Cheap extended warranty for 7 years cost $462?
Thread Starter
Newbie
Joined: Jul 2003
Posts: 10
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C230 Sport Saden
Cheap extended warranty for 7 years cost $462?
Hi,
I got a new C230 and declined the extended warranty because Geico Insurance is offering me Mechanical Breakdown Insurance (MBI) Coverage, and Geico clam that it is just like the extended warranty and much better. http://www.geico.com/insproducts/insprmulti.html
About price, they quoted me $33 for half year. And I only can buy it for 7 years from now. (cannot buy it 11 months after new car purchase). So, for 7 years, it will be $462. It is much better price than the dealer's extended warranty. But is that good? what you guys think?
I got a new C230 and declined the extended warranty because Geico Insurance is offering me Mechanical Breakdown Insurance (MBI) Coverage, and Geico clam that it is just like the extended warranty and much better. http://www.geico.com/insproducts/insprmulti.html
About price, they quoted me $33 for half year. And I only can buy it for 7 years from now. (cannot buy it 11 months after new car purchase). So, for 7 years, it will be $462. It is much better price than the dealer's extended warranty. But is that good? what you guys think?
Newbie
Joined: Feb 2003
Posts: 20
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From: Amherst, NH
C320 Coupe
I would have some questions.
Is the rate firm for 7 years.
Are the other insurance rates firm? You have to have the car insured with them?
Remember you are going to be paying for this for 4 years before
You can use it. If you end up changing ins. co. you lose the warranty. For $463 its cheep almost too cheep.
Is the rate firm for 7 years.
Are the other insurance rates firm? You have to have the car insured with them?
Remember you are going to be paying for this for 4 years before
You can use it. If you end up changing ins. co. you lose the warranty. For $463 its cheep almost too cheep.
Thread Starter
Newbie
Joined: Jul 2003
Posts: 10
Likes: 0
C230 Sport Saden
Originally posted by Matt_NH
If you end up changing ins. co. you lose the warranty. For $463 its cheep almost too cheep.
If you end up changing ins. co. you lose the warranty. For $463 its cheep almost too cheep.
MBWorld Fanatic!
Joined: Sep 2002
Posts: 3,145
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From: Ohio
2010 C300 4matic
Yeah, I would definitely get all the facts and read all the fine print. I believe that it could really be that cheap, because they are banking on the chance that you will do something within those 7 years that will disqualify you from getting the coverage. And just like other extended warranties, they are taking a risk if you have a serious repair. But if you never break down, they get to keep your money. It's all calculated risk.
- BT
MBWorld Fanatic!
Joined: Jun 2002
Posts: 7,263
Likes: 169
From: So. Oregon Coast
C230 Sport Coup + 2006 W164 ML350 + 99 Ford Escort RIP
Hmmm.
Well, yeh, if you leave Gieco, then no policy.
Not sure if I'd want my auto insurance and repairs tied together, especially since Geico is one of those good driver companies.
3 tickets in a year and they'd drop you like a hot potato.
AAA offers it too, and I've been told the banks willl sell it to you, with your loan. (maybe a better way)
Better make sure you got a radar detector.
Don't know how I EVER got by without one before now.
It's saved me more times than I can count.
But I've also noticed the CA CHP isn't using it as much as before.
They used to drive around with it on continuous.
Now they hide in the shadows with no radar! (on hwy 17 at least)
What is up with that?
Well, yeh, if you leave Gieco, then no policy.
Not sure if I'd want my auto insurance and repairs tied together, especially since Geico is one of those good driver companies.
3 tickets in a year and they'd drop you like a hot potato.
AAA offers it too, and I've been told the banks willl sell it to you, with your loan. (maybe a better way)
Better make sure you got a radar detector.
Don't know how I EVER got by without one before now.
It's saved me more times than I can count.
But I've also noticed the CA CHP isn't using it as much as before.
They used to drive around with it on continuous.
Now they hide in the shadows with no radar! (on hwy 17 at least)
What is up with that?
