Extended warranty ripoff
#1
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>>>>>>>>>>>>>>:
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>>>>>>>>>>>>>>:
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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.
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