Tuesday, June 01, 2010

Worth more than every penny!

When I bought my used 2002 Saturn L300, I also purchased one of those after market mechanical breakdown insurance policies and it has turned out to be worth more than every penny I spent on it!!! I actually chose one that had a zero deductible and it was only like $50 more or something!

Anyway, I've used it here and there and it has more than paid for itself already. I've had over $2,000 worth of repairs done and I only paid like $1,200 for it! I still have about 16,000 miles left or until June 8, 2012...whichever comes first. I'm pretty sure I'll be over on mileage well before that time. I highly HIGHLY recommend getting one of these policies for your next purchase as well as the gap insurance too. If your car is totaled and you owe more than the insurance company gives you, the gap insurance pays the uncovered amount! I hear gap insurance has gone up though. Anyway, I'm loving my warranty, that's for sure! Not to mention my peace of mind, since I'm a single female and all.


Mitchypoo said...

Just an FYI, if looking into gap insurance, check w/your insurance company first b/c their policy is usally MUCH cheaper and you can pay monthly and their is no interest on the gap insurance.

I worked as an insurance agent and this came up all the time. It was upsetting for me to see how much they paid for gap insurance thru the dealer.

BeccA's Buzz said...

Thanks for the info, I did notice the price of the Gap insurance I had the first time was quite a bit more than the second time. I just assumed it was because more people were using it now making a great risk or also that I was financing more they would have to cover as well. I'll ask my auto insurance agent before I purchase the next one :)