I found this company called Select Auto Protect (correct me if spelled wrong). It has got pretty good rating on Top10 Auto Warranty Companies. It seems they have been around since around 2000.

So, Im thinking whether to get an extended warranty? Has anyone ever had an experience with it and do you think it was worth it?

Any recommendations? Thank you.

 

ive made a comment about this many times.....long story short, not worth it. I had Carchex on my XFR many years ago, and it was more of a headache than it was worth, i cancelled after my first attempt to claim an issue.

 

ezio8133, extended car warrantees are really a hit and miss thing. Some people lose big time because the car worked perfect or the company made it a pain to get any work done. Then my son for example got an aftermarket warrantee and they have replaced the tranny twice, a new motor, etc, etc, etc. I think the vehicle sat in the shop as much as he drove it. They gave him rentals and never questioned the shop doing the work. I am sure that company lost out big time with my son's car. So, you never know what you are going to get until you make your first claim.

With that being said, my philosophy has always been to tuck away a little each month and if you need to do a major repair, you have the money sitting there waiting. In your case, figure out what the policy would run you, divide by 36 and put that into the bank each month so if you have a water pump go, you have atleast a nice down payment on the repair.

 

I’ve been in the car business for over 27 years, as a dealer, manager, etc.

in my experience most aftermarket warranties are garbage. If they’re underwritten by US Warranty Company or Fidelity out of Florida they’re generally ok but they’re not cheap for good coverage.

 

[Note that I copied this from one of my earlier posts because there's no need to re-invent the wheel. This should answer all of your questions.]

UNDERSTAND THE DIFFERENCE BETWEEN A WARRANTY AND AN EXTENDED SERVICE CONTRACT


.
A "warranty" is a promise (a contract) by the manufacturer of a product to repair or replace it at their expense within a specified period of time for specific failures caused by defects in materials or workmanship. Only a manufacturer can issue a warranty. The Jaguar Select Certified Pre-Owned program IS a warranty because it is backed by the manufacturer, Jaguar. It extends the original manufacturer's warranty subject to certain limitations and exclusions. The Jaguar Select CPO Warranty is a real extended warranty.

So-called "Extended Warranties" that are sold by Jaguar dealers and by other used car dealers are not real warranties. They are extended service contracts issued by various companies unrelated to Jaguar, and are like an insurance policy for car repairs.

Upon the expiration of the original factory warranty, Jaguar dealers will offer to sell you an "extended warranty" for various lengths of time and miles at varying prices. Jaguar dealers sell them because they're highly profitable. But they're not real warranties.

Salespeople often intentionally confuse consumers by saying "extended warranty", when what they're really selling is an "extended service contract". Even if that so-called "extended warranty" is summarized on a Jaguar dealer's letterhead, it is an extended service contract, and not a warranty. BUYER BEWARE! Aftermarket extended service contracts contain deductibles, exclusions and limitations that are often ambiguous and are used to deny claims. YOU MUST GET THE ENTIRE CONTRACT AND READ THE FINE PRINT BEFORE YOU SIGN AND PAY FOR IT! A sales brochure is not enough to make an informed decision. You must do your own due diligence. Those contracts typically state that the contract itself is the sole governing authority, and that you cannot rely on anything said to you or given to you in writing by or from anyone else.

If you think a particular extended service contract is attractive, be sure to Google it for complaints before you buy it.

Companies that underwrite extended service contracts are in business to make money. They have mountains of data, know the likelihood and cost of repairs by vehicle and component, and how to price their products. They also know how to write the fine print to deny claims. Any extended service contract company that loses money won't stay in business.

Think of it this way. It's like a casino in Las Vegas; the House always wins. Why? Because it's their game and they make sure that the odds are in their favor. Sure, once in a while someone hits the Jackpot. But that's just how the House keeps everyone else in the game - to make them think that they, too, will be winners. That's the same business plan for companies that sell extended service contracts.

Buying an extended service contract is a crapshoot. Just know that the odds are against you. And if you make a claim, get ready for an uphill battle.

And some are total scams.
https://www.realsimple.com/work-life...rvice-contract

So, is there anything else that I can do? Yes. Assume that the cost of the extended service contract is $5,000. Instead of paying that money to the seller, put it in a separate savings account in your bank and use it only to pay for repairs that would have been covered by that extended service contract. If the exclusions and limitations would have denied or limited payment of that claim, treat that repair money the same way. Odds are that at the end of the term of that contract, you'll still have money left over in that bank account. That's the equivalent of the company's profit.

Forum members will tell you about their great experiences with their aftermarket extended service contracts, but few, if any, will tell you about getting ripped off because their claims were denied. That's because they sold "that POS Jaguar" and left the Forum.

As I said earlier, it's a crapshoot. Although occasionally someone will hit the jackpot, the House always wins. Jackpots are a psychological warfare tool the House uses to make losers think that they can win, too. Don't forget that you're the amateur playing against the pro and the odds are against you.

It's your car, your money, and your choice. If buying an extended service contract helps you to sleep better at night, then maybe it's worth the cost. Unless those pleasant dreams turn into a nightmare.

Stuart

 

I had experience with them and it was worthy for me. I got my part replaced for my RAV4. Their support is quite good. First you should think about how long you plan to keep the vehicle. If it is for a short time, then purchasing an extended warranty is probably not a good financial decision.
If it is for long time, I would advise you to check for your vehicle that what is going to be covered and auto warrenty transferable or not
What, if any, out-of-pocket expense will you incur for a repair or replacement part and where can you take your car for repair. You may look for other services as well which have better ratings.