Archive for the ‘new car warranties’ tag
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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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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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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