Warranty for high mileage vehicle
Warranty for high mileage vehicle
Are there any credible warranty companies for a 2006 Infiniti M35x with 125,000 miles? I'm still under warranty but won't be when I hit 125,000. I'm currently at 114,000 now.
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Larz
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Re: Warranty for high mileage vehicle
Welcome to NICO.
More and more warranty companies are offering to cover cars with over 100,000 miles. They recognize that people in general are holding on to their cars much longer than in previous years. Also, dealerships with vehicles 80,000 miles and higher are up 20% in the last 4-5 years. Both of these trends supports the idea for offering warranties on high mileage cars.
That said, every state will have their hand in determining if a warranty company is allowed to sell policies. Your sig doesn't indicate which state you're in, but I would suggest you google for companies in your area. You will need to closely review the contract to determine what is and is not covered. I reckon the cost will be significant so make sure they are clear about what they will do, how much is your co-pay, will they pay your repair shop directly and how fast, etc. There are some warranty companies that require you to pay up front for all repairs, then you have to submit a claim to the warranty company and wait for reimbursement. I tell everyone to avoid those companies like the plague.
Another concern is will your dealer or repair shop accept your warranty company. Some companies have such a bad rep that dealers and repair shop will not bill them or will not participate in the claims process. That also leaves you out in garden with emptied pockets.
The best companies will have a contact number that your repair shop calls directly. The warranty company will then approve or deny coverage before any work is done. If approved, the warranty company gives the repair shop a CC# that will allow payment immediately instead of filing claims, etc.
The only company that comes to mind is one called Preferred Warranties. Here is a website that lists several companies. This should be a good place to start:
http://www.consumersadvocate.org/car-wa ... warranties
More and more warranty companies are offering to cover cars with over 100,000 miles. They recognize that people in general are holding on to their cars much longer than in previous years. Also, dealerships with vehicles 80,000 miles and higher are up 20% in the last 4-5 years. Both of these trends supports the idea for offering warranties on high mileage cars.
That said, every state will have their hand in determining if a warranty company is allowed to sell policies. Your sig doesn't indicate which state you're in, but I would suggest you google for companies in your area. You will need to closely review the contract to determine what is and is not covered. I reckon the cost will be significant so make sure they are clear about what they will do, how much is your co-pay, will they pay your repair shop directly and how fast, etc. There are some warranty companies that require you to pay up front for all repairs, then you have to submit a claim to the warranty company and wait for reimbursement. I tell everyone to avoid those companies like the plague.
Another concern is will your dealer or repair shop accept your warranty company. Some companies have such a bad rep that dealers and repair shop will not bill them or will not participate in the claims process. That also leaves you out in garden with emptied pockets.
The best companies will have a contact number that your repair shop calls directly. The warranty company will then approve or deny coverage before any work is done. If approved, the warranty company gives the repair shop a CC# that will allow payment immediately instead of filing claims, etc.
The only company that comes to mind is one called Preferred Warranties. Here is a website that lists several companies. This should be a good place to start:
http://www.consumersadvocate.org/car-wa ... warranties
Re: Warranty for high mileage vehicle
Appreciate that information. I will look up that link you provided. I live in Tennessee by the way. I wish I could extend the contract with the warranty company I use through Carmax.