We bought an extended car warranty from our Toyota dealer. We go got 2
used cars from them, both Pathfinders. The company is Signet Financial
Group, Western Region. The extended warrany covers the same items
originally covered by the manufacturer. It does not cover wear and
tear on the parts, just original defects.
One car is an '07 has about 20K miles on it and takes the car out 5
years past manufacturers warranty at 15K miles per year. The other is
for an '03 with 70K miles on it. It goes for 4 years at 12K miles per
year. Both cost 2500 each. They "threw in" a refund clause that states
that if you do not use the warranty, you can get the full amount of
money back if you file within 30 days of the last day the warrany is
over (I imagine most people do not meet this tight and oft forgotten
deadline) Toyota dealer said the warranty on the 03 was a particularly
good deal and that I should not cancel this.
I am questioning whether we should have purchased these. I am told we
have 30 days to back out of the warranty. I feel that the extra $5000
is a bit high and that maybe we could have gotten a better deal.
1) Anyone know anything about Signet and how can I find out about its
rating score?
2) After $70K miles, how much of repairs can be attributed to
defective parts as opposed to wear and tear. Instinct tells me most of
the parts and labor at this point is wear and tear.
3) What other relaible companies give good deals on extended car
warranties?
Any and all advice welcome.
Deb
