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Would You Purchase The Extended Warranty On A New Car

Can you cancel an extended warranty purchased along with your new vehicle at the dealership?

After the car is 2 years old and in doing so, the dealership will cut you a check for the original amount paid for the extended warranty......which you can then apply towards the principal left owing on the car loan? A lady with the company just advised me to do that prior to trading in the vehicle so my payoff amount would be lower when the dealership made their offer to me for the trade in value??? Sounds fishy to me!! Wouldn't people be doing this all the time if it were legal to do so? Or, heck, maybe they are and I'm just out of the car traders loop! Any advice or insight would be appreciated!

If you purchase extra warranty on a new car can you remove it and have your money return?

i just purchase a new car but turns out that i purchase like 6000 extra warranty on i am not sure what exactly did they sold me but the price of the car is 21847.00 and with taxes it adds up to 23000 PLUS BUT i got my statement turns out that i owe 29800.00 now this is like 2 months ago that i bought the car any advice on how to remove whatever extra warranty they sold me they did not even gave me any paper work i am not even sure what it is for because i was really upset when we were buying the car because i did not want it but my husband did thats the reason why we got it if you have any info can you please let me know . this is a honda new car

thanks

Should I purchase the extended warranty for maintenance and repairs on my new car from the car dealership?

Only the manufacturers extended warranty.My first car, a Nissan Sentra, suffered a catastrophic failure, I was young and dumb and upset. I had it towed to the dealer and said it's under warranty, fix it. So they did.The garbage dealer warranty they sold me, for 20% of the cost of the car, was a limited parts warranty and had a $100 deductible.3 of the crank shaft bearings failed, they repaired the car as instructed, and then they gave me the bill, for a lot of money, actually 100% of the repair job. The cost of the bearings were $27, and didn't meet the deductible, so I was screwed and had to pay the whole thing myself, but I'm all good, right? I have a year guarantee on the repair.You would think so, but the fucktards at Nissan replaced only the defective parts, so about 3 months later the same thing happened, so I took it back and they opened it up…And the 4th bearing they didn't replace failed, so I was forced to have the engine rebuilt again.I would never buy another Nissan, or a dealers warranty. But know what you are getting…My wife had a Dodge Caravan, the extended warranty end was coming up, so I had her bring it into the shop and let my mechanics spend a couple hours screwing Dodge. See dealers cannot look for problems to cover under warranty service, conflict of interest… but my GM mechanics are not able to service the Dodge warranty. So they prepared an estimate of everything wrong. She went to Dodge, and was kinda hiding the paper and telling them what she “thought” was wrong, that the estimate said. The service advisor boldly asked, can I just have that and she gave him the estimate, he simply typed in all of the codes and charged the $100 deductible. Dodge performed over $8,000 work on a nearly 7 year old $12,000 when it was new Caravan. She had a loaner car for about a month while they rebuilt the engine and transmission, replaced the whole brake system, and God only knows what else. She drove the car another 7 years with no major problems.

Are auto extended warranty a good idea to purchase?

If you have the money laying around to pay for repairs then you dont need an extended warranty.. but when the tranny goes out and you have to cough up a couple of grand then you are going to wish you would have had the extended warranty. You hope you dont need it but if you do and you have it then you are covered, but if you need it and dont have it you are out of luck... kind of a catch 22.

Are the companies hoping you wont have to use it ofcourse, they have to make some money otherwise they wouldnt be in business to cover the repairs when they happen. I always hear on here, "they are only in it to make money"... isnt that really why EVERYONE is in business? To make money?

Why do people have health, life, home, auto insurance? They hope they dont have to use it, but if they do atleast they have it. If you decide to sell the vehicle BEFORE the extended warranty runs out, it makes a good selling point as they are usually transferable atleast once.

If you decide to get one, you MUST maintain the vehicle to the manufactures recommendations. WHY? So that if your engine goes out and you can provide the oil change records, then the warranty company knows it wasnt your error and will cover the repair as it is actually a mechanical failure, rather than you just not caring at which point its user error..

As always READ everything, if you decide you wont like/want the coverage, you usually have 60 days to cancel with a full refund, as long as no claims have been paid. After the 60 days you will get a prorated refund and you can cancel at anytime.

Check around, contact dealers, Credit Unions and your personal auto insurance agent. The dealers will be a bit more expensive as they can mark up the price quite a bit, but that gives them alot of room to haggle as well. CUs and Agents have a set commission that is much less than the dealers mark up, but they can not discount at all. Theoretically you could talk a dealership down to match the CUs price.

2 days ago, I purchased an extended warranty when I bought my car.?

Hi Waterlily,

Yes you can, I've seen numerous consumers cancel the warranty and get their money back. Chances are though Fidelity Warranty doesn't even have your info as of yet. It usually takes several weeks for the original paper work to process.

I'm sure with most warranty company they don't have a very good grade with the BBB. Sometimes the complaints are legit and sometimes their not.

I've dealt with Fidelity numerous times and they aren't much different than any other company. At least aftermarket or third part warranties. I always recommend a consumer purchase the manufacturers warranty instead of a third party. The claims are easier to approve, a little more coverage in some cases and also easier to resolve any disputes should they arise.

You didn't say if the car you purchased was new or used, if used then depending on the mileage, condition and year of the vehicle then perhaps an extended warranty is justified. Although expensive, major repairs are even more expensive.

It also depends on the type of coverage or plan you purchased. If it's just a Powertrain coverage plan then it may not be worth the $1500.00. There again though, depending on the condition of the car.

If you decide to keep your warranty or purchase another you should be familiar with the type of coverage you have. Review the contract including the small print. These contracts usually have specific "clauses" that will deny a claim (a repair) for numerous reasons. A good example is most contracts prohibit "modifying" the vehicle from it's original manufacturer specs. This includes replacing the tires with larger or even smaller tires than what was originally equipped with the vehicle.

See the below link for an article I've written on extended warranties that may help you make a decision.

Jerry
http://www.usedcarwise.com

Is purchasing an extended warranty on a car a good idea or does it depend on the make i.e. Ford Toyota ...etc?

It entirely depends on how well you understand your usage of the concerned vehicle .First things first , extended warranty does not deserve as much criticism as it gets . Sure, the company makes money on it . But, so it does by selling you the car itself and the other accessories ! In return , you get peace of mind and a relatively better ownership experience .That , for me, is worth the extra that I am going to spend on the warranty .There are a however a few important considerations -1. No point in buying it if you are a light user and the standard no. Of KMS in the warranty is more than enough for your usage . In that case , you should consider extending the warranty coverage years and not the KMS .2. If you intend on selling it within a short span of usage , the warranty seems like a foolish idea , but keep in mind that the warranty is usually transferable to the next owner and this can get you an advantage when you are looking to sell the vehicle . A company warranty is reassuring for the second owner and he won't mind shelling out extra bucks for your vehicle.3. If you intend on maintaing your vehicle with a skilled mechanic and not the authorised service centre , keep in mind that a warranty usually becomes void if the vehicle is not regularly serviced by a Company Authorised Service Centre (ASC).This can be a deal breaker in some cases.4.The opposite is also true , if you intend to service your vehicle with an ASC , the extended warranty usually becomes a wise decision . It has personally been very fruitfull to me with atleast 3 vehicles.But then again , what is most important is that you take good care of the car and follow service scheduldes properly. Most likely , you wont be needib it and thats a good thing , but then again not everything that goes wrong is always you fault.there's nothing wrong with a safety net.Hope i've been of help. Cheers and happy motoring :)

Can I get a refund for my car's extended warranty?

There are several reasons you may qualify for a refund, here are the most common ways if:1. You purchased an extended warranty within the past 6 years and the terms and mileage have not expired. Even if you no longer own the car, you can still qualify for a refund.2. You traded in or sold your vehicle to a dealership or private party. As long as you didn’t transfer the warranty to someone, you are most likely entitled to a refund.3. Your car was totaled by your insurance company or if it was stolen and not recovered. etcbut I highly recommend AA Auto Protection. Serving their Customers Extended Auto Warranty Needs For Over A Decade Great Products Backed by A.M. Best, “A” (Excellent) Rated Providers!GIVING YOU CHOICES AND CONFIDENCE WITH INSURED PROTECTION

Should I buy an extended warranty on a used car from Carmax?

It depends on the car you're purchasing. If it still has a malefactor's warranty and you don't plan on keeping it for every long, there is no need.

If the car has 25k or more and you're going to hold on to it for awhile than yes, i'd say you should probably consider it.

I know a bit about the way their program works. Basically, it covers the car mechanically and electronically bumper to bumper. Basic maintenance and upkeep are of course you're responsibility and if something happens due to your negligence it's not covered of course.

God forbid, if something does go bad on the car, take it back to CarMax and you only pay a $50 dollar deductible fee for ALL the service they do. If you're battery were to go bad because the alternator broke, both would be covered under the service plan. Kinda like a cause and effect thing.

Uhm, what else.. anything that isn't covered is listed in the brochure (which is very minimal), and everything else is. And I believe that if you trade the car back into them and there is still max-care on it, what you would have paid rolls over onto your down payment of the next vehicle.

If you have any additional questions on the service, i'm sure you can talk to one of the consultants at CarMax. Again, it's up to you to evaluate if having the plan is beneficial on the vehicle you're purchasing

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