I have just aged out of my factory warranty. I got bamboozled by a solicitor selling extended warranty and have to decide whether or not to keep this expensive contract. How likely is my car to need repairs? What kind of coverage makes sense? Bumper to bumper (comprehensive) or something that covers and costs more? 68,800 miles on it & no issues after 5 years of driving!
Not worth the paper they are written on. Get out of it if you can.
The ONLY extended warranties that might be worthwhile are those that are issued by the vehicle manufacturer. All of the others have so many weasel clauses that actually being able to collect on a claim is somewhere between extremely unlikely and impossible.
If that paper was softer, you could wipe your butt with it, but that would be the only possible benefit of an aftermarket extended warranty.
Biggest scam on Earth. These “extended warranties” are not worth the paper they’re printed on. Cut your losses now, if possible.
… and, for some reason, most of them seem to emanate from Missouri.
If the warranty company is located in Missouri, RUN!
Let this be a lesson to anyone reading this thread who was gifted a car with a factory warranty from their parents. If you are generally uninterested and uneducated on car maintenance, terms, and conditions - get educated. You are vulnerable and likely to be taken advantage of. Even if you are otherwise highly educated. Do NOT sign any contract if they offer you to it on the phone. Do not believe them when they say they work for Hyundai. Do NOT give out any personal information - even in conversation (this I knew). They are low life hackers who want access to your information and funds.
I canceled my “warranty” by reporting fraud to my bank and emailing them asking to cancel - just so they had written notice. The fraud department heard the name of the company and immediately knew it was bogus. I also spoke with the identity theft group who gave me advice for protecting my accounts from hackers, since this scumbag company has my email address. Trust the Google customer reviews and check the better business bureau before agreeing to a contract over the phone!
Trust the Google customer reviews and check the better business bureau before agreeing to a contract over the phone!
Best to do as I do never do a contract of any kind over the phone.
I would venture to say that will not even help . Google reviews have been done by people who might actually be getting paid so read those with caution.
THIS bears repeating. NEVER agree to buy anything, or provide a credit card or other payment information for anything over the phone, unless you initiated the phone call. If someone calls you to sell you something, hang up immediately!
Better yet just screen your calls with an answering machine or let it go to voice mail if you don’t recognize the number.
THIS bears repeating. NEVER agree to buy anything, . If someone calls you to sell you something, hang up immediately!
No one can call me to sell me anything as I don’t answer my phone unless it is a number I have programed in the phone all other’s can or not leave a message and if I think it is legit. I may or not call back.
Yes! And I called them because they sent me 8 mailers and had my information. The mailers alll look very similar and they made it seem like they sen all oft hem and that they work for Hyundai. Straight u lies. They have an F rating at BBB & the google reviews that seem to be from real people show red flags. It really caught me off guard. lesson learned .
At least you learned. You will know better next time.
A bad insurance company, does this qualify as fraud?
Car Talk has an article on this subject here https://www.cartalk.com/extended-warranties.
If you have a particularly unreliable make/model or if you just want peace of mind knowing that you have a warranty a few more reputable companies listed in that article.
With that said, know that these companies are there to make a profit, so on average getting an extended warranty is going to work out better for them than you.
And I would certainly stay away from anyone that is just cold calling you with a hard sell.
If you were going to get an extended warranty it should have only been from the vehicle manufacturer or maybe the dealership. Anything else is likely to be a scam.
I get about three robo-calls a week trying to sell me a warranty. For some reason when I tell them my car is a 1949 Oldsmobile Rocket 88, they hang up!
There are two scams I avoid – Paying for a warranty for someone’s product and buying bottled water.
Several months ago I was going to be gone for a week to TX. I bought an automatic fish feeder for the aquarium for about 13 bucks.
There were the usual instructions inside the box and on the back page it referred to problems and what to do about it.(Paraphrased)
“In the event this item suffers a failure do not return it to the retailer. Send it to yada, yada, yada along with payment of 56 dollars for repairs”.
So 56 bucks to repair a 13 dollar item. That got me to wondering how many people would actually do this.
Even backed by the manufacturer a extended warranty is never worth it. I’ve never bought one and never will. It is nothing but a very very expensive insurance policy.