Direct Buy Auto Warranty Reviews
Though the company behind it has been in operation for quite some time, Olive is a relatively new entrant to the world of extended car warranties. Customers obtain quotes and buy warranty coverage online, so there are no phone waits or calls with real people involved. Olive does not require a 30-plus-day waiting period for new customers aes many other companies do. On the flip side, Olive makes a clear point about not covering preexisting conditions in cars and covering parts that fail due to abuse or neglect.
direct buy auto warranty reviews
Carchex is one of the more well-known companies in the extended warranty space. It offers five tiers of coverage for various vehicles, so there are more specific options for people with varying needs. Additionally, Carchex offers several benefits and add-ons that increase the value and convenience of its warranties. The company allows customers to choose their repair shop, and provides a 30-day money-back guarantee.
Most warranty companies do not require an inspection, which is why most have waiting periods with new policies. They want to make sure they are not being asked to pay for an issue that existed before coverage was purchased.
In evaluating extended warranty providers, we examined five key areas of service and coverage. They included customer service (as experienced in our direct contact with the companies) and reviews from existing customers, ease of filing a claim and the turnaround time of claims and payments, the breadth and cost of plans offered, overall trustworthiness by company reputation and the pricing of their offerings. Forbes Wheels surveyed 12 providers in all.
The extended warranty market has gotten out of hand. At one point the third-party market was nonexistent and the only way to get an extended warranty was to get one from the manufacturer. But the landscape has changed since the dawn of the 21st century. There are more third-party warranty providers than ever before and choosing the right one can be a daunting task. In a bid to get a piece of the action a lot of third-party warranty providers have popped up that are up to no good. In this article, we'll look at how to avoid such companies.
If the sales team is reluctant to sell you the extended warranty without disclosing details about the plan and if they insist on giving you details after purchasing the warranty then steer clear of such providers.
Always look for customer and agency reviews of the warranty providers on your shortlist. You can examine complaints lodged with the Better Business Bureau (BBB) and check google for customer feedback. Not all reviews might be as transparent or unbiased but looking at a significant number of them should help paint a clear picture of the warranty provider's credibility.
Most warranty providers will specifically mention the parts that are covered under the warranty and the parts that aren't. Most reputed companies make sure that this list is as clear as possible and easily legible to prospective buyers. But if this isn't the case and finding information even via their online channels or from customer care representatives is hard, then try and avoid these warranty providers.
Processing a warranty claim is probably the most important attribute in a warranty provider. If the process of filing a claim is and getting reimbursed for it is slow and complicated, then that makes the customer experience extremely poor. Similarly, if the warranty provider does not offer the flexibility of choosing from multiple repair shops, it is yet another major inconvenience and a limitation that cannot be overlooked.
- Walk away from fast talkers. A telemarketer pushing auto warranties is going to use high-pressure tactics to hide any faults in the product. Legitimate companies that care about protecting your vehicle will give you the time you need to make a decision and provide you with written information to reference.
American Standard Auto Protection better known as ASAP warranty officially shut shop in the first half of 2019. The reason behind their fall was their inability to fulfill the 30-day cancellation. There customer service team failed to answer any customer calls. The BBB reached out to ASAP Warranty about these complaints and also to substantiate claims of being rated the most trusted extended auto warranty program. Contact attempts went unanswered.
Now those who call ASAP warranty receive a message stating that the company is not taking any new customers and the old customers will not receive any service. The customers who purchased an extended warranty from them are recommended to contact the attorney general's office and file a formal complaint against the company.
Warranty coverage can come in handy if you don't want to spend money later or choose to purchase a vehicle that costs higher than usual to run and maintain. In cases of affordable and reliable cars, the warranties might not be as useful especially if you walk around with enough savings to cover occasional repair bills. Before buying an extended warranty make sure you evaluate providers based on cost, coverage, and convenience. Also, don't forget to compare policies and negotiate to get the best possible deal.
Research is key when it comes to picking out an extended warranty plan that best suits your needs. As we established from this article, there are plenty of companies trying to take advantage of unassuming buyers. Here's a list of criteria that you can use to evaluate a warranty provider:
When it comes to third-party warranty providers, we strongly recommend getting in touch with them to try and get the best deal since most of them will offer you a discount over the quoted price if you ask for one. Olive and Endurance are some of the best third-party warranty providers that offer the option of transferring ownership. Here's a brief review of these providers:
This brand is a well-reputed one and offers a plethora of options. There Platinum Plus warranty plan covers repair costs for both mechanical breakdowns and wear-and-tear items such as windshield wipers, fuses, light bulbs, and brake pads.
They offer coverage for cars with up to 250,000 miles which makes them a great choice for people who plan to purchase a warranty for their heavily used vehicles. They offer a wide range of policies some of which offer industry-leading claim filing processes. With an A+ rating from the Better Business Bureau, CARCHEX should be on your list when shopping for an extended warranty.
Bhavik is a petrolhead through and through who has lived and breathed cars all his life. His passion for automobiles made him an avid reader and a loyal consumer of journalistic automotive content. With triple Majors in the Fields of Journalism, Psychology, and English, he continues to pursue his passion and fulfill his thirst for automotive masterpieces by shelling out fresh automotive content for the world to enjoy.
Endurance offers FIVE different levels of warranty coverage (Select Premier, Secure, Secure Plus, Superior and Supreme) that all cover the basic internal engine components, transmission, drive axles, major electrical components, A/C, heating, cooling and fuel systems. From that Select Premier level, the plans add more components at additional cost, until you hit Supreme, which covers everything with the exception of a short list of exclusions.
Almost like a healthcare insurance company, Endurance says that it pays the repair shop directly for work performed under its warranties. The company is a direct provider, which means that they only sell the warranties that they administer.
Endurance offers warranties that cover everything from the air conditioning system to turbochargers and superchargers. Depending on the age, value, and condition of your vehicle, the company has four different warranties that come with varying levels of coverage. When a repair claim is submitted, the company will pay directly for parts and labor to the shop. The company says that its warranty coverage is accepted at any dealership and at any ASE-certified mechanic. If you are unsure about your warranty purchase, the company has a 30-day money back guarantee.
Car Talk has spent the last year doing a deep dive into the warranties industry for the benefit of our readership and long-time listeners. Our process for deciding on the best warranty companies for the year was exceptionally thorough, involving in-depth research and our unique secret shopper initiative. We compiled over 50 data points across all reviewed companies to refine and inform our selection process. Car Talk reviewed the following important criteria for each company:
Description:The FCC proposes a $299,997,000 fine against an auto warranty scam robocall operation run by Roy Cox, Jr. and Michael Aaron Jones via their Sumco Panama company, and other companies and associates
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