3rd Party Extended Warranties... Worth it?

[Knightwulf]

I wasn't entirely certain where to put this, so I'll just drop it here... If it needs to be moved, feel free to do so.

I'm currently in the process of closing on my '97. During this, I was offered a 24 month/24,000 mile warranty through Old Republic Insured Automotive Services, Inc. (Link).

For about a grand for the Silver Plus, they claim to cover the following with a $100.00 deductible ($50.00 if I pay another $100.00 at the outset):

The Silver Plus Protection Plan

The Silver Plus Plan is our most comprehensive named component program. Coverage is extended to your vehicle's drivetrain components and the extensive list of parts named below of your vehicle's mechanical and electrical systems.



ENGINE:
All internal parts; manifolds; timing gears, chain or belt; flex plate; oil pump; water pump; fuel delivery pump; throttle body; throttle cable/linkage; fuel lines and fuel regulators; camshaft and crankshaft position sensors; knock sensors; manifold pressure sensors; EGR valve; temperature sensors; thermostat; electric cooling fan motors; fan clutch and pulleys; belt tensioner; coolant recovery tank; radiator and mounts; engine mounts; harmonic balancer; turbocharger/supercharger housings and internal parts; wastegate; bypass valve; actuators and sensors. The engine block and heads, valve covers, timing cover, and oil pan are covered only if damaged by the failure of an internal part.

TRANSMISSION:
((Automatic or Manual) All internal parts; torque converter; transmission pan; transmission mounts; vacuum modulator; shift linkage; electronic shift control module; sensors and switches; auxiliary cooler. The transmission case is covered only if damaged by the failure of an internal part.

TRANSFER CASE:
All internal parts; transfer case mounts; shift linkage; electronic shift control module; sensors and switches; all wheel drive engagement module and actuator. The transfer case is covered only if damaged by the failure of an internal part.

DRIVE AXLE:
(Front / Rear Wheel Drive) All internal parts; axle shafts; constant velocity joints (except any damage to the constant velocity joint due to the failure of the sealing boot is not covered); universal joints; propeller shafts; center support bearings; axle bearings; hubs and hub bearings; locking rings. The drive axle case is covered only if damaged by the failure of an internal part.

STEERING:
Gear housing, rack and pinion, internal steering rack seals, and all internal components; power steering pump and pump seal; power steering lines/hoses; tilt wheel mechanism; steering linkage; tie rod ends; pitman arms, center link; steering dampener; steering column shafts, joints and couplings.

SUSPENSION:
(Front and Rear) Upper and lower control arms; control arm shafts and bushings; control arm linkage; ball joints; torsion bars and bushings; steering knuckles / spindles; stabilizer shaft linkage and bushings; wheel bearings; springs; MacPherson strut upper mount/bearing plate (strut shock absorber function is not covered).

AIR CONDITIONING:
Compressor; clutch and pulley; condenser; evaporator; receiver-drier; refrigerant valves; accumulator; idler pulley and bearings; orifice tube; temperature control panel and module; heater control valve and heater core.

BRAKES:
Master cylinder and seals; wheel cylinders and seals; disc brake calipers; power brake booster; hydraulic brake lines, fittings and valves; parking brake linkage and cables; anti-lock brake system: electronic control unit, wheel / speed sensor(s), valve(s), hydraulic unit, accumulator, modulator, and actuator(s); linkage and hardware (backing plates, caliper mounting pins, etc.).

ELECTRICAL:
Alternator; starter motor; starter solenoid; starter drive; alternator voltage regulator; power window motor; power seat motor; wiper motors; distributor; manually operated switches; coil; horn relay; electronic ignition module; rear window defroster (except for physical damage); rear window heating relay; power door lock and actuator; convertible top motor; power antenna motor and mast drive cable; electronic fuel injection sensors, control unit and injectors; electronic transmission control module; gauges; stereo or audio equipment; cruise control components; sunroof motor; mirror motors; wiper washer pump and motor; combination entry system transmitters and receivers.

CHASSIS HARDWARE:
Hood/door/hatch/trunk latches, cables hinges supports and springs; glove box/console lock and latch; ignition lock and tumbler; window regulators; seat belts; trunk and fuel door release cables or controls; T-Top latches; manual sunroof latch; mechanical seat tracks and springs.

LIMITED SEAL AND GASKET COVERAGE:
Seal and gasket coverage is provided with the Silver Plus Plan for all parts listed in the above named component groups.


Is this/are these 'extended warranty' company(ies) legit? Is it worth it? Are they difficult to deal with? If legit, are there any better (price/coverage) than Old Republic?

Any information/advice is welcome. Thanks in advance!

[Suby Fan]

i have found being a mechanic at tires plus that they are VERY dificult to deal with... ususally not worth it in the long run... i mean if they weren't making money they wouldnt be in business right?
it also sounds like according to this list that the most common things to go bad are not covered at all

[Knightwulf]

Originally Posted by Suby Fan

i have found being a mechanic at tires plus that they are VERY dificult to deal with... ususally not worth it in the long run... i mean if they weren't making money they wouldnt be in business right?
it also sounds like according to this list that the most common things to go bad are not covered at all

'They' in general or 'they' being Old Republic?

[Suby Fan]

Originally Posted by Knightwulf

'They' in general or 'they' being Old Republic?

sorry when i say they about being difficult to deal with i mean in general and when i say the contract i mean old republic doesnt seem to cover common things that fail (big one i notced was CV axle boots) a common problem on SVX's

[Knightwulf]

Originally Posted by Suby Fan

sorry when i say they about being difficult to deal with i mean in general and when i say the contract i mean old republic doesnt seem to cover common things that fail (big one i notced was CV axle boots) a common problem on SVX's

Thanks for the advice! Still pondering purchasing the warranty, but now I'm thinking; "That extra $1300.00 I tacked onto the loan could get my SmallCar Shiftkit, some new rotors, stainless steel brake lines, tranny cooler, new tires and SmallCar clear headlights..."

Hmmm...

[subi-crosser]

Originally Posted by Knightwulf

Thanks for the advice! Still pondering purchasing the warranty, but now I'm thinking; "That extra $1300.00 I tacked onto the loan could get my SmallCar Shiftkit, some new rotors, stainless steel brake lines, tranny cooler, new tires and SmallCar clear headlights..."

Hmmm...

These were meant for a selling point for used cars..If you are buying a car with a "good rating' from consumer reports, you won't need it. BUT if you are buying a Dodge, Ford, Kia, and the like, It might pay off because the transmissions on the Ford and Dodge cost MORE than the 3rd party, and the engines in the Kia DIE about 100k

It all depends on what you are buying!!!Do your HOMEWORK!!

I deal a lot with dealers and finance companies, and got it from the 'horses mouth'...

Jerry

[Knightwulf]

Originally Posted by subi-crosser

These were meant for a selling point for used cars..If you are buying a car with a "good rating' from consumer reports, you won't need it. BUT if you are buying a Dodge, Ford, Kia, and the like, It might pay off because the transmissions on the Ford and Dodge cost MORE than the 3rd party, and the engines in the Kia DIE about 100k

It all depends on what you are buying!!!Do your HOMEWORK!!

I deal a lot with dealers and finance companies, and got it from the 'horses mouth'...

Jerry

Well, this is on a '97 SVX with a CarFax that reads like a textbook... Oil every 3k from 0 miles to it's current 96,000. Tune ups every 15-20k... Perfect interior, etc...

[subi-crosser]

Originally Posted by Knightwulf

Well, this is on a '97 SVX with a CarFax that reads like a textbook... Oil every 3k from 0 miles to it's current 96,000. Tune ups every 15-20k... Perfect interior, etc...

If it has the original trans, the 3rd party could finance a 4:44 swap!! As long as a shop does the repairs that are 'covered' and the mechanic is willing to deal on the other upgrades, No prob!!!
Tell them that the best subi-guy you know of lives in W Va, and you can cover transportation costs, they will cover the cost of getting it done at a local shop.and you cover the 'Extras'.

Jerry

[AutoTchr]

No, No, No. As a technician I have been on the phone with these companies before. They are no more than a scam.

Case in point. 96 Tauras with a bad intake valve. Proper proceedure would be replace cylinder head with one that has been rebuilt. Insurance company wanted to replace just the valve. Nothing else.

A different company wanted to only replace the component that failed in an auto trans, rather than follow proper proceedure which would be to rebuild it.

They are not interested in fixing your car right.

Sometimes it takes up to 6 months to get your "account" activated. Another part of the scam. We had customers come in and give us the information and the car sat in our lot for 4 weeks while waiting for the insurance company to activate the "account"

[Knightwulf]

Originally Posted by AutoTchr

No, No, No. As a technician I have been on the phone with these companies before. They are no more than a scam.

Case in point. 96 Tauras with a bad intake valve. Proper proceedure would be replace cylinder head with one that has been rebuilt. Insurance company wanted to replace just the valve. Nothing else.

A different company wanted to only replace the component that failed in an auto trans, rather than follow proper proceedure which would be to rebuild it.

They are not interested in fixing your car right.

Sometimes it takes up to 6 months to get your "account" activated. Another part of the scam. We had customers come in and give us the information and the car sat in our lot for 4 weeks while waiting for the insurance company to activate the "account"

I was afraid of this... This is what I had assumed, but the temptation for 2 years of worry-free driving had it's allure.

[AutoTchr]

Believe me, these companies will only add to your worries.

[dcarrb]

You'd do better to put that $1000 per year into a savings account for the eventual work your SVX will need.

dcb

[svxfiles]

We have "brand name warranties" available to people who buy cars off of us, if they want them.
A two year/24000 standard warranty with about the same coverage as the one you posted costs $585.00 for a car with up to 80,000 miles, and $685.00 for a car with 80,001 - 100,00 miles.
We sell them at our cost because if the person wants a warranty they will buy one, and if something goes bad, it is between them and the warranty co.
Most of the warranty co.s only pay what they want to pay, whether it covers all of the bill or not.
And since it is a used car they will use used parts where available, regardless of the replacement parts condition!
Put the unspent money into tranny coolers and oil changes.

[Drjohn]

These documents are not "warrenties". By law a warrenty must be cost free and is supplied by the manufacturer. Most call that a guarantee. Sorry for the long post but I am retired from a major auto manufacturer and was involved with "extended Service contracts", just what you are talking about. One rule, If it is sold and serviced by the manufacturer it is generally OK and they will fulfill the agreement. (like use new parts instead of used) Note that they are only sold by the franchised dealer. If it is NOT a manufacturer product stay away! Many of these independent companies have gone bankrupt in the last few years. Also beware of the wording about consequential damage. That means, for instance, if an engine or transmssion fails and needs to be rebuilt, they will most often pay for the one and only part that broke, even it that part caused the entire unit to fail. You can tell by reading the contract in it's entirety (or look in the exclusions) and look for the work consquential damage. If those words are anywhere, the single part item I described will rule the claim.........The next item to look for is "wear and tear". The only contracts that cover wear are once again the Mfg. contracts. All the independants will exclude those claims. You know what that means.
Drjohn