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Auto Warranty Broker
Does anyone have any experience with these guys? I am searching for a replacement for my two worthless Warrangy Gold policies. Did a lot of research but want to hear others' experiences. I have to buy something, got two high end cars off warranty. Any other extended warranty companies you recommend? Thanks
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Car_man
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I've dealt with probably 25 private warranty companies, including Auto Warranty Broker (primarily the companies they refer you to), Warranty Gold, National, Fireman's Fund, and others.
They're all pretty much the same, mneaning none have your best interest at heart. There's 5-6 main reasons why I would shoot a personal friend relative who bought an aftermarket warranty - I'll go into detail if you wish.
So again, I am searching for feedback, positive or negative from people who have actually used Auto Warranty Broker or any other company.
No one is coming out and saying '..Wow, I used XYZ Extended Warranty Company and they were great!' Tells you something, doesn't it? I had 5 years of excellent experience with Warranty Gold, but then the brown stuff hit the fan.
I still need an ext warranty. Anyone have a good experience or a warranty company to recommend? Thanx
Dealers have been gauging us for years, if all extended warranty compnaies were BAD, they would not be liscensed to do business. Remeber for every 1 upst customer there are thousand of satified ones, but they aren't as angry as the ones that are upset.
Do your research, find the plan that fits your needs, research the compnay, and follow your gut. THis way the decision was yours and it is not something thatyou should rely on someone else.
Make sure you check their customer service department, I know the one I chose has 24/7 live support..to me thats a huge plus?
Good Luck!!
If you look at a factory extended warranty, you DON'T have to pay the first price you're told by the F&I guy - negotiate, just like with the car.
Having been a successful F&I guy, I know that most dealers like to use a retail figure that is double the cost of the warranty. Negotiate, and quit whining about getting "robbed".
Have the F&I guy pull out his cost book/chart and offer a fair amount over his cost.
I have no sympathy for someone who won't do a little research, but wants to blame someone else for their foolish consumer decisions.
I still think it's better in the long run to self-insure. Save money for a rainy day, even with an expensive car. If you can't afford to fix one, maybe you shouldn't buy one.
"after working as a service advisor and service manager, I've seen many of the nightmares that consumers go through with private warranty companies. This really gets wild if you try to pursue a lemon law or breach of warranty case because these policies aren't "warranties" - you're stuck with a problem car and no one to whine to.
I've dealt with probably 25 private warranty companies, including Auto Warranty Broker (primarily the companies they refer you to), Warranty Gold, National, Fireman's Fund, and others.
They're all pretty much the same, mneaning none have your best interest at heart. There's 5-6 main reasons why I would shoot a personal friend relative who bought an aftermarket warranty - I'll go into detail if you wish."
I'm a consumer fraud investigator, dealing specifically in dealer fraud, lemon law, and breach of warranty cases - I work strictly on the side of consumers. I also consult for a dealer group, helping them do the right thing and increase their CSI and sales abilities by losing all the old school car dealer games.
Lose the dealer-bashing notions and realize that I'm giving advice to consumers from years of experience.
I'm glad you're happy with your choice - I've seen literally hundereds, perhaps thousands, of consumers who hated their aftermarket warranty experiences.
If you need real-world reasons, I'll be glad to give them to you.
There's way too much proof out there that consumers lose out and take many more chances with aftermarket warranties.
I would want my accountant to be a better consumer before I allowed him to "do the math" with MY money...
By offering factory backed warranties that do what they say they will?
I hope your Johnny Come Lately warranty company stays in business this time!
Since I bought my warranty from them, about a year ago, their prices have gone up a bit. I'd say their claims administrator was tough, but fair. No leeway or being "nice guys" and covering things that were not listed or related to the main problem, but they did cover what they were contractually obligated to cover.
Bruce
SirBT
All extended warentees/Service plans have 50% markups. And remember, if the deal is too good to be true, it probably is.
When something is cheap, there is usually a reason.
Been there, dont that, got the t-shirt.
1. I bought a Ryan Warranty for my 626 in '96 for $650. I put $3,500 in repairs on that warranty. Ryan paid out each time without any problem. Obviously Ryan lost on my deal. Is that why it costs $2,000 for a warranty 8 years later???
2. Why offer an extended warranty at all if you don't want your GM salespeople to sell them?? I had to initiate the conversation with my GM finance officer. Seems to me that he would have at least broached the subject since that is his job (I guess he didn't want to earn his t-shirt). He didn't care to give me anything more than the retail price. I don't do retail
3. Of my 30 e-mails to GM dealerships asking for their best price on a warranty for a Cat II vehicle, why did 3/4th of them ignore my e-mail??
Why did half of the ones who responded quote me the retail book price?
I love retail in the US. Business people do some pretty stupid things, which explains why over 50% of start-up businesses go OUT of business. Bottom line, if they don't want to sell them, then stop selling them. If you want to sell them, then give us educated people our due......don't give us a bogus "take it or leave it" price. And for the less than educated, why not give them a "price they cannot refuse" to get them to shell out more $$, instead of quoting them extremely high prices for a warranty??? Sorry, seems like dumb business practice to me!
If any of the GMs I've worked for were ever told that by a customer, they'd help the F&I Manager clear his/her belongings out of the office...
Discounting their product is one of those stupid things that cause business failures.
Some people will automatically ask for discounts on everything even though the price offered may represent a good value.
The 2 guys who own Auto warranty associates worked somewhere else before they started on 8/17/04. If you bought an Ultimate warranty from them, it is illegal and a stolen contract. Better call and check to see if you have coverage.
Ultimate does not sell its product direct to the public only through dealerships or private label programs. Try www.extendedautowarrantybrokers.com for a true broker and real experience.
Seems to me the odds are working against the aftermarket companies success since the success is based on not paying claims. The manufacturers have a big incentive to keep the consumers happy.. they want to sell you another car? What incentive does the aftermarket warranty company have??? They never seem to be around long enough to gain any loyal customers.
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Can anyone advise me on this? I feel uneasy buying a used car with no warranty.
They carry those warranties as if they were the factory,
but they are not! Everyone gets a cut. The Dealer that
forces you to use only his Warranty is not on the up and
up. I have an Extended Warranty with Auto Repair Warranty,
they cut out the middle people, they pay cash and saved me
thousands not only on the warranty itself but the dealer
estimates for repair, which were inflated and wanted to
repair things that did not need it.
I have a 2003 VW Jetta with 35000 miles. The original factory warranty is due to expire in a week.
The 2003 Jetta has documented Engine problems specifically the Mass Air Flow Sensor and the Water pump. To protect myself from other engine problems, I am researching extended warranties.
I have researched several forums on extended warranty, read about WarrantyDirect, The Auto Club, Mercury Insurance Group, VolksWagen RealDriver extended warranty (administered by Fidelity Warranty Services) etc. My observation is:
1. Warranties backed by Good AMBest A rated Insurance companies donot cover Wear & Tear. They cover only Mechnical Breakdown defined as "failure due to faulty workmanship or materials"
2. Warranties that cover Wear & Tear are all backed by RRGs.
I would like to ask if:
1. Anyone has used Volkswagen/Audi Warranty (administered by Fidelity Warranty Services) and do they honor the claims (especially on vehicles older than 5yrs/50k miles)
2. Has anyone used aftermartket warranty like WarrantyDirect, Warranty America etc for expensive repairs (repairs costing more than the premium) with good satisfaction ?
3. Does suggest any reliable auto warranty broker ?
Regards,
Bak
Reading the other stuff, it seems that a lot of people are lost in the warranty world and how it really works. I was a service manager for 10 years, a claims manager for 3 years and a sales rep for over 2. I can attest that there are some horror stories from aftermarket companies, but frankly, most dealer sold "Factory backed" policies are administered by the same companies that sell to the public. I can remember just as many issues with "factory" or dealer sold warranties as non dealer sold ones.
Here is the skinny. The broker is not the one that has to do anything after the sale. Once sold they forward the money to the administrator and their responsibility is done. Brokers can get great deals on great coverage, but you as a consumer have to do some research yourself. ALWAYS get the actual contract up front, something most dealers cannot offer. NEVER give them ANY money until you have the contract and read it completely. Check the BBB and Webassured for both the broker and the warranty company.
RRG's are not as bad as people think. Exxon and GM both have RRG insurance companies. A RRG is an insurance company with only 1 client. In the case of warranty companies, make sure that the RRG is not owned by the warranty company, as in the case of First Assured/OneSource that went under in 2005.
Do not buy on price. Having said that, if the contracts are identical then don't over pay either.
the bottom line, get the contracts form anyone you are looking at first. Anyone that wont give it to you, lose their number, it's like grocery shopping blindfolded. If you feel pressured to give them money, lose their number. You need to be comfortable in the process. The warranty is there to fill your need and it is your money.
Are you still associated with the Auto Biz?
What factory esp's are backed by non-mfg based companies?
Not all dealer-sold service contracts are Mfr-backed.
Have you had problems with Mfr-backed contracts? I've found GMPP claims to be as straightforward as Warranty claims.
To a certain extent what you say is accurate. The differences being that depending on your service absorption a dealer is given a limit where they do not need prior approval on claims. Also the approval through the factory is automated and does not require a rep from the service company to come buy.
Plus the fact that they are not a third party to the dealer or manufacture. In my case Ford Motor Company could care less if some fly by night warranty company is giving you the run around. They will tell you this is why the Manufacture offers a Service Contract. Where if you are getting the run around on a Manufactures plan they are obligated to assist you.