TEXAS -- Secured Capital Management AKA Penn Warranty Corp
I took my truck in the local dealership for a noisy grinding sound coming from underneath my truck. I gave them my warranty info. The dealership looks at the vehicle the next day and tells me that my truck needs a new transfer case - mine had a hole in it and was shot. I say ok good that's covered by my extended warranty CLEARLY in the paperwork - no problem right? - WRONG!
After a full week of run around and VERY rude agents over the phone(June 27th am - July 3rd pm), the warranty company FINALLY says they will pay $900 for a transfer case and $50 for a drive shaft and up to $75/hr for labor but didn’t specify how much labor and NOTHING else (like the disposal fees the dealership charges and ANY other parts related to the fix)....
I might be ok with this BUT...
Secured Capital told the dealership they have to purchase the parts from a Junk yard and gives them a number! Dealership calls the number. This place says they sell SALVAGED transfer case for 1200 and also that they don't have one in stock. Dealer calls back warranty company with this info and a rude agent said he "doesn't have time to talk to you" and transferred to another agent. This agent sarcastically says "It's funny that you say they don't have the part when they just told me they do. Call them back" - hangs up the phone. The frustrated dealership calls me with this info, but is closing for the weekend and won’t be back in until Monday to try again.
The dealership tells me that a new, under warranty, transfer case is $1500 - $200 more than the place the warranty company says I HAVE to buy the USED one from, but will only cover $900 of it! Dealership says a drive shaft is $300 - $250 more than the warranty company says they'll pay. $50 for a drive shaft? In what world? That means I would have to spend $850+ out of pocket on used parts and who knows how much on labor that NO ONE will guarantee!
Dealership says that they cannot warranty a used component. Secured Capital’s terms state that they will not cover the same part twice - so if my used $1200 transfer case breaks I’m out of pocket the entire bill - AGAIN!
I don’t have a problem with them not wanting to pay for the full price of a part; I know how it all works. BUT I DO have a problem with them requiring I purchase the sub par parts from a junkyard for an outrageous amount that cannot be guaranteed! If you cover X amount, give me or my dealership X amount and let us figure out where to go from there. Don't dictate where I purchase the parts from – these are VERY flaky business practices!
With that being said, I'm still nowhere even if I did buy the part from the junkyard - They say they don't have the part! Secured Capital says they do have the part and we must be crazy!?
Here I am a week without my vehicle and NOWHERE on a solution. My dealership cannot start work until they have the parts and a CLEAR answer from the warranty company.
I want Secured Capital to stand up to their claim, stop lying and being rude to me or my dealership, and give me the answers I need so that I can get my vehicle repaired!
WHY IS THIS TOO MUCH TO ASK?
I have NEVER IN MY LIFE had such horrible service and experience from a business! These people are rude, deceiving and are very blatant about not caring about me or my concerns.
My humble opinion is to learn from my mistakes and and NEVER purchase a warranty from this company!