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Car Repair Insurance – Do I Need It?

Used Car Warranty. Do I Need It?

car repair insurance - warrantyMost people have auto insurance — from an auto insurance company — to protect them from the cost of accident damage, theft, and liability resulting from at-fault accidents. However the kind of insurance that most people have doesn’t cover mechanical failures, wear-and-tear, electrical failures, or any damages not caused by an accident.

These kinds of problems are typically covered by new-car factory warranties — for a limited time or for a limited number of miles. Most new-car warranties expire in 36 or 48 months, and 36,000 or 48,000 miles. Powertrain warranties which cover certain engine and transmission failures are usually longer.

Why do car manufacturer’s not offer warranties longer than 3 or 4 years? Because that’s when problems are most likely to begin.

People who buy used cars with no remaining factory warranty, or a soon-to-expire factory warranty, should consider a kind of car repair insurance to protect them from the high costs of unexpected repairs. Don’t make the mistake of thinking that your conventional car insurance pays for non-accident related repairs.

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Car Scam – Car Buyer Scam

Don’t get scammed by fake car buyers

Attention car sellers:

car buyer scam tricks sellersA common scam by phony used-car buyers can leave you with you with an empty bank account or PayPal account — or a large credit card balance.

The newest version of this scam: The “buyer” offers to buy your car sight unseen at your full asking price, or more, and wants your bank account number or PayPal email to send you money for your car. They have an excuse for not being able to talk to you any way but by email — no telephone.

Sounds safe enough, but a “problem” develops (so says the scammer) with your bank or PayPal “not releasing the funds”. You are instructed to go to a FAKE PayPal, eBay, or bank web site that looks legitimate but in fact asks you for your account info, including password. If you do it, your account will soon be cleaned out — and you still have your car.

Another version of this scam instructs the innocent buyer to send money via Western Union to a “shipping agent” in a foreign country. The scammer promises to reimburse you the money in the “PayPal” deposit to your account.

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