Extended warranty

[Bassik]

$2000 from Leaseworks Australia though I need to check the PDS.

Yeah now if you get a quote it's higher.

I got quoted today:

24 months New Vehicle is $2314.10

But I have a reserved quote that I did last month that's the same for $1433. Still don't know if it's totally worth it? Esp if I end up getting tune.

[Dutch77]

Yeah now if you get a quote it's higher.

I got quoted today:

24 months New Vehicle is $2314.10

But I have a reserved quote that I did last month that's the same for $1433. Still don't know if it's totally worth it? Esp if I end up getting tune.

Unless it's genuine manufacturers warranty those things just have too many loopholes and non-covered items. As many point out, it's basically an insurance product priced so that they make money, very very few people would finish ahead on them.

IMO, put the $1,433 towards the tune and some hardware.

[Bassik]

I'm sure if you read the T&C you'd be covered for some things. It's worth noting though because I would not want to have to spend the sort of cash if the DSG fails for no reason. Those things are an easy $10k unit, very complex.

Its more of a peace of mind for me. Also resale value will hold up if the car has some kind of cover on it. Thing that I hate is that my warranty runs out in April 2014 and I am expected to pay now for a cover that wont start nearly a year away.

It's ridiculous....

[MovieDude]

I don't like this wording at all:
"23. Any mechanical failure caused by a fault that existed prior to the commencement of cover."
Sounds like a get out clause for almost any mechanical claim.

[Bassik]

I don't like this wording at all:
"23. Any mechanical failure caused by a fault that existed prior to the commencement of cover."
Sounds like a get out clause for almost any mechanical claim.

Hahaha... wow I imagine there to be more too

Last night I watched a doco called "Terms and Conditions May Apply" really made me think I should read everything I sign.

[wai]

I don't like this wording at all:
"23. Any mechanical failure caused by a fault that existed prior to the commencement of cover."
Sounds like a get out clause for almost any mechanical claim.

Exactly. If you reported an issue during the warranty period, or even expressed concern about something that turned out to be OK, this will be taken as a pre-existing condition.

If looking at protecting you against DSG issues, the fact that VW have accepted there is a problem with some parts of the gearbox, this will be taken as a pre-existing condition. Even if it is the mechatronics unit, it will be argued that that caused bad shifts that then lead to the failure of the gearbox.

Just not worth it.

[Bassik]

Yea but having said all that if you get a detailed service with a check list, dated and an authorized this should hold up as proof the problem had never been detected prior to getting the extended warranty. The only problem with that is most times you don't identify a problem until its too late.

[wai]

I would love to know if anyone has actually had a major claim actually paid by the extended warranty insurer? This is not VGA coming to the party and meeting the cost or part of it, but the extended warranty insurer actually meeting the cost of a major repair that showed up after the manufacturers warranty expired.

[wai]

Yea but having said all that if you get a detailed service with a check list, dated and an authorized this should hold up as proof the problem had never been detected prior to getting the extended warranty. The only problem with that is most times you don't identify a problem until its too late.

The problem is that it costs you to challenge these things. Unfortunately the law is only there to help those who have the money to use it.

On making sure you record things, how about this one. I have two brothers who did very little for our parents. Around 4 years ago, I was given Power of Attorney by our mother. My mongrel brothers challenged that Power of Attorney and had them appointed because they wanted to use her assets as surety against loans they want to take out (don't want to risk their own assets), and so they say that she was not mentally capable of assigning that power. She was perfectly OK, but as no mental assessment was carried out at they time of assigning that power, it was open for challenge.

Now who would have thought they would have to undergo a mental capability assessment before assigning such a power? The system is weighted in favour of those who have the finances to take action and not those who challenge decisions. The average citizen has to be destitute before any financial assistance is made available.

The same goes for things like warranty insurance. It is always weighted in favour of the insurer. Yes, they will meet claims, but when you go into the detail, they get their costs back. This is precisely what "no claim bonuses" are all about. In reality the premium only ever needs to be what it is with the maximum NCB, however how do you recover the cost of claims? Introduce the concept of NCB and then charge those who claim even more to recover what you paid out plus some.

[AdamD]

I would love to know if anyone has actually had a major claim actually paid by the extended warranty insurer? This is not VGA coming to the party and meeting the cost or part of it, but the extended warranty insurer actually meeting the cost of a major repair that showed up after the manufacturers warranty expired.

Yes, I know of a couple of individuals (neither on this forum) who've had substantial repair work done on their cars, covered by a non-manufacturer extended warranty policy.

I have the Allianz extended warranty; it kicked in a couple of months back. A fortnight before it commenced, I had a pre-end-of-warranty inspection done by a reputable independent - which gave it a clean bill of health - and then a major dealer service. I'll certainly be producing those reports and receipts should I need to make a claim and they try to play the preexisting-condition card.