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USFidelis is in quite a bit of trouble right now with many States because of their sales practices. That however does not mean that all "warranty" companies are bad, though I would recommend dealing with someone other than a broker (usually the TV and Internet ads you see).
If you are interested in a "warranty" check with your personal auto insurance provider and with your local Credit Union.
A lot of the bad feelings about "extended warranties" comes from many years back when RRG (Risk Retention Groups) took peoples money for warranties and then went out of business taking the money with them.
Typically an insurance company will be more stable and is required to have funds available in case the company is going under.
For a legitimate "warranty" company (I.E. Insurance company) the "warranty" business isn't as much of a money making plan as people seem to think it is.
Texdav:
The cost varies depending on vehicle and mileage. Asian vehicles are known for being better than American vehicles and European vehicles are the worst. The more mileage the vehicle has the more expensive the coverage will be. The cost also depends on where you purchased the coverage. Purchasing through an Insurance Agent or Credit Union will be cheaper than going through a Dealership or Broker.
Wow, kind of unfortunate to hear about people feel like they are being scammed and treated unfairly by USfidelis. I thought Rusty Wallace did a good commercial for them, guess that's the only good thing they have going for them...
LOL...the other day a commercial from some lawyer comes on asking "have you been a victim of the US Fidelis"? call such and such lawyer group. Followed by a commercial for US Fidelis with Rusty Wallace and his son (Brian?) touting how great they were. Priceless!
As a mechanic I know that many cars get to the point that they can cost MORE to fix than they are worth.(unless you do your own repairs) . Buying any kind of warranty or what ever doe not change this so its easy to say Fidelis is either a con or a company that very soon go bankrupt, Rusty Wallace is nothing but a paid hoe and his retarded looking son too..lol
an extended warranty purchased at the time you purchase your vehicle, financed together, can cost between 12 and 40 bucks a month... cheap, easy to swallow insurance to help you get your car fixed when you don't have $1800 to fix the a/c or $2400 to fix the transmission, $100 deductible? can't beat it...
i worked as a tech, and did work for these companies, usually no hassle getting claims approved, and customers were always very happy when they did not have to come out of pocket
people who should very highly consider one : people who work seasonal and don't have any cash flow during summer or winter (teachers, contract workers, etc) and people with low incomes who cannot come out of pocket for repairs
also, people who keep their vehicles a long time may benefit from one
two cases to prove EITHER WAY
i have a 2005 chevy trailblazer with 91xxx miles and didn't buy a warranty, i have had to put a belt tensioner and rear brakes on it, and i need to replace the thermostat housing because it runs cold, go figure
my mom bought a 2004 trailblazer, it has about 62k miles on it now, she bought a warranty with a $75.00 deductible. she used it twice and has had almost $1600.00 worth of work done, the policy cost her $1750.00..
are they worth it? yes, can you get your money back if you don't have a claim on it? sometimes, yes.
an extended warranty purchased at the time you purchase your vehicle, financed together, can cost between 12 and 40 bucks a month... cheap, easy to swallow insurance to help you get your car fixed when you don't have $1800 to fix the a/c or $2400 to fix the transmission, $100 deductible? can't beat it...
i worked as a tech, and did work for these companies, usually no hassle getting claims approved, and customers were always very happy when they did not have to come out of pocket
people who should very highly consider one : people who work seasonal and don't have any cash flow during summer or winter (teachers, contract workers, etc) and people with low incomes who cannot come out of pocket for repairs
also, people who keep their vehicles a long time may benefit from one
two cases to prove EITHER WAY
i have a 2005 chevy trailblazer with 91xxx miles and didn't buy a warranty, i have had to put a belt tensioner and rear brakes on it, and i need to replace the thermostat housing because it runs cold, go figure
my mom bought a 2004 trailblazer, it has about 62k miles on it now, she bought a warranty with a $75.00 deductible. she used it twice and has had almost $1600.00 worth of work done, the policy cost her $1750.00..
are they worth it? yes, can you get your money back if you don't have a claim on it? sometimes, yes.
For me it would depend on the vehicle. Cars with poor reputations.. I would. A Subaru.. nope.
Second factor is how long you keep your vehicle. If you are the type of person that replaces a car every 2/3 years w/ warranty remaining on the vehicle, no need. If you keep your car until it falls apart and it's not a reliable make.. might be a good thing to have.
They state that 65% of those who bought an extended warranty did not make up for the cost. They also state that if you purchase a vehicle with poor reliability (e.g., Mercedes) it may be worth considering.
While this company is obviously deceptive and certainly deserving of mass media slander, people still need to be responsible for their own actions. The documents they give you explain everything... yeah all that boring "fine print", if you need something like this that bad read everything! This isn't corporate tax law, none of it is really hard to understand. And honestly... you truly have to be un-intelligent if you actually think there is a hint of truth to any of their annoying commercials or phone calls. People are just lazy... don't want to spend time reading the details, they just want instant gratification... and well, if they get swindled its an absolute travesty and they start complaining and threatening until they get what they want or no longer have the motivation to do so.
Sure.... screw fidelis. absolutely. However shame on the people who buy into such obvious garbage... no one forced them to do it.
What do some you view as an alternative to these extended warranties? I remember reading once that it was recommended that you take the money that you would use to buy an extended warranty and instead put that money in a money market savings account at a bank and use that money to cover repairs.
Bingo. That's exactly what you do.
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