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2002 DeVille
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Discussion Starter #1
My apologies if this thread is in the wrong forum, however I reviewed all of them and figured this would probably be the most relevant spot for it..

I've been shopping around for warranties and with the slew of scamming corps. out there it's really hard to know which ones are good and which aren't.

US Fidelis gave me a pretty good quote and coverage options, however I hear they have an F rating on BBB and have multiple lawsuits pending in various states around the US.

One company, CarChex, offered me the best price for an almost-similar to bumper-to-bumper policy. I know this company also offers an inspection service that some people have complained about and others swear by it. I'm not really too concerned with that aspect of their business, just the warranty part of it.

Has anyone here had any experience with this company CarChex in regards to a warranty for their caddy, and if so how did everything turn out?? Would appreciate a little feedback before I give them my hard-earned $$. =)

thanks !
 

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White Diamond '03 DHS (with DTS floor shift)
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I think I just saw something on the news about US Fidelis. RUN, don't walk away. Best one you can get is from GM, I think.
 

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2002 DeVille
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Discussion Starter #4
You really expect to get a 'warranty' for a 7yr old car??
I don't understand what you mean by this Dave. Yes, there are an array of companies out there that offer "warranties" on vehicles 7+ years or older with under 100K miles, some even offer for over 100K miles I believe.

So I'm not sure exactly what you are trying to imply with this post but yes indeed there are "warranties" out there for all of us with ANCIENT cars, 7+ years old. <sarcastic>
 

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2002.5 F55 CORSA STS, 2014 Explorer XLT FWD
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Based on personal and family experience with so-called "extended warranty" companies, you're way ahead of the game if you keep your money for yourself. Say a company wants $1750 for some sort of warranty. There's also a deductible figured in there, many dealers won't even look at the warranty, and you'll play hob getting the warranty company itself to approve repairs: they have the say on anything you want to repair, and I'll bet that there's a loophole at every paragraph (in favor of the company, not you).

Take the money you would pay someone else to insure your car and invest it in a money market or as part of a CD. YOU'LL get the interest, not some paper company, and you'll have the bucks to fix the nits and glitches.

Extended warranties are typically money in a dealer's pocket (100% of the cost to you), as soon as you plunk down your down payment the next sell is "Now let's talk about your extended warranty", and you'll notice that they're also the subject of an awful lot of spam advertising in your junk mailbox. It's your money.......
 

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2002 DeVille
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Discussion Starter #6
Based on personal and family experience with so-called "extended warranty" companies, you're way ahead of the game if you keep your money for yourself. Say a company wants $1750 for some sort of warranty. There's also a deductible figured in there, many dealers won't even look at the warranty, and you'll play hob getting the warranty company itself to approve repairs: they have the say on anything you want to repair, and I'll bet that there's a loophole at every paragraph (in favor of the company, not you).

Take the money you would pay someone else to insure your car and invest it in a money market or as part of a CD. YOU'LL get the interest, not some paper company, and you'll have the bucks to fix the nits and glitches.

Extended warranties are typically money in a dealer's pocket (100% of the cost to you), as soon as you plunk down your down payment the next sell is "Now let's talk about your extended warranty", and you'll notice that they're also the subject of an awful lot of spam advertising in your junk mailbox. It's your money.......
I beg to differ, Submariner. I appreciate your point of view, however, there are thousands and thousands of people out there that have purchased extended warranties and have very good experiences with them. Many repairs to vehicles, Domestic or otherwise, can be VERY expensive, as we all know. Repairs to a motor could EASILY exceed any full priced extended warranty in the long run, not to mention electrical, HVAC, and drivetrain repairs.

I completely agree with you there are alot of scamming companies out there that will look for the slightest "loophole" in the policy to avoid payment of the claim, however, there are a few very reputable and legitimate companies out there that are insured with billion-dollar underwriters, that WILL pay for a covered warranty claim. Many policies are very comprehensive, detailing precisely what is covered and what is not. As for the deductible, usually they run about $100, which isn't so bad relatively speaking.

Anyway, I tend to disagree overall with you, as I had an 100K mile extended warranty on my 03 Escalade and it covered (I'm estimating) over $15,000 dollars in repairs over the 4 years I owned it.
 

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2002.5 F55 CORSA STS, 2014 Explorer XLT FWD
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Apples and oranges.

Paying GM for an extended warranty on a new or nearly new certified Escalade, when you have a dealer to ping on, is one thing, trying to find an acceptable extended warranty on a 7 year old car is another.

Too bad the Escalade was such a repair-hungry vehicle. $3750 a year is a bit much......especially coupled with the lousy gas mileage...:sneaky:
 

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White Diamond '03 DHS (with DTS floor shift)
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Three things to keep in mind.
1. When you buy a warranty you are paying in advance for repairs you may or may not need.
2. Warranty companies are in business to make money. They don't make a profit paying OUT money. Read the fine print and exclusions very carefully.
3. Those who receive more in payouts that they paid in are in the minority (otherwise they'd be out of business).

Case in point.
http://www.cadillacforums.com/forums/northstar-performance-technical-discussion/168432-looking-head-gasket-repair-tx.html#post1862327

And then there's this. Note the first sentence in post #1
http://caddyinfo.ipbhost.com/index.php?showtopic=21756&st=0&#entry145139
 

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1992 STS / 2005 MB G500 / 2003 STS / 2006 XLR-V
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GMAC and GM Backed warranties are ok, along with extended warranties by JM&A Group out of Southern Florida (they do all the Certified vehicles for Toyota). Anything else is a gamble, some are good, some are not.

Consequently, the best warranties are typically sold THROUGH dealerships, dealer networks, or finance companies looking to protect their investment.
 

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2002 DeVille
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Discussion Starter #11
Three things to keep in mind.
1. When you buy a warranty you are paying in advance for repairs you may or may not need.
2. Warranty companies are in business to make money. They don't make a profit paying OUT money. Read the fine print and exclusions very carefully.
3. Those who receive more in payouts that they paid in are in the minority (otherwise they'd be out of business).

Case in point.
http://www.cadillacforums.com/forums/northstar-performance-technical-discussion/168432-looking-head-gasket-repair-tx.html#post1862327

And then there's this. Note the first sentence in post #1
http://caddyinfo.ipbhost.com/index.php?showtopic=21756&st=0&#entry145139
Response to #1: But is that not the theory of insurance in general? Paying for something that you may or may not need? If you DO in fact need it, the cost of repairs 9 times out of 10 will far exceed cost of policy.

#2: I think this point need not be mentioned, as it is pretty obvious ANY company is in business to make money. I am sure their actuaries have very complex, comprehensive mathmatical algorithms that calculate any and all risk factors for ALL makes/models for any given vechile.

#3: Not true. Underwriters wouldnt enter into losing propositions. I guarantee even if 75% of ALL their policy holders filed claims they would STILL come ahead in their fiscal year profits/loss figures.

To sum everything up, everything in the insurance world is (numerically speaking) is crunched, re-crunched, evaluated, modeled in computer with literally millions upon millions of different claim scenarios. They will always position these figures to come out for THEM (the company) to achieve a profit. However, this does not mean a warranty isnt worth purchasing. A dealer makes a profit on a sale of a new car, does that mean you shouldn't purchase the car because they are making a profit? Or that pack of gum you bought in Kiwik-Stop the other day, the store is making a profit on that, too... Making a profit is the single most important reason for going into business. (Unless your a charity organtization, which NEVER achieve profits for their board or committe members =) <sarcasm>

Bottom line, research, be informed, and be a smart buyer when it comes to extended warranties. If they were ALL fraudulent companies then I doubt the entire "extended warranty" industry would cease to exist, eventually, after losing complete credibility from the general public.
 

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99STS,2004 Jeep Liberty Renegade,98 Deville RIP
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Obersturmfuher your points are both valid and well informed but in your orginal post you asked for feedback on this company. I think without being sarcastic you now have the answer you sought. A couple of thoughts though on Aftermarket warranties.. People who buy them in the dealerships usually have them amortized over the life of the loan provided they get it financed, this has a big bearing on people buying these. Dealerships know this and will take advantage of people by saying to them that they may not be financed if they do not include this in the loan. I know that this happened to me twice when going to buy a vehicle of course this is a generalization but in my case its true. The best warranty to have is the one where you do all the work and fix all your problems without seeing the inside of a shop. I am lucky I can do this and I know that many others cannot. The second best is the plan that Sub brought forward put the money into an account and draw it down if needed, the drawback to that is people may not have the money to put aside after the purchase. Last is the extended warranty company, as you have said do the research and hope for the best.. Whatever one you buy, please let us know what your experiences were, you may help to change the negative attitude towards these companies.
 

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Sedan de Ville, CTS
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Someone mentioned a ton of repairs ($15,000 worth on an Escalade). Keep in mind that almost all third party warranties stop paying after they have spent ($1) more than the wholesale value of the vehicle. The fine print states that in the contract.
 

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Sedan de Ville, CTS
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My apologies if this thread is in the wrong forum, however I reviewed all of them and figured this would probably be the most relevant spot for it..

I've been shopping around for warranties and with the slew of scamming corps. out there it's really hard to know which ones are good and which aren't.

US Fidelis gave me a pretty good quote and coverage options, however I hear they have an F rating on BBB and have multiple lawsuits pending in various states around the US.

One company, CarChex, offered me the best price for an almost-similar to bumper-to-bumper policy. I know this company also offers an inspection service that some people have complained about and others swear by it. I'm not really too concerned with that aspect of their business, just the warranty part of it.

Has anyone here had any experience with this company CarChex in regards to a warranty for their caddy, and if so how did everything turn out?? Would appreciate a little feedback before I give them my hard-earned $$. =)

thanks !
1. I hope you have done a search here and under google. There is a ton of info here, plus on the internet.

2. Also, check if your preferred warranty is an inclusionary or an exclusionary. That makes a big difference.

3. Some warranties cover wear and tear; others cover only actual breakage.

4. Get a copy of actual contract. Ask any service mgr (any manufact) to read it for you. He/she can tell if it is junk. Cost: a dozen good tamales.

5. Put money in bank. If a car is still within factory warr, you can buy an additional 6 years of $0 deduct coverage for $1400. I suspect a 7 year old car will run you at least $2700 plus $100 deduct. Watch for labor cap on repairs. Warr might cover $80 per hour. The balance of eligible repairs is covered by you.

6. Get a great 200 power magnifying glass.
 

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2002 DeVille
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Discussion Starter #15
1. I hope you have done a search here and under google. There is a ton of info here, plus on the internet.

2. Also, check if your preferred warranty is an inclusionary or an exclusionary. That makes a big difference.

3. Some warranties cover wear and tear; others cover only actual breakage.

4. Get a copy of actual contract. Ask any service mgr (any manufact) to read it for you. He/she can tell if it is junk. Cost: a dozen good tamales.

5. Put money in bank. If a car is still within factory warr, you can buy an additional 6 years of $0 deduct coverage for $1400. I suspect a 7 year old car will run you at least $2700 plus $100 deduct. Watch for labor cap on repairs. Warr might cover $80 per hour. The balance of eligible repairs is covered by you.

6. Get a great 200 power magnifying glass.
wow, thanks for the information Z06, much appreciated. You've mentioned some good points... however, I doubt I 200x will be enough power, I think i'll go to home depot and get myself an scanning electron microscope just to be on the safe side =)

oh btw if you name implies the car youve had or have, I used to have an '04 black Z06(all stock).. great fun, took it to the track bunch of times.. best run out of it I got was 13.0... all mags say It can pull mid 12's but I highly doubt that, with a perfect launch and no wheelspin MAX I am assuming I couldve acheieved was high 12's... maybe if it was 10 below outside I couldve hit mid 12's with slicks =)
 

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Simplest way to pick a warranty:

Have any service mgr review it with you. These guys see all of the crap out there.

Total cost = lunch.
 

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Sedan de Ville, CTS
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oh btw if you name implies the car youve had or have, I used to have an '04 black Z06(all stock).. great fun, took it to the track bunch of times.. best run out of it I got was 13.0... all mags say It can pull mid 12's but I highly doubt that, with a perfect launch and no wheelspin MAX I am assuming I couldve acheieved was high 12's... maybe if it was 10 below outside I couldve hit mid 12's with slicks =)
Long story on my Z. I probably have a record for owning a Z for the shortest period of time and driving it at the lowest speed on the highway.

1. I purchased red 2002 Z with 1,400 miles on it--approx 2008 (year).
2. Seller was in hospital dying.
3. Son wanted car; he was in Germany in mil.
4. I drove it. My max speed was perhaps 60 mph for a few sec. (I was afraid to wrap it around a pole on a test drive.)
5. Had a written agreement between us and seller, where we would complete the deal within 3 weeks--with either the owner or his executor.
6. 2.5 weeks later, guy calls me back and says: "I am gonna live; I want to terminate the deal."
7. Son and I agree we should terminate the deal because I would have to drive car, store it, and insure it for 2 years or so.
8. Seller calls again apologizing that he had seller's remorse. Says we can have the car.
9. I said "you can have the car, but I want first right of refusal at some point in future.
10. Owner calls me one year later offering car to me again because his leukemia is terminal--critical.
11. Son declined; he has BMW.
12. Owner sells car to one of his neighbors.
13. Owner passes. Good man. Loved cars. He was obsessive compulsive to the extreme. He drove car only on week ends. He put it up on blocks during week. His garage was air conditioned. When I thought I was buying car, I purchased a used shop manual with dog ears. I later sold book to him. He called me back complaining about used manual--because he was so compulsive. I quietly laughed and reminded him that the book would show a lot more wear and tear as he worked on car.

In short, he was a very fine man, honest businessman, just a neat car guy.

I miss him even though we knew each other for only a short period of time.

Sorry to steal this thread and bore everyone with my story, but it is a fascinating story.
 
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