ARE WARRANTIES A SCAM!? — Transcript

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1. 0:00Did a dealership try to sell you an
2. 0:01extended warranty when you bought your
3. 0:02car and you said no? Let me tell you
4. 0:04why. That was a big mistake. A lot of
5. 0:06people think it's just a sales pitch.
6. 0:07But let me tell you something. You need
7. 0:09to have a warranty. These things are all
8. 0:10mechanical and they break. I have people
9. 0:12all the time that don't buy a warranty
10. 0:14and then they come in and go, "Well, I
11. 0:15have a $4,000 bill. I can't afford this.
12. 0:18How could this happen?" Because you
13. 0:19didn't buy a parachute. You if you're
14. 0:21jumping out, need a parachute. If you're
15. 0:22jumping in the water, you need a life
16. 0:24jacket. This gives you that protection
17. 0:25cuz when do things break? When you don't
18. 0:27need them to. My furnace always goes out
19. 0:29at Christmas time when you're trying to
20. 0:30buy presents. And with all the
21. 0:31technology in these things, they get
22. 0:33more and more expensive. So, I would
23. 0:34roll it right into your monthly payment.
24. 0:36Make it affordable. So, if anything ever
25. 0:38happens, you're covered. Especially if
26. 0:39you got your kids, you're co-signing for
27. 0:41and putting them in a car. If it breaks
28. 0:42down, who are they calling for repairs?
29. 0:44They're calling you. And what happens?
30. 0:45The payment book never stops showing up
31. 0:47in the mail. You still got to pay those
32. 0:48every month. And now you got to add that
33. 0:50expense on it. And if you're buying a
34. 0:51brand new car, definitely buy the
35. 0:53extended warranty, especially if you're
36. 0:54going to keep it. That's why they do a
37. 0:55threeyear 36,000 miles. They know things
38. 0:58have a shelf life and they only have a
39. 0:59certain amount of money allocated to
40. 1:00cover those expenses. So, make sure you
41. 1:02get the extended warranty. The good news
42. 1:03is if you go to trade in the car or sell
43. 1:05the car, you can cancel that warranty.
44. 1:08It's prrated on based on what you used
45. 1:10on time and mileage. And if it's been in
46. 1:11the shop, you would get a refund for
47. 1:13that. If you did finance it, it will go
48. 1:15to your lean holder and lower your
49. 1:16payoff balance. You always have the
50. 1:18option of canceling it, but you might as
51. 1:19well have it in case something happens.
52. 1:21Let me know in the comments. Do you
53. 1:22think an extended warranty is a scam, or
54. 1:24do you live by them? And has it saved
55. 1:26you from money being out of your pocket
56. 1:28before?