Used CAR WARRANTY EXPOSED (& Explained)
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- เผยแพร่เมื่อ 25 ก.ค. 2024
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Used CAR WARRANTY EXPOSED (& Explained)
We take a deep dive into car warranties in this one, explaining how they are supposed to work and what recourse you have if things go wrong. Used car warranty is explained in this one so I hope you find it useful.
We also look at the difference between an insured Warranty and a non-insured warranty (also known as a discretionary warranty) - this is a bit of a can of worms that I'm sure not too many of you know about.
Sould you take out an extended warranty on your car or is it all just a rip-off?
#usedcars #carwarranty #carfinance
00:00 Intro
00:39 The Basics of Used Car Warranties
03:35 Warranty Types (Insured vs Non-Insured / Discretionary)
10:10 Which would I use? Cover explained
17:53 Policy Documents
20:01 Car Warranty Claims Stats
22:05 Should you get an extended car warranty?
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Thank you Jim. Great content...informative and timely. I wish you and the channel continued sucess.
Thanks very much 👍
Very timely video for me - been a subscriber for some time and about the pull the trigger on a high mileage a4 replacement - and looking at warranty options - hadn’t realised about the uninsured vs insured cover. Thanks for pointing that out. Will be sure to get a quote using your code. Cheers Jim. Awesome work as always.
Glad it was useful 👍
Thanks Jim, just took on the policy based on your recommendation. Been watching your videos since day 1. Nice to see the site progressing well. Good for you!
Thank you and thanks very much for watching
Jim
Brilliant, very well explained, didn’t know there were so many options. 100’% trustworthy information.
Many thanks
Thanks Peter, I think way too many are ill informed and it's part of the reason why warranty has had a bad name over the years. People buying sub-standard products and covers will only get what they pay for really so I'm pleased to shed a little light onto it.
Very interesting video, thank you for covering this subject.
Thanks for watching
A great video full of good information and advice. It seems to me that premium brands have the most claims because most of their policies are bought by premium brand owners. There is a lot of us out there who would love a premium brand, can't afford new, but are worried about the ongoing costs of buying an out of warranty used one. Keep up the good work.
I think JLR having 30% of the claims combined tells a different story personally ;) 👍
This is an eye opening video, thanks. Never knew about insured / non insured on these policies which makes complete sense. It is very difficult to find a company which can be trusted in various industries but always worth paying that little bit more to save a lot of money later on. Take care
Wise words Richard
Thanks for the video Jim.
You are very welcome
👍👍👍 1st class info. Thanks Jim
Thank you Sir
Well bit of an eye opener well worth knowing thanks Jim
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excellent clear information!
Glad it was helpful!
Great video Jim, thanks for explanation especially insured vs non-insured which I was completely unaware of. I had a quick look through the ALA policy and when it came to EVs I couldn't see any specific mention of HV battery being covered or the heat pump and whether that would be covered by air conditioning. Certainly a warranty I will consider for my Kia Soul when it comes out of its 7 year Kia warranty next year.
Yes, doesn;t look liek the battery is covered but I;d probably give them a call and check about that and the heat pump - the staff I've spoken to so far seem to be great
Thankfully.I don't need a warranty as I run a motorbility car, but if I didn't I would certainly be looking at that great video
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Great vid Jim !
Thanks 👍
Very interesting as usual
Glad you think so!
This vid couldn't have come at a better time. Currently looking around trying to decide what to replace my Model 3 with and warranty is a major concern when considering buying used - even on a relatively 'young' car you soon run up against the mileage limit (Tesla seems low at 50,000) or age (Tesla 4 years, many others only 3 years) . I'd no idea about the Insured vs Uninsured cover so many thanks for highlighting that.
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Hi Jim, great video as usual. I’ve been thinking of getting an extended warranty for my four year old BMW X3 and checked out ALA who are a great company ( I’ve had numerous GAP policies with them) . Read through all the details of their top , Platinum policy. All pretty good and comparable with the official BMW one which has a hefty excess and about 15% more expensive. Only issue is that the labor rate with ALA is capped at £100/hr inc VAT. Called my local BMW Dealer and was quoted over £200 / hr! If you choose to use their own affiliated garages that’s not an issue but they primarily use Halfords auto centers. Now I use Halfords quite a lot but I wouldn’t entrust my X3 to them for any complicated work. I doubt they have the expertise or specialized equipment and tools for the work. Seems like the “ premium” brands have you over a barrel, no surprise!
It would probably cover a decent BMW specialist. £200 hr from BMW is daylight robbery and I’m glad ALA won’t pay those numbers - neither should you 👍👍
Good video, I've been looking at them recently for my Jaguar XE with all the known issues it has. The discount code will swing it abit for now 💪🏿
You’re a wise man to get a warranty on a Jag Dan 👍
Recently looked at changing to an EV and my 2 favourites were a '20 plate I pace HSE that came with a 90 day warranty @ £24k or a 72 plate inoniq 5 Ultimate from hyundai main dealer @£28.5k but because it was approved the dealer 'topped' up the warranry back to a full 5 years.
I could have purchased a seperate warranty for the I pace for an extra £2k !!
They are both beautiful cars and i knew i would be happy with either but that 5 year warranty was just too good to turn down.
It's important to know if they're gicing you full manufacturers parts & labour warranty as you would get with a new car - or just a self branded third party warranty (which many main dealers are putning out as "manufacturer warranty")
Great video, thanks. I wasn't aware of insured and non-insured policies.
If you make a claim against warranty insurance, do you have to answer yes to previous insurance claims when it comes to car insurance renewal questions?
What ALA said ⬇️
Hello,
We're pleased you found Jim's video interesting and that you know a bit more about uninsured vs insured warranties.
In answer to your question; This will depend on the specifics of the car insurance renewal questions - some ask about comprehensive insurance claims only, and some ask about any insurance claims. (Which would include home insurance claims too or gadget insurance claims, for example)
So, the devil is in the details of the question. We recommend asking the provider.
Hope that helps!
Note that RAC warranty doesn't cover keys and locks. Wife's Dad's ignition barrel failed on his 10 year old Kia after 11 months of ownership. Not a part you can service, but regarded as a wear and tear item, hence it cost him £470 to replace. The warranty didn't cost him extra when he bought the car, fortunately. I had to rescue him and get the RAC to tow it to the garage. Personally I wouldn't pay for a used car warranty as there are so many exclusions.
I guess the policy didn’t cover keys and locks or wear and tear. As long as it didn’t claim that it did there’s no issue really. The important thing is to understand these covers before you take them out. There are so many cheap non-insured products out there that are arguably less black and white than others.
I had a warrantywise one around 8 years ago the alternator started to fail was making awful noise and due to design of the 3.0hdi V6 was told not to drive car as will cause further damage bill to repair £1100 they said not covered its in the small print. Waste of money!
👌 I hope this video helps you understand why that might have been the case. An insured products has no small print, just says what you’re covered for, when you’re not, and what you need to do to comply with the conditions 👍
Snodhurst car sales in Kent sold me a car with 3 months warranty. After 4 months I discover a hidden head gasket failure. They just rejected my claim. To avoid them.
Great reason to get yourself a decent warranty.
Got stiched up once when buying an Escort popular, the dealer apparently showed me the 'wrong plan' in the booklet just as we were about to close the deal. This one only really covered the engine and box, perhaps I should of walked. Bit naughty really. However we ended up keeping it eight years so got our moneys worth.
That's bad darts eh!
In the old days it was "warranty to follow", meaning you receive it in the post after purchase. These are now banned but there are doubtless still plenty of worthless products.
there was certainly some dross on offer in the bad old days; I would hope things are better now but still plenty out there that I’d advise people to avoid.
Just bought an Ala warranty today for a jag xe, 20k miles. Thanks for the reassurance?
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Hi Jim, Do ALA expect you to 1) Have them inspect your vehicle to back up any servicing? 2) Expect you to pay for repairs ( once approved), then claim the money back from them or will they deal directly with the garage.? Many thanks.
Hi. No pre-inspection required, you need to have evidence of your servicing. If you used an approved repairer they can usually settle direct, probably not if you use a non approved one. Best call them with any questions to get a proper answer but that’s as I understand it 👍
Hi Jim, looked at this the other day with your code of Course, was looking for my Model 3, I was concerned with lack of EV specific coverage, what's your thoughts on this?
There is a page dedicated to EV warranty www.ala.co.uk/warranty/ev-warranty - it looks like the motor is covered but not the EV battery. Give them a call if you have any specific questions 👍
@@DefinitelyNotAGuru Nice one Jim, it is the best ive found, 816 with you code for 3 years £100 Labour and £5000 max claim- dont think there is a part on the Tesla that will cost more then 5k to sort
I have a warranty with Car Shield and they are terrible. I had to fight them for two weeks to get them to pay for replacing a transmission. They tried to say it was bad before I bought the warranty. Fortunately, I had a state inspection 3 months before I bought the policy. I keep all repair receipts and had one for getting the transmission fluid replaced. They will try to blame the breakdown on poor maintenance to get out of paying. Advice, get an inspection before buying a policy, and keep all repair receipts even oil changes.
You definitely need to keep your receipts as it’s generally a policy condition that you do. Is the car shield product “discretionary” or insured?
After reading the contract again it is discretionary and requires me to maintain the vehicle and keep all receipts.
Discretionary is bad news in my opinion. Have you seen my recent video about car warranty?
Also, do ALA cover diagnostic time please?
On some cover levels. You really need to read through the site mate 👍
With regards to your Tesla MY, what service receipts do you have? My own M3 has never been serviced - it's only had new wiper blades and tyres (plenty of repairs under warranty though). Tesla don't seem to have a scheduled service requirement so would ALA accept this?
You’d have to ask ALA
I found the motor ombudsman a joke, Example Nissan Leaf 48k miles, fully serviced and MOTs at a main dealer until covid (missed one service but did zero miles). Motor and transmission problems with a 9.6k bill, I argued car was not fit for purpose, they said "Lack of maintenance" on none serviceable parts. 2 years so far and ongoing!
An optional ombudsman service funded by its members. Have you spoken to citizens advice? Small claims court might be an option.
@@DefinitelyNotAGuru 2 years in and small claims court tends to "Follow" the ombudsman, nice little package, of once sold you are on your own when the warranty runs out. Despite it being well below the expected life expectancy
I'm sure this may vary between providers, but in your experience, do you know how precise insured providers will be when it comes to the vehicles service history. For context, I'm looking to buy a 8/9 year old BMW m235i with < 60k miles. However, it's a struggle to find one that has SH perfectly inline with the manufacturer guidelines (a service every 10k miles). Usually they are all 10k miles, but there will be some cases of an 11 or 12k interval. Would this mean that any warranty would be void?
I'd have no idea but a quick call to ALA will let you know. Better to ask the question ahead of time rather than get a claim declined at a later date.
Audi All in seems a decent option. Be aware though they will sell you this when you book your car in for a service and unless you have a full Audi service history anything they find on your service before 30 days, they wont cover anything.
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So, they quoted me £750.00 to change the bottom spring mounts at the back. My 2020 A4 has 50,000 miles on it. My last car, a Volvo V70 I took to 190,000 miles with no suspension work. However, my local Loughborough Audi specialist S-line quoted me £180.00 for the same job. I am booked in there tomorrow.
Word to the wise regarding Handler Protect….if you cancel the remainder of a policy regardless of how long is left (bear in mind they sell up to 3yr warranties) they refund zero of what you paid, under the T&C’s you only have 30 days from policy start to qualify for a refund so if you decide to sell your car you’ll have hundred’s possibly thousands of pounds of policy worth absolutely nothing and to add insult to injury you can’t transfer it……long story short, don’t touch with a sh1tty stick !!
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the best warranty i have ever had was there in house warranty,they are a family company been down the generations now run by the Daughter,any problems they came out and collected it and left a courtesy car. i rate this company so highly that a cars head gasket went 2 weeks after the 6 months warranty run out and as a good will gesture they did it for FREE!
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Trying to get Autoprotect to approve warranty on Head valve cover (rocker cover) replacemect (BMW replace head cover and gaskets as a set). as oil pissing out from the sides engine. Nightmare to deal with.
I haven't hear from them, was it a "free warranty" from when you bought the car?
@@DefinitelyNotAGuru Yeah 3 month warrenty. See how it goes tomorrow and submit claim with them.
it's probably a bit rubbish, those free ones general are absolute pants
Interesting stats on warranty claims, but what is the breakdown(!) by make of ALL cars covered by their policies? So for example if 40% of their policies is covering Range Rovers then having 19% of all claims for Range Rovers is not so bad. Unlikely to happen but stats can be skewed by not knowing all the details.
All cars covered by the insurer's policies since they started their scheme, pretty much 30% of claims on everything have been on JLR vehicles.
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It’s still a big number for BMW ?
It is
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I was so interested in this video until you said you were sponsored. ........stopped watching.
Cool story, thanks for sharing. It's a shame you missed the bit about all the companies that have offered me a ton of money to push warranty products in the past; I must have turned 10 away before I found one that I actually believe in. Nevermind.
If you think I work with companies just for the cash I would suggest you unsubscribe mate; I'm not that bloke.