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after market truck Warranty,s

Discussion in 'Off Topic Threads' started by copper, Mar 23, 2010.

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  1. copper

    copper Member

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    ok I just bought a 2005 Toyota Tundra and the used car dealer sold me and after market warranty the Co is Great Lakes Warranty CO suposedly backed by Travelers Insurance any one had any dealings with them, I resurched on line as best I could any Info would be appreciated. thanks Dave
     
  2. short shucker

    short shucker TS Member

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    Dave,

    What I know of warrenty's, is if it isn't from the manufacturer of the vehicle it isn't worth the paper it is printed on. Those salesmen make a lot of $$$$ selling those worthless warrenty's. I just hope you don't need it.

    ss
     
  3. KEYBEAR

    KEYBEAR Active Member

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    A total waste of money just hope you did,t pay much .
     
  4. emm2

    emm2 Member

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    I am a mechanic and work with aftermarket warranties and short shucker is spot on. They just take your money.
     
  5. TOOLMAKER 251

    TOOLMAKER 251 Active Member

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    Short Shucker is 100% right, I am on the Ford Truck Enthusiasts site and see many owners who purchased these worthless aftermarket warranties. The only safe way to get an extended warranty is to purchase one from the manufacture who made your vehicle. Usually you can do this before your original runs out. Many of these scam companies popped up since our depression started.
     
  6. smsnyder

    smsnyder Well-Known Member

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    Stay away from this company. Go to rip off report.com. I don't think there insured just bonded .
     
  7. smsnyder

    smsnyder Well-Known Member

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    What state you from?
     
  8. TOOLMAKER 251

    TOOLMAKER 251 Active Member

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    Dave, go back to the dealer and see if you can cancel and get a refund. Take care of your truck and change all fluids now so their on your known maintaince schedule and you will not need any warranty.
     
  9. grunt

    grunt TS Supporters TS Supporters

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    Go back and cancel it.
     
  10. smsnyder

    smsnyder Well-Known Member

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    The only extended warranties companies that are good is companies that are insured and bonded. I don't mean self insured either. Factory extended warranties from manufactures are usually sound.
     
  11. School Teacher

    School Teacher Well-Known Member

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    I would not buy an extended warranty unless it was from the manufacturer.

    We have a 2002 Tundra V8 2 wheel drive with automatic and the limited slip differential. The vehicle now has 104,000 miles on it with only normal maintenance. It drives like it was new and gets a solid 15 mpg all around and about 18-19 mpg on long trips. The limited slip differential really helps in the snow.

    I purchased a 100,000 mile power train extended warranty from Toyota when the vehicle was new for $1000. I had the warranty protection for six years but did not need it.

    That said, we just purchased a 2010 Toyota Toyota RAV/4 with V6, 4WD and the sport package for the wife. As the wife only drives about 5000 miles per year, we did not buy an extended warranty.

    Our daughter has a 2007 Toyota Camry that has about 40,000 miles on it with no problems except a recall for floor mats. We did not buy the extended warranty with the vehicle. She did buy both the paint protection package and the seat fabric protection package. Her vehicle looks like new, inside and out, but we passed on the paint and interior protection packages on the wife's RAV/4 as it is garage kept and the wife really takes care of her vehicle.

    We have been very well pleased with both Toyota vehicles and Toyota service.

    Ed Ward
     
  12. wm rike

    wm rike Member

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    I think of insurance as protection against unsustainable loss (e.g., destroyed home). There's not much that can be done to a car that you can't pay for out of pocket. Why involve the cost of a middle man and all the hassle?
     
  13. Bruce Specht

    Bruce Specht Well-Known Member

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    cooper the best thing you could do is contact the dealer and tell them you don't want the policy. Get your money back I'm sure you have a cooling off period, for lack of a better term.
     
  14. Catpower

    Catpower Molon Labe TS Supporters

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    By law any consumer transaction with financing involved can be terminated within 72 hours
     
  15. short shucker

    short shucker TS Member

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    Dave,

    Consider yourself fortunate that you were able to cancel it. As you say, live and learn (this time was fairly cheap).

    ss
     
  16. AveragEd

    AveragEd Well-Known Member

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    Great Lakes - I always held the car until I received payment. Stiff me once, shame on you. Stiff me twice (and "Great Flakes" did), shame on me.

    Warranties can be a good thing for you, given the cost of some repairs today. You have to watch for keywords like "protects against," which is not the same as "prevents." I took a bad trip down that road back when paint sealant companies were out there. I almost never buy extended waranties but recently did when we bought an HDTV. Three extra years of full in-home coverage for $199 could be worth more than a thousand to me in a repair and I feel it was worth the risk.

    You have to understand that all insurance policies are is a gamble. And that's what an extended warranty is - insurance. They don't repair your car for you, they pay for the repair for you. They are betting your car, home or TV set won't require a paid claim and you are betting that it will. As with all gambling, the house usually wins because if you maintain the car properly, it probably won't fail. And if you don't maintain it and it does fail, they will deny the claim, so they still win.

    The only extended warranties worth buying are those offered by the manufacturer of the product. They want you to buy their product again, so you usually will receive the benefit of the doubt in the event of a claim that could go either way. An independent warranty company couldn't care less if you ever buy that brand of product again.

    Ed
     
  17. OldRemFan

    OldRemFan Member

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    I bought a new Toyota Avalon in 2008. The dealer I bought it from wanted $2,050 for a 7 year 100,000 mile Toyota warranty. Since the car was in transit I declined and got on the internet the next day. I found a Toyoto dealer 90 miles away advertising the same identical Toyota warranty for less than $700. One phone call, a visa card number, along with the Vin number and the Toyota warranty arrived from Toyota Corp. a few days after the new car did. Pays to check around even from bonafide dealers.
     
  18. Tron

    Tron Supporting Vendor Supporting Vendor

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    Our dealer got to the point where we wouldn't deal with after market warranties in any way, shape or form. They are a scam. We would have to call in for authorization and then wait days before it would be approved and only after listening to them moan and groan about the dealerships prices. Once they approved the repair, getting the money from them was a whole different matter. They would renegotiate/renig on deals on a regular basis.

    A total waste of your money!
     
  19. smsnyder

    smsnyder Well-Known Member

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    The dealer is not allowed to keep any of the money. Must refund you the money. Some small dealers will scam you. They sometimes keep warranty money and never send money in to warranty company. Take it to local judge. What is dealers name. I can sometimes find out if they have a history.
     
  20. Barry C. Roach

    Barry C. Roach Well-Known Member

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    Sucker bet. I used to sell them. Back in the Carter era we made more on product insurance policies than we could on the cars and trucks. Back then it was the only thing that I could make a living. Same thing with liability and credit life insurance on the loan contract.
     
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