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The story from my dealer...
Posted by Derek Gentry [Email] (more from Derek Gentry) on Thu, 4 May 2006 10:56:36
In Reply to: Yes, different administration....., Mike Lynch [Profile/Gallery]
, Mon, 1 May 2006 13:24:02
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So I just met with the "finance" guy at my dealer regarding my warranty options in buying out my lease. He was steering me rather heavily toward a warranty from Vehicle One, which would cost $2,400 and give me five years of coverage (up to 100k I think). There would be no deductible, provided I brough the car to my regular dealer for service.
I'd walked in assuming I was going to go the CPO route, but a couple things stopped me:
1. He said the special financing on CPO's was 2.9% for 3 years, but 5.9% for 4 years (which was the term I'd been thinking of, but I'd thought the rate was 3.9%).
2. He said (without looking at the car), that in addition to the $2,000 CPO charge, there would likely be at least $400 work I'd have to do to bring the car up to CPO standards...and he implied that it was quite likely it would be more than $400. (This on a car with 27K miles)
I didn't make any decisions, but I walked away feeling queasy about the whole thing. Maybe the Vehicle One warranty would be fine, but never having heard of them, I'm not excited about the idea. And if he's right about the potential repairs for CPO, then CPO sounds like a lousy option, especially since that warranty would only net me an extra two years.
It's tempting to just put the $2,400 in the bank and forget the warranties.
Ugh.
posted by 67.106.15...
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