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So never ever buy an ext warr from any 3rd party.Too many folks have been burnt by these crappy 3rd party warr.Always buy a manuf ext warr whether it be a GM/Honda/Ford/Toyota etc. :shades:
Well it cant get clearer than that.Even AAA advised me to stay clear of these 3rd party warr and to only buy the manuf ext warr..Go figure!!
If a buyer takes a couple extra minutes to find out if the the warranty provider is the same comapny as both the administrator and insurer, if all those entites are A rated or better by AM Best, if the company is long running and well capitalized they are just as good as a manufacturer.
The examples always sited do not meet these tests. I know for a fact that name brand companies like the ones I have described pay out 75-80% of premiums in claims - just as manufacturers do.
Bottom line - do your homework.
Fire away, guys
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No business can survive with 20-25% markup.
Have a link to back up this figure?
Warranty Gold was AMBest rated A+ a couple of months before they folded.
They were also around for about 20 years.
Look up your vehicle class... Exa, my Saturn Outlook 2008 with less than 12000/12 months is now a class C3... When I purchased in August just before my 12 months was up it was Class C
http://www.gmoutlet.com/gmpppriceindex.html
Also Warranty Gold was not Am Best rated at all - the insurance company that backed those contracts was. I would have to check but it was likely a risk retention group and not an insurance company at all. An RRG acts as an insuror but is not subject to the same reserve requirements of a true insurance company and is generally grossly undercapitalized.
Chrysler CEO can say his cars are the most reliable on this planet.Is it true?? Hell no.Anyone can say anything he wants. But the bottomline is always the same--3rd party warr is junk! :sick:
link title
here`s the link:
link title
I find it very unusual that a company would only have a 20% markup, considering overhead, personnel, and other costs.
Yes, Warranty Gold had a risk retention group.
Exactly. When I bought my wife's car that's pretty much what I told the F&I guy who was trying to sell me a third-party warranty for $1300.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
There is no option foe a Volvo warranty on this old a car.
Thoughts/experience?
Thanks
Hmmm, let's see, they're going to warranty a car up to well over 200K miles. If it sounds too good to be true, it probably is.
Even Warranty gold was a billion dollar business and rated by BBB-but it went bankrupt.The Nissan/Toyota/lexus dealers where I take my car to-all refuse 3rd party warr as they dont pay any claims and keep then on hold for eternity and just give some bull info! :sick:
From your posts it is obvious that you work for one of these worthless 3rd party warr companies which are all scams and rip people off.
So buyer beware please...As stated before on these posts--all 3rd party warr are useless junk that pay no claims or can go bankrupt anytime.Always buy a Manuf ext warr at your local dealer or any dealer in the US online. :shades:
My daughter has a MINI - currently at about 38,000 miles.
I'm helping my parents purchase a new truck. They want to purchase an extended warranty (they are in their 70s and value the peace of mind it provides). I've pretty much narrowed it down to Warranty Direct or GM. Here are my questions:
1. Are there any other companies I should consider?
2. Any advice about Warranty Direct? The quote I have for them for the Elite Plus plan is $959 for 6 yrs/100k. Is that price negotiable?
3. What is a fair price for a GM warranty? They will probably want the 7 year/84k version. I've read that the markup is about 100%. So my plan would be to cut the price offered in half and be willing to accept a 10-20% markup.
Any other advice is appreciated as well.
Thanks in advance!
For a 2009 Silverado, it is $1280 for the "Major Guard" (most comprehensive of the three options) plan, which includes 7yr/84k of coverage and a $100 deductible. List price for this plan is $1755.
Also, no sales tax if you live outside the state of PA.
Using the gmoutlet.com quote of $1230 ($1280 - $50 discount through 10/31/09), I got the same coverage through the dealer (84mo./84k; $100 deductible; Major Guard plan) for $1180.
Your 1st two posts promote a company .No soliciting allowed. Guess the mods will get busy here. :shades:
Al
Since they are both expensive cars to repair but have low mileage, I would prefer to have an extended warranty. My 1999 Porsche Boxster had a blown engine (luckily covered under factory warranty) and a number of repairs that more than paid for itself (used Warranty Direct). Unfortunately, the pricing for the WD warranty on my first car was $2k. Now they want $5k for my wife's car and probably $5-6k for my Boxster.
Is there anybody else who is reputable?
I won't spend $10k on policies for both cars but would spend closer to $5k.
Any ideas or suggestions?
Unfortunately there is no Manufacturer Extended Warranty available on either car...
Yes, buy a Honda. Just kidding, few here will recommend anything but a manufacturer backed warranty, too many of us have been burned by 3rd party warranty companies like Warranty Direct.
I purchased a CNA policy on the car when I purchased it (October 31). I am still within the period to cancel and receive a full refund. The finance manager began by "knocking $800 off" to bring the price to $1650. He eventually reduced the price to $1400. But as this price was added to my financing, I am paying interest on the amount, and it looks like some sites sell extended warranties interest free.
The finance manager did tell me that though the package has a $100 deductible, their dealership waives the deductible if the repair is over $300. I am not certain how much I can rely on this occurring when my extended warranty finally kicks in.
I am leaning toward getting the Ford ESP, though the dealers seem to be more prone to push the CNA.
I would appreciate any input in a comparison of the plans - and the best place to purchase them.
3rd party warr are all very limited and rip offs.You can buy the Ford ESP at your dealer or any Ford dealer in the US online .
But after reading this thread, I am beginning to realize that could have more to do with them making a bigger profit on the initial sales, and a bigger profit on the repairs.
Of course, they promote it as the "better warranty."
I do notice that the online sites vary somewhat on the prices of the warranties. And again, I was puzzled that I was getting quoted a higher price to buy a Ford ESP with zero or a few hundred miles than I was with 6.000 miles or more.
Does anyone have any suggestions on the best place to purchase a Ford ESP, or the best time to purchase one?
Thanks!
As to why the warr is cheaper with a car with 6k miles- My guess is that the car has been broken in,it has been driven for a few miles,so probably it has no problems at all. Whereas a new car is not yet driven and as of now it still is relatively unknown. I know it sounds weird and indeed it is, but that`s the best I could come up with. :confuse:
Also there is a thread in Edmunds forums --Ford ESP online-- I think that`s the best place for your Ford manuf warr. :shades:
I'm planning to buy a new 2010 honda civic LX and I'm wondering how much would the warranty cost? And for how long?
Thank you.