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Planet Money

About Your Extended Warranty

Planet Money

NPR

Business, News

4.630.5K Ratings

🗓️ 9 April 2021

⏱️ 24 minutes

🧾️ Download transcript

Summary

Calls about "extended auto warranties" blow up our phones over and over. But what are these robocalls actually offering? | Subscribe to our weekly newsletter here.

Transcript

Click on a timestamp to play from that location

0:00.0

This is Planet Money from NPR.

0:04.0

Hi, this is Suzy calling with the Vehicle Service Department.

0:10.0

Hey Suzy, what's up?

0:12.0

We are calling about your vehicle's manufacturer's warranty.

0:15.0

My what? My vehicle's what?

0:17.0

We sent you several notices in the mail that you have yet to extend your warranty past the factory cutoff.

0:22.0

Oh God, I don't remember you sending me anything.

0:24.0

And this is a courtesy call to renew your warranty before we close the file.

0:28.0

Is that bad? That sounds bad.

0:30.0

Okay, like everyone else, I usually just ignore these messages.

0:35.0

But the other day, and I don't know if it's pandemic brain fog or what,

0:39.0

but I had to really think about Suzy's message.

0:42.0

Like, I have to renew my insurance, my license, my registration.

0:47.0

Did I forget to renew my warranty?

0:52.0

Hello and welcome to Planet Money. I'm Amanda Aronchick.

0:55.0

And I'm Mary Childs, here to talk to you about your car's extended warranty.

0:59.0

Because you are not the only one getting these calls.

1:02.0

These calls are relentless.

1:05.0

The FCC, the Federal Communications Commission, says that for the past year,

1:09.0

this is the number one RoboCall, number one by a huge and growing margin.

1:14.0

Today on the show, the rise and fall of the biggest, baddest auto-warrenty company.

1:20.0

How the industry came crawling back, and how those calls became a frustratingly familiar part of our daily lives.

...

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