After-market Extended Auto Warranty

[LeonH]

Hi guys and gals. I am looking for some advice.

I am strongly considering to supplement my existing power-train warranty on my 2008 F250 SD diesel. Going with Global Warranty I can get 2 Year, 40K Kms their best coverage for used vehicle (4 star package) for $2,150 + tax. 4 star includes more less everything including wear and tear. Deductible per service visit is $150.00, which now days in dealerships buys you about 1Hr of labour. By the way I have about 125K and 20 months on existing power-train with Ford. My truck is Lariet model so there is lots of electronic options.

I will have to do all standard maintenance in professional shop as they do check that the vehicle had been properly taken care of. Do it yourself does not fly.

What do you think, is it good investment. If anyone has any experiences with these type of warranty I would love to hear (good or bad).

[FishingMOM]

Originally Posted by LeonH

Hi guys and gals. I am looking for some advice.

I am strongly considering to supplement my existing power-train warranty on my 2008 F250 SD diesel. Going with Global Warranty I can get 2 Year, 40K Kms their best coverage for used vehicle (4 star package) for $2,150 + tax. 4 star includes more less everything including wear and tear. Deductible per service visit is $150.00, which now days in dealerships buys you about 1Hr of labour. By the way I have about 125K and 20 months on existing power-train with Ford. My truck is Lariet model so there is lots of electronic options.

I will have to do all standard maintenance in professional shop as they do check that the vehicle had been properly taken care of. Do it yourself does not fly.

What do you think, is it good investment. If anyone has any experiences with these type of warranty I would love to hear (good or bad).

scam

[LeonH]

Originally Posted by FishingMOM

scam

Can you elaborate why you think this?

I would be getting this through driving force vehicle dealer and would think that they would not want to screw their own reputation if it is real rotten deal. But i would love to hear what you know.

Thanks
Leon

[wwbirds]

Check consumer report magazine for there have been several articles over the years citing premiums for coverage as ridiculous for what you get. They have the odds slanted in their favor and probably 80% of those paying premiums never put in a claim. Apparently if you religiously put away $500. per year (self insurance) for unforeseen repairs you will be ahead.
Having said that if you are one of the miniscule percentage that finds themselves facing a major repair the $2100. will look cheap. Just seems that a large percentage pay and very few claim so it is 80% profit for the company after claims. Are you feeling lucky????

[Wapiti88]

Well I don't know what kind of experience FM had, but I had some good ones. I purchased the after market warranty package when I bought my truck(used)and all was real good!! All you had to do was get your oil changed at a lube joint(Mr. Lube, Minit Lube, etc., etc.)to maintain good standing within the warranty guidelines, then if you had a problem, you call them and they tell you where to take it in your area for repairs, pay the deductible and done!! My deductible was $100, so for two trannies, an alternator and front axle u-joints I paid $420!!(First tranny job sucked, but they told me where to take it) In my opinion it was worth the $1400 it cost as this plus the $420 in deductible costs still didn't add up to one tranny job. JMO. Happy new year.

[stuckincity]

Originally Posted by LeonH

What do you think, is it good investment. If anyone has any experiences with these type of warranty I would love to hear (good or bad).

Pure BS! We fell for that with a certain GM dealer here in town with a used truck, which cost us 450 bucks for the "warranty". The stealer....dealer said that if we didn't use the warranty within 1 year, we'd get a refund.
After a year, we tried to collect the refund and were told it was "only a verbal agreement". We checked the bill of sale we signed, and it was in there, but with so many strings attatched that a refund was pretty well impossible. I guess we didn't read carefully enough. (Stupid things like regular oil changes must be done at that stealership), although we were told verbally that it was OK for me to do them.

When we complained to GM's customer "service", we were brushed off with "its up to the dealer".

Tell 'em you want your lawyer to read the agreement and see how they react - I'll bet they'll show true fear, or think up some slimy cliche.

I think its a scam too, and we'll NEVER consider another domestic vehicle - ESPECIALLY not a GM.

[GeoTrekr]

http://www.bbb.org/western-ontario/b...london-on-1907

Granted this link is for western Ontario, but it doesn't seem too bad.

I guess one of the larger factors to consider is the stipulation that all service has to be done by professionals, and probably to whatever standards they deem appropriate. Oil changes on a diesel cost a fortune at the shop, and many owners of diesel vehicles choose to do them themselves. If you were never planning on attempting your own oil change, then I suppose it doesn't apply, but you may wish to determine if the intervals match the intervals you are accustomed to (eg. hopefully not every 5000 kms for a diesel with synthetic oil, etc.).

I have no experience with Global Warranty, so I don't know if they're the type of business that will take you under their wing when something goes wrong, or will refuse to replace your snapped axle because you missed an oil change 100 kms ago...

[FishingMOM]

Originally Posted by LeonH

Can you elaborate why you think this?

I would be getting this through driving force vehicle dealer and would think that they would not want to screw their own reputation if it is real rotten deal. But i would love to hear what you know.

Thanks
Leon

LEON,

My boss who is elderly was scammed into this. The file is being investigated.
The are illegal is to sell in Alberta and BC. I would have to go back and dig up the old files for the government on this.

Please if you want to throw away that kind of cash, donate it to the childrens hospital please.

http://www.youtube.com/watch?v=dpIFeO9HQzk

[LeonH]

Thanks for your responses. I do want to mention that I checked the Global Warranty BBB rating and it is A+.

If I bought from Ford equivalent package Ford quoted me about $1000.00 more.

My biggest issue is that I already have power-train warranty for 20 months with Ford and this coverage would pushed power-train to 24 months with this plan. Power-train components are most costly repairs, so for extra 4 months is it worth it. However, there are so many things that are not under warranty right now but would be covered if I got extended warranty.

This company does not provide refund if warranty is not used, but i would not expect it anyways. The terms are more less as Wapiti88 stated as far as my maintenance requirements (regular oil changes).

[LeonH]

Originally Posted by GeoTrekr

http://www.bbb.org/western-ontario/b...london-on-1907

Granted this link is for western Ontario, but it doesn't seem too bad.

I guess one of the larger factors to consider is the stipulation that all service has to be done by professionals, and probably to whatever standards they deem appropriate. Oil changes on a diesel cost a fortune at the shop, and many owners of diesel vehicles choose to do them themselves. If you were never planning on attempting your own oil change, then I suppose it doesn't apply, but you may wish to determine if the intervals match the intervals you are accustomed to (eg. hopefully not every 5000 kms for a diesel with synthetic oil, etc.).

I have no experience with Global Warranty, so I don't know if they're the type of business that will take you under their wing when something goes wrong, or will refuse to replace your snapped axle because you missed an oil change 100 kms ago...

For diesels they expect you to do oil change every 6 months or 10,000 Kms. This is the first thing I looked for.

[FishingMOM]

Originally Posted by LeonH

Thanks for your responses. I do want to mention that I checked the Global Warranty BBB rating and it is A+.

Albertans who have already signed up should contact their credit card company right away to see if the charges can be reversed, he said. They can also file a complaint with the Alberta government by calling 1-877-427-4088.

The governments of British Columbia and Saskatchewan have gone even further, issuing cease and desist orders against Canadian Auto Warranty Services and World Wide Warranties Inc.

Read more: http://www.cbc.ca/canada/calgary/sto...#ixzz19X4IKk4O

These clowns operate under 10-15 different names.


You do Understand BBB ratings are PAID for?
You pay the BBB for their ratings.

[Sooner]

I have bought the ford backed extended warrenty on two of my vehicles. Both were used for everthing from starters to a tranny. 100 dollar deductible and never had a problen using it the dealer. It absolutly paid for itself and then some by quite a bit. I would be leary of a non dealer backed warrenty.

[tukindubs]

Does Ford have a extended warranty plan ? you should go with that if they do. I have worked in dealers for over 10 years. I would not buy a aftermarket warranty unless you **** kick your trunk, keep up with maint and feel it will need a new engine or transmission in the next year or so.

Where I work we deal with aftermarket warranty people buy from used car lots, its not uncommon for the aftermarket warranty to deny paying for repairs or deside they only want to pay half.

[LeonH]

Originally Posted by tukindubs

Does Ford have a extended warranty plan ? you should go with that if they do. I have worked in dealers for over 10 years. I would not buy a aftermarket warranty unless you **** kick your trunk, keep up with maint and feel it will need a new engine or transmission in the next year or so.

Where I work we deal with aftermarket warranty people buy from used car lots, its not uncommon for the aftermarket warranty to deny paying for repairs or deside they only want to pay half.

Thanks to all that responded, it is good to hear all points of view. If I go with this warranty provider this particular plan covers up to full vehicle value but they do offer less expensive plans that have max payout per claim of 3 to 4 thousands. In my case power-train service/repairs would be done by Ford as I still have another 35K Kms of coverage with them. Only other repairs would go through this warranty provider and they recommend list of service providers in a given area who should do repairs.

Driving Force dealership has another company that they deal with but this provider can offer me only power-train type of coverage due to age/mileage of my truck, so I was not interested in that one as I already have it. But interested thing is that you choose where repairs are done (it can be at Ford or somewhere else altogether).

As far as article that FishingMom quoted from CBC, it sounds like scam by specific group or individual pretending to be legit warranty provider company and governments are stepping in to put a stop to it and protect consumers. Please do not get me wrong as I really appreciate your honest advice but I really do think it is legit company but I am just unsure if it is worth the money. I guess one will never know but it is nice to hear personal experiences to help in making my decision.

Thanks a lot for your time, especially during this busy season.

Happy New Year Everybody.

[kinwahkly]

Stay away from that warranty, I work for a car dealership, go to a ford dealer and buy an extended service contract from a reputable dealer, I have ahd experience with that warranty and its no good!!!

[Faststeel]

I bought an extended warranty when I bought my slightly used 2005 F150 in 2006 for $1900.00, never needed it, won't be buying another with my 2010 F150 I am getting next week. FS

[Rustynail21]

I used coverage 1 for 2 years on the X5. Spent more then the value of the warranty twice over with no problems from the warranty company.

I need to renew it (parts are stupid on the X5) so I was thinking about Global as well. Cheaper and better coverage. Going to ask my shop to speak to their claim specialist and I'll go from there...

Russ

[Giterdone]

I've used Lubrico in the past and never had a claim so I can't really judge them. Also had warranty through I believe it 's called FSP? It's the one that promises to refund your original investment if no claims are made during warranty period. Received a cheque for $2000 one month after warranty period over. No problems there. I now have the 3 year wear and tear warranty from Global on my 2004 F350 diesel and will wait and see. Hopefully I won't have to make a claim and my 2 grand will be gone but I will have had 3 years of piece of mind. I did some research on Global and was quite satisfied with what I read for reviews. Warranties are like buying Life insurance, like I said above, it's just piece of mind.

By the way. Check into what the cost of some of the more common repairs cost. ie: Turbo on the deisel, tranny, steering and suspension, Global warranty also covers electrical such as ps switchs and motors, stereo etc. Personally if something goes I don't have a spare grand or more kicking around.

[wsmman]

I got the extended engine warranty for my 08 f350 covers upto 350,000 kms so far I've used it twice. I have a small leak from my return line on one of the turbos and the dealership told me at a minimum they are going to have to take the tranny out if not lift the cab. The warranty is going to pay for itself real quick in the next visit. This was a ford issued warranty and cost around 3500$.

I got two trucks with this type of warranty, so far both will pay for themselves before the warranty runs out. Motor work cost a tonne and your not going to the backyard mechanic to lift the cab off your truck to fix some oil leak. Other than the motor work I haven't done any front end work or electronic work to the truck. It has about 210,000 kms so far and lots of warranty left.

[wsmman]

I got the extended engine warranty for my 08 f350 covers upto 350,000 kms so far I've used it twice. I have a small leak from my return line on one of the turbos and the dealership told me at a minimum they are going to have to take the tranny out if not lift the cab. The warranty is going to pay for itself real quick in the next visit. This was a ford issued warranty and cost around 3500$.

I got two trucks with this type of warranty, so far both will pay for themselves before the warranty runs out. Motor work cost a tonne and your not going to the backyard mechanic to lift the cab off your truck to fix some oil leak. Other than the motor work I haven't done any front end work or electronic work to the truck. It has about 210,000 kms so far and lots of warranty left. This truck is also a lariat with a bunch of fancy electronic crap. So far so good

[TRAPPER92]

Warranties are about as good as the paper they are written on. A guy I work with bought all the extended warranty and his tranny went out. Instead of giving him a new one they just rebiult the one he had. After less than 200 km it went again. now they are giving all kinds of excuses for not covering it. So on top of paying the extended warranty he has to dish out over 5000 grand for another tranny.