What’s that? Don’t have an extended warranty? Not sure if you do? I’m sure you’re getting the same constant phone calls and junk mail that we are. While we can’t do anything to help you end all of the incessant ringing, Mike Pastorelli, our in-house auto-buying expert is here with a few tips to help you determine if the person (or flyer) you’re dealing with is legitimate.
We have all seen the memes going around on the internet and heard the late-night talk show jokes about the non-stop phone calls everyone has been getting regarding our vehicles’ warranties. I personally get at least one call (if not more) every day on my cell phone. It seems completely out of control. If you have ever had the unpleasant experience of chatting with one of these callers for any length of time, then you know that they are just trying to sell you a warranty themselves. Those who are unfortunate enough to purchase one of these warranties will find they don’t cover nearly what the caller will tell you that they do. In fact, few people are able to successfully make any kind of claims at all with these warranties.
The nice thing about the calls (if anything positive can be found) is that they are usually pretty easy to pick out as a scam, once you know what to look for. An actual manufacturer calling about your vehicle or any warranty you may have purchased would begin the call by telling you what company they represent. They would know your name and what kind of car you drive. The calls we receive so often are typically recordings, and they don’t give any detail about what company they are calling on behalf of, what type of car you are supposed to own, or the length of the warranty that is “about to expire.” There is a very easy remedy when you find yourself faced with one of these calls and you’re unsure what to do – just hang up. If you do have an extended warranty that you had purchased and you’re concerned that there might be an issue with it, it is still best that you hang up and contact the company that issued the warranty using the contact information they gave you with your paperwork. If you don’t remember whether you have a warranty, call the dealer who sold you your vehicle and they will be able to look that information up for you.
If the phone calls weren’t enough to try to sort through, these warranty peddlers are now also contacting us by mail. I get phone calls from members on a fairly regular basis, asking about flyers or letters they’ve received that say their warranty is about to expire. Some of them are even made to look like they came from the manufacturer! Next time you receive one of these mailers, take a close look at it. You’ll notice that there is fine print on it somewhere. These companies are required to print on their flyers that they are not the car manufacturer or dealership. You can simply throw all of these cards away. Remember, if you already have a warranty and you’re concerned – look up the phone number or email of the issuer of the warranty for yourself and contact them to be sure.
The moral of the story is this: know your warranty status. First, know whether or not you have an extended warranty. If you do, know who issued it and how to contact them. Arming yourself with this information will make ignoring those calls and throwing away those “urgent notices” much easier. And remember: if you don’t have a warranty and you’re worried about your vehicle, or you’re wondering if it would be a wise purchase for you, you can call any of our lenders and they will be happy to help you find a coverage that is right for you.