Hi all, I'm new here and have a 2003 Targa that I wanted to get an extended warranty for. I've looked into Easy care and United Auto Care. What looks like the best price for me is from Carchex. Is Carchex a reputable company, anyone have any experience with them?

Carchex offered a bumper to bumper Exclusionary policy
7 years
$100 deductible
prorated cancellation

Total= $3,854

This seems too cheap, anybody deal with these guys before?

Thanks,
Marc

 

I would look to see if they have a max payout. Some of these companies will not pay more than you have put in period. So if a 12k engine goes the most they would pay is your $3854.
Also, I would only buy from the company your mechanic is willing to work with.

 

The max payout is the value of the car, per repair. So if the car is worth $30K, they will pay up to that amount per repair. So you could in theory have 2 or more repairs worth $30K.

I don't have an indy mechanic yet, but the company said that they would work with anyone, to include indy shops and dealerships.

 

7 Years? Is it 7 year from the in service date or 7 years from now? What's the mileage limit? It doesn't sound right because I got a quote from them for a 02 c2 with 40K miles, it was $3300 for 2 years, 24K miles.

A friend of mine has Carchex extended warranty on his Range Rover, they have been very good in paying for repairs, over $10K in the last 6 month.

 

From the quote they prepared for me, it's 84 months (7 years) or 100,000 miles. The warranty starts the day the policy is purchased, not the date the car was purchased new. They also gave me a $650 discount as a first time buyer, and apparently it's steeply discounted per year since I am interested in a long term policy. That price is also the full upfront payment price.

Still sounds too good to be true?

 

I would buy that for sure. That makes the porsche affordable to be a daily driver for the next 7 years.

I requested a quote

 

Carchex is a broker. Not a warranty company. Most of the companies they sell have no type of track record of paying claims. You need to research the company that would be paying the claims and read all the terms and conditions and exclusions.

 

Yeah, I ended up getting a quote from them after reading this thread. They sent me a fidelity backed policy- same that the porsche dealership sells for their 3rd party warranty.

However, In the fine print covered very few electrical issues, only 2 thousand in transmission repairs, and only 4 in engine repairs. The terms were great though - 5 years, 150k miles, 2 thousand dollars. I passed based on the pay out figures.

 

Has anyone had to choose between these two plans and actually used them? MAPS is about 1/3 the price of the UAC. UAC is exclusionary and MAPS is not.

I have heard that using the right repair facility goes a long way towards getting a claim approved. Would the stealership do well in this instance as they are going after warranty money or is that the exact problem which brings in an inspector to show it is over the top and label it pre-existing?

I could give you all the details but really I just want to know if anyone has experience making claims with either one of these two, how the claim went and was the repair facility and independent or dealer. Really, really, should I shed all the cash upfront now or hang on to the two thirds?? Yes, its a 2004 CT

Thanks!