Extended Car Warranty
 

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?

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.

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.

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.

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.

True, but...
 

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.

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.

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.

Or, never keep your car beyond the warranty period.

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.

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.

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.