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jaa said:
I found a company that wants to sell me a 4 year, unlimited mileage, 0 deductible extended warranty for a 2002 Coupe GT for $6,800. Is it worth it, or is the price too high??

Here is a link:

http://www.aaautowarranty.com/titanium-advantage.asp
YIKES! You didn't say how long the warranty was for... 4 years, maybe.... Knowing what goes wrong with these cars and knowing it's usually $4000 or so (+/- $1000) says you make money all day at $6,800. I'd put the $6,800 in the bank and know it's probably OK if anything goes wrong..... Has anyone had a HUGE out of warranty expense?
 

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This contract covers labor charges, for approved repairs, up to $75.00 per hour. Labor times are based solely on current labor guides. (Mitchell’s).




Sounds like bull**** ask alot of questions before making any deal
 

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Gotcha!

The contract has a Gotcha Clause. I would expect all claims to be denied because of it.

LIMIT OF LIABILITY: Total accumulative Claims shall not exceed the average value of the vehicle listed in N.A.D.A. Official Used Car Trade-In Guide at the time of the present claim. Any claim within 30 days or 1,000 miles of purchase mileage may be considered a pre-existing condition at the discretion of G.L.W.C. SALES TAX: Is not included in any repair cost. IMPORTANT: In order to receive the full coverage of this limited service contract you must, at your expense, maintain your vehicle according to the manufacturer’s minimum service requirements, except engine oil and filter, which must be changed every three months or 3,000 miles (whichever comes first). Evidence of proper service (repair invoices) must be submitted in the event of a claim.
 

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Fred said:
The contract has a Gotcha Clause. I would expect all claims to be denied because of it.

LIMIT OF LIABILITY: Total accumulative Claims shall not exceed the average value of the vehicle listed in N.A.D.A. Official Used Car Trade-In Guide at the time of the present claim. Any claim within 30 days or 1,000 miles of purchase mileage may be considered a pre-existing condition at the discretion of G.L.W.C. SALES TAX: Is not included in any repair cost. IMPORTANT: In order to receive the full coverage of this limited service contract you must, at your expense, maintain your vehicle according to the manufacturer’s minimum service requirements, except engine oil and filter, which must be changed every three months or 3,000 miles (whichever comes first). Evidence of proper service (repair invoices) must be submitted in the event of a claim.
Fred

after 30 days or 1000 miles, where do you find the Coverage denial coming from? I have no issue with the denial if the repairs exceed the cost of the car, even cumulatively. I would assume, they would then owe you the the NADA value, or if this was your 2nd/3rd claim, the balence of the NADA value
 

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demoe said:
Fred

after 30 days or 1000 miles, where do you find the Coverage denial coming from? I have no issue with the denial if the repairs exceed the cost of the car, even cumulatively. I would assume, they would then owe you the the NADA value, or if this was your 2nd/3rd claim, the balence of the NADA value
I think it was the oil change statement. We don't change oil every 3000 miles so right away there's a loop hole.
 

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BeeYouZeeZee said:
I think it was the oil change statement. We don't change oil every 3000 miles so right away there's a loop hole.
Not to mention the 3 month interval. Having this done at a dealer will cost you more than the warrenty!
 

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Fred said:
Not to mention the 3 month interval. Having this done at a dealer will cost you more than the warrenty!
thanks Fred,

I think I need to have you read over all my potential contracts.

the 3000 mile thing isn't bad as this is new "industry standard" but the 3 month thing is not
 

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I just sold my 2006 BMW, and the oil change interval on that car was about 20,000 miles per the factory or 1 year, which ever came first. The car used a special long life sythethic oil.

Thanks for the contract law compliment, but my background was in racing motorcycles, and looking for loopholes in the rulebooks.
 

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Discussion Starter #11
maserati of minneapolis said:
Watch that labor rate too. Most Maserati shops are probably $100-125/hr labor rate.
The extended warranty has an option of paying $150 extra up front, and then when you have a claim they'll pay up to $125/hour labor rate.

I've figured that the best thing to do is stick the $7,000 in an offshore citibank mutual fund that gives minimum 14% a year, and just pay for any repairs out of that!
 

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just save your money. our cars aren't problematic as people make them out to be. i have an 2002 with 50,000 on the clock im on my second clutch, and f1 pump, but other than regular maintenance i haven't seen any major probs. not worth the $ in my oppinion.
 
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