How to Avoid Used Car Warranty Scams – Valley Auto Loans

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All car owners look for an extended warranty after getting approved for their car loans. It is true that an extended warranty can solve a lot of problems far any car owner. However, there are too many Internet and phone extended car warranty scams that can lead to a complete waste of your hard earned money. Immediately after the approval of your auto loan application, you may receive a number of fraudulent calls from companies pretending to be warranty service providers. We are well aware of all these scams in the lending market because we have been around for many years, offering advanced auto loan service for credit challenged customers. This official blog of the company was introduced to help consumers with useful financial tips relating to their common problems.

Many bad credit borrowers tend to opt for used cars because these cars are easier to afford within a tight budget. Interestingly, it is possible to avoid the high percentage of depreciation by purchasing a car that is 2-3 years old. However, it is always recommended for an old car buyer to purchase a service contract, also known as an extended warranty. Bad credit car owners on a tight budget must consider this in order to avoid high unforeseen expenses.

How to Avoid Used Car Warranty ScamsWith so many fraudulent companies flooding you with phone calls, letters, and e-mails, it is tough to find out a company that is legitimate and have exactly what you are looking for. Be particularly careful about the telemarketing calls intended to sell a service contract to you. In these calls, the telemarketers may tell you several things that are not true. In many such calls, it is told that the call is being made by the dealer or manufacturer. They may also try to scare you by saying that your warranty is about to expire very soon. Many old car owners receive such calls where offers are made for warranties that are exactly like a new car warranty. Beware of all such promises, because they are all false. The company may also offer a full refund if the customer is not satisfied. However, you may not be able to connect to their number while trying to receive refund for the same.

Always ask for a name, address and contact number if you receive any such calls trying to sell service contracts. Get in touch with the State Consumer’s Affairs Department or Better Business Bureau to find out the legitimacy of the company or if they are part of the the national auto warranty service fraud problem. Also, shop around for your service contract to make sure that you receive an excellent deal.

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