mr. ed
Amarillo, Texas
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My 2019 ToyotaSienna is recently out of new vehicle warranty, and I’m wondering if any of you folks have experience with any of these businesses. I’m very skeptical about the business practices of these outfits, and would like to hear from those who use these entities, such as Car Shield.
What are your thoughts or experiences? Thanks in advance. Ed
Mr. Ed (fulltiming since 1987)
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MDKMDK
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Put your "Car Shield" premiums in a savings account, and use the money to do the repairs, when necessary. Like any other insurance company, they don't make money by paying out every claim they get. I would say "avoid".
Mike. Comments are anecdotal or personal opinions, and worth what you paid for them.
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fj12ryder
Platte City, MO
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IMO there's a very good reason to be skeptical of the aftermarket warranty companies. They make their money by taking in premium, or single purchase price, not by paying out for repairs.
Reading the fine print can result in realizing they are not a good deal. I have nothing but old vehicles and I still think they're a lousy option.
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rk911
DuPage County
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MDKMDK wrote:Put your "Car Shield" premiums in a savings account, and use the money to do the repairs, when necessary. Like any other insurance company, they don't make money by paying out every claim they get. I would say "avoid".
that's precisely what we did with our last two MHs. we took the purchase price of the offered "warranty" for our new MH in 2000 and put it in an account solely for maintenance and repairs. to that we added $X every month. we kept that MH for 15-yrs and at that time we had a significant balance in that account, a portion of which we used (+ $ saved for the purchase) to buy our current MH. my advice to the OP would be to do the same thing.
* This post was
edited 02/22/23 07:23pm by rk911 *
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mr. ed
Amarillo, Texas
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Thanks for the replies. I guess my intuition regarding these businesses was correct. My vehicle has less than 15k miles on it, and being a Toyota, I believe it won't need any serious repairs for a while. ![[emoticon]](http://www.coastresorts.com/sharedcontent/cfb/images/cool.gif "cool")
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jetboater454
Camping or home
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I have had Vanguard/Omega on both my Toyota pick ups. Both needed starters. They paid over $1000 both times including the rental and tow bill to a Toyota shop. My current,2011 Tundra is covered until 265,000 miles. About 50,000 more to go but they will extend my coverage if I want.
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JRscooby
Indepmo
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MDKMDK wrote:Put your "Car Shield" premiums in a savings account, and use the money to do the repairs, when necessary. Like any other insurance company, they don't make money by paying out every claim they get. I would say "avoid".
Do the car payments last longer than the car warranty?
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DancinCampers
Louisiana
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Ask one of your service centers which ones are good to work with.
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Skyberg01
Sioux Falls SD
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Car warranty companies are in business for only one reason and that reason is to make money. They come out ahead. Enough said.
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Cptnvideo
Arizona - most of the time
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Not only do they have to make money, but they have employees to pay, buildings to maintain, etc. All of that comes from the premiums paid.
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Arizona
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