DriverZedge Used Car Warranty

[RC]

Anyone with any experience with this Company or thoughts on buying a warranty for a used car? Just bought an older SUV with high mileage and would like to keep it for some time. Car is in great shape, one owner, mostly highway miles. Covers engine, transmission/transfer case, water pump and seals and gaskets. Person we bought the car from is suggesting this company. They will sell a 5 year 100k warranty for just over $1,000. One of the stipulations they have is that you must change your oil every 4k miles. If not, they can use that to deny you coverage on a claim. Thoughts?

 

[DECK SWABBER 58]

Re: DriverZedge Used Car Warranty

Be Careful. In the past a lot of warr. companies went under due to lack of capital to honor claims. Will they still be around in 4 yrs. ?

Imho not worth $1000.00. If this vehicle has been gently used and well maintained odds are it will not have major problems. A warranty would make more sense if you had no prior history of the vehicle.

 

[Gary H NC]

Re: DriverZedge Used Car Warranty

Just watched a news special on these so called warranty companies.
NOT worth the money!
They will usually find an excuse to not pay any large claims.

The news folks checked with the BBB about many of these companies and all had terrible ratings.

For a thousand bucks i would stick that money in the bank for future repairs.

 

[kend301]

Re: DriverZedge Used Car Warranty

I am a Service Manager at a car dealer , Be very careful here , As has been stated sometimes it is very hard to get a claim paid . They will deny a claim based on some very "iffy" circumstances. Like engine sludge will be called pre existing and they will deny the claim despite oil changes. I have seen transmission claims denied due to aftermarket tires and wheels. Also call and see if they pay the repair shop rate for labor , have had a bunch that try to cut our labor rate in half , customer is responsible for the balance. Also check how they pay the repair shop , If it is by check you can plan on paying up front and waiting for the check to come to you . They also have the right to send an inspector out to verify the shop findings , this can tie up your car for a day or two , Some will provide a rental some will not . I have never heard of this company either .

Do ALLOT of research prior to buying one . At 1,000.00 it is very inexpensive as far as warrantys go that scares me !

 

[thefairlaneman]

Re: DriverZedge Used Car Warranty

The odds of getting your moneys worth from this so called warranty are slim.I bet it would take 2 lawyers and a microscope to read and inderstand the fine print you will for sure find in the "contract" ..I say save your cash and KNOW what you are buying in a used car.

 

[PiratePast40]

Re: DriverZedge Used Car Warranty

I've had good luck with a third party warranty on a used Mercedes. The company was "Route 66". The warranty was originally provided through the credit union when the PO bought the vehicle. I had the warranty transferred and it was a major part of deciding to purchase the vehicle.

Have used it twice now. Once for a wiper motor and transmission replacement and again for an alternator replacement. The shop dealt with them directly and they were paid promptly. The original purchase price of the warranty was $3600 and covered up to 100K miles (total - not additional).

As with anything, would be a good idea to see exactly what it covers before you commit. I think it also depends on who is selling the warranty. If it's through a financing organization, they have more at stake since they are servicing their own customers as well. In this case google is your friend, and as allways - buyer beware!

 

[RC]

Re: DriverZedge Used Car Warranty

Along with all of you I have also talked to my neighbor who was a service manager for Ford and the manager at the shop I take my cars to. Both said pretty much what you all said. But the guy at our shop did say it may be a good idea but shop around and do research. We'll pass on this company but will do some research on some others and see if there is anything worth while out there.

 

[mscher]

Re: DriverZedge Used Car Warranty

Don't remember the Company names, but we had at least two on two different cars, over the years.

One paid $250 for a new alternator on a Sentra and another paid $2500 for a remanufactured transaxle on a Camry. No problems with the payments.

Like most other insurance. Sometimes they pay for themselves, if you DON'T need them.

It's very important how many years/miles you get OVER what the vehicle already has, for the money.

If it a lower reliability or very complex vehicle (like a hybrid) that is extra expensive to repair, it could money well spent.

 

[kenmyfam]

Re: DriverZedge Used Car Warranty

Anyone with any experience with this Company or thoughts on buying a warranty for a used car? Just bought an older SUV with high mileage and would like to keep it for some time. Car is in great shape, one owner, mostly highway miles. Covers engine, transmission/transfer case, water pump and seals and gaskets. Person we bought the car from is suggesting this company. They will sell a 5 year 100k warranty for just over $1,000. One of the stipulations they have is that you must change your oil every 4k miles. If not, they can use that to deny you coverage on a claim. Thoughts?

My 2 cents,
Don't go near aftermarket so called warranties. You pay a deductible, the "diagnosis" (teardown charge) they will buy the 50 cent seal and the diagnosis charge is usually enough to cover the re-assembly as well. The glossy brochures pointing at everything they say that is covered are very impressive but the small print is very small and well worded.
Be careful, be very careful.
There may be some decent ones out there but I have yet to find one other than the manufacturers extended warranty on their select used vehicles.

 

[DJ]

Re: DriverZedge Used Car Warranty

There is NO such thing as an aftermarket warranty. It's an insurance policy. It's only as good as the Compamy it is written on.

The same rules apply if you are insuring a house a person or an auto. As stated, pre existing conditions can be used against you.

Personally, I am a fan of OEM service contracts. It helps me plan for ALL repair costs. If figured over the life of the vehicle, the cost is minimal. Plus, one makes it up on resale. A no brainer. OEM that is.