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Author Topic: Vehicle extented warranty!  (Read 739 times)
CountryBee
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« on: September 19, 2010, 07:21:54 AM »

When I bought a used car yesturday the salepeople really tried to push the guardian car extended warranty, which I declined again.  Does anyone know how much they get for each one they sell?  It must be a lot, the policy costs $1499.00 for any vehicle and only lasts 3yrs/38,000miles.  I figured the saleperson that sells one probably gets 20% maybe?  Any thoughts?  Thanks, Country Smiley
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AllenF
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« Reply #1 on: September 19, 2010, 02:15:22 PM »

Don't know.   Call them up and ask them how much they make.   I am sure they and the dealership both get paid.   
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AliciaH
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« Reply #2 on: September 19, 2010, 03:40:41 PM »

How much do they make?  The dealership makes quite a bit!  My dad used to sell cars.  Now do the math on inflation because this was 20+ years ago, but the dealership he worked for paid $90-$100 for an extended warrenty policy.  Whatever the sales guys got for the policies was up to their negotiating skills...$200, $350, $500.  Anything went.  How much of that the sales person he/she themselves got, I didn't ask. 

He's always told me that an extended warrenty on a new vehicle was a waste of money.  He did say that getting one on a used vehicle depended on the age/shape of the vehicle (common sense).  His point, though, was that the cost should definately be negotiated.
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AllenF
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« Reply #3 on: September 19, 2010, 05:08:49 PM »

Not bad, sounds like easy money, if I was some what of a salesman. 
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asprince
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« Reply #4 on: September 19, 2010, 05:58:26 PM »

Extended warranties are nothing but insurance policies. They do not have to be purchased from the dealer at the time of sale. Shop around, and read the fine print. I have mixed feelings as to their value.

Steve
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AllenF
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« Reply #5 on: September 19, 2010, 06:09:09 PM »

That reminds me, when my wife bought her last car, the man tried and tried to sell her the extended warranty.   She told him no, she did not need it, that was why she was buying a Honda.
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CountryBee
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« Reply #6 on: September 20, 2010, 06:23:16 AM »

I drive a honda motorcycle grin  Thanks for the info on the warranty.  They always try to play on your fears and scare you into one, it didn't work with me.
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