extended warranties for used cars: any recommendations?
Discussion
My recommendation is; get a quote from all the big warranty providers for the car in question, momentum, warranties direct, ala, etc etc. Once you have your quotes take an average. Divide it into monthly payment, then put that amount into a savings account every month as a 'rainy day fund' for your car.
I can almost guarantee in the long run you will come out ahead using that method than handing your money to these companies.
I can almost guarantee in the long run you will come out ahead using that method than handing your money to these companies.
CHECK what is excluded. e.g. heater radiator fails and leaks / cooling system fault- of course the heater rad/ water pump/rad etc is covered, but is the cost of anti freeze?
Again, what is covered ? If head gasket fails and it's a water leak, you might be covered, but if it's a gasket fail to let out out, ARE YOU?
On both counts, I had a policy many years ago where the heater rad failed, but only the heater rad and labour were covered. Water pump failed -that was covered, but not anti freeze. Head gasket leaked oil. It would be covered if it was water. Fault was caused by water pump failure.
Again, what is covered ? If head gasket fails and it's a water leak, you might be covered, but if it's a gasket fail to let out out, ARE YOU?
On both counts, I had a policy many years ago where the heater rad failed, but only the heater rad and labour were covered. Water pump failed -that was covered, but not anti freeze. Head gasket leaked oil. It would be covered if it was water. Fault was caused by water pump failure.
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