Purchasing an extended warranty is a big ticket item for most people. You want a company that will respond quickly, treat you fairly and pay the claims. Every company out there claims that their customers are number one; but we all know that saying it doesn’t necessarily make it so. Below are three tips that will help separate the best companies from the fly-by-nights.
1. The best way to evaluate a company’s commitment to service, is the most direct way. Ask the company for the names of dealerships that they have done business with, (not a local garage or independent) call several, and be very specific. Ask how quickly any claim was resolved by that company and how professional they were in resolving the situation. The service director knows the good and the lousy companies.
2. Another way to evaluate a company’s attitude and sense of fair play is to ask for a copy of the contract prior to signing. You will be surprised at how many companies are unwilling to let you see what you are really purchasing up front.
3. Lastly, beware of companies that try to pressure you to buy with threats of rising costs or huge discounts that are ending tomorrow. Reputable firms do not use these tactics. Reputable companies that intend to remain in the business use actuaries with mountains of statistics to produce their rates and those statistics do not change daily or weekly.
Using these three simple tips should go a long way in helping you to effectively evaluate the companies that you are considering doing business with.