After market warranties... Opinions?

[Hessian]

Does anyone here have a recommendation for after market warranties.  I'm looking at buying a Ram 1500 with only 26k on the odometer but its a 2007 so the orig warranty is gone. 

I see a lot of commericals etc but they just seem like a scam.  Does anyone here have a policy that they've used (good or bad).

Thanks much!

[BrianShaughnessy]

My friend George had a $1K warranty policy for his '99 ferd F350...  and then the rear end blew out.    The warranty company himmed and hawwed at the repair costs,  tried to find used rear ends and a bunch of other crap that never happened...  Weeks later and about $2300 from his own pocket he got the truck back just in time to miss Carlisle '10.

I personally think they're useless.   You'd be better off setting money aside for possible repairs rather than give it to some bloodsucking insurance company.   Doesn't cover stuff like tires and brakes and normal wear items anyway. 

[Silver R/T]

My friend George had a $1K warranty policy for his '99 ferd F350...  and then the rear end blew out.    The warranty company himmed and hawwed at the repair costs,  tried to find used rear ends and a bunch of other crap that never happened...  Weeks later and about $2300 from his own pocket he got the truck back just in time to miss Carlisle '10.

I personally think they're useless.   You'd be better off setting money aside for possible repairs rather than give it to some bloodsucking insurance company.   Doesn't cover stuff like tires and brakes and normal wear items anyway. 

what he said, it's waste of money. Put that money in retirement fund of saving account if you have extra money.

[resq302]

I don't go with the aftermarket company crap that they send to you.  If I get a warranty from a dealership, I usually the the extended warranty through the dealer (in my case bought a used 07 F150 and got the Ford Extended Service Plan) and luckily I had it as a bearing went in my trans and it was covered except for the $100 deductible and I got a loaner car for the week they had my truck.  I thought it would have been covered under the 5 yr 60K mile warranty but they said since the truck went "in service" before 2007 (im guessing late 2006) that is why they had to use the extended warranty.  So far that extended warranty covered my half axle CV joint boot going (they replaced the whole half axle instead of putting a new boot on), vacuum locking hub for my 4x4, warped exhaust manifold, VCT cam phaser and sensor, and some other stuff.

[Old Moparz]

Don't buy one, bank the equivalent amount of money & call it a day.  

I've only purchased one extended warranty in my lifetime & got screwed & have heard countless stories of how others got screwed far worse. Mine was only for a CD Changer in the late 80's, & it was the only time I can remember actually needing an extended plan. This was because the changer died about 1 week after the regular warranty expired. Well, the company behind the warranty plan went out of business so I had to go buy a new changer & ate the warranty cost.  

I know a CD Changer isn't a car, but in my opinion, extended warranties are usually a waste of money. The ones for used vehicles are too expensive to consider it a worthwhile investment. I bought a used Ford F-150 years ago from a dealership. The sales manager tried REALLY hard to sell me an extended plan which was only for a year. I listened to his 15 minute sales pitch filled with the fear of being stranded, the horrors of the drive train exploding into a mushroom cloud, & not being able to afford the $5 million dollar repair bills.

When he was done I said, "How much?"

He said, "Only $1700 for 12 months.  

By the time I said no several times, the price was down to $1100. Amazing what kind of profit margin is built in from the beginning.

And that Ford never broke down during the 80,000 miles I put on it before I sold it.

[moparguy01]

From the people I know who bought them I have concluded that the aftermarket warranties work great....if it's the 53rd day of the 19th month of the year, the damage was dOne by a drunken clown named Fred using a giant pink fuzzy bunny. Any other time it's worthless.

[Old Moparz]

From the people I know who bought them I have concluded that the aftermarket warranties work great....if it's the 53rd day of the 19th month of the year, the damage was dOne by a drunken clown named Fred using a giant pink fuzzy bunny. Any other time it's worthless.

Was that stipulation in writing?    It wouldn't be legally binding if it wasn't.

[resq302]

I seem to recall my ext. warranty was something like $1500 or $1200 or something by the time all was said and done and it was rolled right into the monthly payment.  For the work on the trans alone, it would have been way more than that so its one of those things like a spare tire.  You hope you never have to use it but at least it is there to get you out of a bind.

[gtx6970]

Most are not worth the paper they are printed on.
Most will use junk yard parts to fix it,After they haggle you for hours trying to get out of covering it in the 1st place saying it's lack of maint or some stupid crap like that.

If you can't buy a manufactures extended warrenty , IMO, put the money these aftrmkt contracts cost in the bank and draw the interest off of it - save your money

This comes from a 24 year dodge dealer tech with 1st hand dealings with these sharks

[bull]

The few times I've heard Dave Ramsey and Clark Howard on the radio they both think they're a waste of money.

From Ramsey: "Extended warranties are not a good deal!

Extended warranties are insurance, and insurance is made up of four components: commissions, overhead expenses, the statistical probability of the event occurring, and profit. When you buy an extended warranty, you're covering commissions, overhead, and profit. Only about 13 percent of what you're paying for an extended warranty goes toward actual repair costs.

If you set the amount of most extended warranties aside, you could cover the average repair costs on your vehicle yourself. Extended warranties are extremely profitable for those selling them and a terrible deal for those buying them.

Fifteen hundred dollars for an air conditioning repair on a 2000 pickup is a rip off. Self-insure with an emergency fund and choose your repair people better!"

[Kern Dog]

This is always a hot topic. We dont want to get boned by an unexpected HUGE repair bill, so we add $50 per month to an already high $480 per month payment. Then the A/C craps out, or the axle develops a whine. The Warranty guys stonewall you just like a crappy HMO and you realize that you have REALLY been boned.
I went through a situation very similar with my 2007 Ram 5.7. It developed a Cyl #4 misfire due to a sticking MDS lifter. They had to pull the head, piston and rod, hone the cylinder and replace the lifter and piston rings. After 2 1/2 weeks of back and forth, they finally caved. they wanted oil change records even though I do all the basic maintenence myself. I made a list, THEN they wanted reciepts for the actual oil bottles and filters. The problem wasn't related to the oil in any way. The oil passages were clean in my engine, it was a defective lifter. It didn't matter. They were looking for ANY excuse to deny the claim. A member of my local car club had flaking clearcoat on her minivan and wanted it repainted. The dealer in her area also wanted oil change records. Yeah, because CLEAN oil will preserve your paint ! ??

[Aero426]

Google "US Fidelis" which is the poster child for aftermarket warranty scams.  Yes, even Rusty got scammed.

[71charger_fan]

http://www.carbuyingtips.com/warranty.htm

[jaak]

After market car warranties, even factory extended warranties are not worth the paper they are written on. I mean how often does a 'major' repair come along? If your A/c craps out, or trans needs a rebuild......just pay the cash, you still probably come out cheaper than paying for 'protection'

I bought a Chrysler extended warranty on a car back about 10 years ago, has a  lot of fine print and legal jargon that gets them out of paying if they want....total crock of shit. I also worked at 2 different dealership service departments, and had a few run-in's with aftermarket warranties.

IMHO, they are NOT worth it.

Jason

[RiverRaider]

Does anyone here have a recommendation for after market warranties.  I'm looking at buying a Ram 1500 with only 26k on the odometer but its a 2007 so the orig warranty is gone. 

I see a lot of commericals etc but they just seem like a scam.  Does anyone here have a policy that they've used (good or bad).

Thanks much!

I will not get one again. 
API Automotive Professionals Inc. Filed chapter 11.
Check out http://www.apibankruptcy.com/  This was not their first time just a different business name.
Some may have had good luck but there are thousands who have not.  I believe over 8500 that had API.

[Hessian]

Wow,  thanks everyone.  I'm not going to get one now due to your input.  Thanks much!