After market/OEM warranties on used trucks

Ask @Farmerbob1

 

Just do a search on the site for "warranty". There are plenty of first hand accounts of people getting screwed over.

 

I cannot speak to how you might get an OEM extended warranty for a used truck, but in many cases used trucks are sold with at least some OEM warranty remaining on them from the original purchase.

As for buying a third party warranty, I will never do so again, if I ever buy a used truck again, which I likely will not.

To make a long story short, I bought a third party warranty for a bit less than 6,000 dollars.

About 50k miles after the factory warranty expired, I took my truck into a shop with coolant loss issues.

After 33 days, I left that shop after having found and repaired/replaced an exhaust gas cooler, a cracked head, and a scored cylinder. The third party insurance company fought tooth and nail to avoid paying for any of it. If I hadn't kept careful maintenance records, I strongly suspect I would have been stuck with the whole bill.

The third party insurance saved me about half the total cost of service for an engine rebuild and EGR cooler replacement.

BUT because they fought so hard, and wasted so much time, a job which could have easily been done in two weeks took nearly five weeks.

Cost of warranty @ 5.5k
Cost of extra downtime @ 19 days lost. @ 10k
Cost of hotel for 19 extra days. @ 2k

Total costs generated due to having the warranty was @ 17.5k

The warranty paid out @ 14k.

So, having the third party warranty actually cost me several thousand dollars in real money.

HOWEVER. A lot of this cost was due to me being far from home at the time of repair, and having the job done at a dealership.

If you are driving regional or local, and have a small non-dealership shop near you that the third party warranty will work with, the numbers might work out better for you, but I doubt it.

People do not sell aftermarket warranty services in order to help you. They do it to make money for themselves. That means that their primary goal in any claim situation is to stick you with as much of the cost of any repair as they can.

 

After market warranty was the most money I've wasted in this business.

Think mine was like $4K. It doesn't cover the stuff that breaks a lot ( gaskets, seals, wiring).

I tried twice for a claim on wiring and DPF filter. Denied. Plus the stuff has to be authorized before hand.

Time is money. It's the biggest waste of money in trucking.

OEM warranty, at least Freightliners is, outstanding.

 

Yes it’s called the Cummins XT1 Encore 2nd owner warranty. You must be the 2nd owner and be under 6 yrs 600k. They inspect the engine and if all looks ok it’s $4500 or so I believe and covers for 2 yrs 200k more miles.

It’s a must if your buying a used truck IMO. Saved my butt on 2 different ISX rebuilds values at 30k each.

 

Several customers of mine had Premium 2K? They are very specific about coverage, but if an item was covered, they had no issues paying for repairs.

Shop owners don't like warranties because you usually end up waiting months to get paid. I know personally that if we submitted a claim with an estimate and pic of failed part, if repairs were approved, payment was made by CC as soon as repairs were completed.