banks and Online credit unions that offer warranties with their loans?

[Anonymous]

Does anyone know of ANY auto loan banks or anything of that nature that offer an extended warranty in addition to your approved loan? Is this something that is the companies do or is this just a made up idea? I want an extended warranty with the car I want to purchase but I would like to have added to my financing instead of paying two different bills on One vehicle. Can this be done? If so can anyone tell the extended warranty companies that work with loan companies. I know that if I were to be able to apply the warranty to my financing the warranty company would be paid in full and it would cost less than if I were to do payments on the warranty for their allowed time frame to pay off the warranty AND make payments on the vehicle its covering! Anyone please send your thoughts. Positivity please! Thank you!

[StartingOver10]

This is just a question for you to think about:  are there legitimate third party warranty companies? IME the warranty is only as good as the company behind it. You have to have the warranty in writing to determine exactly what is covered and what is excluded. The older the vehicle and the more milage, the more exclusions you have in your warranty. You could take those same funds and set them aside for your very own repair account.

Assuming you do find a warranty company that is legitimate and has the features you are looking for - then you can add it to the purchase price of your contract and the bank will finance it. Banks and CU's do this all the time. You may have a problem with the dealership though because they will want 'their' warranty company in the contract and not one you select. Here is a brief link on buying third party auto warranties: http://www.edmunds.com/auto-warranty/

One more link on how to get the best price on a warranty: http://www.edmunds.com/auto-warranty/how-to-get-the-best-price-on-an-extended-car-warranty.html

The dealership offers the best warranty for them (not you). It will be marked up substantially for dealer profit and commissions. Look at this thread the 4th post down from someone that sells auto warranties at a dealership:  http://ficoforums.myfico.com/t5/Auto-Loans/Alpha-Warranty-quot-Issues-quot/td-p/3327182

[Anonymous]

wow thank you so much for replying! This is great information! I never really began to think about the fact that not all warranties are legit. But the simple fact that I am interested in a brittish vehicle, I know that they can truly be a head ache as far as If repairs truly came into the picture. I think its a rather be safe than sorry thing. OFCOURSE, i wont be purchasing just some piece of crap... The vehicle history will be in order, and the previous maintance will be upkept! But I still dont want to chance anything. I Just want to be safe. any advice you could provide from that stand point?

[Slim1Der]

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@Anonymous wrote:

Does anyone know of ANY auto loan banks or anything of that nature that offer an extended warranty in addition to your approved loan? Is this something that is the companies do or is this just a made up idea? I want an extended warranty with the car I want to purchase but I would like to have added to my financing instead of paying two different bills on One vehicle. Can this be done? If so can anyone tell the extended warranty companies that work with loan companies. I know that if I were to be able to apply the warranty to my financing the warranty company would be paid in full and it would cost less than if I were to do payments on the warranty for their allowed time frame to pay off the warranty AND make payments on the vehicle its covering! Anyone please send your thoughts. Positivity please! Thank you!

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I'd have to agree with the above poster in regards to getting the factory backed warranties if at all possible. I sell these as a Financce Manager at a car dealership. I tell my customers its like going to Panda Express for authentic Chinese, it's not gonna happen. Plus you want your vehicle worked on factory trained techs that that's all they do and work on. We do still offer "aftermarket" warranties, because sometimes our manufacturer doesn't offer warranties for something like a used car with over a certain amount of miles. You may take a look at Fidelity Warrantys or a company called JM&A for those. These have the best coverage(almost identical to manufacture warranties) with just a short exclusion list AND the offer ZERO percent financing plans if you pay them off within 12-18 months with no credit check. Contact your local dealer of the brand you are interested in and ask if they sell those, or contact the company direct and they'll point you to one that does.

[Anonymous]

Yeah most extended warranties are crap. They will take your money but just read the fine print in the thick agreement and you will see that if something happens they will just say it's not covered(pre-existing) or some bs. I learned my lesson on these.

[Anonymous]

So you would not recommend getting one even with me looking to purchase a foregion vehicle?

[Slim1Der]

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@Anonymous wrote:

So you would not recommend getting one even with me looking to purchase a foregion vehicle?

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I always recommend them, especially on foreign cars. Just make sure that you request an "exclusion list" so you know UP FRONT what is NOT covered. Cross reference what's not covered with the equipment that you know your new car will have. For instance, if your car has navigation, DON"T get a warranty that doesn't cover that, as there are many out there that don't. A good exclusion list will only exclude wear items, but they are vary from provider to provider.

[Anonymous]

So as a professional, what would be your personal opionion about moving forward before purchasing a vehicle. Im looking to buy a foregion vehicle and from what Ive researched, its almost suicidal to buy without an extended warranty. Im truly not that scared to buy without warranty but Id hate for the something big to happen and The car needs an extreme amount of money put fwd. to have the neccesssary work done. I dont plan on having it too long to be honest. Id keep it for a year and a half to 2 years maybe... who knows, maybe not even that long. Maybe just a full year. Im not a hard driver at all. So far even though its not an entire year Ive only drove my car about 5500 miles lol. very light driver. what would you suggest under those circumstances?

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@Slim1Der wrote:

I'd have to agree with the above poster in regards to getting the factory backed warranties if at all possible. I sell these as a Financce Manager at a car dealership. I tell my customers its like going to Panda Express for authentic Chinese, it's not gonna happen. Plus you want your vehicle worked on factory trained techs that that's all they do and work on. We do still offer "aftermarket" warranties, because sometimes our manufacturer doesn't offer warranties for something like a used car with over a certain amount of miles. You may take a look at Fidelity Warrantys or a company called JM&A for those. These have the best coverage(almost identical to manufacture warranties) with just a short exclusion list AND the offer ZERO percent financing plans if you pay them off within 12-18 months with no credit check. Contact your local dealer of the brand you are interested in and ask if they sell those, or contact the company direct and they'll point you to one that does.

[Anonymous]

can you reccomend some good aftermarket warranties youd use for a foreigion vehicle then!? That would be so greatly appreciated.  Im new to extended warranty stuff. totally unsure of what to look for. I got some good quotes for great prices. but I havent really read them in full and DONT want too if that makes sense lol. Too much going on lol 

[Slim1Der]

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@Anonymous wrote:

can you reccomend some good aftermarket warranties youd use for a foreigion vehicle then!? That would be so greatly appreciated.  Im new to extended warranty stuff. totally unsure of what to look for. I got some good quotes for great prices. but I havent really read them in full and DONT want too if that makes sense lol. Too much going on lol 

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I would contact Fidelity Warranty Services at 1-800-327-5172. I'm pretty sure that they would send you to one of their network of dealerships that sell their waranty, and that's because with it being a used car, they want to do an inspection FIRST before they issue you any kind of warranty. I'm sure you can understand why they do this. The miles and year of your car will determine what warranty terms and milage options that you have available to you. Keep in mind, that if you have alot of miles (90k+), you might not be able to get the highest coverage warranty. But the good thing about these warrantys is that you can (and should) take them directly to the service department of your cars manufacturerer, and these service departments bill the warranty companies directly. Some cheap warranty companies make you pay up front for repairs and make you send them the reciept and they decide what they will cover and reimburse you for!