Companies for used car warranties?

#1
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BallerVol02

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#1
Does anyone know of any? I am thinking about getting a used Saab. The dealership advised me to go with Penn Corp but after reading reviews they are frauds that get out of repairs. Does anyone know of a company that I can pay monthly? Thanks.
 
#3
#3
Just find a mechanic that you trust, and hold on tight.

These things are all crap -- they wouldn't be in business if the average customer didn't pay more for the warranty than they got out of it.
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#4
#4
milohimself said:
Just find a mechanic that you trust, and hold on tight.

These things are all crap -- they wouldn't be in business if the average customer didn't pay more for the warranty than they got out of it.
Posted via VolNation Mobile
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Great advice. A solid inspection, balls of steel, and scheduled maintenance should do the trick.
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#8
#8
Saab's are not the most reliable brand. Most stories relate to a lack of preventive maintenance. Don't see many on the road either.
 
#9
#9
Don't get a used car warranty, they are all rip-offs. Had a friend that got one, his transmission went out, and the warranty was voided because he couldn't prove he did regular oil changes. Total croc of ****.
 
#11
#11
I've had two after market warranties in the past. One sponsored by Volvo and one sponsored by GMAC. One bought an engine for my Volvo and the other bought an engine for my Z 28 Camaro. Obviously, worked for me but I've heard horror stories since then. It's like any insurance. You're betting you need it; they're betting you don't. They are going to win a much higher percentage of the time.
 
#12
#12
Slydell said:
I've had two after market warranties in the past. One sponsored by Volvo and one sponsored by GMAC. One bought an engine for my Volvo and the other bought an engine for my Z 28 Camaro. Obviously, worked for me but I've heard horror stories since then. It's like any insurance. You're betting you need it; they're betting you don't. They are going to win a much higher percentage of the time.
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Did you keep all of your records like oil changes, tune ups, etc?
 
#15
#15
I got both through the dealers. Don't remember the names of the warranty companies. Volvo was through Claytons in Knoxville and the GMAC was offered by Glendale Chevrolet in California. Sorry that I can't be of more help. I've considered looking for something for the car I have now but think I'll just trade up and see what's out there.
 
#16
#16
Warranty=My toolbox

Well til the electric motor goes out in my car, then i'm F#$@!#%^!
 
#17
#17
the only extended warranties that are worth having are the ones offered directly through the manufacturer and even then they may end up being a waste of money
 
#18
#18
Companies that sell used vehicle warranties are in business to make a profit, you only make a profit by paying out significantly less than you take in. The odds are you will not "win", win being defined by having a covered failure larger than the premium. Covered is the key word. Take the advice offered, get a good mechanic to check out the car, and keep it maintained.

I would pass on the Saab, expensive to repair, I had one.
 
#19
#19
Obviously the warranty (really insurance) companies are in it to make a profit and overall take in more in premiums than the pay out. That is true of car insurance, health insurance, home owners insurance, etc. It's called risk pooling.

I'm not saying these are all good but they aren't all rip-offs either. If you are set on Saab, research the most common problems then look for warranties that focus heavy coverage on those items.

There's also a term I don't recall but you can look it up but some of these warranties expressly say what is covered (bad) and others say expressly what is not (better). The latter is what you want because basically everything is covered except for what they expressly state will not be covered.

Also if you go this way determine what is more important to you; miles or time. If you don't log many miles (less than average) go for time and vice versa.

These things typically range about $2000. Two major repairs in the life of the warranty and you are about even.

Basically, it's buying risk reduction. I'm not advocating you buy one but I think the "they all suck" message here is overblown.
 
#20
#20
BallerVol02 said:
F*** it was between a Saab and an Audi
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Much, much easier to find used Audi parts than SAAB. I have an 07 SAAB 97x sitting in my body shop lot right now that needs a new right fender, liner, and other smaller parts. $$$$$ even though it's a GM vehicle.
 
#21
#21
volinbham said:
Obviously the warranty (really insurance) companies are in it to make a profit and overall take in more in premiums than the pay out. That is true of car insurance, health insurance, home owners insurance, etc. It's called risk pooling.

I'm not saying these are all good but they aren't all rip-offs either. If you are set on Saab, research the most common problems then look for warranties that focus heavy coverage on those items.

There's also a term I don't recall but you can look it up but some of these warranties expressly say what is covered (bad) and others say expressly what is not (better). The latter is what you want because basically everything is covered except for what they expressly state will not be covered.

Also if you go this way determine what is more important to you; miles or time. If you don't log many miles (less than average) go for time and vice versa.

These things typically range about $2000. Two major repairs in the life of the warranty and you are about even.

Basically, it's buying risk reduction. I'm not advocating you buy one but I think the "they all suck" message here is overblown.
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Solid post! I didn't mean to imply they suck either, but I do feel based on my experience of about 30 years of buying used cars, the odds are you spend less on repairs than the premiums. This is qualified by the need to buy wisely. If you are bent on buying higher risk vehicles, then you may be better off with the warranty, but you are better off buying a solid vehicle without it.
 
#22
#22
MG1968 said:
the only extended warranties that are worth having are the ones offered directly through the manufacturer and even then they may end up being a waste of money
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I can buy this.

VOLatile said:
Much, much easier to find used Audi parts than SAAB. I have an 07 SAAB 97x sitting in my body shop lot right now that needs a new right fender, liner, and other smaller parts. $$$$$ even though it's a GM vehicle.
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Was it the 97x or just the Aero trim (wagon) that was a re-branded Subaru? Saab body parts, anything mechanical would be a Subaru Impreza part.
 
#23
#23
rbroyles said:
Solid post! I didn't mean to imply they suck either, but I do feel based on my experience of about 30 years of buying used cars, the odds are you spend less on repairs than the premiums. This is qualified by the need to buy wisely. If you are bent on buying higher risk vehicles, then you may be better off with the warranty, but you are better off buying a solid vehicle without it.
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Nor did I. If there's any vehicle over the last 20 years that would need warranties, Saabs are one of them. I personally wouldn't bother, because I've got a nice little rainy day fund set aside for car issues, but if you do buy one, take your time reading the fine print. Maybe get a second set of eyes for it.
 
#24
#24
They're not infallible, but I use Consumer Reports' "Reliable Used Car" recommendations. Lots of data on what goes wrong and what doesn't.

Haven't led me wrong yet.

Note: My wife just loved the new VW Beetle convertibles, and I looked them up on CR and told her "You'll look really cute sitting on the side of the road in it." Her boss has one, and last week my wife had to go pick her up off the side of the road after the thing broke down on her.

I rarely get to be right with her, so I remembered that one.
 
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