[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]

Originally Posted by 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

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]

Originally Posted by 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.

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.

[TCNY61]

Originally Posted by 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

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]

Originally Posted by retiredguy123

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]

Originally Posted by 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.

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]

Originally Posted by Lil GTO

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]

Originally Posted by 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

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]

Originally Posted by nn0wheremann

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]

Originally Posted by Stu from NYC

...

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

Bingo.

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)