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Discussion Starter #1
I got a letter today from National Vehicle Protection Services saying and I quote!


"We have just been advised there will be a Price Increase to our Extended Vehicle Service Plans (EVSP) effective January 3, 2019. After that date we will not be able to honor the service contract quote designed specifically for your
2018 HONDA CR-V. Please call us at 1-800-672-1868 so we can hold your EVSP contract at the lowest program rates."


If this a joke? I purchased an extended warranty when I bought the car brand new before I took it off the lot and are they now saying I have to pay extra to continue this warranty? Is that even legal? Right after I purchased my car, a week later I was getting suspicious mailings saying my warranty was already expired and to call to extend it and I knew that was a scam...so I'm wondering if this might be one also?

Has anyone else had any dealing with this yet?

Any info would be helpful. I just the letter today and I don't plan on doing anything until the day after Christmas. Right now if I call anyone I might blow a gasket..literally!:zx11shock

Thanks all

Vada61
 

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Moved to 2017 section-you didn't buy Hondacare therefore move is warranted.
Third party warranty are usually overpriced and the only warranties people complain about.
Go back to dealer and cancel it. Then buy Hondacare.
 

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If I bought it from the Honda dealership, wasn't it their product? I would have assumed it was a Honda warranty, but I guess I didn't ask enough questions. The warranty was added to my loan so can they even refund that? This is my first veh from Honda so I'm a little in the dark I guess about all this. So, I guess I'm a little ticked at the Honda dealer who set up our loan and didn't tell us it wasn't a warranty thru Honda. I guess I have some phone calls to make.
 

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You have to beware of stealerships everywhere. And yes, it definitely is not a Honda warranty. Talk to the general manager if you have to and make sure to cancel it. There's a huge discussion on whether or not to get an extended warranty on a Honda vehicle.
That's a topic for a different time but meanwhile make sure to resolve that warranty issue.

I always, when I'm dealing with the finance department, before I begin to sign any document, I request to see the bill of sale reflecting all the numbers. And I take my sweet time reading everything. I walked away once from a Subaru dealership because of shady practices.

Good luck and report back.
 

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Live and learn........those finance dudes are "gotcha" professionals. I would think the warranty could be cancelled........hope so, anyway.
 

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I think they are talking about future warranties not existing ones. My opinion. They are saying if someone got a quote, better buy it before Jan. 3rd.
 

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I talked to the finance person to cancel my warranty two weeks after I got my car/warranty, was able to complete the transaction of cancelling it after another two weeks. Got my full refund though. I am sure she was not a happy camper (lost her commission).
 

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Any info would be helpful. I just the letter today and I don't plan on doing anything until the day after Christmas. Right now if I call anyone I might blow a gasket..literally!:zx11shock

Thanks all

Vada61
Cancel it, don't even argue and don't take an "oh we can make an exception this time". If your getting this kind of treatment now then I can tell you with 100% certainty that they will shaft you royally if you ever try and make a claim.

Rob
 

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Discussion Starter #9
Thanks all for your suggestions. I'm going to try and make some phone calls on Monday even though its Xmas eve, maybe they will be in the office..can't hurt to try. If not then definitely on the 26th. Will be sure to let you know how it all turns out.
 

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Thanks all for your suggestions. I'm going to try and make some phone calls on Monday even though its Xmas eve, maybe they will be in the office..can't hurt to try. If not then definitely on the 26th. Will be sure to let you know how it all turns out.
Car dealers are usually open on Saturdays.
 

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I bought an extended warranty from my dealer, I am sure it's not Honda Care. i guess they don't give two farts about Honda because my loan was through Capital One. WTF? MY friends tease me about having a subprime loan. My last Honda, a 2.3 CL was financed by American Honda.
 

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I got a letter today from National Vehicle Protection Services saying and I quote!


"We have just been advised there will be a Price Increase to our Extended Vehicle Service Plans (EVSP) effective January 3, 2019. After that date we will not be able to honor the service contract quote designed specifically for your
2018 HONDA CR-V. Please call us at 1-800-672-1868 so we can hold your EVSP contract at the lowest program rates."


If this a joke? I purchased an extended warranty when I bought the car brand new before I took it off the lot and are they now saying I have to pay extra to continue this warranty? Is that even legal? Right after I purchased my car, a week later I was getting suspicious mailings saying my warranty was already expired and to call to extend it and I knew that was a scam...so I'm wondering if this might be one also?

Has anyone else had any dealing with this yet?

Any info would be helpful. I just the letter today and I don't plan on doing anything until the day after Christmas. Right now if I call anyone I might blow a gasket..literally!:zx11shock

Thanks all

Vada61

The email reads as if you were quoted a price and have not yet accepted it. They are pressuring you into signing a contract. It would be illegal to increase the price of an already signed contract, unless there was a disclaimer regarding such.

I would look at this as a blessing in disguise. It highlighted the fact that you purchased a 3rd party warranty, which it appears you didn't know. Depending on when you purchased your car, you can cancel the contract and get a full refund. You can then use this site to find where a true HondaCare warranty can be purchased for a fraction of what your dealer would charge.
 

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I bought an extended warranty from my dealer, I am sure it's not Honda Care. i guess they don't give two farts about Honda because my loan was through Capital One. WTF? MY friends tease me about having a subprime loan. My last Honda, a 2.3 CL was financed by American Honda.
We should never borrow money to buy a car.
 

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We should never borrow money to buy a car.
When I bought my Lexus I financed it from a bank at 1.5%. The money I would have used to pay cash ended up making almost 20% by the time the loan was paid off. Please explain how I would have benefited by paying cash.
 

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^^^^This^^^^ Dave Ramsey would be proud.:thumb:[/QUOTE

My wife and I had this discussion yesterday. She threw the Dave Ramsey thing up and I told her I bet Dave drives a 1984 Toyota Corolla with 400k on the clock. That is if he follows his own logic.:auto:
 

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We should never borrow money to buy a car.
The last two cars I bought I called my investment manager and gave him the interest rate and asked if I should pull the money from our investments or finance. Since both loans were 0.9%, he wanted to know why I was even asking as I should already know my investments were outperforming that with room to spare.

The problem with the never borrow money quote is that it doesn't take in any actual circumstances like interest rates or return on investments.
 

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The last two cars I bought I called my investment manager and gave him the interest rate and asked if I should pull the money from our investments or finance. Since both loans were 0.9%, he wanted to know why I was even asking as I should already know my investments were outperforming that with room to spare.

The problem with the never borrow money quote is that it doesn't take in any actual circumstances like interest rates or return on investments.
So how do you feel today? Bet you feel good that you saved all that money in your investment accounts that have probably going down so much.

But you are right, circumstances and even risk tolerances are different for each of us.
 

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Here is a scenario:
Let's say you plan to spend $40K on a vehicle, and take the low 2.9%, 72 month loan with a payment of $600 per month.
Instead of paying cash, the plan is to invest the money in the stock market and use the gains to make the car payment and hopefully have some extra cash when the loan is paid.

However, there is a huge crash instead, let's say 40%. Keep in mind that the market dropped 60% in the 2008 recession. Then, the market flat lines for several years.

Your $40K is now worth $24K, but you still need to make the $600 per month car payment. The remaining balance of $24,000 will run out after 40 car payments, leaving an additional 32 payments ($19,200) that need to be covered by another source.

So, your $40,000 vehicle now costs you $59,200 because you didn't pay cash.
 

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Here is a scenario:
Let's say you plan to spend $40K on a vehicle, and take the low 2.9%, 72 month loan with a payment of $600 per month.
Instead of paying cash, the plan is to invest the money in the stock market and use the gains to make the car payment and hopefully have some extra cash when the loan is paid.

However, there is a huge crash instead, let's say 40%. Keep in mind that the market dropped 60% in the 2008 recession. Then, the market flat lines for several years.

Your $40K is now worth $24K, but you still need to make the $600 per month car payment. The remaining balance of $24,000 will run out after 40 car payments, leaving an additional 32 payments ($19,200) that need to be covered by another source.

So, your $40,000 vehicle now costs you $59,200 because you didn't pay cash.
There are a lot of "what-ifs" in this world. I like to play the percentages. :)
 
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