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Discussion Starter #1
When I bought my wife's truck a few months back, I had checked out financing rates on LendingTree and one of the Lenders was CapitalOne. I was contacted by CarChex who is affiliated with CapitalOne. The actual provider of the Warranty is Warranty America and is insured by Capital Assurance Risk Retention Group, Inc. - from the name, it seems they may be related to CapitalOne, but I don't know if that is the case.

Anyway, to extent out to 6 years/75,000 miles (with tire coverage) was about $2800 so I immediately think it is too good to be true. I asked them to send me the contract itself and I have attached it to this post. I am a bit concerned b/c if you want to take a very narrow and literal reading of the some of the agreement and some of the exceptions, it doesn't cover much. E.g., there is an exception for your failure to replace a worn part that has not failed. Since almost any part that fails will wear first, read literally, this would exclude anything other than instantaneous failure. I was also concerned that "Breakdown" is defined as a total failure of a covered part.

Anyway, although I have a lot of experience reviewing contracts and legal docs, I have no experience reviewing insurance/warranty language and I am at least smart enough to know what I don't know. Anybody out there experienced in these agreements who wants to take a look and give some feedback?

View attachment WA Full Contract.doc
 

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Discussion Starter #2
Bump. No help here?:confused:
 

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Most of those after market extended warranty's are crap except some that are sold at your BMW dealer which can be OK...also, try your auto insurance carrier...most write extended warranty's which are much better than most of the other after market companies...
 

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I have a 7/70 100.00 deduct. 100% coverage.......1,300.00 bucks. Got it at my dealer, the manager said they have had them for years NO problem at all....Tyre and wheel policy the same, no deductable....7/70....400.00 bucks.
 

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Discussion Starter #5 (Edited)
Do you have a contact there that I can call? Or maybe Santa wants to put an extended warranty in my stocking?:3:
 

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Sure call Vinny at BMW of Stratham in N.H. ...603-772-0000. Tell him I sent you...Greg or Santa...tell him you want the "SANTA" pricing !!!!
 

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Discussion Starter #7
Will do. Thanks!
 

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Sure call Vinny at BMW of Stratham in N.H. ...603-772-0000. Tell him I sent you...Greg or Santa...tell him you want the "SANTA" pricing !!!!

Hi Greg, I'm going to have to check this out too. Would definitely like to add a policy for wheels and tires as well as the vehicle for those prices. Hopefully the policy has enough widespread coverage to me in Nevada even though I didn't buy their dealership.
 

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A bit of experience-based opinion to add here, and that, in a word, would be 'caution'.

With the exception of such an agreement from your dealer, the odds that the warranty firm will still be around in 5 to 7 years are likely slim. Combine that risk with the obligatory fine print. I say this having been burned in the past (by disappearing companies). That business is tremendously profitable at the expense of many a victim. An agreement from the dealer (at a reasonable premium over the "who-are-you" outfits) is worth it IMO.
 

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Discussion Starter #10
A bit of experience-based opinion to add here, and that, in a word, would be 'caution'.

With the exception of such an agreement from your dealer, the odds that the warranty firm will still be around in 5 to 7 years are likely slim. Combine that risk with the obligatory fine print. I say this having been burned in the past (by disappearing companies). That business is tremendously profitable at the expense of many a victim. An agreement from the dealer (at a reasonable premium over the "who-are-you" outfits) is worth it IMO.
I defnitely agree and that was one of my concerns with Warranty America. The underwriter (who called me when I told the sales guy I had some questions) claims that they are one of the biggest warrranty providers around. When I asked for their credit rating and that of the company providing the guaranty, he told me he didn't know what it is.ouich I am pretty sure the flushing sound I heard was his credibility (assuming he had any) going right down the toilet.
 
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