If the policy costs $X, then you'll have more than $X in covered expenses over the life of the warranty
2. The warranty provider has to actually authorize the repair (i.e. not weasel out of it - remember, GM is trying to keep you happy with GM b/c of your next car purchase - a 3rd party warranty provider has no such incentive)
3. If they do authorize, that their financial condition will allow them to make the repair - remember that if #1 holds for all their customers, then they'll go bankrupt, which is what happened to NWIG, which had backed Warranty Gold's policies.
If either 1, 2, or 3 isn't true, then you've thrown away money on the warranty.
You ask about 'listed' plans. Many service contracts list every part covered. They want you to think that most of your car's parts are covered. In reality, these listed plans cover less than the other kind. An exclusionary plan lists parts that are not covered, and states if it's not on the list, it's covered. These plans generally cover more than a listed plan.
But, like I said, jratcliffe is right. You're better off socking away some money in case of a rainy day instead of buying a service contract.
I am just surprised that I did not see that in the contract.
Can anyone tell me if this is a resonable price and if they have any experiences (good or bad) with Nissan Seurity Plus? Thanks.