Your experience with specific extended warranties on used cars? - Yahoo! Answers
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March 12, 2007
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Your experience with specific extended warranties on used cars?

We are shopping for a used car and have come across a number of third-party extended warranty options. We are inspecting the contracts pretty closely and some are clearly better than others. We've also called different mechanics and received various responses - some have had good experiences, some haven't.

Do you have any specific experience with one or another of these companies? Positive or negative? We are looking for specifics, here.

Also, in particular, does anyone have experience with the "Freedom Protection Plan" (the best one) offered through Eagle Warranty? Or with Eagle Warranty in general? Thanks.
  • 3 years ago

Additional Details

I know these aren't popular but I am also suspect of blanket advice against any product. The specific contract terms for Eagle Warranty can be found at: www.eaglewarranty.com.

3 years ago

Yes. A new car would be great. Unfortunately that is not a possibility for us. (Neither do we consider it a wise investment). Unless you know of a new car with AWD and dual airbags that sells for 10K?

3 years ago

Dogbettor by Dogbetto...
Member since:
May 21, 2007
Total points:
8411 (Level 5)

Best Answer - Chosen by Voters

Here's your Best Answer. If you are buying a brand of car, (whether at a franchised dealership or Joe Smugatelli's used car lot), that offers extended warranties you are soooo much better off to buy one. Example; you're buying a Chevy? Go to ANY General Motors dealership and buy the warranty from them. Ford? Ford. Chysler? Chrysler. Toyota, Nissan, whatever. Do that and you will be assured that your warranty will be honored nationwide. Also a major dealer will honor any manufacturer's extended warranty. So if you're buying a GM car at a Ford dealer then it's ok to buy the Ford warranty for your GM car. They reciprocate. Those here today, gone tomorrow warranty companies are not honored everywhere and some are regional. Most states consider these warranties insurance and the prices are often governed by the Insurance Commissioner of the state. That means that similar warranties will be priced the same regardless of where you buy it and if additional monies are charged the seller can be charged and fined. If you are inteligent enough to buy the extended warranty don't make a mistake and buy incorrectly. Some major dealers may try to sell you a "Brand X" warranty. The reasons are purely montary advantages for them. I think that General Motors sells the best warranty. EWC was a big company out of Texas who went bankrupt and left their policy holders holding their, uh, policy! Many have come and gone but none of the manufacturers who offered extended warranties has left the business. Remember, you don't have to buy the warranty where you buy the car UNLESS you must include it with the auto loan. This answer is fact and no BS is included.

Source(s):

40 years in the business and I sleep good at night!
  • 3 years ago
100% 1 Vote

Other Answers (4)

  • pfloydie by pfloydie
    Member since:
    March 30, 2006
    Total points:
    1777 (Level 3)
    I looked long and hard when I bought my last 2 cars. . .and let me tell you something -- this is good advice - believe me --
    BUY A NEW CAR!!!!!! Get financed through a sound dealership -- by the time you pay for this used car and go through all this warranty trouble - you could be driving off the lot with a brand new car, a secure warranty and a car that in a few years you will be able to trade in for a new car again!!!
    It's not worth buying say a $10000 dollar used car when you can finance yourself for 15 or 16 and go away with the best!!!
    Seriously -- check into the interest rates and everything -- dealerships are always having "special sales" and they can work stuff out for you. . .Go all over -- shop around BIG TIME -- Keep looking until you are positive. . . .don't buy the first one you like and can afford. . . .

    Source(s):

    LOTS of experience buying new cars
    • 3 years ago
    0% 0 Votes
  • Kolyna by Kolyna
    Member since:
    April 20, 2007
    Total points:
    209 (Level 1)
    I have opted to not get the extended warranty on my second used car purchase. The reason: you end up financing some additional thousands of dollars for it and if something does happen to your car, you'll end up paying less money by taking out of pocket when you do need to do the repair. They are very expensive and seldom used.
    You would be better off spending those extra thousands on a newer or new car with a warranty already included.
    Good luck with the searching!!!!
    • 3 years ago
    0% 0 Votes
  • yellowpepper by yellowpe...
    Member since:
    May 09, 2007
    Total points:
    294 (Level 2)
    you said a new car would be better, but I think if you get a good used car it can be good as well, and save you big bucks.
    A thing I can suggest you is not to buy it from your car dealer, they just resell you a contract by a major company, obviously, increasing the price.
    Usually extended warranties purchased from the car dealer cost way more than those stipulated directly with a first-rate company, moreover a car dealer might include additional clauses.
    My suggestion is to request several quotes online, most companies offer free no-obligation quotes. Once you get the quotes select those in the price range that you're willing to pay and carefully read the contract: only after this you should choose a warranty contract.
    You should really take into consideration the additional services offered such as benefits, financing, towing assistance...

    Source(s):

    • 3 years ago
    0% 0 Votes
  • SPATTMAN by SPATTMAN
    Member since:
    May 20, 2007
    Total points:
    1579 (Level 3)
    I have to laugh when people suggest paying thousands of dollars more for a new car, to get a warranty. I believe you are better off buying a used car most times. It is no secret that the greatest depreciation of a new car takes place the first year, Why not take advantage of that. As far as extended warranties. The top 4 or five providers are backed by insurance companies that as big, and probably in better financial shape, the the factories themselves. The ones I like the best are Protective, Zurich, CNA and GE. If your dealer offers one of these, they are probably a decent dealer because these companies don't want complaints from the dealer's customers. The warranties are usually accepted everywhere because they pay the shop by credit card, just like you would. Plus when the repair facility calls in a claim on your behalf, you have a trained professional on the other end asking the mechanic much better questions than you or I would ask. They know how much a repair should cost and will not over pay, like I may do because I am not a mechanic. Two things, stay away from the fly by night companies. And always buy the "exclusionary" policy. This is commonly called the bumper to bumper. What makes it exclusionary is the fact that it only lists the breakdowns that are NOT covered. I've never heard of Eagle and for me, that's enough reason not to buy from them. Stay with the big guys.

    One more thing, with the exception of Florida and New York, most states do not consider these polcies as insurance.
    • 3 years ago
    0% 0 Votes

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