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Mepco Finance Corporation / Not Covering Warranty

PO Box 5978Carol Stream, IL, United States Review updated:
4.65
Contact information:
Phone: 800-397-6767
Smooth talking salesmen from Mepco calls us telling us our warranty was getting ready to expire and if we would like to extend it in which we agreed to do so. We asked him when does it start covering us? He mentioned since we already had warranty that it would be effective as soon as we renew with them. We agreed to purchase the warranty and two months later our car was acting up and when we called they said they will not help us in fixing it because there was a 90 day period that we were not aware of since the smooth salesmen never mentioned. BE VERY CAREFUL with these people everything sounds so good at the begining and when your car acts up there are grey areas in which they tell you or is not on the contract that keeps them from paying when your car breaks down. Tried to get our Down Payment plus two months worth of payments total $500 dollars and they said they cannot give us our money because it has been past 30 days since we purchased the warranty. They RIP US OFF so be careful and DO NOT I Repeat DO NOT USE MEPCO FINANCE CORPORATION!!!
Ji
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Ov
  24th of Feb, 2009
Agree Disagree +1 Votes
BTW, Mepco Finance Corporation is simply that. A finance corporation. All they did was finance the extended warranty you purchased through a different dealer... If you have a beef, it'd be with the company you purchased the extended vehicle warranty from. Mepco doesn't sell warranties, they just finance them.
Ex
  30th of Jan, 2010
Agree Disagree 0 Votes
I agree witht he couple and have had a similar problem with MepCo and US Fidelis. I believe that they are working together to rip people off. MepCo supposidly financed by purchase of a extended warranty and when I needed it said that they had dropped me for non-payment. They never notified me or US Fidelis and they have been deducting payments from my checking account EVERY month on the 17th for the last 7 months so where are my payments going. I amvery upset and I am going to refer my case to the Texas BBB with hopes to join the class action lawsuit. This is Not fair, I work too hard to have people take advantage of me like this. See, if I were to find these people and kick their ### then I would ne in the wrong and face assault charges but what is happening to them, not a damn thing.
Pi
  3rd of Mar, 2010
Agree Disagree 0 Votes
i purchased an extended warranty through mepco as well, and my vehicle was stolen, and when i tried to cancel the warranty they told me that i could not do so. so i canceled my auto payment with them, hoping that the problem might " go away" if they no longer received any money anymore. after one month no payment they started charging my account again with out me or my Banks permission!!! i am extreamly upset about this and like you said i con not just fly up there and kick someones ### either. so any one who can tell me about a lawsuit aginst these people, please email me at ch_circlei@yahoo.com, "subject: insurance fraud lawsuit " thank you
Tr
  24th of May, 2010
Agree Disagree 0 Votes
I purchased an auto warranty from StopRepairBills.com on 05/05/2010. The salesman on the phone told me that I had30 days to review the materials and to cancel. I called them back on 05/07/2010 to cancel the agreement only to be battered by two different people trying to stop me from canceling. After about 15 minutes of going back and forth with them, I was told that I had to submit a "Letter of Cancellation". I then was put on hold for another 5 minutes, then the salesman gave me the address to mail the "Letter of Cancellation".
On 05/24/2010 I received a "Notice of Acceptance" from "MEPCO FINANCE CORP." listing my down payment and terms of the loan. I tried to call them at the toll-free number on the contract but, a recorded message said I needed a access number to call this number. I WOULD NEVER DO BUSINESS WITH EITHER OF THESE ORGANIZATIONS!!!
Pi
  15th of Dec, 2010
Agree Disagree 0 Votes
I got screwed big time by MEPCO and First Choice Warranty Corporation. I paid them over 700 bucks for a warranty, but when it came time for them to honor their promises, they denied every single claim, leaving me with a $4000 repair bill even after the salesman assured me they would be covered only a month earlier. I wasn't ever able to speak with a claims person. The receptionist on the phone basically fielded all the calls and denied responsibility for paying anything. I was furious.

The service manager at the repair shop said "oh no, not these guys" when looking at my warranty policy for the first time. She said they were "the worst" in the business. When I sent a letter to them demanding my money back, I was told that First Choice Warranty had "gone out of business" and that Mepco couldn't help me, since "they only finance premiums". Frankly, I don't care what their role is, they are all in on it and responsible for the rip off. The son of a [censor]es even placed me into collections when I refused to make any further payments.

DO NOT EVER DO BUSINESS WITH THESE SLEAZEBAGS.
An
  31st of Dec, 2010
Agree Disagree 0 Votes
I too got suckered in on an extended auto warranty from these sheisters, they never covered ANYTHING that subsequently broke even though it was supposedly a 'bumper to bumper' warranty. Stopped getting bills after my last repair submission so they probably decided to 'drop me' for whatever reason. Haven't heard boo from them and put out way too much money for NOTHING. The repair I needed was supposed to be covered as I went over that type of thing with the sales person 'just in case'. I only wish I had searched their name and found this site... Damn the luck.
So
  22nd of Mar, 2011
Agree Disagree 0 Votes
i also was scamed i had two policys the one i cancelled rigth before us fildelis bellyed -up, in the process i didnt get a cent back from the company. now iam in the process of canceling the other one it has been paid in full now they cannot find my file all of the sudden now iam waiting to get a call- back from the manerger.-------------- still waiting.
Le
  9th of May, 2011
Agree Disagree 0 Votes
Warranty run out 2009. One year after i pay it off
Ti
  25th of Jun, 2011
Agree Disagree 0 Votes
i am having the same problem that everyone else is having i took my car to the dealership to get my head gasket fixed and was told that the warranty did not cover it i was also told when i purchased the warranty that it would cover me from bumper to bumper i thought that would be cover because it is part of the engine i was so wrong the saleman told me i should file a complaint. and now i cant get in touch with no one to talk to about my problem since taking my car into the shop to be fix so if someone out there know of a suit that is going on for these company please let my know i am still paying for my warranty
Ti
  15th of Jan, 2013
Agree Disagree 0 Votes
THEY ARE STILL RIPPING PEOPLE OFF IN 2013 !!
MEPCO IS STILL OUT THERE DOING THIS !
WHAT DO YOU DO IF YOU GET CAUGHT UP IN THIS SCAM ?
HAS ANYONE GOTTEN ANY RESOLUTIONS ?
PLEASE TELL ME !!

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Mepco Finance Corporation Logo Mepco Finance Corporation
Customer Service
Overall Satisfaction Rating

15 Reviews
205 North Michigan Ave Suite 2200
Chicago
IL
United States - 60601
+1 866 656 6518
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