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Discussion Starter · #1 ·
Heed warning when pressured to purchase third-party extended warranties and maintenance plans w/ your new Subaru. I was rushed through a couple options with the finance manager at the dealership we purchased our Ascent from. Leaving details out for now, I settled on both an extended "bumper-to-bumper" plan and a maintenance plan, to the tune of over $1800 that would get factored in to our monthly payments. I thought he did a decent job at explaining the details of both, signed my name on the line and that was that. Upon thinking about it further, I decided to go back and actually look at the exact details of both (which I had to find on the internet, no paper copy of such was ever passed on to me)....only to find out that the "bumper-to-bumper" plan is absolute garbage. The maintenance plan was crap too after factoring in the length between recommended service intervals. So long story short, I feel absolutely duped and yes I'm completely aware it's my fault for not reading everything in detail before signing. I'm pointing out my shortcoming in hopes that nobody makes the same mistake I did.


Both are through "Fidelity Warranty Services, Inc" out of Deerfield Beach, FL.


The warranty plan is called "TERM CARE SELECT." I attached a snippet to this post highlighting the covered parts, but here's the full details if you want a really good laugh... http://jmtc.info/T8773


The maintenance plan is called "CAR CARE SERVICE PLAN."


After doing some extensive reading on both, I'd highly advise you to stay away from these if you're offered. Unless of course you like throwing your money away.



I'm in the process of trying to obtain a refund for both, and will post an update if anyone cares, lol.
 

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It's kinda like home warranty. There's an optimal time and deceptive way to maximize the claim but it's a lot of work. It's kinda like computer programming - If Then Else - with a whole lot of loops.
 

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I never buy the extended warranty. Here's why. Of the 10 vehicles I've purchased, I've needed a warranty once. It was a $1500 repair. So rather than pay upwards of $1000/vehicle I instead just pay up for the rare occassion when it could have been helpful.

$1000 * 10 vehicles = $10,000
$1500 for 1 repair

Net to me, $8500!


Oh and also, as soon as the finance guy starts pushing saying you need the extended warranty, I turn around and say, "So what you're telling me is this vehicle isn't reliable and I shouldn't buy it?" Shuts em right up.

On my Ascent I told them up front I don't want any warranty and I was in and out of financing in 15 mins. Paid cash after 2 vehicle trade ins :D
 
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Discussion Starter · #4 · (Edited)
Yeah, definite bad move on my part. Wish I had researched all the info on here prior. In the back of my mind I wanted some sort of additional coverage due to the Ascent being a new design (unknown long-term issues). I drive vehicles till the wheels fall off, so extended warranties make sense to me.



I'm currently seeking out the Gold Plus plan from Subaru. I'm aware of the guy everyone mentions on here from a certain dealer, and have already contacted him.
 

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Usually you have a 30 day grace period where you can get a refund on the warranties as long as you haven't used it. Check into it..... you may be lucky!
 

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I'm in the process of trying to obtain a refund for both, and will post an update if anyone cares, lol.
Good move and good luck!


Rule #1: Never buy anything from the finance department that you haven't studied in detail beforehand.

Rule #2 Only consider extended service contracts from the Manufacturer of the vehicle. And, check pricing before you go to pick up the car. Know what (if anything) you want and how much it should cost. Apply the same diligence you did when you figured out how much you should pay for the car.


I am constantly amazed by the willingness of some folks to spend really big bucks on stuff they know very little about. It is time to put the emotions of getting a new vehicle aside and put your cheapskate hat on. Don't fall for it!
 

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You will receive a full refund of the warranty and the maintenance plan when you request it from the dealer, BUT the refund will be credited to your loan unless you paid cash for the car and/or the warranty. Unfortunately your monthly payments will stay the same, but you will pay off the loan a few months sooner.
 

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I never buy the extended warranty. Here's why. Of the 10 vehicles I've purchased, I've needed a warranty once. It was a $1500 repair. So rather than pay upwards of $1000/vehicle I instead just pay up for the rare occassion when it could have been helpful.

$1000 * 10 vehicles = $10,000
$1500 for 1 repair

Net to me, $8500!


Oh and also, as soon as the finance guy starts pushing saying you need the extended warranty, I turn around and say, "So what you're telling me is this vehicle isn't reliable and I shouldn't buy it?" Shuts em right up.

On my Ascent I told them up front I don't want any warranty and I was in and out of financing in 15 mins. Paid cash after 2 vehicle trade ins /forum/images/smilies/biggrin.gif
It’s also about peace of mind. Insulating yourself from potential risk.

Do you have home insurance? That’s about minimizing risk in the event of water, tree, fire, etc. I hope I never have to use it but I’m sure glad it’s there.
 

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I also refuse any of the stuff finance guy sells. Hate it when they say to me your car is an investment and you need xyz to protect it...blah blah blah. I then reply, "car is never an investment, investment increases value over time, a car depreciates once I drive it off." That will usually shut them up. I do not buy warranty to "protect" a liability. A home/real estate is an investment so I will buy insurance to protect it.
 

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Don't make my mistake... advice

I am wondering about the gold plus warranty myself. Can someone give me more info on the person referenced who sells the policies at a reduced rate? Also I thought the policy was good for what is needed from an oil change to a repair:/
 

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This is the guy that many people on these forums have been pointing to:

Luke Corcione
Financial Services Manager
Main: 203-252-2222
Fax: 203-252-2139
Off: Thursdays and Sundays

He's referenced many times in many threads, but it's getting hard to find them all –*I typed the following into a google search box since the search functions on this site don't work for me anymore: 'luke site:ascentforums.com'.

He's at Stamford Subaru.

Keep in mind that the "Gold Plus" warranty plan doesn't cover maintenance. There is a separate pre-paid maintenance plan that some dealers sell. There is of course a whole separate debate about whether pre-paid maintenance plans are worth it.
 

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It’s also about peace of mind. Insulating yourself from potential risk.

Do you have home insurance? That’s about minimizing risk in the event of water, tree, fire, etc. I hope I never have to use it but I’m sure glad it’s there.

Yes, I have home insurance and car insurance but that is a different animal. You are protecting against damage and theft, not component breakdowns.



But I do not buy a home warranty when I buy a new house as that is again the same thing. You get minimal coverage for a non-trivial fee. They make their money because it is better for them.


If the extended warranty PREVENTED my car from breaking down, that would be a different story. But if my car does break down, I still have to get it towed, get it repaired and be without a car while it's done.



But as I mentioned before, financially it's better not to buy it (unless you are buying some really crappy unreliable cars).
 
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Home warranty is a joke most of the time and the only extra insurance i'm going for is long term heath insurance as i've seen too many people get their life savings wiped out in a few short years by not having it. $5,000-8,000 a month can wipe your family's inheritance away real quick.
 

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One of my favorite 3rd party warranty moments:

I had a 2010 Ford Focus and purchased some sleezy 3rd-party warranty. Ah to be young and naive.

Anyway, the chrome on the front grill started bubbling up and peeling off. I asked the dealership to replace the grill during a visit for another problem. When I went to pick up the car:

Adviser: "We got everything finished but the warranty company denied the claim for the grill"
Me: "I don't follow. How could they deny that?"
Adviser: "They are saying they are not obligated to replace it since it's a wear item"
Me: "That's interesting. How often should I be changing my front grill? I'd like to stay on top of that"
Adviser: "......."

I actually do it now so when the finance person starts their spiel I just say up front, "I don't do 3rd party warranties". Some will stop there but a few have attempted to explain why their warranty "isn't like that" and is backed by the n'th ranked top tier company in the whole country that would NEVER screw over a customer. I just repeat "sorry, no 3rd party warranties" and continue to do so until they give up.

My dad does it best though:

Salesman: "You really SHOULD buy a warranty sir. These are VERY complex machines"
Dad: "Oh, you're selling me a piece of junk?"
Salesman: "Oh NO NO! This is one of the best out there!"
Dad: "Oh ok good. I should be good to go then"
Salesman: "I should stress though that IF something goes wrong, it will be VERY expensive to replace"
Dad: "Maybe I shouldn't buy it then"
Salesman: "Oh NO! It's a great thing - it is!"

etc.
 

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Yes, I have home insurance and car insurance but that is a different animal. You are protecting against damage and theft, not component breakdowns.



But I do not buy a home warranty when I buy a new house as that is again the same thing. You get minimal coverage for a non-trivial fee. They make their money because it is better for them.


If the extended warranty PREVENTED my car from breaking down, that would be a different story. But if my car does break down, I still have to get it towed, get it repaired and be without a car while it's done.



But as I mentioned before, financially it's better not to buy it (unless you are buying some really crappy unreliable cars).
I think we can both agree that we're trying to insulate ourselves from financial "shock" with the warranty, and yes, your home is an investment. The point I was trying to make is that since a vehicle is a machine, it eventually will require repair - that's a guarantee - it's just a question of when. I'm choosing the Subaru warranty to insulate myself from any big shock costs outside of the 3/36 or 5/60 components. While Subaru does have a great track record with extending warranties related to faulty designed parts, I personally would rather take the $1700 warranty, divide it into 60 payments, and literally not have to worry about anything for 10 years or 100k miles. For me, the ~$30 per month is worth it, and I hope I never use it.

However, that being said, it is a brand new first-year model, and if there are any design flaws, I'm confident that they'll be found and discovered in those 10 years.
 

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If you look at the Window sticker and on the SUBARU.com website just only accept Added Security. It’s the only one backed by SUBARU. Maybe check with your financial co. to see if they’ll help you get out of the crappy coverage and into Subaru’s? It can only be a + for them?

Heed warning when pressured to purchase third-party extended warranties and maintenance plans w/ your new Subaru. I was rushed through a couple options with the finance manager at the dealership we purchased our Ascent from. Leaving details out for now, I settled on both an extended "bumper-to-bumper" plan and a maintenance plan, to the tune of over $1800 that would get factored in to our monthly payments. I thought he did a decent job at explaining the details of both, signed my name on the line and that was that. Upon thinking about it further, I decided to go back and actually look at the exact details of both (which I had to find on the internet, no paper copy of such was ever passed on to me)....only to find out that the "bumper-to-bumper" plan is absolute garbage. The maintenance plan was crap too after factoring in the length between recommended service intervals. So long story short, I feel absolutely duped and yes I'm completely aware it's my fault for not reading everything in detail before signing. I'm pointing out my shortcoming in hopes that nobody makes the same mistake I did.


Both are through "Fidelity Warranty Services, Inc" out of Deerfield Beach, FL.


The warranty plan is called "TERM CARE SELECT." I attached a snippet to this post highlighting the covered parts, but here's the full details if you want a really good laugh... http://jmtc.info/T8773


The maintenance plan is called "CAR CARE SERVICE PLAN."


After doing some extensive reading on both, I'd highly advise you to stay away from these if you're offered. Unless of course you like throwing your money away.



I'm in the process of trying to obtain a refund for both, and will post an update if anyone cares, lol.
 

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I also refuse any of the stuff finance guy sells. Hate it when they say to me your car is an investment and you need xyz to protect it...blah blah blah. I then reply, "car is never an investment, investment increases value over time, a car depreciates once I drive it off." That will usually shut them up. I do not buy warranty to "protect" a liability. A home/real estate is an investment so I will buy insurance to protect it.
My finance guy never asked me anything of the sort. I picked what I wanted, and asked what I could finance or not. My accessory changes made him have to redo my loan twice (so, three loan requests) - thankfully, Chase was understanding, perhaps because the dealership moves a LOT of vehicles and my finance manager has some pull.

He literally let me pick what I wanted with my sales guy (who sat patiently while I picked stuff, or walked away so I could pick my final accessories list with zero pressure), and then did no more than explain interest rate, term (number of months), total interest, when my first payment was due, prepayment stuff (you can pay numerous payments ahead or pay principal only payments), etc, and showed me where to sign.

Point being...
Always double check everything, but don't assume all finance guys are terrible.

And, don't expect every finance guy to be one that's got a ridiculously high 5 of 5 star customer rating on DealerRater, like mine. Who the heck has ever heard of that happening with a car finance guy?

https://www.dealerrater.com/sales/Tom-Portee-review-182538/
 

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My finance guy never asked me anything of the sort. I picked what I wanted, and asked what I could finance or not. My accessory changes made him have to redo my loan twice (so, three loan requests) - thankfully, Chase was understanding, perhaps because the dealership moves a LOT of vehicles and my finance manager has some pull.

He literally let me pick what I wanted with my sales guy (who sat patiently while I picked stuff, or walked away so I could pick my final accessories list with zero pressure), and then did no more than explain interest rate, term (number of months), total interest, when my first payment was due, prepayment stuff (you can pay numerous payments ahead or pay principal only payments), etc, and showed me where to sign.

Point being...
Always double check everything, but don't assume all finance guys are terrible.

And, don't expect every finance guy to be one that's got a ridiculously high 5 of 5 star customer rating on DealerRater, like mine. Who the heck has ever heard of that happening with a car finance guy?

https://www.dealerrater.com/sales/Tom-Portee-review-182538/

I should have gone across the river to buy at Liberty Subaru and ask for your finance guy. The guy I had at Grand Prix was shady and would never recommend him. But at the end, still got a pretty good deal on the accent and my forester,
 

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Discussion Starter · #19 ·
Just an update, I was able to get a full refund with no trouble as I was within my 30 day grace period (which seems to vary from state to state btw). As stated before it won't change my monthly payment; the cost just got subtracted from my loan and lowered the amount owed. Basically, I'll pay it off a few months earlier than anticipated.
 
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