: Aftermarket Car Warranty



mnymaker
06-07-03, 11:13 AM
Hey folks just a little advice for those of you who may not know it or at least something to remember if you buy a lot of cars like me. As some of you daily forum readers know I just swapped out my 1999 SLS for a 1999 STS :D ( loving it).

But when I bought the 1999 SLS I bought the aftermarket warranty (bumper to bumper, 100K miles) which gave me essentially another 50K mile warranty similar to the new Cadillac warranty because the car only had about 48K on it when I bought it.

Well when I got ready to get the '99 STS, I traded my '99 SLS in, to a different car dealer and the Cadillac dealer that I bought my STS from said that they also sell aftermarket warranties as well for a price of course but I had just paid like $1800.00 a year and a half ago for a bumper to bumper warranty that was transferable between buyer and seller if they were two private parties but not to a dealer.

Well anyway after reading the fine print I realized that I could get a refund if I terminated the contract before I sold the car also. So I contacted the dealership that I bought the '99 SLS from and told them I wanted to terminate the warranty (I never had a claim) and recoup the balance on it, but then I asked if they could transfer it to my new car and she said no, but I could buy a new warranty from them and she could use the money coming from my refund to apply to it. The long and short of it is I paid an additional $600 to the old dealer to transfer my bumper to bumper, 100K warranty from my 99 SLS to my 99 STS instead of losing my entire $1800 and then buying another $1600 - $1800 warranty from the new cadillac dealer.

So if you ever buy an aftermarket warranty check to find out if you can terminate it and get a refund. Could save you a bundle if you don't keep the car or total it in an accident.

:banana:

BeelzeBob
06-07-03, 01:04 PM
Good advice.. Thank you...

elwesso
06-07-03, 10:44 PM
Im glad you got things worked out........ Did everything happen smoothly, or was there a lot of footwork on your part??

mnymaker
06-08-03, 01:00 AM
No it went pretty smoothly. The only footwork was reading the fine print and asking my old dealership if they could or would sell me a warranty for my STS. Which they did. They simple sold it to me for the same price as the original warranty I had purchased so I only had to pay the difference between what had been used up in premiums ( for lack of a better term) and the actual cost. Mind you that about 18 months have gone by since the original warranty was purchased on the SLS. So to only have to pay roughly $600 to get a 3yr/50,000 mile bumper to bumper warranty was just fine to me. The original warranty was 4yrs/50,000 miles but the warranties have gone up in price so I took the one less year but same miles. We figured at the rate I go through cars I won't be driving it in 3 or 4 years anyway and if I am hopefully I will have broken anything I need to by then anyway.