I was thinking of buying a used Volvo S60R and thought a warranty would be a good thing to buy for it because it can be expensive to fix. Anyone know anything about Zurich car warranties? They want $3,500 for full 3 year/36,000 miles power train and electrical warranty. Is this worth it? Thanks!
Aftermarket car warranty? Is Zurich decent
- Thread starter Chris B.
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JHZR2
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Sounds expensive to me for 3/36. What Id do is figure out the cost from Volvo for an extension of 3/36 on a new car that is as equivalent as possible, and see how the services compare. Could you buy it straight from volvo for your car?
$3.5K is a lot of money. You could fix quite a few things for this much IF they break, which they may not.
Is the warranty 3 years from date of manf, 36K from new or 3yr, 36k from when you buy it? Is it a warranty that it will only fix what is stated in the contract or fix anything that isn't stated in the contract? You probably can also Google Zurich warranty reviews and see what comes up. I've had extended warranties on the last couple of cars and to tell the truth it wasn't worth it. Also check on what the deductible is each time. I didn't pay near that much for a longer warranty on either one of mine though.
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No, they are in the business of selling warranties for used cars for a profit, not to take a loss. They will screw you some how and "that isn't covered by the warranty" will happen...I have seen it happen to 2 HS friends, I don't see how anything worth 3G would break in 3yr/36k unless they boned you with a lemon to begin with.
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That price sounds insane. What percent of the used purchase price is that?
I'm sure it's a great fun car to drive. But assuming it's already 3 years old with 40,000 miles I'd say you have this 3500 dollar warranty, probably 1000 in tires at some point, and a 50/50 on a clutch that won't be covered by the warranty. So you're five grand in just maintenance/repairs for three years of driving?
Five grand can buy a pretty nice sport bike. For what you're paying just lease a new car.
EDIT... what can the dealer get you? Every time I decline any extended warranties but I always listen. Usually they start at 1000/year or so and they cut them in half when I refuse. I understand I'm not in the luxury market, but realistically it shouldn't be double the prices I'm being offered.
I'm sure it's a great fun car to drive. But assuming it's already 3 years old with 40,000 miles I'd say you have this 3500 dollar warranty, probably 1000 in tires at some point, and a 50/50 on a clutch that won't be covered by the warranty. So you're five grand in just maintenance/repairs for three years of driving?
Five grand can buy a pretty nice sport bike. For what you're paying just lease a new car.
EDIT... what can the dealer get you? Every time I decline any extended warranties but I always listen. Usually they start at 1000/year or so and they cut them in half when I refuse. I understand I'm not in the luxury market, but realistically it shouldn't be double the prices I'm being offered.
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Originally Posted By: Chris B.
Is this worth it? Thanks!
It's worth it to them because there is a good chance they will go out of business before you get anything out of them. Once their losses are greater than their profits, they go bankrupt and start over under a new name. They will occasionally pay off, but denials are frequent and some of them will require you to have a thorough car inspection before you can enroll or they will deny repairs later.
Is this worth it? Thanks!
It's worth it to them because there is a good chance they will go out of business before you get anything out of them. Once their losses are greater than their profits, they go bankrupt and start over under a new name. They will occasionally pay off, but denials are frequent and some of them will require you to have a thorough car inspection before you can enroll or they will deny repairs later.
And the CHASE is on.... You can fix a lot of stuff with 3 grand and the nice new parts belong to you thereafter. The insurance company gets to keep the 3 regardless. If you can't afford the risk of three grand in repairs, better bag this thing and buy a Toyota...IF you can stand to be seen in one.
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Originally Posted By: Kruse
Originally Posted By: Chris B.
Is this worth it? Thanks!
It's worth it to them because there is a good chance they will go out of business before you get anything out of them. Once their losses are greater than their profits, they go bankrupt and start over under a new name. They will occasionally pay off, but denials are frequent and some of them will require you to have a thorough car inspection before you can enroll or they will deny repairs later.
I think you are exactly right aboout that. Sorta like "health clubs" and their "lifetime" memberships.
Originally Posted By: Chris B.
Is this worth it? Thanks!
It's worth it to them because there is a good chance they will go out of business before you get anything out of them. Once their losses are greater than their profits, they go bankrupt and start over under a new name. They will occasionally pay off, but denials are frequent and some of them will require you to have a thorough car inspection before you can enroll or they will deny repairs later.
I think you are exactly right aboout that. Sorta like "health clubs" and their "lifetime" memberships.
That warranty is WAY too expensive, I have experience with OEM service contracts that are half that price. The best non-oem contract that I;ve purchased is through Mercury Insurance group. Very inexpensive and excellent coverage.
Originally Posted By: Kruse
Originally Posted By: Chris B.
Is this worth it? Thanks!
It's worth it to them because there is a good chance they will go out of business before you get anything out of them. Once their losses are greater than their profits, they go bankrupt and start over under a new name. They will occasionally pay off, but denials are frequent and some of them will require you to have a thorough car inspection before you can enroll or they will deny repairs later.
They're not going anywhere. It's these guys:
http://www.zurichna.com/
Originally Posted By: Chris B.
Is this worth it? Thanks!
It's worth it to them because there is a good chance they will go out of business before you get anything out of them. Once their losses are greater than their profits, they go bankrupt and start over under a new name. They will occasionally pay off, but denials are frequent and some of them will require you to have a thorough car inspection before you can enroll or they will deny repairs later.
They're not going anywhere. It's these guys:
http://www.zurichna.com/
ask the serice manager where it will be fixed if they have any experience with them.
I thought the only safe warranty companies were the OEM manufacturers
I thought the only safe warranty companies were the OEM manufacturers
I'll wait for bdcardinal to chime in, but if I remember correctly, this is one of the few cars that are very expensive to maintain in their midlife (75k) period.
Many of us would just buy a 2nd vehicle with 3.5K....
Originally Posted By: dparm
They're not going anywhere. It's these guys:
http://www.zurichna.com/
Yup. They're Swiss backed. That's where the money is.
Back to the warranty topic, I would keep looking around if you really decide you want it. We got an extended warranty on the C300 from Mercedes. It's good for 6 years and 100K miles, covers almost everything, and it was around $1600.
They're not going anywhere. It's these guys:
http://www.zurichna.com/
Yup. They're Swiss backed. That's where the money is.
Back to the warranty topic, I would keep looking around if you really decide you want it. We got an extended warranty on the C300 from Mercedes. It's good for 6 years and 100K miles, covers almost everything, and it was around $1600.
Originally Posted By: dparm
[
They're not going anywhere. It's these guys:
http://www.zurichna.com/
I'd verify that with an independent source (financial statements of the entity that actually provides the contract, etc).
If it is "the" Zurich, that's why the coverage is so expensive - they probably price it to actually pay claims.
[
They're not going anywhere. It's these guys:
http://www.zurichna.com/
I'd verify that with an independent source (financial statements of the entity that actually provides the contract, etc).
If it is "the" Zurich, that's why the coverage is so expensive - they probably price it to actually pay claims.
Ummmmm NO! I got a 60 month 100k bumper-to-bumper (minus wear items) for my wifes 04 mercury. I got it at 68k and itd good to 168k. Paid $1,800. The company in AA Auto protection. Had the same thing on the impala we had and they paid for two transmission replacements. At $1,700 each replacement, it more than paid for itself.
Originally Posted By: MuzzleFlash40
Ummmmm NO! I got a 60 month 100k bumper-to-bumper (minus wear items) for my wifes 04 mercury. I got it at 68k and itd good to 168k. Paid $1,800. The company in AA Auto protection. Had the same thing on the impala we had and they paid for two transmission replacements. At $1,700 each replacement, it more than paid for itself.
In the insurance industry, if the loss ratio is over 50%, we are not profitable. Just keep that in mind.
Ummmmm NO! I got a 60 month 100k bumper-to-bumper (minus wear items) for my wifes 04 mercury. I got it at 68k and itd good to 168k. Paid $1,800. The company in AA Auto protection. Had the same thing on the impala we had and they paid for two transmission replacements. At $1,700 each replacement, it more than paid for itself.
In the insurance industry, if the loss ratio is over 50%, we are not profitable. Just keep that in mind.
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