Extended warranty pitch was a scam, but the cheap one from my credit union saved me $2,300

I got those robo calls for months about my 'expiring factory warranty' on my 2018 Honda. Ignored them all. Then my transmission started slipping last Tuesday on the interstate outside Columbus. Towed it to a shop, they quoted $3,800 for a rebuild. I almost paid it. But my buddy at work said check with my credit union first. They offer a basic powertrain plan for $18 a month, no deductible after 30 days. I bought it the same day, waited the month, then filed the claim. They approved it in 4 days and cut a check for $2,300 direct to the shop. I still paid $1,500 out of pocket but that beat the full price. Now I get why the cheap, boring warranty from a place you already trust beats the scary phone guy. Has anyone else had better luck with a small lender's warranty over a big name one?

1 comments

1 Comment

piperr5812d ago

$2300 on a 4 year old tranny? That quote sounds high to me.