Date: Sat, 21 Mar 1998 00:31:14 GMT From: Rob Teichman <rteichmanopsamog.net> Subject: Re: Opinions on Aftermarket Extended Warranties
I disagree! I bought an extended warranty when I bought my 1988 Mercedes 190E last year. It was not from Mercedes, but rather a third party insurance agency and it was very worth it! I paid $1,000 for it and it has so far payed out $3,000 in repairs (replaced master brake cylinder, valve cover gasket, ABS sensor, etc.) They never asked for any scheduled maintenance documentation, or argued about anything. The independant mechanic (not an MB dealer) called the 800 number with the problem and estimate before starting work. He got authorization and a claim number right then and there. Each time (3) I got my check before my Visa bill for the work came! Rob Paul wrote: > > Re: Opinions on Aftermarket Extended Warranties > > These extended warranties are a ripoff. They try to get > out of paying for anything. If you don't have every receipt > for scheduled maintanence, they'll probably never pay > for anything. If your warranty costs $1000, that's enough > to pay for alot of repairs. On a used car, you'll probably > be paying 18% interest. That makes your $1000 warranty > cost probably $1500 by the time you pay off the loan. > Not only that, it makes your payoff $1000 higher if you > trade in your car before it's payed off. You'll be what used > car salesmen call 'upsidedown'. That makes your tradein > less attractive to them, so you have less bargaining power. > If you really think you need a warranty, why not just buy > a new car that comes with a 3yr 30,000 warranty for free? > If your car doesn't have any problems in 3 years, it's probably > a good car that will last at least 6 years. If it does have > problems before 3 years, get all of the warranty problems > fixed then sell it before 29,000 miles.
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