Extended warranty

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Common knowledge, and correct me if I am wrong, are usually never worth it. I was just going to stick with the 3/36. But I am sure the dealer will push it.
 
Cars today have LOTS of electronics that can fail more so than mechanical. My brother is a head mechanic and Mercury Dealer and he has seen electronics fails and they are costly, especially the infotainment systems especially after warranty. Just my 2 cents no matter what do what you feel is right for you
 
You can buy one later from another dealer online for less than most dealers sell them for. Only buy an OEM Chevy one. The aftermarket ones are mostly garbage and just take your money with no real coverage down the road

To me it just at matter of how long you think you will keep the vehicle.

It’s a gamble both ways. Couple thousand bucks for one if you never use it is a couple hundred bucks more you paid for the car. But use it once and it could be break even right away

Stuff like all the cameras, blind spot radars etc are expensive to replace. Heck radios and sunroofs can be too.


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Extended warranty is great for peace of mind, not so great for your wallet. The companies offering these warranties look for ways not to honor the warranty. Extended warranty from the car manufacturer is the best way to go unless they are selling something from a company like Assurant. It’s a gamble and it depends a lot on the make of the car. If it is Japanese I wouldn’t get the warranty, if European, probably, if American, it’s a toss up. These are generalizations of course. Check out a forum on your car and see what other car owners have had to deal with and go from there. Or just stick the money in a separate savings account and pay for repairs out of this.

I bought a 3 year warranty on my 2011 BMW and nothing has broken in 2 1/2 years, but the peace of mind almost makes it worth it.
 
Yeah, as has been mentioned, if you’re going to buy one make sure it’s manufacture sponsored. There are just so many horror stories out there on the generic ones.
 
atgonzales said:
Cars today have LOTS of electronics that can fail more so than mechanical. My brother is a head mechanic and Mercury Dealer and he has seen electronics fails and they are costly, especially the infotainment systems especially after warranty. Just my 2 cents no matter what do what you feel is right for you
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I agree. The big stuff rarely fails. The electronics and things like air suspensions do. Parts are expensive,too.

A friend of mine has had 3 new transmissions in his Acura. Another had a motor replacement in his Camry. Another had a myriad of electronic gremlins in his BMW. All had the factory extended warrantee. No issues with repairs.

No matter what Consumer Reports says about their favorites,things happen.

It’s a gamble,no doubt.
 
Depends on what. Toyota or Honda....pass. German....get it! only buy manufacturer warranty and shop around for it.
 
Toyota now limits the selling dealer to within your state (cuts down on the competition).
Nobody is looking to lose money by selling it to you but....after the three years is up the cost for a "minor" repair may be a budget buster.
Buy the extended warranty NEAR the end of your factory warranty and you`ll have a better sense of how often your car is in the shop. Plus who knows if you`ll actually own the car in three years? Could get stolen, crashed or taste change...
 
I say no extended warranty. Here is why.

Would you agree that the company offering the warranty is in business to make money?
If you agree with that then they would need to pay out less than they bring in right?
So in that case I would bet they have done MUCH MUCH research and charge enough for each vehicle to make money. And most companies arent just looking to make $5 per warranty sold I wouldnt think.

For me its a NO, big fat NO. If they are selling you the warranty real hard ask them if the vehicle you just bought is a POS? If so you dont want some POS vehicle. lol

Consumer reports says: https://www.consumerreports.org/extended-warranties/extended-car-warranties-an-expensive-gamble/


GOOD LUCK in your decision.
 
The last car I purchased was a CPO with only 7,800 miles on it. It came with an extended 85,000 bumper-to-bumper and a 100,000 powertrain manufacturer warranty. That`s better than the new car warranty. Couldn`t pass up on that deal. I have not had to use it yet at 47,000 miles.
 
I use to work at dealerships as a service advisor. It just depends on what kind of car it is, what kind of luck you have, and what you are willing to spend.

Do you think the car is gonna break down often after the 3/36 is out? Do you plan to keep the car for a long time? How good are you at doing your own repairs? Have the extra money and want to protect your investment?

Also look at what company of the extended warranty the dealership is signing you up with. GM protection plan? Mercury Extended warranty? Fidelity extended warranty? Go with a big name company and look at their coverages, some will exclude things like emission systems and A/C systems etc.. Look into the how many years they extend it too, how many miles?
 
GearHead_1 said:
Yeah, as has been mentioned, if you’re going to buy one make sure it’s manufacture sponsored. There are just so many horror stories out there on the generic ones.
Click to expand...

We bought an extended warranty through the Ford dealership when we purchased a certified pre-owned (CPO) 2015 Taurus. Yes it was a lot more expensive than going through the credit union we obtained the car loan from, BUT there are no-questions-asked IF you ever need it. Yes, they will tell you horror stories about not covering this-or-that from "other" warranties and the cost of repairs to mentioned info/control/touchscreen electronics and how the warranty can pay for itself in ONE repair, which may be true. It also depends on how long you wish to keep a vehicle AND how many miles you drive in a year, which obviously, will use up the warranty. The one from Ford offers a loaner car for free, which can be very important if you absolutely depend on your vehicle for transportation to-and-from work or for your own business.
True story, I bought an extended warranty MANY years ago on a new Subaru wagon because I needed my vehicle to be dependable. My rear wiper motor went out and it was replaced using that extended warranty. The cost of parts and labor for the wiper motor replacement ALMOST made up what I paid for the extended warranty by itself.

If you are taking out a loan, it sometimes can be worked into that loan amount, but you will need to talk to your financial institution providing the loan about that.

Bottom line, should you buy an extended warranty for a vehicle? Depends on:
1) Can you afford it? OR should I just put that money away in an account to draw from for future repairs?
2) How dependable is the vehicle model and manufacturer you are driving in your eyes/opinion?
3) How dependent are you on your vehicle for transportation?
4) How much technology and electronics does the vehicle you drive have that might (WILL!) need future repairs and how much will it cost to do so IF:
a) I plan on keeping the vehicle for more than 5 years? OR
b) I drive more than 30,000 miles in a year?

This also brings up a good point about car insurance: With all this driver-assistance and safety devices/sensors technology, you would THINK that it would be less expensive to insure a vehicle with these features. IT DOES NOT!! While it may save the driver from having an accident, it does not prevent the idiot driver with no insurance from running into you and having to repair said vehicle with all its sensors. Good example: a side mirror with lane-departure sensors cost almost $800-$1,000 to replace, where one without may only cost $350 -$400. Has your side mirror been broken off in a mall parking lot while you were shopping?? Or your rear bumper with its back-up camera and sensors been run into parked in the same mall parking lot? So while a $1000-deductible will save you almost $400 a year in car insurance over a $500-deductible, it may be eaten up in one "technology" claim!!
 
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