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Ok, I know this is a rather boring question but I'm wondering...

Ok, my 2004 Oldsmobile Alero has 120,000 miles on it and is paid off. Lately (past few months) I have been investing money (approx. 1,500) in fixing it up because I sort of left my car in an increasing state of neglect and I actually want to keep my car because I really don't like the idea of making any car payments. Anyway when I bought the car just about 6 years ago and the initial warranty which came with it which covers drivetrain, engine, transmission, gaskets etc is due to expire. The company offering the insurance called this evening and offered me an extention on the policy for another 5 years or 100,000 miles which includes roadside assistance, free of charge towing and a rental in the event of any breakdown either covered or uncovered on the vehicle. The idea is alluring, however, the extended warranty costs approximatly 2,000, and will be broken down into payments.

Would you take it if you were me?

Answer Question

Asked by chellebelle7486 at 8:29 PM on Nov. 17, 2010 in Home & Garden

Level 7 (197 Credits)
Answers (9)
  • I would...why not? GL

    Answer by Butterfly1108 at 8:32 PM on Nov. 17, 2010

  • no

    Answer by butterflyblue19 at 8:52 PM on Nov. 17, 2010

  • I suppose it sounds like a good deal.... but i don't understand why they would offer the extra insurance on a car that old, when you would expect to have a bunch of problems with it and stuff being replaced. i wonder if there is a catch of some sort.

    Read the contract carefully.

    Answer by at 9:36 PM on Nov. 17, 2010

  • Read the fine print and I might call the dealership you got it from to find out what they might offer first before you make a choice. I always look into stuff like that before I agree to it.

    Answer by Suzie2mom at 9:47 AM on Nov. 18, 2010

  • Thats definitely one of those sounds too good to be true type deals. I would definitely take your time and READ ALL the paperwork...but if it sounds legit it is definitely worth the money. They are probably thinking youll get rid of the car but be stuck paying them regardless IDK...since your gonna keep it it should save you money in the end!

    Answer by sweetstkissez22 at 2:15 PM on Nov. 18, 2010

  • No

    Answer by Gaccck at 9:30 AM on Nov. 19, 2010

  • Well I researched the company online and it appears they had quite a few complaints from those who had either been slammed or those whom had relatives that had been slammed with t&e same warranty offer, so I think I'm going with AAA instead.

    Comment by chellebelle7486 (original poster) at 1:55 PM on Nov. 19, 2010

  • I meant scammed.

    Comment by chellebelle7486 (original poster) at 6:21 PM on Nov. 19, 2010

  • Also, be forewarned if any company contacts you posing as your extended automobile warranty company. Mine was through Wynn's, but the company which contacted me was an entirely different company. They will offer you a policy extention of your own policy when in actuality it qualifies as a brand new policy. Be wary of giving out any bank information to them. They will try to set you up on a revolving monthly direct debit from your account. And from what I have read when you try to get them to stop the payment the debits continue. The only way to straighten out the mess is actually contacting your bank itself and disputing the deduction as fraudulent and cancelling your credit/debit card as lost or stolen. The bank can then issue you a brand new card with new numbers which prevents further debits from your account.

    Comment by chellebelle7486 (original poster) at 10:29 AM on Nov. 21, 2010

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