I bought a 97 blazer 2 years ago. It had 70K on it when I bought it so I figured I would invest in an extended warranty since I could get one for 1K and I was already upside down on the the truck as it was.
Go to use it yesterday and when the garage called to get a repair authorization there was a recording on the phone that mentioned “liquidation and some shit about the Cayman Islands”.
Warranty is no good.
Lost 1K on that, and had to drop 400 to fix my steering.
Dealership can’t do shit about it because I live in a nother state now and they just sell the things.
www.sceadmin.com details the meltdown of this shitbag company known as National Warranty Corp.
My warranty was underwritten by this company, but my warranty said it was from “Smartchoice 2000”
They’re not the only ones. According to this site, a company called Warranty Gold has also been dragged into bankruptcy by the collapse of National Warranty. That website provides some tips for staying away from bad extended warranty plans, but given the history, buying one looks like a crap shoot.
Take the money you would have spent on the warranty, go to Vegas, and play blackjack. If you get lucky, you’ll end up with enough money to pay for repairs when you need them. Your odds of coming out ahead are probably pretty similar.
You had me diggin’ for my warranty. I purchased it through the used car dealer from whom I purchased my car. And no, I did not do any research on the company before forking over ~$2000.
They’re a little bit like baby insurance companies. Expect another economic ka-boom in this sphere.
My parents had two cars insured under Warranty Gold. It was a really super deal before it went under. Now I believe they are involved in the suit to get at least some of their money back.
Dad has a superfast little Contour; Warranty Gold helped him replace the engine when it petered out.