Should You Invest in a Car Warranty?
(WHTM) — Given how costly car repairs have become nowadays, extended warranty firms offer assurances of tranquility. However, numerous customers wind up disappointed when they encounter conditions that may render them uninsured.
When Glendora Cornist recently purchased a new SUV, things seemed to be looking up for her. However, our initial encounter with her revealed quite a different story. At that time, she was dealing with significant frustration and anger due to the transmission failure of her 2015 Dodge minivan.
The transmission had to be swapped out.
She believed that the extended warranty she recently bought would encompass the cost of the repair.
“It was $124 a month.”
Occasionally, right when you believe it might ward off a costly fix, you discover your plan doesn't cover the issue whatsoever. Initially, she would need to shell out money for a comprehensive transmission examination.
When questioned whether she would have to cover the costs of the demolition, Cornist replied, "He mentioned approximately $1,500 solely for the dismantling process."
Despite this, she discovered that they may not cover the $4,000 repair which was not assured.
They mentioned that wouldn’t work because it would be classified as a pre-existing condition.
The Better Business Bureau advises that prior to purchasing an extended warranty, you should inquire about various aspects including:
- What is excluded?
- Do you have to pay diagnostic fees?
- Is it usable at any store?
Be cautious of dubious warranty firms that mail cards urging you to contact them immediately. Following communication with the warranty provider, Glendora received positive updates shortly after.
“They returned me $248.”
The next time around, she plans to meticulously investigate an extended warranty service before making another purchase. While not every extended warranty is unfavorable, it’s wise to peruse customer feedback online and examine their rating with the Better Business Bureau prior to buying one, to ensure you’re not squandering funds.
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