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mikefocke · 02-29-2008, 05:43 PM

The salesperson will love you.

Consumer Reports in their Auto Issue that just came today devotes about 4 pages to Extended Warranties. ..and mostly they talk about why you shouldn't buy them.

Which is not to say that if you can locate a reputable company that has a solid financial basis for staying in business, and you read the contract carefully, and you check with your mechanic to make sure he will deal with the warranty company and that they will deal fairly (both with him and with their insured) and you read the contract..and you read the contract..

But you get the idea...what reputable company will insure a 11 year old car...and why pay 80% in commissions and administrative costs when all you project to get out of the deal is 20% on average...and that is best case and they are still in business when you need them.

02-29-2008, 05:43 PM	#6
mikefocke Registered User Join Date: Aug 2005 Location: Sanford NC Posts: 2,537	A wonderful idea The salesperson will love you. Consumer Reports in their Auto Issue that just came today devotes about 4 pages to Extended Warranties. ..and mostly they talk about why you shouldn't buy them. Which is not to say that if you can locate a reputable company that has a solid financial basis for staying in business, and you read the contract carefully, and you check with your mechanic to make sure he will deal with the warranty company and that they will deal fairly (both with him and with their insured) and you read the contract..and you read the contract.. But you get the idea...what reputable company will insure a 11 year old car...and why pay 80% in commissions and administrative costs when all you project to get out of the deal is 20% on average...and that is best case and they are still in business when you need them.