Paid $400 for an extended warranty on a used car, then read the fine print too late

Last spring I bought a 2018 sedan from a private seller and the financing guy at my credit union in Columbus pushed their extended warranty hard. I figured okay, peace of mind, so I signed up for $400 over the loan term. Three months later the AC compressor died and I went to file a claim. Turns out the warranty only covers the engine and transmission, nothing else, and the compressor wasn't listed. The shop wanted $850 to fix it. I paid out of pocket and then tried to cancel the warranty for a prorated refund. They said cancellation was only allowed in the first 30 days. So I'm out $400 for a warranty that covered exactly nothing I needed. Has anyone else gotten burned by these credit union add-ons, or is there a way to actually get money back after the window closes?

1 comments

1 Comment

nathanbennett12d ago

So you basically paid $400 for the right to read the fine print later? That's a pricey lesson in paperwork. The real kicker is they probably count on people like us just assuming the word "warranty" means it covers stuff that breaks. Maybe try hitting up the credit union manager directly, sometimes they'll bend the rules if you make enough of a stink.

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