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after market auto warrenties/ service contracts

Started by Dan_Shade, March 19, 2015, 11:09:37 PM

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Dan_Shade

do any of you guys have experiences with after market auto warranties/service contracts?

I'm looking at a 2005 Ford Freestyle, it's a nice clean car, but I read they have a pretty bad transmission problem. 

I'm normally anti warranty, but a $6,000 repair on a transmission has me concerned.

are any of the aftermarket warranties any good?
Woodmizer LT40HDG25 / Stihl 066 alaskan
lots of dull bands and chains

There's a fine line between turning firewood into beautiful things and beautiful things into firewood.

beenthere

I've never heard of one being any good. But have heard of many that won't cover a dime of needed repair work.  But am sure I haven't heard it all.
south central Wisconsin
It may be that my sole purpose in life is simply to serve as a warning to others

coxy

I have them on both my suv and truck and never had any trouble    parts and labor free they even covered the brake pads  and they even paid the tow when the suv shut down  the only thing they (mine) wont cover is electric other than that is been great      jmop

Dan_Shade

Woodmizer LT40HDG25 / Stihl 066 alaskan
lots of dull bands and chains

There's a fine line between turning firewood into beautiful things and beautiful things into firewood.

florida

We've had them on our last 2 cars but they were cheap, about $600.00 for 3 additional years, and included oil changes and tire rotation. We took both cars in religiously for oil and rotation and of course they inspected for other things as well some of which were covered under warranty. If you buy from CarMax you can get an inclusive warranty which will cover the transmission. However, why not take the warranty money, add it to your car money, and buy a car with a reliable transmission?
General contractor and carpenter for 50 years.
Retired now!

Dan_Shade

Woodmizer LT40HDG25 / Stihl 066 alaskan
lots of dull bands and chains

There's a fine line between turning firewood into beautiful things and beautiful things into firewood.

gspren

   If you are the type of person that can keep enough in savings to cover an occasional breakdown or repair than never buy extended warranties on anything and over the years you will be ahead. Warranties are like insurance and should be bought to cover catastrophic loss that you just couldn't afford. JMHO
Stihl 041, 044 & 261, Kubota 400 RTV, Kubota BX 2670, Ferris Zero turn

boscojmb

The aftermarket car warranty folks call, mail, and email me on almost a daily basis. The ones that have contacted me do not seem legitimate.
There may be some good ones, but I fear that many are a scam.

I would take my chances with the 10 year old car long before I would chance buying an "aftermarket warranty"
John B.

Log-Master LM4

redprospector

I got talked into one of the aftermarket warranties once when buying a used car. The car never broke down, so I have no idea if it was any good or not.
The car we have now is a used Lincoln. We got an "extended" warranty from Lincoln. So far, so good. Pretty much just like we bought a new car.
1996 Timber King B-20 with 14' extension, Morgan Mini Scragg Mill, Fastline Band Scragg Mill (project), 1973 JD 440-b skidder, 2008 Bobcat T-320 with buckets, grapple, auger, Tushogg mulching head, etc., 2006 Fecon FTX-90L with Bull Hog 74SS head, 1994 Vermeer 1250 BC Chipper. A bunch of chainsaws.

Magicman

It's simply another form of insurance.  I consider myself "self insured", which may also be considered "risky", but that is my choice.
Knothole Sawmill, LLC     '98 Wood-Mizer LT40SuperHydraulic   WM Million BF Club Member   WM Pro Sawyer Network

It's Weird being the Same Age as Old People

Never allow your "need" to make money to exceed your "desire" to provide quality service.....The Magicman

Brucer

I got Lubrico warranties on my Smart car and my F150. It more than paid off on the Smart car but I lost out on the Ford. Overall I was slightly ahead of the game.

You really, really, really need to read and understand all the inclusions and exceptions or you could be in for a nasty surprise. For example, "heat exchangers" are not included on many of these warranties. Your car probably has a couple of obvious heat exchangers -- the radiator and the transmission oil cooler. After my warranty expired a mechanic pointed out to me that the intercooler on the turbocharge is also a heat exchanger. One spring, when the driveway turned to mush, I ran over a big rock and it rolled up into the bottom of the car. That's when I discovered the Smart car has a fuel cooler on the bottom, flush with the floorboards (fortunately that was covered by insurance).

In many cases the repair shop is required to use rebuilt parts rather than new. If they can't get a rebuilt part, they're supposed to go to aftermarket suppliers.

You MUST have your vehicle serviced, by a mechanic,  following the schedule the warranty supplier specifies. For example, the Smart car manual requires an oil change every 8000 km (using synthetic motor oil) but my warranty specified every 3000 km. There was no way to avoid changing the oil way more often than it needed. Apparently some aftermarket warrranties now recognize that the car manufacturer may know better.

Remember -- these companies are out to make a profit. That means it will always average out so the insured pays more in premiums than he/she will collect in benefits -- just like any other form of insurance.
Bruce    LT40HDG28 bandsaw
"Complex problems have simple, easy to understand wrong answers."

SwampDonkey

Also when buying a car or truck make sure you understand what extended warrantee is if you get one. Sometimes it will be like 4 years extended and the vehicle has a 3 year warrantee at purchase regardless. If the extended actually kicks in from day one of purchace, you actually only have 1 additional year, not 4 more. I always turn them down unless they can say I have 4 more on top of the 3. Why pay thousands for one year?
"No amount of belief makes something a fact." James Randi

1 Thessalonians 5:21

2020 Polaris Ranger 570 to forward firewood, Husqvarna 555 XT Pro, Stihl FS560 clearing saw and continuously thinning my ground, on the side. Grow them trees. (((o)))

Woodhauler

Never had one on a car but bought one on a atv i own! It pays for repairs up to the total cost of the machine. Atv cost 10,000 new and at the end of 3 years i had used all the 10,000 up! Zurich was the company. I believe they docars too. Never had A denial, and got to keep all the old parts.
2013 westernstar tri-axle with 2015 rotobec elite 80 loader!Sold 2000 westernstar tractor with stairs air ride trailer and a 1985 huskybrute 175 T/L loader!

ozarkgem

I have a old business friend that went into the warranty business. He laughs how they never pay. I doubt that I would buy one.
Mighty Mite Band Mill, Case Backhoe, 763 Bobcat, Ford 3400 w/FEL , 1962 Ford 4000, Int dump truck, Clark forklift, lots of trailers. Stihl 046 Magnum, 029 Stihl. complete machine shop to keep everything going.

Logger003

I bought extended warrantee on my last truck. I found out the first time I used it that the shop I use won't honor it unless they talk to them before doing any work to make sure the repair is covered. I was surprised how little the warrantee covers but I do know I will never buy extended warrantee again

easymoney

a few years ago i kept getting calls and letters wanting to sell me the extended warranty on my car. i finally told one of them i had a 1989 yugo. he said he could not cover it but he swore he could cover a 1988 ford tarus with a blow head gasket then pay for the repair. i declined on that offer.

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