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