The lawsuit should have been for more $

[OR VietVet]

Yet another reason why I have always said: Stay away from extended warranty companies.

CarShield ordered to pay $10 million federal settlement over deceptive repair coverage ads

CarShield, a company that sells vehicle service contracts to automobile owners that it claims will cover the cost of certain repairs, has agreed to pay $10 million in a settlement with federal regulators over charges that its marketing tactics were deceptive and misleading.

www.yahoo.com

 

[Tonyv__]

Yet another reason why I have always said: Stay away from extended warranty companies.

CarShield ordered to pay $10 million federal settlement over deceptive repair coverage ads

CarShield, a company that sells vehicle service contracts to automobile owners that it claims will cover the cost of certain repairs, has agreed to pay $10 million in a settlement with federal regulators over charges that its marketing tactics were deceptive and misleading.

www.yahoo.com

I trust no one… my opinion on warranties are that they’ll do anything in their power to not pay anyway.

 

[OR VietVet]

I trust no one… my opinion on warranties are that they’ll do anything in their power to not pay anyway.

ANY insurance company has one business motto: Keep as much money as possible.

 

[Doubeleive]

that's a slap on the hand
always read the fine print
you can rest assured no customers will receive a single red cent of that fine, it all goes in the gov coffers.

 

[swathdiver]

I am my vehicle's warranty. I refuse to be held hostage to the fear of a warranty being cancelled or denied because I work on and modify my own vehicles as I see fit.

 

[NoReverseYukon]

Sounds like you can't trust the BBB ratings either.

 

[adventurenali92]

I’ll never buy another “aftermarket” extended warranty. When I bought my Denali I paid for an extended warranty on it, less than a year in, my transmission kicked the bucket and it was supposed to be covered in the warranty. My Denali ended up sitting close to 6 months while I battled the company trying to get them to cover it. They wanted me to pay for a full transmission tear down, to figure out what exactly failed before they would even decided if it was covered. I said absolutely not…. Not paying for a tear down just for them to tell me it wouldn’t be covered. I ended up filing a fraud claim with my credit card company that I’d used to pay the warranty so I got the money back on the warranty because the credit card company found that the warranty company filed for bankruptcy….. go figure…. Thankfully I was able to use the money I got back on the warranty to be able to pay for a transmission rebuild.y opinion is that aftermarket extended warranties are a total scam no matter what….

 

[OR VietVet]

I’ll never buy another “aftermarket” extended warranty. When I bought my Denali I paid for an extended warranty on it, less than a year in, my transmission kicked the bucket and it was supposed to be covered in the warranty. My Denali ended up sitting close to 6 months while I battled the company trying to get them to cover it. They wanted me to pay for a full transmission tear down, to figure out what exactly failed before they would even decided if it was covered. I said absolutely not…. Not paying for a tear down just for them to tell me it wouldn’t be covered. I ended up filing a fraud claim with my credit card company that I’d used to pay the warranty so I got the money back on the warranty because the credit card company found that the warranty company filed for bankruptcy….. go figure…. Thankfully I was able to use the money I got back on the warranty to be able to pay for a transmission rebuild.y opinion is that aftermarket extended warranties are a total scam no matter what….

Correction, Any extended warranty is not worth the money.

 

[Tonyv__]

I’ll never buy another “aftermarket” extended warranty. When I bought my Denali I paid for an extended warranty on it, less than a year in, my transmission kicked the bucket and it was supposed to be covered in the warranty. My Denali ended up sitting close to 6 months while I battled the company trying to get them to cover it. They wanted me to pay for a full transmission tear down, to figure out what exactly failed before they would even decided if it was covered. I said absolutely not…. Not paying for a tear down just for them to tell me it wouldn’t be covered. I ended up filing a fraud claim with my credit card company that I’d used to pay the warranty so I got the money back on the warranty because the credit card company found that the warranty company filed for bankruptcy….. go figure…. Thankfully I was able to use the money I got back on the warranty to be able to pay for a transmission rebuild.y opinion is that aftermarket extended warranties are a total scam no matter what….

All around just bad bad news. We can probably talk about this topic for days.

I was sold an aftermarket warranty when I bought my first financed truck. 100% my fault for not reading everything that I signed. The finance guy just kept boasting about the awesome payment he was able to get for me. Slipped in a warranty without ever verbally discussing it. I signed the 100 pages that they throw in front of you. Noticed the following day that I was charged like 3k for the warranty. I called the dealer immediately and they told me that it was a done deal and can’t be refunded. So my next call was the warranty company directly, they told me I could cancel for a full refund within 30 days. I went for that but the refund just rolled back into my loan.

I never got to experience how bad they probably would have been, but it doesn’t help that the dealer would sneak it in and lie about the policy.

 

[OR VietVet]

All around just bad bad news. We can probably talk about this topic for days.

I was sold an aftermarket warranty when I bought my first financed truck. 100% my fault for not reading everything that I signed. The finance guy just kept boasting about the awesome payment he was able to get for me. Slipped in a warranty without ever verbally discussing it. I signed the 100 pages that they throw in front of you. Noticed the following day that I was charged like 3k for the warranty. I called the dealer immediately and they told me that it was a done deal and can’t be refunded. So my next call was the warranty company directly, they told me I could cancel for a full refund within 30 days. I went for that but the refund just rolled back into my loan.

I never got to experience how bad they probably would have been, but it doesn’t help that the dealer would sneak it in and lie about the policy.

At that particular time, armed with the info the warranty company gave you, I would have paid a visit to the dealer and they would have paid me a bunch of money, just to leave and not talk so loud for every customer in there to hear what was going on. I am an old veteran, I just don't care.