Thursday, February 24, 2005

BUYING AN EXTENDED WARRANTY?

If you're thinking of purchasing an extended vehicle warranty, a couple of "for sures", first make sure that the company who sells the warranty is the same company that is going to handle your claim. That's always a good sign that the repair will be done in a timely fashion. What is more frustrating than having a vehicle in for repairs that take days to resolve.

Another area that is generally overlooked until the time of reckoning is upon us is a "labor repair standard rate" or a line in the contract that states "reasonable labor cost, for repairs" another watch-out for is a contract that states labor cost is determined by the company and or administrator. Here is what all that mumble-jumble boils down to. If the repair facility has a labor rate of $90.00 and the warranty companies labor rate is $65.00. Guess who would pay the difference. You got it!

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