I'd be *real* leery about that third option. If they
"buy" the loan out, that means they pay off your
balance and then take out a new loan. Sounds like a
good deal until you find out how much your interest
rate gets jacked up.
When I bought my truck, the finance guy said the best
rate he could get was from Bank One(my bank, it turned
out). It was some astronomical number (~19%). I had
looked into getting a car loan thru my bank before
going to see him, and the rate I got by directly going
to them was about 10 points lower. From the same
friggin bank. Be very careful before entering into any
kind of loan with the Stealer.
My extended warranty goes for 6/75k. I got it when I
bought the truck. I'm at 58k in the 4th year already.
I just hope, if anything major is going to break, it
does it before the 75k mark.
--- Terrible Tom <SilverEightynine@aol.com> wrote:
>
> Morning everyone! I am less than 170 miles from
> having the 3/36 factory
> warranty expire on the Ram. I have been looking
> into getting extended
> coverage. Stealer I bought the Ram from has quoted
> me the following:
>
> Pay in full up front for "service contract"
> $1370+tax - I will get an
> additional 4 years and up to 100K miles
>
> Pay on time - different plan $160 up front, $120
> over 12 months, (cant
> read this guys writing) I think its for either 3 or
> 4 years and 75K miles
>
> 3rd option he gave me was they would add it onto my
> current loan by way
> of buying back my current loan - essentially buying
> back my truck as he
> told me, there would be a $100 safety inspection
> fee? And they would
> add the $1370+tax to the balance of the loan amount.
>
> This 3rd option seems fishy to me for some reason.
> Also I am debating
> just if I need an extended service contract or not.
> We are all well
> aware of the kinds of issues our trucks have,
> pinging, trans problems,
> belly pan gaskets etc.
>
> All I really want is power train coverage because I
> can handle most all
> other repairs on my own. I can get parts through
> work and save labor by
> repairing stuff myself. But I can't handle the cost
> if I need an engine
> or transmission. Yes I know they offer power train
> only coverage - but
> they told me it would cost much more. In the $2000
> range.
>
> Any recommendations from folks who have been
> there/done that service
> contract stuff before?
>
>
> --
>
--------------------------------------------------------------
> Terrible Tom -- AIM & Yahoo Name: SilverEightynine
>
This archive was generated by hypermail 2b29 : Mon Mar 01 2004 - 00:34:02 EST