Extended Warranty
#1
Extended Warranty
I'm new to the fourm and would like to say hello to everyone. I bought a 2004 DII last week, It has 26K miles on it. The factory warranty will expire April 13th. I want to purchase an extended and had sorta planned to get one from the LR dealership. I called two dealerships here in Atl (both of them owned by the same people) and neitherare willing to sell me an extended warranty because I'm not the orginal owner. Is this whackyor what? I've never heard of a dealer doing this before. Is ita LR policy or is the dealer in my area just goofy? Should I try a dealer elsewhere?
Your thoughtswould be appreciated.
Your thoughtswould be appreciated.
#2
#3
#4
#5
RE: Extended Warranty
Save your money. Everybody who buys a extended warrenty has trouble making claims.
https://landroverforums.com/m_54560/tm.htm
There are others who have had problems with claims, and there are people who have not had any trouble. But more than not you will have trouble.
Make sure that you follow the rules of the warrenty to the letter. Make sure that everything is documented, EVERYTHING.
Read the fine print, twice, sleep on it and then read it again.
You are better off putting the money into a money market account, you earn interest not the bank. If you want to do work yourself you can. If something needs to get fixed then pull the money out of the MM account and get it fixed anywhere you want.
Read the fine print and choose wisely.
https://landroverforums.com/m_54560/tm.htm
There are others who have had problems with claims, and there are people who have not had any trouble. But more than not you will have trouble.
Make sure that you follow the rules of the warrenty to the letter. Make sure that everything is documented, EVERYTHING.
Read the fine print, twice, sleep on it and then read it again.
You are better off putting the money into a money market account, you earn interest not the bank. If you want to do work yourself you can. If something needs to get fixed then pull the money out of the MM account and get it fixed anywhere you want.
Read the fine print and choose wisely.
#6
RE: Extended Warranty
HAHA I think I have seen that message copied and pasted every single time someone asks about extended warranties.
P.S. It seems that most people ask about purchasing extended warranties AFTER the initial warranty is over. Is there a difference between the warranty you purchase WHILE your LR is still coverered vs AFTER it is our of coverage?
P.S. It seems that most people ask about purchasing extended warranties AFTER the initial warranty is over. Is there a difference between the warranty you purchase WHILE your LR is still coverered vs AFTER it is our of coverage?
#7
RE: Extended Warranty
There is no defference between buying a warrenty before or after the factory one expires. All the ones offered are offered by aftermarket companies and these warrenties areNOT the same as the factory warrenty.
The problem with aftermarket warrenties is that (1), most people have to finance it with their purchase, which means higher payments because you are financing more. Plus you will pay more in interest over the life of the loan. So that $3000 warrenty will cost you how much over 60 month?
(2), they dont cover squat. If you do not do exactly what they say then they can and will deny your claim. They will cover a few small things to make you feel like you got your monies worth but thats it.
(3), they already have your money. What are you going to do, return the warrenty?
The dealership gets a kickback for every warrenty that they sell, and guess what, the dealership is in business to make money. Yes they care about you because they want you to come back and buy another car. But they dont care about you as much as you think.
The salesman gets paid a % on the TOTAL sale, so if he can boost the price by $3k he gets a bigger comission check at the end of the period.
The dude handling your warrenty claim gets a bonus for saving his company money. Claim denied because you did/didnt...he gets a bigger bounus at the end of the period.
The bank wants you to buy one because they make more money off the interest.
If the warrenty ups your payment by $25 per month that is $1500 over 5 yrs that could have gone into your pocket and earned YOU interest.
Most companies cover repairsUP-TO $5000, so $3000 for the warrenty, $1500 in payments and what do you get? $4500. So you kick in another $500 and you can cover what they would.
I wouldnt do it.
The problem with aftermarket warrenties is that (1), most people have to finance it with their purchase, which means higher payments because you are financing more. Plus you will pay more in interest over the life of the loan. So that $3000 warrenty will cost you how much over 60 month?
(2), they dont cover squat. If you do not do exactly what they say then they can and will deny your claim. They will cover a few small things to make you feel like you got your monies worth but thats it.
(3), they already have your money. What are you going to do, return the warrenty?
The dealership gets a kickback for every warrenty that they sell, and guess what, the dealership is in business to make money. Yes they care about you because they want you to come back and buy another car. But they dont care about you as much as you think.
The salesman gets paid a % on the TOTAL sale, so if he can boost the price by $3k he gets a bigger comission check at the end of the period.
The dude handling your warrenty claim gets a bonus for saving his company money. Claim denied because you did/didnt...he gets a bigger bounus at the end of the period.
The bank wants you to buy one because they make more money off the interest.
If the warrenty ups your payment by $25 per month that is $1500 over 5 yrs that could have gone into your pocket and earned YOU interest.
Most companies cover repairsUP-TO $5000, so $3000 for the warrenty, $1500 in payments and what do you get? $4500. So you kick in another $500 and you can cover what they would.
I wouldnt do it.
#8
RE: Extended Warranty
No no no, if you can get one from Land Rover I would jump on it. Spike is right in some cases of Non-rover warranties, but if you can get one from LR that is 100% worth it. There have been so many cases, even on here, where people had to use those warranties and it saved them big time. Sure, you might not use it, but you will always have it to fall back on JUST IN CASE.
#9
RE: Extended Warranty
ORIGINAL: Camdisco24
No no no, if you can get one from Land Rover I would jump on it. Spike is right in some cases of Non-rover warranties, but if you can get one from LR that is 100% worth it. There have been so many cases, even on here, where people had to use those warranties and it saved them big time. Sure, you might not use it, but you will always have it to fall back on JUST IN CASE.
No no no, if you can get one from Land Rover I would jump on it. Spike is right in some cases of Non-rover warranties, but if you can get one from LR that is 100% worth it. There have been so many cases, even on here, where people had to use those warranties and it saved them big time. Sure, you might not use it, but you will always have it to fall back on JUST IN CASE.
Just because it is offered by LR doesnt mean it is a LR warrenty.
Lexus for example extends the factory warrenty on certified pre-owned carsup to 100,000 total vehicle miles. So if they offered you that, then go for it. Although Lexus (Toyota) does this free of charge.
#10
RE: Extended Warranty
I visited a not-so-local LR dealer today for my inspection. They were very nice and are selling me the LR extended warranty on my DII. It's not cheap at $2,864 (3 additional yrs and/or 36K additional miles), but it is not a 3rd party warranty either. The inspection went well. It has 26K miles on it and about 2 months of the orginal warranty left. Both they and myself are still scratching our heads as to why our local dealer will not sell an extended to anyone that was not the orginal owner. Interestingly, the dealer that would not sell me one has 18 Better Business Bureau complaints in the last 3 years and the one I bought it from has zero, including the owner being on the cover of Time magazine a few years ago for the "Top Dealer for Cust Service" in the US.
I mostly wanted to post this so if anyone elses gets the cold shoulder from their dealer over extended warranties, they will know there are alternatives.
I mostly wanted to post this so if anyone elses gets the cold shoulder from their dealer over extended warranties, they will know there are alternatives.