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07-28-2006, 06:51 AM | #19 | |
Drives: 07 Yaris Hatch 3dr BB Join Date: Jul 2006
Location: Gatineau, Qc, Canada
Posts: 42
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07-28-2006, 12:55 PM | #20 |
I've sold a lot of extended warranties in my time, but I have purchased very few.
Statistically, you are better off to put the money in even a savings account than purchasing the extended warranty on a car. Most major repairs (engine, transmission, suspension replacement, etc.) either happen within the warranty period (rare these days) or far after any warranty has expired. I did buy the bridge coverage with my financing - my credit union will pay full value for the car if it's totalled for the life of the loan (actually more likely, statistically, than major repairs during this time period). The extended warranty is pure profit for the dealer, and the salesperson/finance manager at the dealership get a nice spiff ($$$) when they close you on the warranty. FWIW |
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07-28-2006, 05:11 PM | #21 |
Drives: 2007 Liftback Join Date: Jul 2006
Location: USA
Posts: 334
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I asked my dealer and he said that as long as the car is under the factory bumper to bumper you still have the option to buy the extended warranty. Is this common?
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2007 Liftback Blazing Blue Cold Weather, Convenience Package, Arm Rest, Floor mats, Weathertech vent visors |
07-28-2006, 05:53 PM | #22 | |
Drives: 06 3-dr auto RS Join Date: Jan 2006
Location: BC
Posts: 1,051
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Quote:
The terms of the extended warranty are, I assume, engineered to give the seller some profit. Therefore, only those who find the "insurance" that it provides really useful, considering their individual circumstances, and those who really need that extra peace of mind will find it attractive. For instance, in Bidoup's case above, I can understand why he has decided to have it. Last edited by swng; 07-28-2006 at 06:08 PM. |
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07-28-2006, 06:13 PM | #23 |
Super Moderator
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I was told that if there is NO claim made within my 6yr. 100,000 mile extended, that I will get the FULL amount back, that the extended warrenty cost me.
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07-28-2006, 11:06 PM | #24 |
Drives: 06 3-dr auto RS Join Date: Jan 2006
Location: BC
Posts: 1,051
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Thanks for the information. I have not heard about that before. However, if a full refund (subject to there being no claim) is possible, that would be a tempting deal to me.
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07-29-2006, 01:12 AM | #25 |
Drives: 06 Yaris 3dr YRX Join Date: May 2006
Location: Port Elliot, South Australia
Posts: 46
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Got the dealership to add the extended 6 year warranty as an 'incentive' as I had decided to take some upgrades.....if they threw in the warranty.
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Driving......Loving it!!! |
07-29-2006, 07:34 AM | #26 |
Drives: 2007 Liftback Join Date: Jul 2006
Location: USA
Posts: 334
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Yes Chris, They told me that too.
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2007 Liftback Blazing Blue Cold Weather, Convenience Package, Arm Rest, Floor mats, Weathertech vent visors |
07-29-2006, 02:13 PM | #27 | |
Super Moderator
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07-29-2006, 04:05 PM | #28 |
Banned
Drives: 07 Black Yaris LB, 05 Camry LE Join Date: Jul 2006
Location: Lost Wages
Posts: 243
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UK Warranty
Warranty
Three year / 60,000 mile mechanical warranty Three year unlimited mileage paint warranty Six year unlimited mileage anti corrosion perforation warranty Twelve year unlimited mileage anti corrosion perforation warranty |
07-29-2006, 06:12 PM | #29 |
Resident Redneck
Drives: 07 Polar White Yaris Sedan 5M Join Date: Jul 2006
Location: Cumming, GA
Posts: 265
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I didn't buy one, but I had a 7/100K, no deductible Fidelity warranty thrown into the deal. Fidelity is owned by JM&A- read Jim Moran, owner of the SE USA Toyota Distributing Group. Working in service, I know that Fidelity is a great warranty. Coverage is very comparable to factory (imagine that!). I put 30k miles a year on my cars, so the extended warranty is a must. Besides, even with a Toyota, you never know- I make my living (and a very good one) on broken Lexus cars, both in and out of warranty.
I bought gap because, well, honestly if you don't, you are taking a huge gamble- $10 a month could save you thousands out of pocket the day after you buy the car. I would go so far as to say that not buying gap is foolish. Once again, you never know!
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07-29-2006, 06:54 PM | #30 | |
Banned
Drives: 07 Black Yaris LB, 05 Camry LE Join Date: Jul 2006
Location: Lost Wages
Posts: 243
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Quote:
Address: P.O. Box 8567 Deerfield Beach Florida 33443 U.S.A. Phone Number: 800-327-5172 Fax: Hello, fellow victims of Fidelity Warranty, Inc. My story is almost identical to most of yours, except that, as an attorney, I was able to get more information on this company and its practices. I want to let you know that the company is very worried right now. I called them today regarding my warranty (my 2000 car was purchased 6/14/2001 and has 81,211 miles on it) and I believed that I had purchased the 72 month or 100,000 mile warranty for $2,150.00, plus interest because I put it into the financing agreement. I gathered some very interesting information as to how customers are treated. I was informed by two separate claims epresentatives that Fidelity is a servicing agent for the dealership. This is false as a matter of law. The dealership is merely an agent of Fidelity. I explained to the third claims representative that the opposite was true as a matter of law. I was then instructed to submit my "request for resolution," which I did in a letter and I attached 8 pages of Exhibits. When I reached the manager of claims administration, Mark Woodard, he told me that because I am an attorney, the matter would be sent to the legal department and I would receive a respose to my proposed settlement in 10 days. I had proposed a settlement for one half of the warranty work required. (The warranty work needed is approximately $2,000.00 and my deductible is $100.00.) I believe that this company can be made to address its misconduct. I am not prepared to start a class action at this time, but I would urge you to send letters to Fidelity Warranty Services, Inc. Attention: Mark Woodard in the format which I have created. I am pasting a draft letter below: DATE FIDELITY WARRANTY SERVICES, INC. Attn: Administration-Mark VIA FACSIMILE at 954-420-3215 RE: (YOUR) Contract Number XXXXXX (YOUR) VIN # Dear Mark: Please be advised that my (CAR/Make, Model and Year) is required warranty work at (YOUR CAR REPAIR COMPANY) My repair company was informed on DATE that my contract with you is “expired.” Please note that this vehicle was purchased on DATE. I am forwarding the following documents to you: 1. The Warranty contract through DEALERSHIP, sales agent for your company. 2. My Carefree Car Protection contract. 3. Invoices for the warranty work which I required: OPTIONAL LANGUAGE: IF THIS IS TRUE, YOU MAY STATE "I was specifically told that I was receiving protection for 72 months or 100,000 miles from the date of the sale." IF NOT, YOU MAY STATE what you requested from your dealer, what you believed at the time of purchase, etc. . . . Fidelity Warranty, Inc. is responsible for the representations of your agent (YOUR DEALERSHIP). I purchased a contract for 72 months or 100,000 miles from the date of the sale at a cost of (YOUR COST.) I must insist that the contract be honored according to the terms represented to me. I AM ENCLOSING MY REPAIR INVOICE. I expect that I will hear from you within 10 business days of the date of this FAX. Very truly yours, YOUR NAME If you are interesting in joining together to pursue this company for its responsibilities, I will accept your e-mails until August 5, 2006, but will not be able to reply except in a mass e-mailing on or about August 15, 2006, so please note that you are waiving any attorney-client privilege with respect to the use of your name in a mass e-mailing to others interested in pursuing Fidelity Warranty, Inc. PLEASE NOTE THAT I AM ADMITTED TO PRACTICE LAW IN WISCONSIN. Wendy alison St. Paul, Minnesota U.S.A. |
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07-29-2006, 07:00 PM | #31 | |
Resident Redneck
Drives: 07 Polar White Yaris Sedan 5M Join Date: Jul 2006
Location: Cumming, GA
Posts: 265
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Quote:
In the 3 years I have been calling in Fidelity claims on the behalf of my customers, I have yet to have one claim go anything but absolutely smooth. That's why I have one!
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My other rides: 2003 Honda Civic LX Coupe 5M- S/C K24 w/ LSD coming soon! 1999 Honda Civic EX Coupe 5M w/ B18 powaa 1985 Toyota Celica GTS Coupe 5M- track whip http://www.importlounge.com |
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07-29-2006, 07:46 PM | #32 | |
Banned
Drives: 07 Black Yaris LB, 05 Camry LE Join Date: Jul 2006
Location: Lost Wages
Posts: 243
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Quote:
That's good to know, it's also worth noting that there are problems. Even if 95% of the problems are resolved, I'd hate to be in the minority. I've had three Toyota vehicles past 160,000 miles with NO problems. Perhaps 20 years in Las Vegas makes me a bit of a gambler. So far I'm ahead.....Thanks for the perspective. |
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