Jax Snacks Posted August 30, 2011 Share Posted August 30, 2011 What is your opinion of extended "warrenties" for cars? Any one have such a contract? If so, are you happy with it? Or should they be avoided like the plague? Just want some more opinions, but I think I know the answer! Link to comment Share on other sites More sharing options...
antoniocinisi Posted August 30, 2011 Share Posted August 30, 2011 the one and only time I bought one the transmission went out of that car. Link to comment Share on other sites More sharing options...
havending Posted August 30, 2011 Share Posted August 30, 2011 They are good but you will get it for about half if you dont buy from dealer at purchase. The factory will always offer you one by mail about amonth after you buy Sent from my Desire HD using Tapatalk Link to comment Share on other sites More sharing options...
mission vending Posted August 30, 2011 Share Posted August 30, 2011 That is true but you need to do your research on the company and how good they are with paying claims. I've bought the warranty a couple of times. Once I never needed it and the other had a major engine failure. I spent 3 months fighting them and was left with the decision to either sue or walk away. I choose the latter. They insisted that I prove all maintenance was performed to manufacturer specifications. Seeing as how I do most of my own maintenance I only had receipts without mileage records so their stand was that routine maintenance was not performed properly. So my .02 is that unless you are willing to pay a third party to perform all maintenance and you make sure that you don't go one mile over recommended intervals then by all means go ahead, if not then don't. I have not bought another plan since and don't plan to ever again. Link to comment Share on other sites More sharing options...
PnutGallery Co. Posted August 30, 2011 Share Posted August 30, 2011 If you are buying a new car I would not even consider it until the factory warranty expires. No reason to prepay for something that you will not even need for a year or two. I personally think they are a very poor deal, yet I have friends that have used them and are very happy they had it. It is a gamble like anything. A lot depends on the vehicle and cost of repairs too. Is it a ford focus or a BMW? As you know one will be much less costly to repair. Link to comment Share on other sites More sharing options...
Technivend Posted August 30, 2011 Share Posted August 30, 2011 I hate buying extended warranties on anything. The failure rate of anything is based on a bathtub curve. Meaning failure is probable immediately and then ramps off very quickly and then ramps back up quickly at the end of life. The extended plans usually cover the bottom of the bathtub curve. It was explained to me years ago like this: If you buy the extended warranty, you are betting that the unit will fail. The underwriter is betting it won't. So if the person selling it to you feels like it won't fail why should you? Link to comment Share on other sites More sharing options...
dogcow Posted September 7, 2011 Share Posted September 7, 2011 used to work for a sales office for these...depending on the company they can be a great deal on an old used car, they will cover about 3 minor repairs or one major one and then they will fight you / wont pay as someone pointed out research the company who underwrites it (not the sales agent) first. Link to comment Share on other sites More sharing options...
The Mage Posted September 15, 2011 Share Posted September 15, 2011 I haven't researched extended car warranties, but I know with electronics the cost is often equal to the cost of the average repair, so most of the people who use it don't save a cent, and most people don't use it. And to add to the issue is that if there is a problem that is covered, it will more often then not come up during the original warranty. Again this is about electronics, not cars, but Best Buy and other electronic companies make more money from selling extended warranties then they do selling the electronics in the first place. Link to comment Share on other sites More sharing options...
Hillbilly Posted September 15, 2011 Share Posted September 15, 2011 What is your opinion of extended "warrenties" for cars? Any one have such a contract? If so, are you happy with it? Or should they be avoided like the plague? Just want some more opinions, but I think I know the answer! Instead of buying the extended warranty, take $20 a month and put it away as a breakdown fund. I avoid them. Most cars have a pretty good standard warranty anyway. Link to comment Share on other sites More sharing options...
timberframe50 Posted September 16, 2011 Share Posted September 16, 2011 For me it depends on the car. First if it is new I never buy. If it is used it depend on the make. The last used car was a Honda, no warranty. The before this was a chevy SUV for one of my girls, warranty purchase and used 3 times. This paid for itself many times over. Link to comment Share on other sites More sharing options...
dogcow Posted September 16, 2011 Share Posted September 16, 2011 Instead of buying the extended warranty, take $20 a month and put it away as a breakdown fund. I avoid them. Most cars have a pretty good standard warranty anyway. a good aftermarket warranty is not that expensive for a used car, they can be a solid buy. it can take a lot of $20 bills to add up to a new transmission. if your computer goes out that can be almost a grand Link to comment Share on other sites More sharing options...
snack dude Posted September 16, 2011 Share Posted September 16, 2011 a good aftermarket warranty is not that expensive for a used car, they can be a solid buy. it can take a lot of $20 bills to add up to a new transmission. if your computer goes out that can be almost a grand I have never had one, But one thing that no one has mentioned here is " How big of a motorhead are you"? I am a motorhead from way back. I do over 90% of my own work on all of our vehicles, I have put a transmission from a salvage yard in my sons saturn and it lasted two more years $125.00 plus my time. I had my computer called an ECM in my G3500 1 ton vending truck go out recently and bought a preprogramed one online and installed it myself for $300.00. you can find step by step how to info on just about anything on the web. Parts are cheap if you buy them yourself, its the mark up on parts and the labor rate that kills you. So I think you have to ask yourself, Do I really mind popping the hood jacking it up and getting my hands greasey and have the tools, or do I want to pay someone to do it. Thats the real question in my mind. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.