The Ins and Outs of Extended Warranties | Your Questions Answered
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- Опубликовано: 11 июл 2024
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Today on the Daily News You Can Use, Justise and Kimberly answer your burning F&I questions to uncover whether it's the right option for you. Tune in to learn more! 
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You guys did great! I just agreed on a OTD this morning for a pre-owned 2019 Honda Pilot with 53K miles for $31500 after following all of CarEdge’s advice. This was the perfect video for me today as I prepare for the finance office tomorrow. Bring it on!
Confession: I only purchased "extended warranty" on two occasions; the first time was on a vehicle w/less than 40k miles (but a Dodge) and it was a 3rd party warranty. The second time was on a super low mileage (V6) Mustang that was about to run out of warranty due to TIME elapsed (36 mos), and this was (allegedly) a Ford extended warranty purchased with the car from a Ford dealer.
I attempted 2 claims with each "warranty" and never got a dime of coverage. I didn't read the contract closely in either case. As a result, I've never made that mistake again and believe that extended warranties must be a scam. I hope they work for everyone else, but never again.
I like that with this video theres no clickbait title or thumbnail. Please try to keep making them like this.
You two knocked this video out of the Park! Home Run! Seriously one of the best CarEdge shows ever 💯💯👍👍
The funny thing for me with extended warranties and something I always continue to get these notices in the mail. My Monte Carlo is 21 years old now and 110 thousand miles on it, yet like I said I keep getting these in the mail " your time is running out to sign up for this extended warranty". I just laugh at it and throw it away in the garbage.
A lot of great information thanks!
I enjoyed having you on this week. Did not skip live because of you, just not available.
I just love Kimberly...she's so damned knowledgeable.
Thanks - learned a bunch
Warranties can only be issued by vehicle manufacturers. All else are third party insurance policies.
WOW, this was very helpful! Kimberly helped me a lot, I don't really like warranties but this was super helpful information. probably still won't get a v.s.c. but I love to have the information for in the finance office
Awesome @Deke Rivers! Thank you for being here!
I would like to note there is nothing wrong with the background, one of Zachs main tenants of CarEdge is transparency, I misunderstood, and here we are. Kimberly has explained it to me so i understand now.
Awesome podcast!! Thank you….; ALL of what you all do to educate us out here looking to there to by a car…. As a woman I am hoping the salesperson and Finance person will be fair…I will have your worksheet and knowledge with me…just hope they will not try to bamboozle me. If so I will walk out….and come to you guys. Hugs
Most manufacturers have low interest program now so don't get talked out of the low APR. The extended warranty is always cheaper when the vehicle is under the 12 months 12K. After that it will go up. There are price increases every year because inflation they also go up if you are over 36 months and 36K. You can usually buy them online cheaper than your selling dealer. For Ford you can transfer it to a new owner or get a refund for the unused portion. For about $ 1000 to $ 1500 you can get some long term coverage with a hundred dollar deductible. They sell them for $50 over cost because they look at them as found business. Ford warranties start from the original date of when the new car warranty. You can go up to 10 years and 175K.
Justice has learned Ray's pantented dance
My warranty - Hyundai is 5/100k here - but the business person said, if you look it is not really bumper to bumper as we wish (one reason I pondered the hybrid version, was that "a lot" of the warranty information would say (*8/160 hybrid) so about $2200 more (back then) for the hybrid - better equipped, less wear (apparently), independent rear suspension and a geared transmission over iVT - it is almost a no brainer upgrade eh? Mine shows in some paperwork like it takes over for the warranty at the 5/100k - but I can tell you it was supposed to be "free rental and tire repairs etc" I have to ask Hyundai as they charged me like $98 for a "tack in the tire" repair and the service writer I asked like 3 times and he said, no no I see your warranty and its not covered (I got the best warranty Hyundai they offered (160k/8)- everything but wear, plus a bunch of bonus things - transferable (refundable if not used), rental if car kept overnight, ELECTRONICS (my worry). Mine can be transferred to MYSELF if I get another of their cars before it expires - I suspect more like a 'rebate'.
Why won’t my dealer tell me what the VSC is going to cost before my new vehicle is delivered.
What about "Add-ons"?
Dealers are adding stuff to vehicles when the get to the dealership and say you have no choice because it's already been added
Yes, that is what I don't like is the addon fees which are on the vehicles sticker label such as wheel locks, Vin etching, interior protection, vehicle striping or tinted windows, etc. and charging us an additional 2000 dollars for all that. The dealers force us to pay for more items above and beyond the MSRP price. Just walk away if they don't remove those items or fees, try to tell them to take that number off of the MSRP price. You don't have to buy the vehicle. Same thing goes with extra DOC fees and protection plans.
@Kimberly Kline one of these videos says to call the manufacturer and ask them if customers are supposed to pay for the add-ons. Sorry!!! GM told me that the dealers are independently owned and if they add things to the vehicle before purchasing, you have to pay if they charge. Is it negotiable? Sure but the dealers will not budge and all of the dealers are doing this!!!!!
Can a dealer reject my third party extended warranty because they don't like the insurer?
Please do a session on maintenance/service contracts (not VSC)
Would love to do that! Thank you!
I bought a used car from a dealership with complete service records, one owner. I agreed on the purchase only if they offered a warranty and routine oil change maintenance and inspection. They tried to fluff it up, but I asked them to give it to me at cost. They got me a lifetime oil service with inspection as long as it was at one of their dealerships. What would void out a warranty or their service agreements?
Wait.. @dantedressage , I really to know. my credit union sells route 66. Is it not any good??
I have a Dealership trying to get me for $798.00 for Documents prep fee.
What should I be paying for this fee?
Can you tell us which manufacturer labeled vscs (Honda care, ford, gm) are mechanically similar to warranty and which are significantly lacking?
For example, Hyannis Honda sells Honda care that people online say is a great price. Tell me which of these vscs is not a good product.
Kimberly I purchased a veichle service contact in 2020 from a Toyota dealer.The administrator is CNA . Is this a reputable company in your experience?
@Kimberly Kline thank you
I think people get confused between the Manufacturers bumper to bumper warranty and extended warranty. An extended warranty is not a continuation of the manufacturers bumper to bumper warranty and just because the extended warranty is purchased at the dealership, the warranty is not back by the dealership or manufacture.
There is no such thing as an extended warranty. Only the manufacturer issues a warranty with the initial sale of the vehicle, they are not bumper to bumper as there are always exclusions. What you buy in addition to the warranty is an extended service contract (AKA vehicle service contract).
Franchised dealers do sell extended service contracts from the manufacturer, which are the only ones to buy.
@@scottr2706 This is why people get upset with “extended warranty”. It is not clear cut what they are getting so when something happens to the car and the “extended warranty” doesn’t cover it, the question is “why not”. I am confident that people who buy the “extended warranty” truly believe they are getting the same coverage as the manufacturers warranty and that it is back by the dealership or manufacture. May be a good survey question.
I'll be honest... When you buy from an OWNER on Craigslist with CASH, you don't have to deal with a corporation who can hide. You deal with an individual. I feel I have more power to negotiate and to remediate if I have an individual to work with/deal/manage/negotiate/etc.
Ty guys Amen 🙏🏿 you guys are awesome.., these car 🚗 sell men and dealerships OOOOMMMG! They are all thieves liars no good .., the Government needs to step in on them … but at this time we have no Government… what can l say!!! Hats 🎩 off to you men and female Ty💯
i generally like following this channel because of my exposure to the auto industry through work, but i keep my eyes wide open following anything like this. Warranties are a huge profit center and nobody would be selling them if they weren't.
Lose a little respect for this channel whenever you guys are trying to influence in this manner. and yes i heard that intro of "caredge is not trying to sell you a warranty". trust me anyone who visits your site is bombarded by warranty stuff.
these are like timeshares to me. sure i've met a handful of people that had a success story. i've met a whole bunch of others who a) never used it enough to justify the value and would have been better off just booking on their own i.e. paying for your own repair out of pocket b) used it but it was a nightmare process, c) got flat out turned down trying to use it.
As we said in the video. 👍
I don't understand I go to the car edge website all the time, I have never seen any ads for the warranty. where did you get your information? do you just hate people who offer products you don't like or just to troll people? I don't get it, should people only buy what you tell them to? anyone who thinks different is stupid? you sound lazy, oh look...