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After Market Warranty

708 Views 2 Replies 3 Participants Last post by  enraged350
I have a 2 year extended powertrain warranty from Millennium Insurance Corporation.What they did for me on my turbo replacement was find a used one for $800,and that's all they would pay.So I spent the difference and got the new part.What a load of bull sh...t.Don't waste your time and money.The dealer I was at is also fighting for a new steering box from the same insurance company for another customer.Is anyone have better luck with an other company?
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Sorry to hear that. Depending on how long ago you purchased it you may be able to get a partial refund. They can be thousands of dollars. Companies make a ton of money on extended warranties. For the most part, they are an absolute waste of money. Of course some people will say it was the best money ever spent and if I had a costly repair that was covered, I would agree. But they are the minority.Those companies are trying to turn a high profit(and they do) and paying out claims isn't the way it works. On top of that there are too many no name companies that offer them.

Remember about 10 years ago the internal document from the President of Best Buy? In it he was instructing employees to push the sale of extended warranties to consumers because that is where the profit is at even more so than in the product itself.

I have purchased one extended warranty(gap insurance) on a new Pontiac I purchased for my x wife. It was only a few hundred bucks. 6 months after the purchase she rolled it on I-95 and totaled the car. Good timing? Don't know but it may be another 20 years before I buy another.
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