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Post Info TOPIC: Caught by the fine print of warranty insurance today.


Canadian Poncho Superstar!

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Caught by the fine print of warranty insurance today.


I bought a new pickup in 2014 and for the first time I bought an extended warranty thinking with more electrical gizmos a person may need it. Took it out for 7 years or 80k klics. On the other hand with previous new GM vehicles Ive had very few problems. Thats when this insurance was offered for $375 that if I didnt use this warranty in that period I would get my $2100 back. Sounds simple enough. Passed the 80 thousand mark this week so I thought Im going to cash in as I was there with a recall appointment. Phoned the insurance company today and was quite taken back when told I dont qualify. Somehow, somewhere it is the term that matters which comes up this next April. At that time I was supposed to be under 80k. My extended warranty is obviously clear at 7 years or said mileage. They said it was my mistake not to buy enough coverage to have said amount of miles over the 7 years. Of course the gentleman that sold me the plan is long gone as they are through there like a revolving door. Dealership changed hands a couple years ago from a family run to a conglomerate that has a million dealerships. There is going to be a discussion though. If that would have been explained I could have even made it happen. Very least I want is a $375 credit for oil changes for the useless unexplained policy they sold me. The are happy to sell you anything after, insurance for your tires, your rims, your paint, body odour, you name it. If you sell it you better be able to at least explain it. There I feel better already. So I have to find another paper route again. Hard earning money when youre retired. 



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Jerel


Addicted!

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Jerel.
You are not alone my man

Maple Ridge chrysler burned me for extended as well.
Who knew extended warranty starts on the first day the car was 1st sold. Bastards sold me a policy that was set to expire 1 year after buying the car.
The main warranty expired too.
I feel your pain

Ken

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Kp

 

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A Poncho Legend!

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One of my first summer jobs after I entered Business school was working for Phillips Electronics Medical Systems Division analyzing and cost out the Maintenance Agreements with Hospitals and clinics across Canada. It was an low pressure job, because my father was the Division Controller, but it was worthwhile for him to know. The amount of money they made from these contracts was staggering because of all the terms and conditions and quality of the equipment. Yes a few lost money but overwhelming they are a cash cow. What I learned from that summer job has stuck with me all these years and whenever I consider an extended warranty now I just say to the seller, go get a coffee and take a break, I'm reading this entire contract and I will have questions. They really have no idea how to react when I strike clauses and place those little signature bubbles beside the changes. Inevitably they are not authorized to change anything and lose the sale. Mostly its better to self insure.



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Ray White, Toronto ON

Formerly - The one and only 1973 LeMans 454 "Astro-Jet"

Built March 9, 1973 - Oshawa ON

1993 Corvette Convertible LT 1

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Poncho Master!

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As the manager of the Green + Ross Store we sold road hazard insurance. The Tire companys dropped road hazard and we picked it up. 5.00 per tire and a claim rate under 15 %. Did cause a few warranty arguments but most were genuine road hazard. Became a skilled investigator

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Cliff

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A Poncho Legend!

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Factory extended warranties are good (eg: GMPP from GM, Gold Plan from Chrysler etc). When I bought my Regal GS used at the Chrysler dealer I worked at I bought a really good Chrysler used car Gold plan. So glad I did as I had over 5 grand in claims in the first year! Transmission, steering rack, alternator etc.


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Poncho Master!

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A friend bought a used F150 and bought the extended warranty. It was from a Ford Dealer and it was the best warranty offered on a used vehicle. It was for 3 years 36000 km. Well the truck was a dud and in the warranty period the warranty paid for 16000 in claims. It was the best 2600 he ever spent. Under warranty the rear axle was repaired twice, the transmission failed the first week he owned it, it got new exhaust manifolds, and about two months before the warranty ran out the engine was replaced. A cam phaser failed and filled the engine with metal particles and ruined the crank.

Paul

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