|
FAQs
-
What
is an Extended Warranty* (vehicle service agreement)?
Only manufacturers offer a
"bumper-to-bumper" factory warranty, limited by time
and/or miles. In most cases, the factory warranty will cover the repair
or
replacement of most vehicle components should they fail under normal
operating
conditions. In addition, some manufacturers offer a "power train"
warranty that
will, for a longer period, cover the failure of a limited number of
parts that
are lubricated by engine oil. Most Warranty carriers markets vehicle
service
agreements (commonly called "extended warranties") that provide
exclusionary (
new car) coverage back 5 model years, and emulate the extended
warranties
offered by the original selling Dealer, at the time of your purchase.
Comprehensive listed component coverage is also available for pre-owned
autos
and trucks back 20 years.
[Back to top]
-
Why do I need an Extended Service Agreement?
Approximately 33% of all vehicles
experience a breakdown in a given year. Should
this happen to you after the factory warranties expire, you have nothing
to
protect you from repair costs that can be in the thousands of dollars.
More
importantly, owners will frequently put off needed repairs until they
can afford
the cost of the repair. This delay often results in additional damage to
the
vehicle, and in some cases an increased repair bill, and often leading
to an
unsafe driving condition. The risk of component failure and associated
repair
costs increases with your vehicle's age and mileage. Many Warranty
companies
offers a variety of quality programs, comprehensive extended warranties
that
protect your budget against unexpected repair charges. Think of an
extended
warranty as a risk-management tool that ensures that repairs to your
vehicle are
performed when they are needed. All our warranties are transferable so
your
vehicle will be worth more when you sell it. Please contact one of our
Professional Brokers to discuss the coverage that best fits your needs.
[Back to top]
-
Why are your Service Agreements, (extended warranties) so economical?
Car dealerships use high-pressure sales
techniques to sell extended warranties
in order to improve the profit margin of the vehicles they sell, and
then
include it in your financing thus increasing the margin yet again.
Because we
have no such overhead pressure on our programs, we are able to offer an
equally
competitive, and sometimes identical warranty product at reduced prices.
By
acting as an Independent Broker/ Agent we shop out the most
comprehensive
coverage for the dollar, usually reviewing as many as 10 policies,
narrowing
them down to 2, discussing with you the features, benefits and price,
before
making our recommendation on your behalf.. As your agent we will shop
the"
better" internet providers, as well as long established carriers working
within
1,000's of U.S. Dealerships. It gives us the ability to bring you our
Professional Services and 1st rate warranty products in volume, with an
affordable sales strategy.
[Back to
top]
-
What is “Wear and Tear" or "Failure Coverage"?
Extended warranty contracts
specifically exclude breakdowns that are caused by
"wear and tear". This means that if a part fails because it wears beyond
O.E.M.
factory tolerance, the warranty provider will not pay for the repair
because
the part did not "break", it just "wore out". Many warranties are
strictly
mechanical breakdown polices. As an example (Should a ball joint break
and you
are towed in, it would pay for towing (usually $50) and the parts and
labor on
the repair. If the other ball joint is diagnosed as out of tolerance but
has not
actually broken yet, if replaced it would not be covered under the
existing
contract.) With Wear & Tear or as some carriers designate it Failure
Coverage,
the out of tolerance item would be replaced at the same time at no
charge other
than the deductible.
[Back to top]
-
Are your Service Agreements insured?
Yes, all our service programs are
either directly insured or
re-insured by some of the worlds largest RE's. The carriers
reserve funds are used to pay for claims against your
agreement, these monies are secured for your protection.
Insuring the reserve trust fund with an A.M. Best A or A+
rated insurance company is the best way to ensure customer
confidence. Insurance companies must comply with strict
Federal guidelines that continually monitor solvency. As a
result, even if the administrator should use all of the
reserve funds to pay for submitted claims, the insurance
company steps in to make sure that your covered claims are
paid. Look for this in any carrier.
[Back to top]
-
Who is the "administrator"?
When your car requires repair, the ASE
service facility you
choose will contact the claims administrator via the 1-800
number included in your extended warranty packet. The
administrator is responsible for determining if the reported
problem is covered by the specific contract purchased. They
also are responsible for authorizing credit card payment to
the repair shop for covered claims, scheduling inspections,
and handling contract transfers to new owners and
cancellations should the vehicle be traded or stolen..
[Back to top]
-
What happens if I sell my vehicle?
Your car or truck will be worth
hundreds, if not thousands
more in perceived value when prospective buyers know that it
protected with an extended service agreement. All programs
purchased through The carriers are transferable to the new
owner when you sell your vehicle. If you trade your vehicle to
a dealer, you must cancel your warranty within 30 days, and
receive a pro-rata refund of the unused portion. Refunds are
determined by the greater of the days in force, or the miles
driven, based on the term of the plan selected and the date
coverage began. You will receive your refund in 30-45 days.
[Back to top]
-
How can I pay for my new Service Agreement?
Most Warranty plans have several
payment options: cashiers
checks, money orders, personal checks, MasterCard, Visa,
Discover and American Express. We also provide programs
through our carriers for financing with no approval required,
no interest, and only a small administration fee for
electronic transfer of funds.
[Back to top]
-
When does my agreement become effective, and then expire?
Most Service Agreements go into effect
when vehicles pass
inspection (if required by age and mileage) and deposits.
Immediate coverage for those unexpected breakdowns. Unlike
many Internet Warranty companies whose polices go into effect
30 to 45 days and 1,000 miles after the contract is signed
EXPIRATION: The programs expire when the vehicles have reached
either their mileage parameter, or their time parameter
expressed on the original agreement. We have chosen not to
represent 100% refund polices for none use, which in reality
are only paid out to 2% of warranty purchasers. A service call
for a tire or battery negates the refund on policies which
usually have a surcharge built in, without your being aware.
Beware of carriers offering buyback coverage.
[Back to top]
-
Should I buy an extended
warranty?
Only you will be able to answer this question. Before you buy get the
facts. Use this site to to help make an informed decision!
Approximately 33% of all vehicles experience a breakdown in a given
year. Should
this happen to you after the factory warranties expire, you have nothing
to
protect you from repair costs that can be in the thousands of dollars.
More
importantly, owners will frequently put off needed repairs until they
can afford
the cost of the repair. This delay often results in additional damage to
the
vehicle, and in some cases an increased repair bill, and often leading
to an
unsafe driving condition. The risk of component failure and associated
repair
costs increases with your vehicle's age and mileage. Many Warranty
companies
offers a variety of quality programs, comprehensive extended warranties
that
protect your budget against unexpected repair charges. Think of an
extended
warranty as a risk-management tool that ensures that repairs to your
vehicle are
performed when they are needed. All our warranties are transferable so
your
vehicle will be worth more when you sell it. Please contact one of our
Professional Brokers to discuss the coverage that best fits your needs.
[Back to top]
[Back to top]
-
Why buy an extended
warranty?
I do not need to tell you that vehicles break or wear out. Where most
manufacture warranties expire in 3 or 4-years, an extended warranty can
provide some repair relief afterwards. Consider this, your vehicle is one
of your largest expenses. Here is something to put the cost of your
vehicle in perspective and this only one circumstance. An middle range
house costs around $150,000. This equates into a monthly mortgage of
around $1100 per month. We put this into a monthly cost for comparison. If
you consider most households have at least 1 continuous monthly auto
payment. A vehicle payment can easily be 30% of your mortgage. If you
purchase any type of high end vehicle it can be 50% of your mortgage. Many
circumstances would make this the second highest expense.
Will you have to take your Vehicle to a mechanic? Vehicles today are
complicated and if you do not have the correct equipment, impossible to
diagnose, therefore making it harder to repair.
[Back to top]
Types
of Policies
-
a.. BUMPER TO BUMPER
Only the Manufacturer can offer "Bumper to Bumper"
coverage!!! "Bumper to Bumper" (from the manufacturer) covers EVERY
electrical and mechanical part on your vehicle, including cosmetics,
vinyl, leather, upholstery, rust, paint, paint oxidation, corrosion,
emissions, and the exhaust system. Any internet website or
salesperson stating that their agreements are "Bumper to Bumper" are
misrepresenting their coverage!!!
-
b.. EXCLUSIONARY AGREEMENTS
This is the most comprehensive Service Agreement that you can
purchase for your vehicle.
Since there are so many parts on a car, they can only list what is
excluded. All parts on the vehicle not listed in the exclusions, are
covered. Hence the phrase "Exclusionary." Warranties4Wheels offers
Exclusionary Coverage for most vehicles 20 years old or newer with
less than 60,000 Miles on the Odometer.
-
c.. LISTED COMPONENT AGREEMENTS
Most of the Auto Warranties for New & Used Vehicles found at
many Dealerships, Credit Unions or on Internet Websites are called
"Listed Component" agreements. They only "List What is Covered". All
of the other parts on the vehicle Not Listed in the Agreement are
Excluded, hence the lower cost.
-
d.. START DATE OF COVERAGE
Our Agreements Start on the Purchase Date of the Contract,
not the Original Purchase Date of the Vehicle (like at the
Dealerships).
-
e.. DO NOT BE FOOLED BY LOWER PRICING AND INFERIOR COVERAGE!
You need to COMPARE contracts when shopping for a Service
Agreement. For a proper comparison you should
get actual copies of the contracts (not brochures, as they are
vague). If the verbiage on the contract states, "We provide coverage
for the following components", it is a "Listed Component" agreement,
and not an "Exclusionary" one.
-
f..Power Train Coverage
All internally lubricated parts of the Engine, Transmission, Drive
Axle Assembly (front or rear), and Transaxle Assembly are covered.
Seals and Gaskets and the 4x4 Transfer Case can be covered at an
additional rate.
-
g..Specialty Programs
Once the Factory Warranty has elapsed, our Extended Service Program
will cover the complete vehicle and Conversion Unit out to its
selected time frame or mileage, as outlined in the agreement.
Underwritten by one of our primary carriers, our service program
will cover the Alt Fuel Conversion Units "ONLY" while the vehicle is
still under the original Factory Warranty Period (the first 3 years
or 36,000 miles of your odometer reading).
[Back to top]
-
Who should I buy
the extended warranty from?
Dealers-You can buy an extended warranty from your dealer or an
independent broker.
Buying the warranty from a dealer is easy. They make it more convenient
for you to purchase an extended warranty, they just add it to your loan.
Your dealer may very well be reselling the warranty similar to a broker.
This is the reason you can buy a vehicle from any of the major
manufactures with an extended warranty with a top name from the
manufacture. (I did not name the manufactures for commercial
reasons.) If the dealer is reselling the warranty you can be assured they
have included a mark up, sometimes doubling the cost. The dealer also
sales only the one plan. They may not give you several options to chose
from.
Broker-Unlike the dealer you may not be able to add it to your
loan. Check out your broker some of them are fly by night. These are the
bad things. The good things I have added in the bulleted list.
-
A broker can offer you more or modify a plan that works for you.
-
You do not have to cough up your money 3 years in advance! If you are
like me you keep your money as long as you can.
-
You may be able to work out a low payment plan with your broker.
-
Get more for your money.
Where it may not seem like it is less money, you get more coverage.
-
You can get a brokers to
argue in your behalf.
►If you can do with out the the part about adding the cost of the warranty to the loan,
brokers have more benefits. You can get more from a broker, but make sure
you do your background homework. Use the resource links from the
home page.
[Back to top]
-
Why are your Service Agreements, (extended warranties) so
economical?
Car dealerships use high-pressure sales techniques to sell extended
warranties
in order to improve the profit margin of the vehicles they sell, and
then
include it in your financing thus increasing the margin yet again.
Because we
have no such overhead pressure on our programs, we are able to offer
an equally
competitive, and sometimes identical warranty product at reduced
prices. By
acting as an Independent Broker/ Agent we shop out the most
comprehensive
coverage for the dollar, usually reviewing as many as 10 policies,
narrowing
them down to 2, discussing with you the features, benefits and
price, before
making our recommendation on your behalf.. As your agent we will
shop the"
better" internet providers, as well as long established carriers
working within
1,000's of U.S. Dealerships. It gives us the ability to bring you
our
Professional Services and 1st rate warranty products in volume, with
an
affordable sales strategy.
[Back to top]
-
Where can you take your
vehicle for service?
Any ASE, ASA, or
IATN (international automotive technicians
network), certified repair
facility in the continental united states, and Canada. They repair
facility is paid how they want to be paid direct by corporate credit
card or check. Some excellent programs are still on a reimbursement
program, and that is fine with a reputable established company.
[Back to top]
|
|
|
Advertise on this site
|
 |
