Our Forums discussion on extended warranties started in 2003 with the question, “Does anyone know of a “reputable” company that sells extended warranties, besides GM?
Six years and almost 3,000 entries later, the discussion still rages. The most “reputable” extended warranty companies are, by and large, the automakers themselves. But there are many third-party extended warranty companies that are damaging the industry by roping consumers into bad deals or downright fraud. Through clever language and misleading mailings, they fool many consumers into thinking they’re buying an manufacturer-backed warranty. Many of their victims lose most or all of their money. Our new article, Third-Party Extended Warranty Scams, comes hot on the heels of the new FTC ruling prohibiting robocalls, itself a result of the extended warranty scams that made national headlines this spring. It illustrates the nasty tricks these companies pull, and offers tips on what to look for in an extended warranty — and when you should run in the other direction. Consider yourself warned.
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