Extended Car Warranty

[yabbadu]

Extended Car Warranty - Considering purchasing an Extended Vehicle Car Warranty . My car is 2019 and about to exceed 36K New Vehicle Warranty.
Have done considerable research Online about subject.

Question: For those who have done this can you please share you experiences/thoughts on this subject. Experienced users only.....

Greatly Appreciated :pray:

[Pinball wizard]

Extended Car Warranty - Considering purchasing an Extended Vehicle Car Warranty . My car is 2019 and about to exceed 36K New Vehicle Warranty.
Have done considerable research Online about subject.

Question: For those who have done this can you please share you experiences/thoughts on this subject. Experienced users only.....

Greatly Appreciated :pray:

What car is it?

[Michael G.]

Most financial people will tell you take the $$$$ and invest it on your own just incase.
Extended warranty's are a gamble and expensive, like spending the afternoon at Hard Rock casino.

[Road-Runner]

Totally depends on the car. Bought one for a Toyota Tundra, never had a claim. Bought one for a GMC Suburban years ago probably saved me close to $10k during the life of the vehicle. Overall, I'd say I saved more than I spent on them through the years.

[jdulej]

Extended Car Warranty - Considering purchasing an Extended Vehicle Car Warranty . My car is 2019 and about to exceed 36K New Vehicle Warranty.
Have done considerable research Online about subject.

Question: For those who have done this can you please share you experiences/thoughts on this subject. Experienced users only.....

Greatly Appreciated :pray:

I have done this a couple of times. One time with a new Mercedes and again with a used BMW. In both cases, it was just a "peace of mind" choice. I bought both from the dealer and yes, they were expensive. The Mercedes one paid for itself after two repairs and there was absolutely no hassle using it even though we bought the car in California and had the repairs done after moving to FL. I have not used the BMW one, but still have two years left on it.
I would be wary of after market, non dealer provided warranties, but I may be wrong about that.
Most people will tell you it's a waste of money. I guess it is, until it isn't.

[Malsua]

Extended Car Warranty - Considering purchasing an Extended Vehicle Car Warranty . My car is 2019 and about to exceed 36K New Vehicle Warranty.
Have done considerable research Online about subject.

Question: For those who have done this can you please share you experiences/thoughts on this subject. Experienced users only.....

Greatly Appreciated :pray:


It all depends on the vehicle.

I would only consider it on a Japanese or Korean vehicle that had a turbo.

I _DEFINITELY_ wouldn't own an Audi that wasn't under some kind of warranty. Same for any German car. My friend was the service manager at an Audi dealer for many years and the stories he would tell would make your wallet melt.

I also wouldn't own a Range Rover/Land Rover or Jaguar without some kind of warranty. There's a guy on youtube that had something like 16k in repairs covered under the extended warranty on his Range Rover.

Most of the time, it's simply not a good idea to get the extended warranty. You're just lining someone's pockets.

If your car is expensive and difficult to maintain, it may justify. An Audi for example, has to go into service position to swap out a head light. This involves removing the front clip. It's a multi-hour job.

[fdpaq0580]

Most financial people will tell you take the $$$$ and invest it on your own just incase.
Extended warranty's are a gamble and expensive, like spending the afternoon at Hard Rock casino.

This is true. An extended warranty is, in essence, insurance. If you need it, you'll be glad you got it. If you don't need it, you'll believe you wasted your money.
Most folks won't invest or save in a special account for auto repair or replacement. Even if they do, they see it as their money, not warranty bucks, and it hurts more (emotionally) to spend it.
Like a Christmas club account, even though it may not be the best way to ensure you have expense covered, it will keep you from spending it before you might actually need it.
So, spend it now, or spend it later? It's your money, it's your decision.

[njbchbum]

To me it's a matter of peace of mind. Always purchase it at the same time the car is purchased when it is the least expensive. I just hold my nose with one hand and sign the paperwork with the other. Done! It can't keep me from losing any sleep.

[retiredguy123]

According to Clark Howard, you can buy an extended warranty from the manufacturer, but, the one the dealer wants to sell you is not from the manufacturer, it costs a lot more money, and it makes a huge commission for the dealer.

I think all extended warranties are a waste of money.

[vintageogauge]

Or, never keep your car beyond the warranty period.

[EdFNJ]

Just make sure you get a FACTORY WARRANTY not 3rd party. I had bought a new 2013 Toyota RAV 4 (in 2013) in NJ and searching the web found a Toyota dealer in Kansas that sold them for 40% off and YES it was legit and I had no problem using it multiple times in the 7+ years I had the car in 3 different states. Depending on the vehicle you might be able to find another dealer or your selling dealer willing to sell them at a discount. Usually you can still get the FACTORY warranty as long as the original is not over.

[laryb]

If you wait an hour, you will get an anonymous phone call from a total stranger that can answer all your questions about extended warranties. I've had 4 calls today

[Stu from NYC]

If you wait an hour, you will get an anonymous phone call from a total stranger that can answer all your questions about extended warranties. I've had 4 calls today

And they are all in California and they are the warranty division.

[Babubhat]

There are 1400 semiconductors in most vehicles. The software and electronics are expensive to fix. Depends on the make and model reliability. No longer can you make a blanket statement the warranty is not a good deal. Even 5 year Toyota and Honda have needed expensive repairs. Quality not what it used to be

[retiredguy123]

There are 1400 semiconductors in most vehicles. The software and electronics are expensive to fix. Depends on the make and model reliability. No longer can you make a blanket statement the warranty is not a good deal. Even 5 year Toyota and Honda have needed expensive repairs. Quality not what it used to be
Respectfully, I don't agree. It is not a good deal, if you can afford to pay for your own repairs. On average, extended warranties only pay out 8 percent of the premiums they collect.

[DAVES]

There are 1400 semiconductors in most vehicles. The software and electronics are expensive to fix. Depends on the make and model reliability. No longer can you make a blanket statement the warranty is not a good deal. Even 5 year Toyota and Honda have needed expensive repairs. Quality not what it used to be

Quality is not what it used to be? Cars are far different than they used to be. You used to need to do a tune up at 10,000 miles an oil change at 2-3,000 miles. My current car, is far larger, safer and more comfortable than an air cooled VW, I owned two of them. Both get/got 30 miles to the gallon on the highway. My previous car, the spark plugs had 100,000 miles on them. I changed them as a treat for my car.

Someone mentioned headlights. Long gone are standard parts where you could go to a department store, you needed either the round ones or the rectangle ones and they cost like $2.00. Today they are proprietary parts, they will only sell you the assembly and the cost is like $600 plus labor to put it in

[vb993]

Or just buy a Hyundai/Kia with a 5 year bumper to bumper warranty and 10 year drive train warranty. Bought a 2007 Hyundai and now 125,000 miles and never a problem. If you want to show off in an expensive vanity car just to make people think you're important get ready to pay.

[Michael G.]

Or, never keep your car beyond the warranty period.

Why didn't I think of that.

[Dahabs]

Or, never keep your car beyond the warranty period.

That is an option. However, the extended warranty is likely less expensive than the depreciation on your new vehicle as you drive it off the lot.

[DaleDivine]

If you wait an hour, you will get an anonymous phone call from a total stranger that can answer all your questions about extended warranties. I've had 4 calls today

Yep, I think I average about 10 a day. On cars I sold 15 years ago and everyone I've owned since...
:ohdear::ohdear::ohdear:

[DaleDivine]

Or, never keep your car beyond the warranty period.

Exactly...
:bigbow::bigbow:

[brines]

If you wait an hour, you will get an anonymous phone call from a total stranger that can answer all your questions about extended warranties. I've had 4 calls today

only 4 calls whats your secret ive got 9 calls in the last 24 hours:bigbow:

[spinner1001]

Extended Car Warranty - Considering purchasing an Extended Vehicle Car Warranty . My car is 2019 and about to exceed 36K New Vehicle Warranty.
Have done considerable research Online about subject.

Question: For those who have done this can you please share you experiences/thoughts on this subject. Experienced users only.....

Greatly Appreciated :pray:

I have the experience of researching this kind of question. It is an insurance question.

If you don’t want to be self-insured and don’t mind paying the premium, then buy. If you can self-insure and have the means to pay for car repairs occasionally, then don’t buy.

Most modern cars are made well and don’t need serious repairs until the mileage is well past 36,000.

Be aware of the limitations of the warranty. You may not be buying what you think is covered.

I don’t buy car extended warranties.

[westernrider75]

We purchased it from the dealer on our 2 year old Ford F-150 and it paid for itself at least 2 times over. We just replaced that truck with. Ram 1500 and also purchased it. The Ram extended warranty is a bumper to bumper version.

[donfey]

After the second rack & pinion failure on my 2008 Ford Taurus, (luckily paid for by Ford as the first replacement failed after 11 months,) I asked the Ford Service Manager which (if any) Warranty company paid claims with the least hassle. He said Route 66. I researched Route 66 on line and decided to purchase from them, only to find out they sold only through lenders. I ended up buying from my credit union. It covered everything except wear items, just like a new car warranty. My maximum exposure was $100 per event. It paid for itself. My next car - a 2016 Taurus - was still under factory warranty, but I both the Route 66 warranty anyway - to 7 rears & 125,000 miles. I recommend it.

[Pres1939]

Extended Car Warranty - Considering purchasing an Extended Vehicle Car Warranty . My car is 2019 and about to exceed 36K New Vehicle Warranty.
Have done considerable research Online about subject.

Question: For those who have done this can you please share you experiences/thoughts on this subject. Experienced users only.....

Greatly Appreciated :pray:
Only buy a warranty if the company will give you a written definition of what repairs they will NOT cover. There are so many parts in cars these days that describing what they WILL cover leaves you open for constant battles with the warranty company over whether the repair is covered or not. Make them specify what they will NOT cover. That will protect you. If they will not do it, walk away.

[retiredguy123]

Only buy a warranty if the company will give you a written definition of what repairs they will NOT cover. There are so many parts in cars these days that describing what they WILL cover leaves you open for constant battles with the warranty company over whether the repair is covered or not. Make them specify what they will NOT cover. That will protect you. If they will not do it, walk away.
Good luck with that. The warranty is written by lawyers and it has a section explaining the "exclusions". No one selling extended warranties is going to put anything additional in writing. Even if they did, it would not protect you.

[frank1975]

I bought mine 2018 at the dealer when purchased new. 6 yrs/100,000 miles. All you need to do is google "best extended auto warranties". You'll get a up to date listing on the best ones. Good luck!!!!

[MidWestIA]

I bought it with Toyota ONLY because they have so damn many computers in them now

[Jdburns11]

These are generally not good deals - invest the money you would spend for the warranty on normal & proactive maintenance and repair in concert with the manufacturer’s recommendations and you will be fine most of the time.

I’ve known some had to fight claims for various “uncovered” reasons which then makes me wonder how much piece of mind is there if the warranty issuer is financially incentivized to not pay for all kinds of things which are likely in the small print.

For those that have expensive cars, with expensive maintenance - they can likely afford the occasional issue.

No thanks. Not for me. Respectfully, DB

[Driver8]

I purchased a manufacturers extended warranty for my vehicle. I played a little hardball with the salesman trying to sell me an EW, refusing his sales pitch until he gave me a figure that was much lower than original price, so I bought it. Just for peace of mind because the car is used. These dealers always inflate the price on these.

[sullys]

Extended Car Warranty - Considering purchasing an Extended Vehicle Car Warranty . My car is 2019 and about to exceed 36K New Vehicle Warranty.
Have done considerable research Online about subject.

Question: For those who have done this can you please share you experiences/thoughts on this subject. Experienced users only.....

Greatly Appreciated :pray:

Mine is a 2019 Toyota Camry - 5 years or 120K miles. It extends the warranty on the car as initial purchase. Some are worth it, others not so, read what it covers. Understand your auto's maintenance records for that make and model. Consumer reports does a nice car comparison based upon inputs from car owners.

[yabbadu]

It is a Chevrolet Equinox.......

[Stu from NYC]

I purchased a manufacturers extended warranty for my vehicle. I played a little hardball with the salesman trying to sell me an EW, refusing his sales pitch until he gave me a figure that was much lower than original price, so I bought it. Just for peace of mind because the car is used. These dealers always inflate the price on these.

They seem to make more money on the EW than on the car itself.

When we bought our last car agreed on price and than the warranty guy comes in and tries to sell us a half dozen different warranties to protect our "investment".

If the chances are that good you will need the warranty perhaps you bought the wrong car.

[Seasonal]

Just purchased an extended plan on my Honda with 30,000 miles on it. If you search around with Google, you will likely find dealers that are selling factory plans at a deeper discount than your local dealer. In the past, I have taken the low internet price into my dealer and asked for a price match. This time around, I purchased from the low dollar, on-line seller.

This price match works if buying an insurance plan when the vehicle is new. There is a significant amount of mark-up on these plans and local dealers know this. When the discussion starts in the finance person's office when you are closing on your fancy new vehicle, it gives you some leverage if you have a printed quote with you. They also sell service plans on-line if you are interested in them.

Good luck, lots of good comments on this thread from others. :coolsmiley:

[TCNY61]

There are 1400 semiconductors in most vehicles. The software and electronics are expensive to fix. Depends on the make and model reliability. No longer can you make a blanket statement the warranty is not a good deal. Even 5 year Toyota and Honda have needed expensive repairs. Quality not what it used to be

My wife's Honda Pilot (3 years old) needed all new injectors for $1400 setting a check engine light due to a common issue in manufacturing. We had an extended warranty.

[Speedie]

Respectfully, I don't agree. It is not a good deal, if you can afford to pay for your own repairs. On average, extended warranties only pay out 8 percent of the premiums they collect.

I used to sell the warranties to/thru dealers. The normal pricing gives 50% of what you pay directly back to the dealer.
Thats why they push them so hard.

[Lil GTO]

I trade my vehicles every 2-3 years always under factory warranty. I haven’t replaced brakes, tires, wiper blades since 1989 and don’t plan on it.

As a person that made a living in the car business extended warranties are only good after the factory warranty expires.

So you buy it when you purchase the car say a 5 year contract you’ll be paying for a warranty period that is already covered by the factory and your 5 year warranty ends only really helping for 2 years.

Waiting till factory is almost expired you’ll get a good deal on the warranty and you’ll be paying for time and miles that you actually need coverage for.

Personally li like to let the new owners do the repairs and settle into a new one.

Lots of good deals right now on left overs and you’ll get 2-3k more for your trade than ever before but that will heal itself in a while.

[OhioBuckeye]

Most financial people will tell you take the $$$$ and invest it on your own just incase.
Extended warranty's are a gamble and expensive, like spending the afternoon at Hard Rock casino.

That’s exactly right! I’ve never bought an extended warranty, but if you pay $700. to $800. Dollars for 5 yrs. it might be worth it, anything less your taking a gamble. I must be lucky because most of the cars I buy I drive them anywhere from 5 yrs. to 7 or 8 yrs. but then again I do a lot of work on them myself. The ladies should buy the extended warranty, ladies usually drive them a little longer than the guys!

[EdFNJ]

Lots of good deals right now on left overs and you’ll get 2-3k more for your trade than ever before but that will heal itself in a while.

LOL, good deals? Where? Have you been reading/watching the news over the last 6 months? Evidently not. They give you a few grand more for your vehicle but you pay out the arse for the next one if you can even find one on a lot. "Leftovers" are like (literal) gold for dealers now because they can't get hardly any new ones. Then you have to deal with the $10,000 for pin-striping and a car wash "profit add-on sticker" on the windows.

[nn0wheremann]

Extended Car Warranty - Considering purchasing an Extended Vehicle Car Warranty . My car is 2019 and about to exceed 36K New Vehicle Warranty.
Have done considerable research Online about subject.

Question: For those who have done this can you please share you experiences/thoughts on this subject. Experienced users only.....

Greatly Appreciated :pray:
I bought the extension of the new vehicle warrantee with my new 2017 Subaru. Bumper to bumper for 80,000 miles. With 75,000 miles, I have had one claim on it so far, to fix an ignition switch. A couple of months later Subaru extended the factory warranty on that part to eight years, unlimited mileage. The extended warranty has been, thus far, useless. We had one on a used Ford we bought from Carmax. That warranty covered about $200 more in service charges than it cost. If you have sufficient cash or credit to float the cost of repairs, extended warranties are not a good buy. They are basically an insurance policy.

[Stu from NYC]

I bought the extension of the new vehicle warrantee with my new 2017 Subaru. Bumper to bumper for 80,000 miles. With 75,000 miles, I have had one claim on it so far, to fix an ignition switch. A couple of months later Subaru extended the factory warranty on that part to eight years, unlimited mileage. The extended warranty has been, thus far, useless. We had one on a used Ford we bought from Carmax. That warranty covered about $200 more in service charges than it cost. If you have sufficient cash or credit to float the cost of repairs, extended warranties are not a good buy. They are basically an insurance policy.

Agreed. Insurance policies should be for catastrophes such as on life, home or auto accidents.

[MX rider]

There's no real right or wrong here. Everyones situation and comfort level is different. I bought a new 2020 Silverado about a year ago. I'm not retired yet and drive quite a few miles for my job. I knew I was going to keep my truck into retirement and wanted the peace of mind of an EW.
I'm about a year way from retiring now. I'm glad I bought it.

[Ecuadog]

...

If the chances are that good you will need the warranty perhaps you bought the wrong car.

Bingo.

[DAIII]

My experience.. And I was the boy buying extended for BMW/Benz with each purchase. (I do know for a fact- as I've seen the paperwork) sent to me in error the dealer pays half of what you pay. (this is for the BMW/Merc Benz warranty no 3rd party mumbo jumbo)

In conclusion:

No, (for me) as the car manufacturers spend a lot of money with an attorney to design the contracts and they have the data (all the service repairs from all over) to know exactly what will fail.. and when. read the contract one day- amazed at what is NOT covered. If I remember right besides no belts or hoses... AC compressor wasn't included with AC failures.

Not to mention I sat in the service area when the service manager made cash deals with the NON warranty people who had cars in for service.. - cash is still king. (IMO)

[Skip]

When they call to tell me my warranty is up and ask for the brand of my vehicle.
I answer Schwinn !
One guy tried to look it up he was so young. :icon_wink:
Skip
https://www.hankplayer.com/wp-content/uploads/print-schwinnpatent.jpg

[RICH1]

contact your Manufacturer Not the dealer!
every warrantee is negotiable! OR TRADE and Apply the money toward a new car!

[jpvillager]

Take a close look. Some do not cover electrical which is where the expensive repairs are.

[Flyers999]

Yes.
Whenever I buy a "new" car, I always get something less than 2 years old and less than 20k miles, but always with the 100k miles, 7-year , bumper-to-bumper warranty. I have always gotten a great deal along with peace of mind.
I get the warranty because I figure that I may be buying a lemon-- that maybe that's why the car was so cheap.
And whenever it needed repair, I would go into the service center and proudly announce that "the car is under warranty."

Ok, it only paid for itself once, but in that case the repairs were twice the cost of the warranty.

I should mention that I would not purchase a warranty if buying a brand new car.

BTW I'm currently in the market for a "new" car, being an owner of a 2007 and 2009. Looking for a 2018-2020 Camry or Accord. Kicking myself for not buying last year. No way will I get a "great deal" again any time soon. I read an article yesterday that it will be around 18 months before the industry has an adequate supply of semiconductors.

[Michael G.]

Quality is not what it used to be?


As it shouldn't be for what we pay.