*FEELER* Who would buy an extended warranty...

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jtesensky
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...on factory replacement parts they buy? They all come with a 12K mile 12 month but I want to know what you guys think about purchasing extra years of coverage. Please share your thoughts!


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elwesso
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So lets say someone bought a Q45 injector for a 90-93 and it went out in a year, it would normallybe covered? So with this, we could have the same thing for say 2 years?

That would certainly be nice for things like transmissions just for extra security...


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jtesensky
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elwesso wrote:So lets say someone bought a Q45 injector for a 90-93 and it went out in a year, it would normallybe covered? So with this, we could have the same thing for say 2 years?

That would certainly be nice for things like transmissions just for extra security...
Yes, it would be like purchasing an extended PARTS ONLY warranty from Best Buy or Office Max. If you were to purchase a full rail of injectors, purchase a 3 year extended warranty on them you would be covered (parts only). So if they would to go out on you 2 1/2 years into it you would just go online with your original purchase info, fill out a form, & we would send you the new injectors for free (We would have to do an OHM reading to make sure they were really faulty).

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elwesso
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Thats very intersting Joe I assume this wouldnt cover wear and tear items like rubber stuff, shocks, brake components (except calipers maybe), and things like that...


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jtesensky
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We're still ironing that out, maybe so. Nothing like lifetime brakepads!

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Jesda
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I'd be interested on items like fuel pumps, injectors, and transmissions.

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rsiwicki
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Geeze.....Now I thought I have heard of everything until this one with regards to Extended Warranties. Sounds like a cash cow for both the warranty company and the seller. The parts are already really damn expensive to begin with and now they want to offer you an extension for additional $$$. I priced these extended warranty rip offs for a living about 5~6 years ago for 9 months (2nd or 3rd largest warranty company) and got the hell out of that business and went back to reinsurance forecasting catastrophe losses vs warranty claims.

I know a lot about these extended warranties and here is the general run down that applies to all extended warranties whether it be appliances, computers, cars.

For ExampleRetail Costs: $100Reailer gets 50% of the retail sales price with sales associate either getting a fixed dollar amount or percentage of the 50% as an incentive (hence easy cash cow for retailer with no overhead)Warranty Company receives the other 50% to cover claims, profit, and administration of warranty claims and selling of product)

You the purchaser of a warrantyYour part breaks down....now the process of filing a claim. You call to let them know part does not work. They usually require documentation and verification of how the part broke. Depending on their claims control process you will either have to send in the part to an authorized service center to make sure part is faulty or have a warranty authorized mechanic verify the problem. This costs time and monies while you and your car wait to see if it is verified. I don't think Joe's department will be handling the warranty claims calls & reimbursement administration (could be wrong but would be highly unlikely). On the smaller items, most likely they will authorize automatic replacement of the part when your "refurbished" part arrives you send back the old part and then the warranty is automatically expired even if you have another year remaining because they replaced the entire part releasing them from any further obligation and trust me...they will at all costs try to find the cheapest replacement part available and only at last resort supply a 100% new OEM part.

Things like transmissions, etc. is where this warranty would get touchy as they would need it diagnosed for failure first and then most likely only authorize a rebuild or replacement of the part that failed, not the entire transmission.

Similar with items such as differentials....auto warranties use to just replace the entire differential but now they got smater and make "you" find a specialty driveline shop that will take apart the differential to find the part that failed all on your own initial costs and then only after it is determined to be a covered failure will they reimburse you for the cost of the tear down and replacement of the part. Makes people just say WTF and buy a whole new differential assembly since no dealer will tear down a differential.

Take it all for what it is...but extended warranties are not what they use to be and are now VERY restrictive after you read the fine print and how to get a claim authorized and processed. Joe and his warranty sales rep probably hates my a$$ right now but I dealt with those MF sales people every week for 9 months and they all will love to tell you what ever you want to hear to so they can get the account and make their monies.


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Man, talking about hitting a sore spot.... Great input Rob. The idea behind extended warranty is so wonderfully great, it's just having to jump through the many hoops to actually process the claim that irratates me as well. Injectors, fuel pumps, sensors, rubber boots bought with shocks and such would be great to have covered under an extended warranty from JOE only IMO. Depending on terms and conditions. Joe is a reputable parts king in my book and I would never think of getting it from anyone else. I would however have to see conditions.

My bet is I'd have to take the part to "authorized" agent accepted by the Warranty company who doesn't know Joe etc... So I'd have to live in Phoenix for this. Unless being a NICO member can account for some fast track process, I'd be hesitant due to living on the other end of the country.

Would be great if it could really work like it's name makes you think it will.

red

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Ive bought warranties at Best Buy for my audio stuff. Ive used that same 4 year warranty for almost every part I bought.

It was well worth the money. But for car parts Im not so sure.

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jtesensky
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We would actually act as the warranty provider, it would all be in-house.

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Expensive things like AT, FPCU. Knock sensors, shocks, starters, alternators, body control modules

Your lunch could be eaten by 90-93 [even 94-96]injectors, fuel pumps.

As long as you price by increments: 2,3,4 years and 24, 36, 48 months.

How do you confirm mileage from afar? Old part must be returned and you need to add and monitor serial numbers

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jtesensky
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It would be time only, no milage. We wouldn't be looking to make a ton of money on this deal. It would be a idea where the current warranty sales would pay for the current claims. It would almost act as an insurance plan, in a way. We as a dealer need something to increase the value of our parts. On april first many of these parts made huge price increases, we are just thinking of ways to keep selling the parts by adding a value charateristic, but something that is tangible.

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redmanfx
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So I'd have to mail the parts back to you before I get the replacements? Need to know since I'm on the other side of the country. How about an East Coast expansion dealership!! I'll be an investor.

red

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elwesso
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redmanfx wrote:So I'd have to mail the parts back to you before I get the replacements? Need to know since I'm on the other side of the country. How about an East Coast expansion dealership!! I'll be an investor.

red
Red, technically speaking you and myself are already solid investors!!

I agree about that though joe.. For those of us that dont live nearby, this probably wouldnt be worth the extra down time, if we had to send a part back, confrim the claim, and then you send us a new one.... I dont see that being feasible at all.. plus, after a year of driving I tend to forget about those things and just replace it again!


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I just remember how estatic I was that I paid $1000 for an extended warranty too 100K/7 years and received almost $11,000 worth of after 60/70k work .............net $9,000 corrected for inflation!

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jtesensky
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redmanfx wrote:So I'd have to mail the parts back to you before I get the replacements? Need to know since I'm on the other side of the country. How about an East Coast expansion dealership!! I'll be an investor.

red
We would charge you again and when we received the faulty part back we would credit you. The shipping would have to be pre-paid on your behalf. This usually isn't an issue if you are using a credit card & not a debit card, it most likely wont even hit your statement if you send the bad one back quick enough.


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