Best Aurora Warranty Coverage???

[StEaLtHyUfO]

There are Automotive warranty companies out here that will sell you a warranty and want your money. I wanted to get your opinion on this one special offer I came across. This company wants to offer me a 3 year 36,000 aurora finance free. The catch is like this...$135.00 a month for 18 months and $235.00 down payment! I have the option to bring it to any ASE certified mechanic or dealership. The coverage per the contract covers almost everything!!! ENGINE, TRANSMISSION, TRANSFER CASE, DRIVE AXLE, ABS, BRAKES, MAJOR ELECTRICAL INCLUDING SENSORS, STEERING, AIR CONDITIONER, COOLING SYSTEM, SUNROOF, POWER WINDOWS, JUST ABOUT ALL SWITCHES. IF you want to keep this car its expensive and this is a warranty that is to good to be true based on the contract and this company has been around for 56 years. Also the reason i was offered this much coverage was because the ride is under 69,200. One major repair on this car could cost more than the full amount of about 2,600 more or less! Any better deals? Sounds good what do you think? Thanks and much appreciated!

[dsatt12]

I see you are from NYC. How much does a mechanic run per hour for you? That might make that warranty really attractive indeed.

As for me, I think it would have been something close to a wash. I don't think I quite added up to $2600 in repairs in the first 3 years I had my 95. It's probably not an issue for a lot of poeple, but I also would have burned through that 36,000 miles in under 2 years. It sure seems like I've fixed pretty much everything that commonly gets brought up here, and a lot of it was done by me for enjoyment, but I have a decent idea of what I saved. It's bragging rights to trot out for the wife to let her know how much she should appreciate me ignoring her in favor of the Aurora

I also don't think that a truly prohibitively expensive problem is all that likely. Aside from some relatively well known design issues like the oil leaks with the engine, and the solenoids and/or VSS with the tranny, both of those are quite reliable. It's just that a lot of the other stuff that goes out is pretty expensive on these babies.

So in the end, I'd have to say only under some circumstances is it likely worth it. If you have to pay more than the $50-$60/hr rate that mechanics seem to go for around here, that could add up pretty quick. Also, if you just really don't want to work on this yourself at all, then I'm quite sure you could make it pay between the labor and parts markup for all those repairs. If you don't mind tinkering some- maybe not. I for example did the shocks, brakes, fixed a misfire issue (though a shop diagnosed it), and battery, but sent out for the a/c, alternator, radiator, VSS in the tranny, and some other smaller stuff that disabled the car (all that over 5 years, not 3 BTW). My best guess is that in the first 3 years I had it, I spent something closer to $2100 in repairs.

I also look at it as that company wouldn't offer that warranty unless statistically they were fairly sure they will make money on the deal. They have had about 10 years of repair data to track that off now too.

[oldsdad]

I also had a warrenty offer that sounded too good to be true and it was. They also said that all switches and electrical was covered when I got the documents and read them over it didnt cover half of what they said over the phone, and their total payout on the car was controled by the resale value of the car at the time of the repair. Needless to say after reading very careful and checking with the people that would do any work to see if they would accept the payment arrangement major credit card or bank draft (several wouldnt) I returned and canceled. My best advice is read VERY CAREFULLY and check with who will do any work.BUYER BEWARE!!!!!!!!!!!!! no one else will

[Letitroll98]

These warrantys are all total and complete rip offs. They are nothing but a profit generator for the dealership when sold there. The dealer pays about $150.00 and sels it to you for hundreds or thousands. $2600 for a three year warranty? Ok, they have you pay in advance for repairs they may or may not cover? And this $2600 is paid by every policy holder? Since they can't expect major repair on every policy holder, are they trying to tell you the AVERAGE repair is $2600 minus a normal profit?

Figuring out if a warranty is too expensive by assuming worst case senario and comparing the price is poor business sense. Amoritizing the company's exposure to loss over the total policyholder's revenue would reveal they should be charging you a couple hundred. What jerks. Glad you caught on b4 it cost you a bundle.

[dsatt12]

I think the only package deal I've ever been happy with was some gap insurance I got on one of my wife's cars. We got a 60 month loan on a used car to keep our payments as low as possible. For $5 a month we got insurance that would pay off the loan if she cracked up the car and we owed more than it was worth. She did and they paid- not bad for $60 a year in my book. One other neat thing is that if I go back to that credit union they give me $1000 for repeat business (over $12,000 anyway) and I get another $1000 credit for having that gap insurance and not using it- though we can forget that obviously. I guess that shows the value of investing and interest if they are willing to give me $1000 for $300 of premiums over 5 years.

[Letitroll98]

Oh yes, gap insurance is another matter entirely. I'm in the collections business and have done a lot of auto deficiency work. When a total loss is involved, this most often arrives because of a lack of gap insurance. In simple terms it covers the difference between what you owe on the car and what the insurance company actually pays for. Since most people are "upside down" on the car loans because they put nothing down and extend the terms for 60-72 months, this is a very good, no, manditory, option to go for at the dealership. Quite different than the rip off for sale warrentys.