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I have decided to buy a Mercury Insurance Extended Warranty after talking with several reputable dealers and independent service companies. Since the extended warranty is identical coverage no matter where I buy it, I was wondering what state typically offers the cheapest policies or more specifically which company (contact name and phone # would be ideal).
I don't want this thread to get hijacked on whether my decision to buy or not to buy a 3rd party warranty. That decision is made. I am now looking at the least expensive place to buy this particular Mercury Insurance coverage.
If you have a person and company name for me to contact, you can email me at tampaone@gmail.com
I am located in Florida but think it will be much cheaper if I can buy it out of state The reason that I suspect it will be cheaper is that I once bought an Infiniti Manufacturer Extended Warranty that was out of state while I resided in Florida and it was 1/3 less. However, I don't know if the state regulations apply equally to 3rd party aftermarket warranties vs manufacturer extended warranties....
Thanks in advance...
Manufacturers extended warranty's are different. They generally have the same list price in all states, but there is a considerable markup. It is up to each individual dealer to set his selling price, be it MSRP or discounted. It really has nothing to do with what state the dealer is in.
Is there a reason that I should buy it from a Florida agent? What is the advantage?
I know that I have to pay 7% sales tax in FL. If I buy it out of state, wouldn't I be able to save tax?
For instance, dealers that sell Honda Care warranties will not sell to Florida residents (excepting Florida dealers, of course)..
Hope that helps,
kyfdx
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The quote is as follows:
$ 19,477.00 Capitalized Price of Vehicle1
$ 616.75 * Motor Vehicle Excise Tax 3.2500% State OK
$ 111.75 * Initial License Fee
$ 0.00 Registration Fee Order Information
$ 995.00 * Other: Application Processing Fee Driver Name
$ 4,869.25 * Capitalized Price Reduction
$ 0.00 * Tax on Capitalized Price Reduction
$ 0.00 Gain Applied From Prior Unit Lic. Plate Type Unknown
$ 0.00 * Security Deposit GVWR 0
$ 0.00 Extended Service Contract
$ 14,607.75 Total Capitalized Amount
$ 608.65 Depreciation Reserve 4.1666%
$ 77.78 Monthly Lease Charge (Based on Interest Rate - Subject to a Floor)
$ 686.43 Total Monthly R">ental Excluding Additional Services
$ 0.15 Reduced Book Value at 24 Months
$ 400.00 Service Charge Due at Lease Termination
Why the price on the website is lower than the one stated in the quote. The company said that the difference refers to documentary fees and administrative fees. Is it reasonable?
If you let us know what you're shopping for, we can direct you to some more specific discussions.
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