Non-dealership warranty?
#1
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Non-dealership warranty?
Hey guys I recently saw an add for a company called US Fidelis. They supply "aftermarket" warranty for vehicles whos factory warranties may have expired. I have 77k miles on my 04 F150. Do you guys think something like that would be worth it? Anyone have any experience with aftermarket warranties like this?
#2
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Funny you should mention that. I get these freakin' phone calls and voicemails telling me to buy an extended warranty. My truck is covered until 100K so I don't know why the heck they're calling me.
#3
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Ya I have gotten those calls before. But the one I was talking about was actually a comercial on TV and I called them to get a qoute. Their best coverage ended up being roughly $170 a month interest free until the coverage was payed off at around $3k total cost. gave coverage up to 140k miles or 5 years (My truck has 77k on it so just about 63k more miles of coverage or 5 years whichever hit first) That was the top tier coverage they had lower cost lower coverage plans......Anyone think this would be worth while or take my chances and hope any thing that may go wrong will ultimately cost less than what the total coverage would cost....?
#4
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IMO I wouldn't do it. $170 a month sounds like it's going to cost more than fixing stuff as it breaks over time. I have seen commercials about the aftermarket warranty but to me they seem like a waste.
#5
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kinda what I was thinking. Im just kinda paranoid. I plan on keeping this truck for quite a while through thick and thin thats the only reason I was considering it.
#6
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Hey guys I recently saw an add for a company called US Fidelis. They supply "aftermarket" warranty for vehicles whos factory warranties may have expired. I have 77k miles on my 04 F150. Do you guys think something like that would be worth it? Anyone have any experience with aftermarket warranties like this?
First most of these plans are much more expensive than anything you'd normally pay. Think of it. They're companies in business to MAKE money. In other words, charge more than then pay out in payments to shops plus their expenses.s
Second, do you really think they'd sell you a plan if your truck is likely to have problems the first 5 years?
If you're really worried about it, why not take the money and put it in the bank each month. At $179/month you'd have a nice savings and actually have the money when nothing goes wrong. And if it does go wrong, you'd just take the money out of the account. In other words, just keep paying in (just don't be tempted to use it for other things). Get into the habit and you'd be in good shape in the long run.
#7
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Exactly^^^^ Just save the $170 a month and IF something does go wrong, you'll have the money to fix it and you'll be happier because you're not throwing your money to some company thet you've never heard of. You work hard for your money so why give it to some scam company??
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#8
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One word - NO
First most of these plans are much more expensive than anything you'd normally pay. Think of it. They're companies in business to MAKE money. In other words, charge more than then pay out in payments to shops plus their expenses.s
Second, do you really think they'd sell you a plan if your truck is likely to have problems the first 5 years?
If you're really worried about it, why not take the money and put it in the bank each month. At $179/month you'd have a nice savings and actually have the money when nothing goes wrong. And if it does go wrong, you'd just take the money out of the account. In other words, just keep paying in (just don't be tempted to use it for other things). Get into the habit and you'd be in good shape in the long run.
First most of these plans are much more expensive than anything you'd normally pay. Think of it. They're companies in business to MAKE money. In other words, charge more than then pay out in payments to shops plus their expenses.s
Second, do you really think they'd sell you a plan if your truck is likely to have problems the first 5 years?
If you're really worried about it, why not take the money and put it in the bank each month. At $179/month you'd have a nice savings and actually have the money when nothing goes wrong. And if it does go wrong, you'd just take the money out of the account. In other words, just keep paying in (just don't be tempted to use it for other things). Get into the habit and you'd be in good shape in the long run.
And just FYI the monthly cost of $170ish was only to be paid for 18 months interest free...not over the whole five year coverage.....so basically you would pay &170 for 18 months then have coverage for five years....Or you could just pay the entire cost up front and be done with it....keep in mind that was the top tier coverage they had cheaper plans that covered less stuff. Im mostly worried about powertrain.
But your idea of putting the money in a seperate bank account is not a bad idea...
#9
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I am personally against any/all extended warranty programs, as every one that I have seen provides very helpful "outs" for the warranty provider. Allowing them to not cover on a technicality and still leave you screwed and with less money in your pocket.
As my vehicles get older, I just put aside some money, and am prepared for what might go wrong, and I also take very good care to do regular service.
As my vehicles get older, I just put aside some money, and am prepared for what might go wrong, and I also take very good care to do regular service.
#10
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FYI, I'm currently working on this. My new truck is being partly paid for by a HUGE amount of equity put in. Ideally, I'll keep it for at least 10 years and be without a car payment in a couple of years, and further this.
The key is to make smart financial decisions and to avoid financing whenever you can. Now the exception is when things are 0% or very low interest, but that's another discussion.