honestly, they're just not worth the hassle/headache and the constant worrying if they will pay if the car breaks down.......
I've looked into these myself, and the going rate is about $80 for 60 months and
$100 deductible for EVERY claim filed,
that comes out to be a $5000 (5 year) contract ! AND there's no promise that they will pay every claim. It's like a bait and switch,
first quote is like $3000 total in 18 months payment with mileage restrictions BUT then somehow it becomes 5 years ($5000).
The industry is unregulated and it's like the wild wild west. Just google and you must do your own due diligence, it's all online.
AND it's a PITA to cancel or get a refund.
Better off to save the $5000 in the next 5 years yourself by automatically depositing your $80 into your own savings account (raining day fund) and just drive current car until the wheels fall off and fix whatever needs to be fixed as they come up using your own raining day fund (which has NO DEDUCTIBLE and NO HURDLES hahah LOL it's your own money in the bank, the trick is having the discipline to saving the $80 every month and not touching it). BUT that's what going to happen if you sign up for one of those 3rd party companies, they don't care if you have discipline or not, they're going to get their $80 every month no matter what.
or trade in and put the (trade in price + $5000) towards a later model CPO with warranty.
In essence, extended car warranty companies are "raining day funds" BUT they're banking that people won't use the money. And if they do, there's a $100 deductible right off the bat for any claim filed then have to jump thru hurdles to get the money.
Also, think about what happens if you DON'T file any claim ? You're still on the hook for $5000 ! I don't think ANY car repair will come close to that unless BOTH your engine and transmission fail at once., which is unlikely.
sorry for the caps but I can't stress this enough :
PLEASE BE FORWARNED, ALL 3rd PARTY AUTO WARRANTY AGENTS ARE THE PUSHIEST SALESPEOPLE EVER
once they get your name and phone number and even the slightest hint that you're interested, they will call you day and night until you sign, no joke.
http://www.yelp.com/biz/endurance-warranty-services-chicago
http://www.edmunds.com/auto-warranty/third-party-extended-warranty-scams.html
But if you're still interested in one, here are some websites that lists them from best to worst but I still wouldn't do it,
Endurance is where I got the quote from $80/month for 5 years
http://extended-car-warranty-services-review.toptenreviews.com/
http://www.bbb.org/chicago/business-reviews/auto-warranty-processing-service/endurance-warranty-services-l-l-c-in-northbrook-il-88077689/
