Sponsored

Extended Warranty Talk

DaltonGang

Well-Known Member
Joined
Sep 29, 2018
Threads
74
Messages
2,789
Reaction score
3,904
Location
Houston, Tx
Vehicle(s)
2018 Wrangler JLU Sport S, Rubicon Suspension, Tires, and Rims. Firecracker Red
I have not had to use my 120 month 100,000 mile warranty yet. But, with many issues I have had, in the past, it might just be a matter of time. I purchased one, when I bought the Jeep, through Fidelity Warranty Services Inc. The Gold+ plan. It only cost $1,900 when I purchased the Jeep.
So, has anyone had dealings with Fidelity Warranty Services Inc.???
What are experiences with extended warranties, in general??
Sponsored

 

CaboJim

Well-Known Member
First Name
Jim
Joined
Sep 6, 2022
Threads
3
Messages
181
Reaction score
240
Location
Washington
Vehicle(s)
2023 Willy's
Warranty companies do not like to pay out in general. Make sure to keep your maintenance invoices. For example, you have an engine failure they are going to want to see your oil change receipts. If you cannot provide them most likely they will not approve the repairs.
 

Heimkehr

Well-Known Member
First Name
James
Joined
Sep 3, 2020
Threads
31
Messages
7,029
Reaction score
13,950
Location
Pennsylvania
Vehicle(s)
2021 JLU 2.0T
What are experiences with extended warranties, in general??
My wife insisted on purchasing an extended warranty -- technically, a service contract -- when she bought her new Honda. I was against the additional expense, but it was her money to spend as she saw fit, so...

I'm one of those guys who actually reads the fine print. While I can't speak for what Fidelity might require (key word here), the service contract for her Honda is rather prescriptive as to what the owner must attend to, and on what timetable, and how that is all proven to have occurred, in order to qualify for covered services if or when the vehicle requires them. E.g., oil changes occurring with an interval not exceeding 5K miles, and so on.

Best of luck if or when you have to avail yourself of your coverage. Hopefully there aren't any traps that Fidelity uses to deny reimbursement.
 

kah.mun.rah

Well-Known Member
First Name
Merenkahre Jr.
Joined
May 16, 2022
Threads
22
Messages
2,120
Reaction score
4,113
Location
Duat
Vehicle(s)
2021 Wrangler Unlimited Rubicon
The ones I have had in the past have had a deductible as part of the contract. When I have an issue I take it in and agree to pay the diagnostic fee. They find the problem and if they determine that it is covered by warranty, they roll the diagnostic fee into the repair cost and charge me the deductible at the end of the repair. If it isn't covered by warranty I pay the diagnostic fee and fix it myself at home.
 

AcesandEights

Well-Known Member
First Name
Aces
Joined
Aug 19, 2021
Threads
29
Messages
3,216
Reaction score
6,230
Location
So. Oregon
Vehicle(s)
2022 Jeep Rubicon 2D, with extra guacamole
Occupation
I'm often occupied, by many things, often at the same time
I used to work for one of the largest dealer networks in the US. I was a warranty claims adjuster, handling extended warranty claims.

Extended warranties seemed to be great if you needed them; however, they sell extended warranties because they cost more to the consumer than the companies selling them have to pay out (or they'd quickly go out of business). Meaning, on average, you pay significantly more for an extended warranty than you receive in benefits.

My experience was that even when something was covered, it was typically only a portion of the total cost of repair, which helped the consumer, but they were usually still disappointed they had a deductible, or a cost for fluids, or a cost for an associated part that was not covered, etc.

I guess you didn't ask this specifically, but I would never pay for an extended warranty, under any conditions. Again, the company selling extended warranties only makes money because the consumer pays more than it is worth. If you put $1,900 dollars into an account making 6% a year, you'd have almost $3,500 after 10 years. That's what the extended warranty company is doing, putting your money in the bank and counting on you not needing to use the warranty. If you do have a $2,000 repair in year 10, they've already made $1,500 even if they pay out 100% of what they took in 10 years earlier.
 

Sponsored

AFD

Well-Known Member
Joined
Oct 13, 2021
Threads
14
Messages
3,155
Reaction score
5,697
Location
Northeastern US
Vehicle(s)
2023 JL Rubicon (2DR/V6)
If you put $1,900 dollars into an account making 6% a year, you'd have almost $3,500 after 10 years. That's what the extended warranty company is doing, putting your money in the bank and counting on you not needing to use the warranty. If you do have a $2,000 repair in year 10, they've already made $1,500 even if they pay out 100% of what they took in 10 years earlier.
I'd like to know how you find an account with 6% interest! I've been using high-yield savings for a while now, and at best they're still only around 2% (and up to 3% for multi-year CDs). Money Market accounts might yield a little more, but not lately. I get your point, though.
 

Heimkehr

Well-Known Member
First Name
James
Joined
Sep 3, 2020
Threads
31
Messages
7,029
Reaction score
13,950
Location
Pennsylvania
Vehicle(s)
2021 JLU 2.0T
I'd like to know how you find an account with 6% interest! I've been using high-yield savings for a while now, and at best they're still only around 2% (and up to 3% for multi-year CDs). Money Market accounts might yield a little more, but not lately. I get your point, though.
The consolidated rate of return on my dividend-paying stock portfolio hovered at 10%. If an amateur like myself can configure that on my own time and my own dime, imagine what a team of investment specialists can put together. ;)
 

AcesandEights

Well-Known Member
First Name
Aces
Joined
Aug 19, 2021
Threads
29
Messages
3,216
Reaction score
6,230
Location
So. Oregon
Vehicle(s)
2022 Jeep Rubicon 2D, with extra guacamole
Occupation
I'm often occupied, by many things, often at the same time
I'd like to know how you find an account with 6% interest! I've been using high-yield savings for a while now, and at best they're still only around 2% (and up to 3% for multi-year CDs). Money Market accounts might yield a little more, but not lately. I get your point, though.
I have a money market account that has been doing pure shite for a short while now (probably lost all the gains), but averaged over the last two years 15% annually. That might not be the norm, but 6% seemed reasonable.
 

AFD

Well-Known Member
Joined
Oct 13, 2021
Threads
14
Messages
3,155
Reaction score
5,697
Location
Northeastern US
Vehicle(s)
2023 JL Rubicon (2DR/V6)
The consolidated rate of return on my dividend-paying stock portfolio hovered at 10%. If an amateur like myself can configure that on my own time and my own dime, imagine what a team of investment specialists can put together. ;)
Never got into stocks, thinking it felt more like gambling than investing, but 10% isn't too shabby (at least better than inflation). Wish I had the money years ago to invest in legit tech stocks like Google, Amazon, Apple, MS when they were starting off. I'm still risk-adverse, but at least more comfortable investing in companies I actually use and have some faith in their products/services.

Maybe I can find an extended warranty company to invest in 😄
 

mwilk012

Well-Known Member
Joined
Mar 10, 2018
Threads
14
Messages
8,922
Reaction score
8,747
Location
Oklahoma
Vehicle(s)
2018 Ocean Blue JLU Rubicon
Occupation
Service
I deal with these companies on a regular basis. They’re all terrible.

They pay only a small fraction of the labor, want to supply their own used parts or force the use of cheap aftermarket crap, and make a simple repair take much longer than necessary. Then they leave the shop waiting for payment for an indeterminable amount of time.
 

Sponsored

Antonio

Well-Known Member
First Name
Antonio
Joined
Jan 4, 2022
Threads
30
Messages
701
Reaction score
1,026
Location
NJ
Vehicle(s)
2022 JLU Rubicon diesel
I guess you didn't ask this specifically, but I would never pay for an extended warranty, under any conditions. Again, the company selling extended warranties only makes money because the consumer pays more than it is worth. If you put $1,900 dollars into an account making 6% a year, you'd have almost $3,500 after 10 years. That's what the extended warranty company is doing, putting your money in the bank and counting on you not needing to use the warranty. If you do have a $2,000 repair in year 10, they've already made $1,500 even if they pay out 100% of what they took in 10 years earlier.
[/QUOTE]

I get your point here, but let’s be honest one of the reasons why mopar did away with their lifetime warranty was cause jeeps have had nothing but issues over the years lately! I love my jeep and I’m not using this as to complain but my 2016 rubi was in the shop a few time that was with the V6 which is a pretty reliable engine, now I have the 3.0 and after previous experiences and the things that have happened with the 3.0 over the years I’d rather invest that $ 1,500 I paid to be covered for 8 years bumper to bumper, in the next 8 years repair cost and parts are only going to increase and not decline, so personally mopar can make all the interest they want off my $ 1,500 I’m okay banking on the fact that one decent issue in the next 8 years could cost me that $ 1,500 in repair and I’m only on the hook to pay $ 100 out of that! I’m not the kind of person that buys warranties cause we all know how they are there to make money but I’ve also been a jeep owner long enough to know some of the knowing issues 🤷‍♂️
 

MountainRigged

Well-Known Member
First Name
Mike
Joined
Jun 22, 2022
Threads
8
Messages
251
Reaction score
231
Location
76028
Vehicle(s)
Jeep Wrangler 23' JLUR 3.0L EcoDiesel
I get your point here, but let’s be honest one of the reasons why mopar did away with their lifetime warranty was cause jeeps have had nothing but issues over the years lately! I love my jeep and I’m not using this as to complain but my 2016 rubi was in the shop a few time that was with the V6 which is a pretty reliable engine, now I have the 3.0 and after previous experiences and the things that have happened with the 3.0 over the years I’d rather invest that $ 1,500 I paid to be covered for 8 years bumper to bumper, in the next 8 years repair cost and parts are only going to increase and not decline, so personally mopar can make all the interest they want off my $ 1,500 I’m okay banking on the fact that one decent issue in the next 8 years could cost me that $ 1,500 in repair and I’m only on the hook to pay $ 100 out of that! I’m not the kind of person that buys warranties cause we all know how they are there to make money but I’ve also been a jeep owner long enough to know some of the knowing issues 🤷‍♂️
That $1500 figure was a covering a JL bumper to bumper for 8 years? What year Is it, And how many miles?
 
Last edited:

TaiMc

Well-Known Member
First Name
Tai
Joined
Jun 23, 2018
Threads
9
Messages
2,038
Reaction score
3,449
Location
Houston, TX
Website
www.instagram.com
Vehicle(s)
'18 JLU Sport Mojito!, 3.6L & '18 Ninja 400 KRT
Occupation
Communications Manager
Vehicle Showcase
2
I get your point here, but let’s be honest one of the reasons why mopar did away with their lifetime warranty was cause jeeps have had nothing but issues over the years lately! …. 🤷‍♂️
Yup! They offered the unlimited mileage/lifetime warranties Added Care Plus (999,999 miles/83years) for a few months in 2018. I haven’t seen them offered since then.

But, I’m currently cashing in on mine with a new engine replacement.

Because of my experience, I’ll always buy one. My EW was well worth it in this particular case.
 

MountainRigged

Well-Known Member
First Name
Mike
Joined
Jun 22, 2022
Threads
8
Messages
251
Reaction score
231
Location
76028
Vehicle(s)
Jeep Wrangler 23' JLUR 3.0L EcoDiesel
Yup! They offered the unlimited mileage/lifetime warranties Added Care Plus (999,999 miles/83years) for a few months in 2018. I haven’t seen them offered since then.

But, I’m currently cashing in on mine with a new engine replacement.

Because of my experience, I’ll always buy one. My EW was well worth it in this particular case.
Wow after 4 years? 3.6 ?

Running that thing up mountains all day or what haha
 

Rscx4

Well-Known Member
First Name
Scott
Joined
Jul 19, 2021
Threads
1
Messages
145
Reaction score
280
Location
Tampa, FL
Vehicle(s)
21 JLUR 392
Yup! They offered the unlimited mileage/lifetime warranties Added Care Plus (999,999 miles/83years) for a few months in 2018. I haven’t seen them offered since then.

But, I’m currently cashing in on mine with a new engine replacement.

Because of my experience, I’ll always buy one. My EW was well worth it in this particular case.
I just got the 8yr 125k, a couple grand for an insurance policy. I pay that every single year for a house that never needs insurance, and I have no option. Peace of mind and hopefully never need it.
Sponsored

 
 



Top