Posts tagged with: extended warranty

JINX

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Are you superstitious? I’m typically not.

But yesterday as I was typing up a post about mending holes in pants and being mid-way through a No-Spend week, I swear I felt a little bit like I was jinxing myself. I ended the post with this one sentence:

Fingers crossed there are no disasters and nothing crazy comes up! (knock on wood)

I swear I felt a little tingle in my tummy, and the hairs on the back of my neck stood up. It was like when someone is behind you and you can *feel* them without actually seeing them. I brushed it off at the time. But I sure did remember the feeling at 6:00pm that evening as I was driving home from work, when my car started dinging a million warnings and the power steering went completely out on me.

Luckily, I was able to safely navigate into a parking lot on the side of the road. I was able to call hubs to come get me, and everything was fine (no one got hurt, no accidents, etc.)

BUT. So much for that “no spend” week.

The silver lining of the story is that I still have an extended warranty on my car! Remember when I just had to use it for the first time this past summer? At the time I said I should probably cancel the warranty afterward because, honestly, who ends up using it more than once? Statistically speaking, I thought we were in the clear. We should cancel the warranty after the service and take whatever refund we were owed (since we had bundled the warranty with the car loan, it has already been paid in full).

I am now SO GLAD we didn’t! I was able to use our Roadside Assistance through our car insurance (we use and love Progressive!) to have the car towed to the dealership for the warranty repair work. I’ll also be able to use a loaner car, also covered by the warranty company, for up to 7 days. There’s a deductible that applies (it’s either $200 or $250, can’t remember at this point), but I’m sure that’s MUCH better than what I might end up paying otherwise (there’s some issue with the power steering, advanced trac, and also some warranty backup camera issues that were unrelated but will get repaired at the same time).

It’s still a huge inconvenience. Last night was a mess – super late dinner for the kids, no baths, late to bed. And this morning was tough too – with only one car we had to take the girls in early so hubs could get to his own school classes. I’m at home waiting for the tow truck (which is currently running late) and then I’ll be getting picked up by the rental car company so I can go get a rental for the week. Obviously totally interfering with my work day and I’ve had to cancel some meetings and move other things around. I’m frustrated we aren’t going to be able to have a no-spend week after all and I’m still stressed about spending extra money given our tax situation (in fact, one of the meetings I had to move from this morning was supposed to be a meeting with our CPA).

But even with the annoyances and inconveniences, I’m BEYOND GRATEFUL I still have this extended warranty and that it’s still in effect. Guys – it expires at 125,000 miles and I’m at 120,000 miles right now. This is HUGE!!! I don’t know what the total vehicle costs will end up being, but I’m thankful that my personal liability is limited to just the deductible.

Now…is it the weekend yet??? Ooof!!


Extended Warranty to the Rescue!!!

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Back when we bought our new-to-us (then only 1-year-old) car, we added all the warranties on top of the sales price and financed it all together.

Remember, this was back before any debt-reduction mission or such. After listening to Dave Ramsey, I’ve now learned that the majority of extended warranties are a total waste of money (disclaimer: I don’t blindly believe everything Ramsey says, but I do believe this one).

Even so, when we finally paid off the car this past January I never took any steps to cancel the extended warranty so I could be reimbursed for the pricey policy. I just paid it off and went on about my life.

Fast forward to this month. Out of nowhere, we’ve experienced some random electrical issues. Unfortunately, a lot of the car’s displays are electronic. At this point, the entire dash is out. That means I cannot control A/C, we have no radio, there’s no time display, no backup camera, and more. Though most of it is just an inconvenience, some of it actually poses health and safety hazards. For instance, I’ve been driving my girls around this week and they’re crying in the backseat that they’re all sweaty (here in Tucson we’re still over 100 degrees every day). The A/C was on when the dash electronics went out, but it was set to low. Without the electric display, I have no way to change the A/C to be higher or lower and the heat is so all-encompassing that it literally feels borderline-dangerous to be driving the kiddos around without proper air.

After calling a couple shops and discovering that this is most likely a dealership issue (= $$$), I remembered that we had bought an extended warranty that specifically covers the electrical components on the vehicle.

“There’s no way the warranty is still effective”, I thought. We’ve owned the car for just at 3 years now, but we’ve already hit over 100,000 miles. I was imagining the warranty was probably nullified right around the 3-year and 100,000 mile mark.

So, imagine my surprise (and joy!) when I called and discovered that the extended warranty actually covers up to 5 years or 125,000 miles!!! We’re still under warranty, baby!!!

The other issue is that when I was calling around to shops, I was not only stressed about the money, but also the logistics. From what I was told, vehicle electrical work can take quite awhile. So either I’m stuck at the mechanics shop all day, or they can bring me back to my house. But that means it has to be a day we have the babysitter (because they can’t transport me + 2 kids in carseats). However, I’ve already determined that it’s tough to work while the kids are at home. So…stuck at the mechanics shop, then?  I know this is total 1st world problems and not really a big deal, but these are the logistics I’m grappling with. HOWEVER, our extended warranty (purchased through CarMax) includes FREE LOANER CAR while they’re doing the repair work!!!

They’ve said they may need to send the car to the dealership (which sounds likely after speaking to several local mechanics shops), but either way CarMax still provides me with a loaner. PLUS, I’ve had 2 recall-related issues pop up within the past few months that I’ve been putting off forever. So I can actually get those issues handled as well. All for $0 out-of-pocket.

My appointment is scheduled for next Thursday so I still don’t know the full amount of time it will take or even the full scope of what the issue is and what needs to be done to repair it. I’m just happy that this dumb (and super $$$) extended warranty is coming in handy! And, I may be wrong, but I believe I could still cancel at any time and receive a partial reimbursement for whatever time is remaining in the warranty. So there’s a chance I may get this stuff taken care of, then cancel the warranty in a month or so, and still end up with money leftover! I don’t want to get my hopes up (because I don’t know for sure if they’ll do partial reimbursements), but it’s an exciting prospect.

Three cheers for an extended warranty that actually came in handy and hopefully saves us some money!

What are your thoughts on extended warranties? Do you buy them? Why or why not?


I’m actually using an extended warranty!

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Last August I bought a new washer and dryer and for reasons unknown at the time, I actually bought the $95 3-year extended warranty.  It is a GE product and I think I bought it at the time because Steve had moved out taking his washer and dryer with him and I needed all the peace of mind I could buy.  Well, isn’t it ironic that here we are a year later with an instant replay of Operation Move Out and my 1 year, 3 week old washer has a major leak?!  The manufacturer’s warranty expired at the one year mark and while I may have been able to make a very good argument for GE to step up to the plate, it is nice to instead just have the plan in place.  The repairman will be here today between 8 and noon.

This may not sound like a big deal but having this warranty was a little shot in the arm, so to speak.  I can’t say that I have ever bought an extended warranty on an appliance so this is feeling great!  I hope it is a quick fix that can be taken care of today because I’m a laundry junkie!   In fact, the entire laundry thing is such a focus right now b/c it was such a major point of contention with Steve.  As the days go by and clarity continues to come, I am glad that I do not have to try to figure out what the laundry rules of the day are!  The little things!  :-)