Vehicle Extended Warranties

[RPM 26381]

These seem shady af to me. But, I can see their usefulness if they are legit. Anyone have any experience or recs? Asking for a friend.

[bernorange 8367]

I get frequent offers for them.  I throw them in the trash.

[Nueces River Rat 5566]

42 minutes ago, RPM said:

These seem shady af to me. But, I can see their usefulness if they are legit. Anyone have any experience or recs? Asking for a friend.

Are you talking about robo call offers?  ---- Nope

Or the wrap it in with the sale when you purchase the car?

Used to avoid them...  But now with newer rides, it's worth getting them when you finance the car.  All the digital stuff in the dash has to cost a shit load to replace or repair it. All you can do with some of these rides is put air in the tires and maybe add windshield washer fluid  

Edited December 16, 2020 by Nueces River Rat

[RPM 26381]

No, I bailed on the dealer wrapped in offer. My car is a low mileage (70K) 2014 and the factory coverage has expired. Looking for an aftermarket plan if any are worth a damn. They seem shady af.

[mycox 582]

Depends. What is the deductible and how much does the warranty cost? It's usually best to save that money and put it aside if you can.

[RPM 26381]

10 minutes ago, mycox said:

Depends. What is the deductible and how much does the warranty cost? It's usually best to save that money and put it aside if you can.

I'm more interested to find out if they actually pay off or stiff you on claims.

[77horn 216]

I twice was talked into one, both times via dealers.  They never covered a single penny of repairs.

[UnivTex34 1763]

My brother bought an 08 Wrangler with one used that replaced his rear-end when it started leaking 4 years later. $50 deductible, warranty paid for itself twice. We bought one with my wife’s Subaru because it was the first Subie that anyone we knew had bought, still haven’t used it. UFCU bundled one with my Tacoma note for $500, and I never used it. 
 

going forward, I would do it on a vehicle that is used, that is An American brand, but will probably skip it on Asian makes or new vehicles.

[conVINCEd 21474]

4 hours ago, UnivTex34 said:

My brother bought an 08 Wrangler with one used that replaced his rear-end when it started leaking 4 years later. $50 deductible, warranty paid for itself twice. We bought one with my wife’s Subaru because it was the first Subie that anyone we knew had bought, still haven’t used it. UFCU bundled one with my Tacoma note for $500, and I never used it. 
 

going forward, I would do it on a vehicle that is used, that is An American brand, but will probably skip it on Asian makes or new vehicles.

Probably a good idea on anything the Brits produce as well.

[mycox 582]

5 hours ago, RPM said:

I'm more interested to find out if they actually pay off or stiff you on claims.

This is some good info
https://www.cars.com/car-warranty/

[HornOnTheBayou 8958]

From a young age, my father drilled into my head the idea that you should never buy an extended warranty. If the deal would end up benefitting you in the long run, the dealership wouldn't sell it.

The only exception to this rule I've discovered is for kid's glasses. I've got a very active and absent-minded 8 year old. The extended insurance on his glasses has paid for itself many times over.

[conVINCEd 21474]

2 hours ago, HornOnTheBayou said:

From a young age, my father drilled into my head the idea that you should never buy an extended warranty. If the deal would end up benefitting you in the long run, the dealership wouldn't sell it.

The only exception to this rule I've discovered is for kid's glasses. I've got a very active and absent-minded 8 year old. The extended insurance on his glasses has paid for itself many times over.

The same logic could probably be applied to kids phones as well.

[Updawg 2295]

I’ve had bad luck with them and will never buy one again

But if you are interested look at credit unions. They sell them and I would hope they have reputable ones. If you do get one make sure you keep up on all the maintenance and keep receipts /records. They will deny you on whatever just because you forgot to replace a cabin ac filter

[SimonBolivar 10961]

21 hours ago, RPM said:

No, I bailed on the dealer wrapped in offer. My car is a low mileage (70K) 2014 and the factory coverage has expired. Looking for an aftermarket plan if any are worth a damn. They seem shady af.

Look into the plans at a local Credit Union. I sell them all the time and you don't have to have the vehicle financed to purchase it. If you want you can PM me the VIN and the mileage and I can get you a ballpark when you shop around.

Edited December 17, 2020 by SimonBolivar

[Cheeseweasel 26438]

22 hours ago, mycox said:

Depends. What is the deductible and how much does the warranty cost? It's usually best to save that money and put it aside if you can.

This. If you can afford to "self insure" with any product or service, you're money ahead in the long run.

[dcbc 14565]

Never bothered with one until I owned a German car.  Never used it through 100,000 miles.  Friend had a BMW with the same insurance (purchased through penfed credit union) and they apparently were easy to deal with and the price if you financed through penfed was reasonable for peace of mind with unreliable German cars).

[Nice Guy Eddie 13536]

I basically turn down all extended warranties on every product. For non-vehicles, some credit cards give you extra warranty for a year so it’s always good to remember that.

3 years ago, I decided to get an extended car warranty and regretted it within 6 months. I knew all of the dealer tricks into getting you to buy one but their deal seemed to be better than most. Given that I keep cars forever, why not. Still upon reflection, I made a mistake.  Maybe it will pay off. Don’t know yet.

the one risk warranty exception that I’ve come around to buying is tire road and hazard. My reaction used to be hell no. It seems now that I run into a nail once or twice per year. I believe some tire brands offer road hazard for free, so it’s always good to research first so the retailer doesn’t charge you for unnecessary coverage. 

[CooterBrown 18038]

A bigger scam is the prepaid scheduled maintenance. I think it was $1400 for 3 years at Mercedes. Declined it and total out of pocket scheduled maintenance for 3 years was $600. If I hadn’t gone to the dealership, it probably would’ve been $300.

[Hate 20155]

We’ve bought both of our cars certified used and then extended the warranty bumper to bumper to 100k miles. Several years ago we bought a Highlander and a knob broke off of the AC. I took it in to get it fixed and of course it was not covered in the standard warranty. To fix it, they would have had to replace the entire AC in dash console. The part alone was $1500. It was at that point that I decided to go ahead and get the warranty. If anything goes wrong with the car other than normal wear and tear stuff I just drive the car to the dealer rand they fix it. It’s worth it to me. It also helps that Toyota will prorate your warranty if you buy another Toyota and you still have some mileage on the original warranty.

[tbone_ 14215]

I had an engine replaced on an LS 460 under an extended warranty once. $16,000 bill. I paid $100.

That said, probably still wouldn’t buy one again.

[Gil Bang 26070]

I got the extended warranty as part of the CPO deal with Mercedes. 

It paid for the new transmission, which is nice.  

The fact that the car needed a new transmission isn't so great 

[ZB'Tejas 594]

Mentioned above was the fact that new cars have so much digital and power everything... I let the dealer talk me into an added bumper to bumper 6 year warranty. Probably is a better idea to self insure but it included gap insurance, loaner vehicles and roadside assistance for that time so I figured why not.