Extended warranty ripoff

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Jan 16, 2004 | 01:01 PM

doczog

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Joined: Oct 2001

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Extended warranty ripoff

I bought a 100,000 mile 6 yr extended warranty from Warranty Gold for about $1000...

Just got an email from their lawyer that their holding company went broke and they won't honor any claims for warranties bought before July 2003...

BUT, if you go to their web site, www.warrantygold.com, they are still selling warrantied...WOW>>>>>>>>>>>>>>:

Jan 16, 2004 | 04:06 PM

openclasspro

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Joined: Jul 2003

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From: irwin,pa

always go with mfg warranty-mfg won't go out of buisiness- plus there aren't as many issues with them-i hate to say it but you get what you pay 4 in this casae- good luck!-phil

Jan 16, 2004 | 07:49 PM

Racerguy

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Joined: Aug 2002

Posts: 12,679

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From: BC, Canada

Sorry to hear about that

From what I've seen most aftermarket warranties are hardly worth the paper they are written on.
Ford extended warranty is good and works at all dealers.

Jan 17, 2004 | 08:14 AM

JeremyH

Posting Guru

Joined: Jun 2003

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From: Houston, Texas

You should turn them into your state's attorney general....they should be able to help you. They will be EXTREMELY interested to know that this company is selling a product that they know they cant deliver on.

Jan 17, 2004 | 12:37 PM

Aftrmidnite

Fleet Mechanic

Joined: Jul 2003

Posts: 1,574

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Be careful about the warranty you buy from the dealer as it may not be from the manufacture. I bought an extended warranty, on a brand new car. Years latter my wife hit a small puppy with the right side on the road. Two months latter the left strut bracket broke. They denied my claim, said the car had been in an accident. There was no body, frame or paint work done on the car, but you could see the fur stuck to the undercoating on the frame. Within a year the other strut bracket started to tear at the same location. They refused to pay for that. The AC compressor went and was listed as being covered. They refused the claim on that too. Said a hose was leaking, and caused the compressor to go out. There would have been no way they could have tested the hoses with the front bearing and seal out of the compressor. I replaced the compressor, accumilator and added a drier to the system and used the same hoses. So I would second the opinion the warranties are worthless and would recommend you put the money in the bank under a special account. If you have something major you can do the repairs or use the money for a down payment on new.