Autosource ESP extended warranty

[mtbguy]

Earlier this year I paid top dollar for a 1987 carrera which was a beautiful, very low mileage (maybe) Cabriolet, and also spent top dollar on a warranty policy with a company that Victory Motorcars said they had very good luck with- Autosource ESP of Toms River, NJ- crooks!
I also trusted the Carfax I had but who knows if it was correct?

Now my car needs a complete top overhaul and 25 year Porsche veteran master mechanic asked me if the Carfax was legitimate. It has broken rings and damaged valve guides and is now in the shop with a close to $6000 repair estimate.

To top it off, the warranty company is denying any coverage and I'm going to have to sue them, which will cost another $4000-5000 dollars.

All in all, this will turn out to be a $36,895 mistake because I did not get a leakdown test as I should have. Car price $25000 + worthless warranty (Autosource ESP of New Jersey) $1895 + $6000 engine rebuild + $ 4000 in legal fees.

Buyer beware! (And hope you have/know/are a good attorney).

Don't be a trusting sap like I was and avoid the leakdown/compression check because the car has 33,000 miles on it. I now have a spouse who wants either a) the car to get sold or b) divorce; and an engineless 911 sitting in a warehouse across town......................

Yes, these are OLD cars, but if they are going to sell a policy to help alleviate the problems anticipated, then somebody needs to step up to the plate and take care of this.

[mtbguy]

For those of you who have followed my top overhaul problem. The warranty company policy that Victory Motors sold me (Autosource ESP) is still worthless. They have denied any responsibility for payment, and now after getting my attorney involved they have still stonewalled and been uncooperative.

I thought last week they were re-considering the claim and they were actually going to do the right thing, but I was mistaken. They were just playing a game with me that insurance companies do when they think they will wear you out and then eventually win.

I will now have no choice but to litigate/arbitrate.

These extended warranties end up costing you more than the actual top overhaul by the time you factor in legal fees, and the money you wasted by purchasing the worthless contract to begin with.

You lose, they win......

[JeffreyNMemphis]

Don't fret brother, a 1987 Cab with 30,000 miles with a fresh rebuild is worth close to $30k. If you win the case, you will also get your attorney fees. It is a drag, but don't let the bastards grind you down.

[mtbguy]

Thanks Jeff- its has been really getting me depressed, but I will not give up.

Don't fire until you see the whites of their eyes!!!!!!

[JeffreyNMemphis]

How is your motor rebuild coming along? You will feel a lot better about the situation when you can drive your car.

[mtbguy]

I went and looked at it two days ago. The heads had been machined, new head studs and cams in position and I think they were about to put the pistons and cylinders back together.

I'm not sure how much more labor is involved, but I'd guess its 70% complete?

I'm repainting my engine crossmember this weekend and had a few parts powdercoated last week- they will be ready today also.

Hopefully I'll get it back in a week or so.

I'll feel alot happier then, just be facing some very large bills!

[JavaBrewer]

If court costs are going to approach $5K why even bother? More damage can be done working to get their Ebay rating tarnished and the internet flooded with real world experiences like yours.

In the end you'll have a sweet 911 with a rebuilt motor that cost you more than anticipated. We've all made our mistakes in life - at least you have a 911 to take your mind off things

[Type911]

Why was the claim denied? Pre-existing condition?

One really has to read the fine-print on these aftermarket extended warranties. Ask yourself if you would insure someone's
20 year old Porsche for mechanical issues? The answer to that question pretty much defines the scope of coverage & exclusions.

Dont waste your time & $$ fighting the insurance company,
cancel the contract, apply the premium refund towards the repair bill & move on.

[mtbguy]

If I go to arbitration I can get my attorneys fees awarded back. (Although as people have mentioned it is sometimes hard to get shysters to pay up).

Warranty people said the damage to my engine (broken oil rings and damaged valve guides) were normal wear and tear. I honestly don't know if they were pre-existing conditions or not, but do know it passed emissions with flying colors a few weeks before, and I have babied it the whole time I've owned it. I don't think the engine had ever been opened up before (except for valve covers). The valves were adjusted about three times in the last year and a half.

I did read the fine print and these things are supposedly covered, but you are correct in saying that you never really win these cases!

And lastly, there is NO WAY I would want to issue warranties in old cars like this if I were going to start my own business. But these people at Autosource decided to do it, so they should honor legitimate claims. They even had a "Porsche upcharge/surcharge" on the contract.

Lesson learned!

[mtbguy]

Originally posted by dmoolenaar
If court costs are going to approach $5K why even bother? More damage can be done working to get their Ebay rating tarnished and the internet flooded with real world experiences like yours.

In the end you'll have a sweet 911 with a rebuilt motor that cost you more than anticipated. We've all made our mistakes in life - at least you have a 911 to take your mind off things

The engine is looking almost complete now and I am very excited by that at least.

[mtbguy]

The warranty company (AutoSource of America) tried to "throw me a bone" by offering to pay $1800 towards my repair, which is just like giving me my money back for the warranty but doesn't help with the now $6300 repair. They have not responded to the BBB or state board of insurance with anything other than its "pending litigation".

I went ahead and "pulled the trigger" this week to start litigation with these people to get something resolved. Its a shame that no-one can stand up for their name or that of their company anymore.

The good news is the car will be finished in the next few days and at least I'll get to drive it again......

[the]

Good luck. It would be interesting to see your actual policy language, particularly the inclusions and exclusions pages.

Hard to imagine that broken rings and bad valve guides would be considered by any reasonable person to be "normal wear and tear" on a 35,000 mile car.

Does the contract require mediation and/or arbitration? They often do. Does it have an attorney's fee provision?

[WPOZZZ]

Originally posted by mtbguy
The warranty company (AutoSource of America) tried to "throw me a bone" by offering to pay $1800 towards my repair, which is just like giving me my money back for the warranty but doesn't help with the now $6300 repair. They have not responded to the BBB or state board of insurance with anything other than its "pending litigation".

I went ahead and "pulled the trigger" this week to start litigation with these people to get something resolved. Its a shame that no-one can stand up for their name or that of their company anymore.

The good news is the car will be finished in the next few days and at least I'll get to drive it again......

Can you hit them with a "bad faith" lawsuit? Awards from that type of suit are $$$$$$.

[mtbguy]

Hi Bryan- I can't sue because of an arbitration clause. They offered a very small settlement amount which actually would put me behind financially because of the attorneys fees.

An arbitration hearing should be pretty soon, and I don't believe they have much of a leg to stand on, but they have done everything in their power to wear out "the little guy" in this case. They even lobbied to have the venue in their own state of New Jersey, although every other party involved in the case is in the state of Georgia.

It blows me away the length insurance companies will go to fight legitimate claims and I will never get an extended warranty on a car ever again (and especially not one from Victory Motorcars!)

Have a good one.......