Archive for the ‘extended warranty coverage’ tag
Tips When Seeking A Warranty Quote Online
Shopping online for extended warranty coverage isn’t as easy as shopping for, say, an MP3 player or even the car itself. Generally, when we’re looking for consumer goods on the web, we consult a trusted nonprofit publication like Consumer Reports; however, when it comes to extended warranty coverage for autos, Consumer Reports issued a report that they’re ALL a lousy deal! It’s easy for them to say, but some people aren’t that great at saving huge chunks of money or who worry incessantly “What will I do if I have a breakdown?” For these folks, finding a warranty company is critical for peace of mind. Even without Consumer Reports, there are many sites offering a free online warranty quote, in exchange for a little information, of course.
When you’re dealing with a warranty company online, there are a few things to look for. Be sure they’re BBB approved and that you can find their address or executive names somewhere on the site. Check to see if the warranty company is backed by an insurer or financial backer, which will guarantee that you’ll be covered even if the company suddenly goes belly up. You can then cross-check the financial backer with the AM Best website to see how reliable they are. Your State Insurance Commission can also tell you if any complaints have been filed with the company. Your warranty quote should deliver a clear, comprehensive detailing of what you will get for your money. If they can’t provide you with the level of detail you need or if they seem vague, then look elsewhere.
If you’re planning to keep your car for a long time, then getting a warranty quote or two is probably a good idea. Keep in mind that your car will be covered by the manufacturer’s warranty automatically for the first few years. Some manufacturers are extending their traditional 3 year/36,000 miles warranties to 5 year/100,000 miles extended warranty coverage. Often, when a manufacturer’s warranty is about to expire, owners will consider trading the car in for a new one. However, this plan isn’t feasible for everyone. Some people prefer to hang onto their cars until they can’t drive them anymore, sometimes for a duration of at least 10 years.
Are you afraid of searching for a warranty quote because you don’t want to provide personal information or receive spam email? You can check MyCarIsCovered.com for a quick, free quote that only asks for vehicle make/model/mileage/state. Generally, it’s difficult to find free quotes without providing some sort of personal information because the businesses are, first and foremost, sales-oriented. This is how many businesses get juicy leads for solicitation purposes. However, on the bright side, if you’re willing to invest a little extra time, then you can research company websites that have ballpark prices and coverage details to comparison shop. Then you can follow up with the ones that seem legit. A little bit of reading can go a long way towards saving you thousands of dollars!
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Finding A Warranty Plan
Before you choose a warranty plan, it is important to know what things generally aren’t covered under any plan. For instance, your car insurance covers things like exterior paint damage, collision damage and broken glass. You, as the consumer, are responsible for headlamps, taillights, bulbs, trim, moldings, upholstery, exhaust systems, tires, batteries, brake rotors, drums, struts, shock absorbers, oil changes, air filters and tune ups. It is possible for you to get “wear and tear” extended warranty coverage, which includes things like suspension or drive train components (transmission & axles). Parts like ball joints, camshafts, bearings and piston rings can cost you hundreds and are only covered under comprehensive wear and tear plans.
You may be wondering, “Do I need to purchase a warranty plan, or will I be covered by my car manufacturer’s warranty?” In some cases, people have purchased two-year extended warranty coverage only to find that they had already been covered just fine by their manufacturer. According to the consumer site CarSmart.com, the best coverage is on high-end luxury sports cars, like Aston Martins, Lamborghinis, Ferraris and Rolls-Royces, which are covered until 999,999 miles.
At the next tier, you’re covered for five years (or 60,000 miles) if you drive a Mitsubishi, Kia, Infiniti or Hyundai. You’re covered four years (or 50,000) miles if you have an Acura, Audi, BMW, Buick, Cadillac, Hummer, Isuzu, Jaguar, Land Rover, Lexus, Lincoln, Maserati, Mazda, Mercedes, Mini, Porsche, Saab, Volkswagon or Volvo.
You may want to consider purchasing an additional warranty if you’re rough on your mid-range vehicle or if you buy a lower range vehicle from Chevrolet, Chrysler, Dodge, Saturn, GMC, Honda, Jeep, Ford, Mercury, Nissan, Pontiac, Suzuki, Scion or Subaru (whose manufacturer warranties only cover 3 years or 36,000 miles.) If you drive a 2008 or later GM model, then you’ll be covered for 100,000 miles or five years.
Many people assume that there is such a thing as an “implied warranty” that protects them for so many days after they bring their new car home. Generally, you should not rely on this type of warranty plan. If you’re test driving a used car and hear a clunking sound and the salesperson says they’ll take care of it, get that promise in writing to document the problem (or simply pass on the car!) If the warranty plan doesn’t explicitly say that part will be covered, then the dealer is under no obligation to fix it, legally. Some states have a “lemon law” that says you’re entitled to repairs or replacement if the problem cannot be resolved after so many attempts. However, if you’re buying a used car “as is,” then you automatically void your right to lemon law protection and assume any risk.
If you’re buying a used car that costs less than $5,000, then is the warranty plan even worth it? At Warranty Direct, you can get an out-of-warranty plan on any vehicle over 36,000 miles that covers you four years (or 100,000 miles, whichever comes first). If you’re buying a car so cheaply, then it’s probably not worth your while to pay half that much for an automobile warranty (when you could have saved your money and your stress by just buying a slightly more expensive car with less mileage and a longer manufacturer’s warranty). Beware of the cheap plans because they often advertise exceedingly low prices but essentially cover nothing. Some extended warranty plans to avoid include those offered by TheAutoClub.com, Continental Warranty, AaautoWarranty and SmartAutoWarranty.com, which do not offer wear and tear coverage and have garnered over 250 annual complaints.
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Common Areas Of Concern On Warranty Plans
These days, we can get warranty plans on our dishwashers, our iPods, our television sets and our automobiles. But how many of these extended warranty plans are really necessary? Is it all just a scheme to milk a little more out of the consumer, while industry standards allow the “build-it-to-break” model to continue? When it comes to big ticket items like your vehicle, you may want to consider the benefits of extended warranty coverage.
One common problem people run into is to fail to read and understand the agreement before they get work done. Knowing the right questions to ask your warranty company is crucial, experts say. For instance, ask if you can get the work done at any shop, or do you have to look for a certain certification, or in some cases return to the dealer? Additionally, is your car covered for “wear and tear” damage or just mechanical failure?
You should have a comprehensive list of all the parts that are/aren’t covered! Sometimes you’ll get a “bumper to bumper” warranty that covers everything except for the wear items, like brakes and tires, while other times you’ll get a “power train” warranty, which covers the engine and transmission. While it’s rare to find a company that offers coverage for everything, you should ensure that some of the most expensive repairs will be taken care of.
Additionally, beware of flyers and spam emails from companies offering warranty plans that seem almost “too good to be true.” If the prices are far lower than everywhere else, it’s probably not a good idea. If you can’t find information about the company from the Better Business Bureau, avoid them. One thing you should be aware of is that there are some “companies” out there that look to cash-in quickly, only to go bankrupt in a few years, leaving you with a useless automobile warranty that no one will honor. Even some legitimate companies just don’t have back-up financing, so if claims come pouring in, they run out of money and go belly-up. To protect yourself, look up as much information as you can before signing with a company and look for a longstanding track record.
If you’re one of those consumers who buys a car and trades after four years, then you might be fine passing on warranty plans. By contrast, many leasers or auto traders still find some peace of mind by purchasing the coverage because they don’t like unanticipated surprises setting them back. By five years or so, you could run into expensive brake work, transmission problems or a number of other mechanical failures that could add up. If you’re a business savvy saver, this may not be a problem for you. At the end of the day, you have to ask yourself, “How rough am I on my car? What can I expect?”
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Taking A Look At The Warrantech Auto Warranty Coverage
“I estimate that the WCPSOnline website has helped us to be over 40 percent more efficient over the last two years,” explains Warrantech VP Link Wiley. “But it is not just about cutting our costs. The cycle of authorization, repair and payment is shorter, so service centers save time as well. Essentially, the customer gets faster service, the service centers get paid quicker and we are able to keep the pricing of our warranty plans competitive.” By modernizing their operations, this highly esteemed warranty company is able to improve customer satisfaction through process efficiency. They work with dealerships to offer new car warranties, but they’re also marketing to people who are looking to extend their used car warranties as well.
The most popular plan offered by Warrantech is the Repairmaster. The “Powertrain Coverage” plan includes the engine, turbocharger, transmission, drive axle and transfer case components. Or you may choose the “Select Coverage,” which includes all powertrain components, as well as electrical, steering, air conditioning and brake components. The third plan offered is the “Deluxe Coverage,” giving you everything in the Select Plan, plus cooling, front/rear suspension, fuel delivery and enhanced electrical components.
There are also optional surcharged plans to accommodate vehicles that get a lot of wear and tear. For example, the Commercial Use plan, the Seals and Gaskets plan (for vehicles with over 80,000 miles), the Enhanced Electrical plan and the Conversion coverage plan (for recreational vehicles). With all plans, you’ll receive travel/towing bonuses.
Warrantech plans are available from 1 year to 7 years and from 12,000 miles to 100,000 miles. Deductibles range from $0 – $200 and all plans are backed by a reliable AM Best-rated insurance company. “By creating an affordable program that is administered by Warrantech and is fully insured, dealers can provide the Sterling Auto Warranty on their pre-owned vehicles with confidence, knowing that their customers will be taken care of now and in the future,” said Chris Ford, president of Warrantech Automotive. “We are offering dealers new car service contract security at a level of coverage and price they are seeking for their used vehicles.”
In addition to new and used car warranties, Warrantech also has an extended warranty program for automotive components, appliances, consumer electronics, computers, office equipment, and residential HVAC systems as well. The best way to go about buying a warranty is to research, request a quote, look over all the details and call a representative. Be sure you ask if there is a 30-60 day money back guarantee in case you find you’ve made a mistake. Generally warranties cost very little to save you a lot!
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Useful Considerations When Selecting An Extended Warranty Service
Generally, when people buy “certified, pre-owned vehicles,” they are offered the remainder of the original warranty, with extended warranty service tacked on for an extra fee as well. Before shoppers visit their local car dealerships, it’s a good idea to check for an extended warranty quote online because it can be used as a good bargaining chip and a gauge of how much the extra coverage should cost. Some people feel comfortable with the word “certified” affixed to their purchase, but this term isn’t a fail-safe guarantee, especially if the vehicle has a history of longstanding manufacturer defects, such as with a Jeep or Land Rover.
First, consumers should check to find out who is backing the extended warranty service. Is it an independent company or the vehicle manufacturer? Generally, manufacturer-based used car warranties are ideal, known for the easy-to-use guarantee. With an after-market extended car warranty, the owner will need to read the stipulations to ensure that everything is covered.
For example, some companies require that owners call before the work is done. Some companies require regular oil changes and fluid top-ups for work to be covered. Depending on the arrangement, sometimes the company pays the auto mechanic directly, whereas other times the warranty company pays the car owner back later. Reading and understanding the agreement is crucial in preventing unpaid claims.
Secondly, find out exactly what is covered and what is not covered. The things for consumers to look out for here are “breakdown coverage” versus “wear and tear” extended warranty service. While a breakdown automotive warranty may cost a little less, it could be costly over time. Many parts fail due to wearing down and not outright “breaking.” Not all contracts cover instances like anti-lock break system failure or engine overheating. At the end of the day, these seemingly inconsequential distinctions can mean the difference between a reasonable plan and a waste of money.
Lastly, some extended warranty service covers bonus travel expenses, which is a good perk for heavy drivers or those who frequently use their car for out-of-town or out-of-state trips. If customers pop a tire, lock their keys in the car or have a dead battery, then a mechanic will come out and fix the problem at no extra cost. In some cases, hotel rooms, meal expenses, towing fees and rental cars may also be covered. AAA-style trip routing is also available under some extended warranty plans. While it may not “make or break” the deal, per say, it’s still a good feature to be aware of, if the need ever arises. After all, peace of mind is what drives most people to purchase extended warranty service in the first place.
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What You Should Look For When Getting A Car Extended Warranty Plan
An extended warranty plan is a good idea if you’re purchasing a car with a three-year/36,000 mile manufacturer’s warranty. Many of the top-selling brands, including Ford, GM, Saturn, Jeep, Volvo, Volkswagon, Nissan and Honda, offer these smaller warranties, whereas high-end luxury vehicles like Ferrari, Lamborghini and Rolls-Royce are covered for nearly 100,000 miles. However, all 2008 and later GM models are offering a five-year/100,000 mile warranty now. If you have a five-year or six-year warranty, then chances are you’ll be fine. For the smart shopper, there are several things to consider when scouring the internet for an extended warranty quote.
First of all, be sure you’re dealing with a solid company. See that they’re listed in the Better Business Bureau or Web Assured, and that they have years of experience. For example, Warranty Direct has been in business for 26 years and NWC have been in business for 20 years. Read consumer comments and testimonials, check to see if the company services any dealerships and ask if they have a reinsurance program, which means they will be good for the money, even if many people are filing claims all at once.
Secondly, understand your extended warranty plan coverage before you buy. Ask for a very clear, specific “What’s Covered/What’s Not Covered” list. Typical exclusions that no auto extended warranties will cover include: glass, lenses, sealed beams, light bulbs, trim, moldings, bright metal, upholstery, paint, exhaust systems, tires, air bags, batteries, brake rotors, drums, shock absorbers and throttle bodies. However, feel free to ask if they cover things like the anti-lock braking systems, overheating and “wear and tear” coverage. Don’t settle for “mechanical failure/breakdown” coverage only! Also, be sure you ask whether your extended warranty begins at the time of purchase or after the manufacturer’s warranty expires.
There are some common lies that dealers tell consumers to get them roped into an extended warranty plan prematurely. Remember, they are salesmen and they’re out to get the highest commissions and the highest interest, thus gaining them more profits. One excuse is that “the loan won’t be approved unless you buy the insurance.” Be aware that most auto extended warranties can be returned within 30 days with a 100% moneyback guarantee, so if you’re coerced, you can always rid yourself of the plan if you find a better deal elsewhere. Another lie dealers tell is that “you must buy now or you can never get extended warranty coverage.” This is simply not true. The problem with buying from a dealer is that they like to draw up slick pseudo-contracts without showing you exactly what’s covered before you buy. If you look online, then you can go directly to the source and see what you’ll be getting.
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Extended Warranty Essentials For Automobile To Consider
If you’re buying a brand new Lexus or Toyota, then chances are you won’t need an extended warranty. If you’re buying a Pontiac or a Jeep, then it’s a toss-up and you may end up breaking even with the purchase of an automotive warranty. If you’re buying a flashier-but-less-reliable Mercedes-Benz, then you should consider a warranty, according to Consumer Reports. You can buy these warranties online or at a dealership, but there are many things to look for prior to purchasing. The most important thing is that you relax, research and not allow yourself to be pressured into anything.
Did you know that an auto salesman can make more money from selling you an extended warranty than selling you the car? The most profitable part of the retail auto business is, in fact, the extended automobile warranty, where anything over the dealer’s cost is profit. Generally speaking, salesmen get a flat fee for each warranty sold, plus the balance of the profit. The fees can range from 0 to 50, and when compared to third party warranties, dealership plans cost, on average, 40% to 100% more.
Another factor to consider is auto warranty for “wear and tear.” This type of warranty can be hard to find, since many only cover mechanical failure. However, you can definitely find extended warranty coverage that includes “wear and tear,” thereby covering parts like the idler arm, piston rings, U joints, CV joints, wheel bearings, motor mounts, suspension bushings, tie rod ends, seals, gaskets and other engine parts that gradually wear down and may or may not cause a mechanical breakdown.
If you have an anti-lock braking system, then you’ll want to make sure your coverage extends to ABS and instances of overheating. The comprehensive website, carbuyingtips.com recommends Warranty Direct and Nation Warranty Corporation, which both include “wear and tear” in their plans.
The most important thing is that you don’t feel rushed or hassled into securing the extended warranty for your car immediately. Most auto warranties allow you the option of buying later; yet of course, you should only delay as you research, rather than allowing enough time to elapse so your car is a liability. Like with health insurance, it’s much harder to get coverage once problems arise. As with anything, the extended auto warranty is a “buyer beware” scenario, but if you do some homework and understand your auto habits, then the couple of thousand you pay today can save you a small fortune tomorrow.
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What To Expect From The Powershield 2 Year Extended Warranty
“I told my wife she was nuts for buying a warranty on the internet,” as told to Warranty Direct James Prendergast. “We had the opportunity to use your warranty coverage for the first time. The repair cost was 70% of what we paid for the warranty and we still have 45,000 miles of coverage. Now she’ll never let me live it down.” While it may seem outrageous to look for warranty deals and impeccable customer service on the internet, thousands of customers have purchased the PowerShield 2 year extended warranty from Warranty Direct with rave reviews.
The first question consumers should ask is, “What parts are covered with my 2 year extended warranty?” With PowerShield, all the traditional “powertrain” components are included: engine, transmission, computer modules and drive axles. Unlike other warranties, Warranty Direct customers will also be covered for timing belts, water pumps, oil pumps, mechanical fuel pumps, CV joints, universal joints, crankshafts, cam shafts, bearings, bushings and more.
Consumers will NOT be covered for “wear and tear” damaged components like: seals, gaskets, valves, batteries, light bulbs, tires, GPS, trim, molding, handles, spark plugs, rotors, brake pads, hoses, drive belts or wheel alignments. At WarrantyDirect.com, there are other <a href=”http://extendedwarranty.akainfotips.info/2-Year-Extended-Warranty.php”>new car warranties</a> and used car warranties (up to 7 years/100,000 miles) that cover “wear and tear” damage and all of these parts.
It can be difficult to find added protection for older vehicles. It seems that many cars depreciate the moment they are driven off the lot, but Warranty Direct offers to insure vehicles for as much as 150,000 miles! The PowerShield 2 year extended warranty offers 25,000 additional miles of coverage, with the choice of a 0 PER VISIT deductible or Warranty Direct offers a wide variety of coverage options, so consumers should investigate which ones apply to their vehicles. For example, LuxuryCare+ and XtraCare+ coverage is the most comprehensive, which include wear and tear damage, interior/exterior features, rear suspension, anti-lock brakes, cooling and fuel delivery systems. LuxuryCare even includes GPS, DVD video, bluetooth/phone and internet access systems. MajorCare, SecureCare and PowerWrap also cover most of the problems one could run into. Any car 7 years old with mileage 100,000 or less is eligible for these new and used car warranties offered at WarrantyDirect.com. For higher mileage vehicles, consumers must visit Warranty Direct’s other site CarWarranty.com. deductible. No matter how many parts car owners need worked on, they will only pay that one-time 0 deductible, if they choose to pay a small deductible at all, that is! In addition to the 2 year extended warranty coverage, there is also 3 year, 4 year and 5 year used car warranties available, covering up to 100,000 additional miles!
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