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Aftermarket auto warranties?

Discussion in 'General Automotive Discussion' started by Johnny Bravo, Mar 11, 2005.

  1. Johnny Bravo

    Johnny Bravo Formula Junior

    Jul 22, 2003
    532
    DC Metro/MD
    Full Name:
    Ben
    Whelp, I've been the in the market for a new vehicle (daily driver) for some time now & have an opportunity to get something that, if purchased, I'd like to get an aftermarket warranty on it. I've done some searching and found a bit of info, but I'm just wondering if anybody here has had any experience with them. Any info would be appreciated.
     
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  3. sduke

    sduke Formula Junior

    Mar 10, 2003
    825
    The Hub City, Texas
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    Steven D
    Make sure any warranty you are looking at is accepted by the dealer or your shop before you put any money into the warranty. Make sure you can get a refund on any unused warranty if you decide to cancel the coverage ( sell car, move to a new area, etc.)

    I would avoid the products issued by EFG. We will no longer accept any warranty claims assigned to EFG. I do not think any dealership in the Group 1 platform will accept it. (160+ dealers)

    We have a good relationship with Warrantech, and of course with the GST extended plan since we are a Toyota dealer.

    Read the entire warranty. There are a lot of exclusions to coverage. When most companies say bumper to bumper, they are not being honest. I have seen very few that cover electrical problems like window motors and heater motors. Some do, but it is usually a pricey policy. Most interior items are not covered. Often, alternators and starters are not covered. It is usually only internally lubricated parts that are covered.

    I always tell people that ask me if extended warranty policys are worth the expense..."Only if you have a catastrophic failure". If you pay $1500.00 for an extended warranty, unless you have a $1500.00 failure, you will be ahead by NOT purchasing the policy. Also, some companies have a $200.00 deductible which will eliminate any claim under $200.00. Of course a major failure (engine, trans, diff) will be more than $1500.00. But I always remind people that depending on the make of car you are looking at, the odds of such a failure is very remote. (as an aside, I do not recall the last Toyota engine, trans, or differential failure in my shop that was not due to improper maintenance) Proper maintenance prevent 95% of all premature failures. If you have an extended warranty, make sure you religiously keep all service records. It is not uncommon for a company to deny coverage (ie. an engine failure) if the customer cannot produce oil change receipts.

    If you are going to use the car a lot, (15,000 miles a year or more) I think an extended warranty would be a better idea than if you only drive 8-10,000 miles a year.

    Of course, this is all personal opinion. I only know what happens in my store.
     
  4. Johnny Bravo

    Johnny Bravo Formula Junior

    Jul 22, 2003
    532
    DC Metro/MD
    Full Name:
    Ben
    #3 Johnny Bravo, Mar 12, 2005
    Last edited by a moderator: Sep 7, 2017
    Thank you so much for the very informative and thoroughly in-depth reply, Steve! :) The particular vehicle I'm considering in re: warranty is a '99 Isuzu VehiCROSS (the moon buggy looking SUV thingy).

    The reason I'm considering a warranty for it is for one: the factory warranty has expired, two: the 3.5L V6 in it (also used in the Trooper) has been known to burn oil (supposedly w/in factory design specs though...according to Isuzu) which may lead to bigger engine problems (potential big $ issue; not a proven problem per-se, but a possible real issue), and three: body panels/cladding can be tough & expensive to come by as they're rare vehicles. It has low mileage (53k), the price is right, has been a favorite of mine for years, is located at a small'ish nearby dealer who is eager to deal, and in overall great shape so it's still somewhat in the cards, but is by no means the only vehicle I'm considering.

    My main concerns with purchasing an aftermarket warranty would be overall coverage (especially drivetrain) and finding places that will work with it and soforth. Does this sound like a situation where purchasing an aftermarket warranty would be a good idea? Assuming it's a quality and comprehensive warranty that is. Justifying the cost of one is the tough part as they're not exactly inexpensive.

    FWIW here's a pic of the vehicle in question just for reference :D:
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  5. Dino Martini

    Dino Martini F1 Rookie

    Dec 21, 2004
    4,619
    Calgary Alberta
    Full Name:
    Martin
    Auto Warranties? whats the point of them? they dont cover anything to fix anything on the car. And if im going to buy a new car, them giving me a warranty shouldnt that mean the car is a piece of ****?
     
  6. sduke

    sduke Formula Junior

    Mar 10, 2003
    825
    The Hub City, Texas
    Full Name:
    Steven D
    Johnny

    If you are purchasing the V-Cross from an Isuzu dealer you might approach the dealer about an oil consumption test as part of your purchase contract. If the vehicle fails, you return the vehicle. Our dealership has done that before on an Avalon where the new buyer was acquainted with the previous owner. The previous owner felt the car used too much oil. Turned out the previous owner was correct and the deal was voided. We wholesaled the Avalon.

    I am not fully versed with Isuzu, but it appears the V6 does have some oil consumption issues. I googled "isuzu oil consumption" and got a lot of results from very angry customers. The listed factory spec of 1qt per 1000 miles is nonsense if true. That is more than just excessive. That is nearly criminal. If this is Isuzu's official policy, I would probably pass on any Isuzu product. I don't think I could deal with a company that held such a low standard for their product.

    If you are serious about the vehicle, I might recommend a very limited extended warranty. You might want to find a policy that is very specific for internal parts. It would be cheaper and would cover the most likely failure. I find most extended warranties overpriced and underwhelming.

    A far as the body cladding, I know of no extended warranties that would cover any kind of body work. If the cladding is rare and expensive now, it will only get worse, which may make the vehicle less attractive.

    I would ask the dealer if they have the previous owners name and phone number. If they don't, you could contact the nearest Isuzu dealer and see if they have any kind of service history for the VIN. Some dealers will tell you if the car was serviced by them, some won't. It's worth a try.

    Also, get a carfax on the VIN

    good luck
     
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