Warranty company went bankrupt

Tonyloc516 · 03-04-2008, 02:41 PM

I traded in my 2006 saturn ion for an aura and when i first got the ion car saturn made me take out a extended warranty. i paid 1200 and they told me if i did not use it i would get my money back. anyways i found out that api the warranty company went bankrupt. i saturn gave me a website apibankruptcy and the information said that the warranty was covered by insurance company. so there is about five insurance companys. i found my name that was listed in one of the company. the problem is there only taking claims from seven states and my state is not included right now. i dont know what to do. should i wait. is there any legal action. i dont even know who to contact to find out if when the insurance company will start taking claims. has this happen to anyone. just curious.

live2drive · 03-05-2008, 02:45 AM

What do you mean by Saturn made you take an extended warranty? Extended warranties are purchased by the buyer and are optional. Do you mean the salesman pushed you into purchasing an extended warranty? I've never heard of ANY car company forcing someone to get an extended warranty.

madmon · 03-05-2008, 04:34 AM

I have not heard of this type of thing either, but you cant assume it wont happen either. Go and read over all your paperwork before you do anything, the last thing you want to end up with is finding out that the papers you signed state that you have no entitlement back to a refund if the company goes belly up.

Aboyade · 03-13-2008, 01:32 AM

While I also have not experienced being forced to purchase a warranty, I can't deny it happening either. I will say, though, that a warranty is a binding document. Was there anything stated within it that defined it being good only in certain states? I know we have a tendency, at times, to sign without looking thoroughly but you should have a copy of the warranty. Then, even though your name was listed with the company that does not serve your state, did you check to see which of the remaining companies cover the state you are in, if any?

03-04-2008, 02:41 PM	#1 (permalink)
Tonyloc516 Junior Member Join Date: Mar 2008 Posts: 4 Marketplace Feedback: 0 Status: Offline	Warranty company went bankrupt I traded in my 2006 saturn ion for an aura and when i first got the ion car saturn made me take out a extended warranty. i paid 1200 and they told me if i did not use it i would get my money back. anyways i found out that api the warranty company went bankrupt. i saturn gave me a website apibankruptcy and the information said that the warranty was covered by insurance company. so there is about five insurance companys. i found my name that was listed in one of the company. the problem is there only taking claims from seven states and my state is not included right now. i dont know what to do. should i wait. is there any legal action. i dont even know who to contact to find out if when the insurance company will start taking claims. has this happen to anyone. just curious.

03-05-2008, 02:45 AM	#2 (permalink)
live2drive Member Join Date: Feb 2008 Posts: 56 Marketplace Feedback: 0 Status: Offline	Saturn made you? What do you mean by Saturn made you take an extended warranty? Extended warranties are purchased by the buyer and are optional. Do you mean the salesman pushed you into purchasing an extended warranty? I've never heard of ANY car company forcing someone to get an extended warranty.

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03-05-2008, 04:34 AM	#3 (permalink)
madmon Member Join Date: Feb 2008 Location: In a bunker Posts: 57 Marketplace Feedback: 0 Status: Offline	I have not heard of this type of thing either, but you cant assume it wont happen either. Go and read over all your paperwork before you do anything, the last thing you want to end up with is finding out that the papers you signed state that you have no entitlement back to a refund if the company goes belly up.

03-13-2008, 01:32 AM	#4 (permalink)
Aboyade Junior Member Join Date: Mar 2008 Posts: 18 Marketplace Feedback: 0 Status: Offline	While I also have not experienced being forced to purchase a warranty, I can't deny it happening either. I will say, though, that a warranty is a binding document. Was there anything stated within it that defined it being good only in certain states? I know we have a tendency, at times, to sign without looking thoroughly but you should have a copy of the warranty. Then, even though your name was listed with the company that does not serve your state, did you check to see which of the remaining companies cover the state you are in, if any?