Wells Fargo Extended warranty advice?

[jster171]

Want to see if anyone has this coverage or has had any dealings with it. This is the first time we have bought a (new to us) vehicle. We are buying from a very reputable dealer and they are offering this extended warranty. I have ALWAYS been skeptical about extended warranties on ANYTHING and this sounds to good to be true. Its titled "Warranty Solutions", from Wells Fargo. Its there "5 Star Wrap Coverage". Dealer says its bumper to bumper for as long as WE own the car. This is a 2012 Expedition Limited that is replacing our 2002 Expedition that we bought brand new. So if we keep the new one as long as we have had the old one, it would likely pay off. I will attach pics in a bit of the card that lists everything that IS covered. Cost for this is $2995.00

 

[jster171]

Scan one, may have to save it to your PC then open it to zoom in.

 

[jster171]

Scan two, may have to save it to your PC then open it to zoom in.

 

[Blown 89]

I don't know anything about that warranty but never in a million years would I ever do business with Wells Fargo.

 

[Torch10th]

Any time I've had an extended warranty on a used vehicle and needed to have something done, it was always a complete pain in the ass. Undoubtedly there are some good warranties out there, but keep in mind that many warranties sold through dealerships are just holding companies that are designed to take in revenue and do everything in their power not to pay it out.

With that said, I have a coworker that had a warranty through Firestone on his previous grand cherokee. That car was probably a lemon early in it's life and was constantly in the shop. He never had any trouble with that warranty.

What I'd do is actually call them and talk to a representative to get the feel on how the company runs. Do you get somebody on the line quickly? Are they in this country or in India? You can learn a lot about a company just by talking to them sometimes.

 

[jster171]

Any time I've had an extended warranty on a used vehicle and needed to have something done, it was always a complete pain in the ass. Undoubtedly there are some good warranties out there, but keep in mind that many warranties sold through dealerships are just holding companies that are designed to take in revenue and do everything in their power not to pay it out.

With that said, I have a coworker that had a warranty through Firestone on his previous grand cherokee. That car was probably a lemon early in it's life and was constantly in the shop. He never had any trouble with that warranty.

What I'd do is actually call them and talk to a representative to get the feel on how the company runs. Do you get somebody on the line quickly? Are they in this country or in India? You can learn a lot about a company just by talking to them sometimes.

I agree, gonna call them now.

 

[MeanGreenBoss]

I don't know anything about that warranty but never in a million years would I ever do business with Wells Fargo.

^^THIS^^ I had a home mortgage with them and they were totally incompetent. Their auto warranties may be managed differently, but I would never recommend WF to anyone.

 

[CobraBob]

At the bottom it says, "5 Star Wrap is an exclusionary contract. These are some example of covered parts. Please see your contract for specific exclusions and details of benefits."

ALWAYS read the fine print. In this case you most certainly need to read over the specific EXCLUSIONS, and benefit details.

 

[MysticRob]

Always shop around for warranties too! A dealer charges what it wants so guaranteed they're making money off this product. It's also much better to go with the manufacturer's warranty if possible. And again, shop around for that manufacturer's warranty. There's a dealership out east (from me anyway) that I remember was 100s of $$ cheaper than the same Ford warranty I was looking at locally.

 

[nryan5714]

I agree, gonna call them now.

jster171, did you end up going with this warranty?? I was offered this when I bought a 2010 Toyota Camry Hybrid.

 

[LS2GTO]

Only extended warranty I would ever trust and/or pay money for is one directly offered by the manufacturer itself. I will never touch a 3rd party company, especially one from Wells Fargo.

Those are always hit or miss and you never really know what shops you can go to to have the work done. At least with a manufacturer warranty you know you can just take it to a dealer and be done.

 

[KurtDog]

I'm not sure about the Wells Fargo warranty. But $3k seems really high.

I paid $750 for a Ford Premium Care warranty for 6 years 75k miles on my new 2013 F150 when I bought it.

You might want to cancel that one and shop around and save some money.

Edit: Just saw this thread is really old, so nm then.

 

[4u 2 nv]

Like someone mentioned the best are usually through a manufacturer. I sell about 40-50 ford ESP warranties monthly and to date have never had a single person have an issue I can recall.

Also...not all can "charge" what they want. In florida it's a set price...period. No adjustments.

 

[jster171]

jster171, did you end up going with this warranty?? I was offered this when I bought a 2010 Toyota Camry Hybrid.

Yes, I did. I bought the vehicle from a VERY VERY reputable local hometown used car dealer. The salesman offered it to me, no pressure. We tend to keep the "family vehicle" for 10+ years, so we figured this might come in handy down the road. Before agreeing to buy it, I took the paperwork home and studied on it. I also went to the local Ford dealership and talked to the service manager about it. He was very familiar with it and has dealt with Wells Fargo before with this warranty with no issues. Then, I called Wells and talked to an associate. I wanted to see how quickly I could get someone on the phone and how knowledgeable they were about this product. All of that went well, so, I bought the warranty. To date, I have not had to use it though, sooo, thats the kicker. We will see how good it really is if/when I ever have to use it.

 

[4u 2 nv]

Always try to buy from a dealer that deals in that brand. At a ford dealer that would have been a CPO unit, Prob get 1.9-2.9 interest rate, would come with an extra year/12k bumper to bumper warranty AnD have a 7/100k power train warranty being a cpo. CPO warranty extensions are also very cheap. I sold a 8/100k bumper to bumper yesterday for $1700 ($100 deduct, free rental, free tow).