General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsJust curious, has anyone ever had a "CarShield" warranty that actually paid for car repairs?
They run those TV ads constantly with paid spokespersons Ice Tea and Vivica Fox, who don't come cheap, and neither does the airtime...the ads must be paying off with new, unaware-or-it's-a-possible-scam subscribers.
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Wonder Why
(7,031 posts)brush
(61,033 posts)churning through new, unaware subscribers for their fees that they use for airtime for the ads and paid spokespersons...what's left for a profit?
I googled that Vivica Fox gets 500k and I imagine Ice Tea probably gets the same.
If so, there must be an awful lot of gullible vehicle owners out there.
WarGamer
(18,613 posts)But my entire adult life I thought Pet Insurance was a scam...
And then I spent around 20k on my dog with cancer treatment...
Next pup got a policy at 6 months of age. Started around $44/mo and ended up around $82, 7 years later when he passed away (breed has short lifespan even without health issues)
The big guy had an MRI and 3 surgeries... over 25k in care and the insurer paid 90% after deductible.
The only "catch" is that you have to pay out of pocket then wait 2-4 weeks for a check.
brush
(61,033 posts)WarGamer
(18,613 posts)
Raine
(31,179 posts)I've had to pay out plenty for vet expenses with my dogs and cats. It's good to know that it can be worth while. 
DemocraticPatriot
(5,410 posts)but the medical care costs seem to be insane now, from what I hear..... from you and elsewhere
so I forbear, believing they would be better off with someone else....
Maybe a cat, I don't mind cats.... and I presume there are way too many of those....
And they are less demanding of attention....
keithbvadu2
(40,915 posts)Many disqualifiers not mentioned in the ads.
Even true for dealership products.
The dealership only sells them. They do not back them up.
(related articles on the side of the page)
brush
(61,033 posts)
TwilightZone
(28,836 posts)Not necessarily; it depends on the dealer/brand/vehicle, etc. Some dealers may only offer extended warranties that are supported through the original manufacturer, similar to how the original warranty works. For example, a Mercedes dealer may only have Mercedes-supported extended warranty options available for Mercedes vehicles and not offer any third-party options. The terms of those warranties are usually similar to the original warranties.
Third-party warranties are a different story, of course, and can vary widely, but the type of warranties sold by dealers is not universal.
keithbvadu2
(40,915 posts)
montanacowboy
(6,714 posts)in the ads is you have to wait a period of at least 1,000 to 2,000 miles additional on your mileage indicator BEFORE coverage begins.
So you can't take out the insurance and have a major failure the next day. I don't drive much so it's not worth it to me to take it out at about $100 - 150 per month depending on what plan you choose. I think they are legit it's just that time period when you pay and are not covered at all.
MichMan
(17,151 posts)Otherwise people would just wait until they had a major mechanical issue, and then sign up for it.
No insurance would permit that.
calguy
(6,154 posts)I mean, tge guy's obviously a master mechanic. I've seen it on TV. And the way he drops that wrench on the floor, hey, if that doesn't make you want to sign up for a warranty you'll probably never use, well....
Oopsie Daisy
(6,670 posts)* which "warns" customers that they do not accept CarShield.
I asked what that was about, and they explained that it was too time-consuming to spend time on the phone with them to pre-authorize coverage/payments. Instead, if a customer has CarShield, then they'll need to file their own claim after the fact... or use the shop's repair quote and work it out with CarShield on their own.
Emile
(42,293 posts)
ProfessorGAC
(76,706 posts)We've lived in our house since 1987. Never had a claim. So, all the homeowners insurance money was a loss. But, it's stupid to be uninsured. It's just a cost of owning a home. And, if something bad does happen, you're not wiped out.
These car plans are similar. Pay now in case something big goes wrong. But, if nothing big goes wrong, those premiums would probably pay for lesser things. It's a risk tolerance thing.
I don't know how hard or easy it is to work with them. If it's really burdensome, and there are too many "ifs" as to what gers covered & how quickly, that creates some doubt.
There are probably some more on the up & up than others. I never looked into the details.
brush
(61,033 posts)and the other posts.
ProfessorGAC
(76,706 posts)I can believe it, though. The commercials come off as hard sell. Lots of preying on fear.
cloudbase
(6,270 posts)1.3 stars, so caveat emptor.
WhiteTara
(31,260 posts)
ecstatic
(35,075 posts)but I don't know if they pay or not.
Edited: A couple weeks ago after seeing their outrageous ad, I looked it up on Youtube so I could send the link to my sister. A lot of Ice T fans in the comments on the video but not one person shared any input on whether it was legit or not.
FHRRK
(1,410 posts)WHAT THE FUCK IS ICE-T DOING THESE COMMERCIALS FOR!!!!!!!!!!!!!!!!
Same with Tom Selleck for Reverse Mortgages.
How fucked up is it to make millions that scam people.
dalton99a
(94,140 posts)Put your money in the bank instead.
Kingofalldems
(40,279 posts)
Niagara
(11,857 posts)I don't purchase extended warranties due to the fact it's a waste of money. I would say CarShield makes money off of fear.
Back in the day, I lived in a state where we didn't have mandated state inspections on our vehicles with window stickers saying that we had done so. I still had regular vehicle maintenance done such as 3,000 mile oil change, tire rotations, check fluids like coolant and brake, inspect belts and hoses. I always had my vehicle looked at right before I took my family on vacation to make sure it was road ready.
Today, I live in a state where we have mandated inspections once a year. Today's oil changes (for me anyways) are 5,000 miles, so my vehicle doesn't get looked over as often as I like it to. I have a beloved and trusted mechanic that treats me fairly. A person knows when they find that special mechanic and I've found mine. Not all mechanics are good or fair, especially to women and I remind him of that all the time.
Anyways, I think I got off track a bit, but what I wanted to say is that a good mechanic will let the costumer know there's potential vehicle issues impending or that needs to addressed soon. There should never be "my engine just died" or "I went through so and so's house because my brakes suddenly went out". Those issues would be from lack of preventative maintenance.
I believe that people should put aside money in their own bank account every paycheck for vehicle maintenance and repairs. Because my vehicle is going on 14 years, I've already socked away a little over $300 in the month of January for future vehicle maintenance and repairs. I'm not paying any multi million dollar company to deny me claims for stuff that I paid them to cover.
brush
(61,033 posts)
LiberalFighter
(53,544 posts)Stupid making it seem like a medical examiner doing an autopsy.
VMA131Marine
(5,270 posts)you would be far better off just putting that money in a separate account and letting it accumulate.
brush
(61,033 posts)
doc03
(39,086 posts)who's lifetime, you or the car. What is considered a car's life. I do know one person that had their transmission go out
and the dealer claimed the car wasn't properly maintained. I forget now what it was but it was something that had
nothing to do with the transmission, like worn tires or an engine air filter.