GWC auto warranty is a scam ?

[SeaJay]

Ain't those extended warranties great. Pay once, and never worry about paying for repairs ever again.

When sold they sound great when the sales person describes them. When the car needs repairs later on, not so much.

 

[Gimpy1]

Ain't those extended warranties great. Pay once, and never worry about paying for repairs ever again.

When sold they sound great when the sales person describes them. When the car needs repairs later on, not so much.

Thats why it is so very important to read the entire contract first. The salesman can tell you anything they want all they want is the commission, just like insurance agents they can/will tell you everything is coverd with out looking at the policy. Its up to the buyer to read the contract and decide if its worth it.

 

[Hall]

Ain't those extended warranties great. Pay once, and never worry about paying for repairs ever again.

I see TV commercials for them now where they are promoting them like insurance ! Pay your "premiums" monthly (or annually, etc) for coverage. From what I see on other 'forums', many, many people consider these as absolutely necessary to buy though I'm afraid that all they see is the monthly payment for the vehicle with these protection plans rolled into them and if they can afford that payment, it's all good to them.

 

[Chris142]

Thats why it is so very important to read the entire contract first. The salesman can tell you anything they want all they want is the commission, just like insurance agents they can/will tell you everything is coverd with out looking at the policy. Its up to the buyer to read the contract and decide if its worth it.

When we bought our FJ the sales people really tried to get us to buy that $3000 worthless policy. The finance lady went as far as basically calling me a fool for not buying it.

 

[Gimpy1]

When we bought our FJ the sales people really tried to get us to buy that $3000 worthless policy. The finance lady went as far as basically calling me a fool for not buying it.

Yea, I'd be willing to bet not one of the sales people has read and understood the warranty contract.

 

[Andrew1972]

The dealer could care less about the coverage just a believable product they can sell at maximum profit.

 

[1978elcamino]

It is in fact, an insurance policy. No different than someone going to the emergency room and a group of physicians tell you they need to do an MRI or CT, then some blood work and labs, a few x rays and then determine what is wrong with you. After the conclusion, they tell you what type of treatment you need, Rx's or operation will make you well again. Once you're walking out the door the fight with the insurance company begins.
This is same thing with most "extended warranties", you hope it will be covered and it in fact might be.

 

[SeaJay]

Thats why it is so very important to read the entire contract first. The salesman can tell you anything they want all they want is the commission, just like insurance agents they can/will tell you everything is coverd with out looking at the policy. Its up to the buyer to read the contract and decide if its worth it.

The salesman will try to sell it to you on the spot, and typically you do not get the contract until you sign on the dotted line. These salesman are insulted if you want to first read and understand the contract before you sign, they will infer that it is a sign of stupidity not wanting to immediately sign up for this expensive insurance contract.

Like any insurance contract it is written in legalese with terms of included and excluded repair costs, deductibles, conditions, etc. and takes quite a bit of time to read and fully understand. The average buyer will likely need to read it a couple of times to fully understand what it is they are buying.

Most buyers of these contracts never bother to read the contract and wait until it is needed before they contact the warranty folks to figure out if their repair is covered or not. Sadly, not all expectations are met when the rubber meets the road.

 

[Gimpy1]

When we bought our FJ the sales people really tried to get us to buy that $3000 worthless policy. The finance lady went as far as basically calling me a fool for not buying it.

Yea, I'd be willing to bet not one of the sales people has read and understood the warranty contract.