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how much is customer protect gold cover - Kate Ni

Bought a car recently.

the dealer charged me 990 pounds for 2 year customer protect gold cover warranty. but in the document they give me(a schedule with a reference), it says the premium is 0.

and they did not show me any price list of the warrenty. so I have no idea how much exactly I should pay or paid to customer protect.

Am I over-charged?

how much is customer protect gold cover - badbusdriver

Sounds quite expensive!.

What kind of car was it you bought and how old was it?

how much is customer protect gold cover - Kate Ni

a BMW 3 2012, . the warranty is gold Mechanical Breakdown Warranty.

what concern me is that I did not see this figure 990 pounds anywhere in any document. theoretically the dealler can charge me any number they said.

and the premium in scheule is 0, I am worried if they actually bought me any warrenty.

Edited by Kate Ni on 10/04/2018 at 22:46

how much is customer protect gold cover - RobJP

Sounds as if they have 'bundled' the price of the warranty into the price of the car. But it doesn't matter how it's being paid, if you've been quoted a price and have paid it (lets say £10k for car, 1k for warranty), and have paid 11k and got the car and the warranty, then you've got what you paid for. If the warranty paperwork has come through, then it's all good and done.

Yes, you could almost certainly have got a warranty cheaper elsewhere. But you are supposed to look up that sort of thing, or negotiate on price, BEFORE signing.

how much is customer protect gold cover - Kate Ni

@RobJP

thanks.

I thought the dealer should sell me the warrenty at the price quote by warrenty supplier and get some comission.

you mean the dealer get a warrenty from warrenty supplier and can sell me at any price they want? is that legitimate?

Edited by Kate Ni on 10/04/2018 at 23:02

how much is customer protect gold cover - gordonbennet

Presumably you agreed a price for the car, let us say £10,000, when you came to sign/pay was the figure suddenly £10,990, at that point you should have queried things.

If you paid £10,000 then it doesn't really matter to you how they've made the paperwork appear or for what purpose, you've paid out £10k.

Hope you enjoy your new car.

how much is customer protect gold cover - Kate Ni

for the agreement between the dealer and warranty supplier, are the dealer allowed to charge any money they said or they have to stick with the quote from the supplier?

how much is customer protect gold cover - badbusdriver

Well it's certainly a good idea to have a warranty with one of those. But as Rob says, that kind of thing should really be looked into before signing on the dotted line. I recently bought a 2010 VW van and while the warranty was only for 3 months (and free) the seller explained it all in great detail before the deal was done. I'm not sure what, if anything, you could do about it now.

how much is customer protect gold cover - RichT54

It does sound expensive. You also need to take into account what the policy covers and what it doesn't cover. Typically, a lot of third-party warranties will have a long list of exclusions; and they may well try to get out of paying for a claim by declaring it "fair wear and tear".

how much is customer protect gold cover - SLO76
Did you pay £990 over and above the origional screen price, as in did they sell you a warranty? Or did they simply break down the list price and listed the cost of the warranty on the paperwork? If the latter it’s a scam to reduce their tax liability, if the former then you’ve been mugged by at least £800-£850 as the warranty will have cost the firm a fraction of what you paid. It’s a free market and yes they can sell it to you for any price they can get. It’s up to you not to allow them to do so by shopping around.

As a salesman I was encouraged and financially rewarded to sell these add-ons with huge commissions on overpriced warranties and GAP insurance. People shop around for the car, negotiate a deal then throw away every penny saved and a heap more by not shopping around for finance and warranties. I cringed sometimes when looking over the paperwork, some buyers of 2-3yr old cars were paying more over the full term than a new car would’ve cost them.

I got sick of the push to sell these gimmicks and trinkets. I loved selling cars but the money came from fleecing people once the car itself was a done deal.

Edited by SLO76 on 10/04/2018 at 23:10

how much is customer protect gold cover - Kate Ni

it is warranty plus the screen price. and list as two items in the invoice they give me. I thought it is normal since in cargiant they sell warrenty for extra 800 plus.

how much is customer protect gold cover - SLO76
The warranty will have cost at most £150-£350 to the dealer depending on how good it it. It’s a racket the warranty game with so many exclusions and conditions in the small print it’s more often than not impossible to successfully claim on one of these aftermarket warranties and even if successful there’s almost always a wholly inappropriate claims limit and often an excess to be paid.

The only one I’d advise paying money for would be an approved manufacturer extended policy. Always get the details in writing in front of you before agreeing to buy one. The cost, what it covers, any exclusions etc etc. If they squirm when asked them you know it’s poor value.

Contact the warranty firm to verify the policy exists. It’s not unheard of for fly guy firms to sell a warranty that doesn’t exist. I doubt this is the case here though, you’ve simply overpaid.

A few minutes spent googling reviews on warranties such as this reveals little ads of angry customers and a fortune in unsettled repair bills.

Edited by SLO76 on 11/04/2018 at 00:07

how much is customer protect gold cover - SLO76
“little ads of angry customers “

Loads of angry customers.
how much is customer protect gold cover - Kate Ni

I did a quick check on warrantydirect and warrentywise. the quote from warrentydirect is 200 pounds cheaper and warrentywise is 200 pounds more expensive. so I thought it was in a reasonable market range. :(

I found these two website via google, (not google ad)

Edited by Kate Ni on 10/04/2018 at 23:22

how much is customer protect gold cover - Kate Ni

is it normal the premium on the schedule is 0 ?

I am worried if they sold me an authentic warranty.

how much is customer protect gold cover - RobJP

is it normal the premium on the schedule is 0 ?

I am worried if they sold me an authentic warranty.

If you are concerned, then contact the warranty company to ask if the policy is paid for and 'live'.

That's it. Nothing else to do.

how much is customer protect gold cover - KJP 123

is it normal the premium on the schedule is 0 ?

I am worried if they sold me an authentic warranty.

Then confirm it with warranty provider

how much is customer protect gold cover - Kate Ni

ultimately. is the warrenty a contract between me and the warrenty supplier, or contract between me and the dealer?

how much is customer protect gold cover - KJP 123

ultimately. is the warrenty a contract between me and the warrenty supplier, or contract between me and the dealer?

Mmm, I assumed it was a third party warranty with the XYZ Warranty Company, in which case I would have said the dealer was just acting as an agent or broker and that the contract was between you and the warranty company.

But you have never said the name of the warranty company so it could be an extended warranty by the dealer. Is a warranty supplier named in the documents?

how much is customer protect gold cover - Kate Ni

name of the warranty is “customer protect” the warranty company is call autoprotrct,I think. Several dealers I went sell their warranty.

how much is customer protect gold cover - gordonbennet

This probably comes under the heading 'buyers regret'.

Failing to research or shop about before buying often results in paying too much for something, and no real excuse these days its takes minutes to research from the comfort of your chair, its not as if you have to traipse the streets endlessly as in the days before instant viewable information and online sales of such things.

As explained above, its add ons like this that make the sales persons salary up to a decent level, you could have said no to the warranty and bought one elsewhere..whether they are worth the paper they are printed on anyway is for another discussion..but you presumably opted for this warranty when it was offered.

Was there a discount offered on the car if the warrranty was bought i wonder?