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(ARA) - When the dealer you bought your new car from offered a vehicle warranty, did you turn him down? If so why? Probably because you thought the coverage was too expensive and your new car shouldn't have any problems for quite some time.
(ARA) - When the dealer you bought your new car from offered a vehicle warranty, did you turn him down? If so why? Probably because you thought the coverage was too expensive and your new car shouldn't have any problems for quite some time.
WOW what a sales pitch. (note right at the top it's a sponsored article lol). Let's get one thing out of the way right now - aftermarket warranty/service contract companies are not in the business of charity. They are in the business of making money. If everyone got their full meal ticket's worth, these companies would be OOB in no time flat.
As a former finance manager at a dealership I had to sell these, along with all the rest of the worthless money-making crap we "offered". Any car worth buying these days has minimum 3/36 B2B and 4/50 powertrain warranty already, and new car buyers usually turn their cars over in that timeframe or shortly after anyhow.
As a former service writer I had to deal with these from time to time. Probably the worst hassles I've ever gone through is working with these companies - just getting ahold of them, then determining exactly what is covered (which usually isn't exactly what the customer is expecting)...
You get it. don't be fooled everyone, this is an ADVERTIZEMENT by Continental Warranty. I'm actually kind of insulted it was posted here as a "news article".
You get it. don't be fooled everyone, this is an ADVERTIZEMENT by Continental Warranty. I'm actually kind of insulted it was posted here as a "news article".
I'm with you vanilla. These are money making outfits, period. New vehicles don't need them, and maybe a used vehicle with over 100k might see some benefit over the course of the warranty period, but no guarantees.
I'm not sure what makes this "news". Avoid this at all cost.
Cars: Extended Car Warranties Are A Ripoff (http://consumerist.com/363298/extended-car-warranties-are-a-ripoff - broken link)
According to Consumer Reports, the average extended warranty customer gets back $700 for every $1000 they put in. They say you are better off putting the money you'd spend on a warranty into a money market or mutual fund and pulling it out if you need it.
aftermarket warranty/service contract companies are not in the business of charity. They are in the business of making money.
Isnt this why 99% of all busniess are there? I dont get it when people say this. Why would someone open a business to intentionally go poor?
From personal experience you are lucky to break even in the "extended warranty" business.
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