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Well, the bottom line is to always investigate and research these things before you invest in them. I see these so called warranty companies on TV all the time and I always figured they sounded a little too good to be true.
^ Just like any company, legitimate or otherwise, they are in business to make money. And they don't make money by doing you, the consumer, any favors.
While i don't think these warranties are worth the cost;I see some problems with their investigation. like the woman they showed with the overheating car. it didn't say why it overheated such as her possibly not do maintenance. Also the EX-employeees that were let go isn't great testimony.Not saying they are good but many of these investigaitons are just as bad as what they are investigating.I think tho that its easy to see why so many took bad laons in housing alos;they don't look at what they are buying really.Unless you bother to look many things are bad buys.If you looked at the nmber of complaints to attorney generals it often only shows that customers bought without really knowing often what they were buying. For instance automakers have millons of compliannts every years turned in every year on warranties sold, as bumper to bumper for three years.In any insurnace or warranty you need to know what your buying and what it covers.I think the ad was misleading but it wouldn't fool many people IMO.
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.
Bascically you have to decide if you want insurance or not. I know on my 33000 van they wanted 1600 for four more years of warranty with no deductbale from Honda. I can't beleieve she paid 3000+ on a PT Cruiser. Also why did the car overheat and what was the damage. Did she burn the engine up continuing to drive it?Had she done the maintanamce recommended ?Too many questions here.
I pretty much stay away from these type of warranties. Determination of coverage on each and every claim is too subjective by the warranty provider. They can find a reason to deny any claim they wish. I'd rather take my chances paying out of pocket for repairs as they come along.
While i don't think these warranties are worth the cost;I see some problems with their investigation. like the woman they showed with the overheating car. it didn't say why it overheated such as her possibly not do maintenance. Also the EX-employeees that were let go isn't great testimony.Not saying they are good but many of these investigaitons are just as bad as what they are investigating.I think tho that its easy to see why so many took bad laons in housing alos;they don't look at what they are buying really.Unless you bother to look many things are bad buys.If you looked at the nmber of complaints to attorney generals it often only shows that customers bought without really knowing often what they were buying. For instance automakers have millons of compliannts every years turned in every year on warranties sold, as bumper to bumper for three years.In any insurnace or warranty you need to know what your buying and what it covers.I think the ad was misleading but it wouldn't fool many people IMO.
I agree and I felt like the lady with the car didn't sound very savvy when it comes to automobiles, and that's who these companies target. They put these ads on TV making it sound like you can just run into any repair shop with any problem and get it fixed, when in reality they only cover certain things. No way in heck would I pay $3000 for that crap. Better to do like one poster said, take that same money and put it in an account for emergencies.
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