Extended Warranties
Any info on who uses them, witch ones are better than others, and cost
Forum Discussion
prstlk wrote:
We have an extended warranty through American Guardian Warranty Services/Compass.
It was written into the contract when we bought our 2007 Holiday Rambler so it was not an up front cash outlay for us.. . . We don't regret having it.
Not to argue with your comfort level, I do understand. Had you set aside $5,000 at purchase (of the $9,800 you could have reduced the financing by at close) and then funded $200/month into the account you would have paid for all of the repairs with cash left over for ongoing repairs.
In your case you seem to have had far more repairs than one would expect in a new coach. Even so the dealer has made out like a bandit profiting both from the sale of the warranty AND from the additional financing on $9,800.
I would ask one more question, does your financing extend beyond the life of the warranty? If so you will be paying for the warranty for the life of the loan. I call this out, not because you can change anything now unless you can refinance, but as a warning to others and to you in the future.
I buy any extended warranty direct from the provider and I research my own financing and will permit the dealer to arrange it only if the terms are the same or better than I can get for myself.
