Does anyone have any recommendations on purchasing and extended warranty in general and or with this company? I just purchased a 2002 X5 4.4 with 50,310 miles and 1 Source has quoted me $2,850 for the policy. Thanks for your help
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Quote: | Does anyone have any recommendations on purchasing and extended warranty in general and or with this company? I just purchased a 2002 X5 4.4 with 50,310 miles and 1 Source has quoted me $2,850 for the policy. Thanks for your help | For that price, consider self-insuring...
I've had warranty through heritgage and have not had a problem with claim but it also depends how much you're asking them to pay. Whichever company you go with maybe you should check out their ratings to protect yourself if it goes out of business ala warrany gold.
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Quote: | Does anyone have any recommendations on purchasing and extended warranty in general and or with this company? I just purchased a 2002 X5 4.4 with 50,310 miles and 1 Source has quoted me $2,850 for the policy. Thanks for your help | From what I've heard, 1 Source is not the cheapest, but it's supposed to be one of the better warranty companies in the business and very strong financially. Others may be less expensive, but they may not be around next year or even next month. Here's a link that gives some info on them. http://www.carbuyingtips.com/warranty.htm
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| Reply » 1 source Auto Warranty Diamond Plan any opinions? |
Bottom line, the only extended warranty I will purchase is one offered from the manufacturer, All others will lead to greater or lesser headaches.
Remember, if you got more out of them than they cost, they wouldn't be in business of selling them. And it is in their best interest to NOT cover anything they can avoid covering.
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Pinecone is a 100% right.
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| Reply » 1 source Auto Warranty Diamond Plan any opinions? |
Well, I've bought them before and never had a problem getting anything covered - no questions asked and without them even sending anyone out to inspect the car. However, I've never had enough repairs to have the policy pay for itself. I would agree that these companies are like any other business - they are in it to make a profit. When they issue a policy, they are betting your total claims will be less than the amount of the policy and they charge accordingly. It's quite possible that if my claims had ever amounted to more than the amount I paid for the policy, they would have been tougher on what they covered. That's pretty much how it goes with auto insurance. Small claim? No problem. Big accident and they often start jerking you around.
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1 source Auto Warranty Diamond Plan any opinions?