Extended car warranty

[Totoro]

Before signing, wouldn't one want to read ALL the fine print within the given contract then ask any questions about terminology that you don't understand and need clarification?

 

[def90]

Read the fine print, most car warranties don’t cover the stuff that is going to cost a ton of money to fix in the first place.

 

[Tobe_B]

I’ve been having a pretty solid run of vehicle issues for about 6 months now. We had two 3/4 ton diesels that my wife and I used for work. I’m up to almost 20K in repairs since October on those two trucks. We were trying to not buy new ones.

I ended up buying a new 2019 Colorado Duramax. Couldn’t find a brand new one so I bought slightly used and added a factory bumper to bumper warranty. 4 weeks in the transmission cooler line blew up. Took it in and it sat for two weeks. Totally covered. Went back for my first oil change in it. They found water in the rear diff. Mechanic told me not to worry that I still had 9k on my factory warranty and if it went out before then it was covered. I had a good laugh at his expense when I told him I purchased 80k extended bumper to bumper, so if there was an issue they are covering it not me.

In the meantime one of our 3/4 tons got deleted. The delete wasn’t tuned tight and I blew a torque converter threw the transmission. We are freaking done with repair bills and downtime right now. Hauled it in to town and had to buy another new truck to replace it. We needed a truck to get back to work now. Couldn’t find any new ones again. Bought another slightly used 3/4 ton and put another extended bumper to bumper factory warranty on it.

It’s all fun and games to say those warranties are useless and people shouldn’t buy them. But as of right now. I’m pretty darn glad to have two trucks with factory warranties covered over 100k miles. When you spend 20k on repairs and stare down the barrel of another 17k, you start thinking warranties in any form are nice.


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[Sapcut]

I spent a few months of my life selling service contracts and warrantys to used and new car dealers. I couldn't do it. It seemed every aspect of the business was very deceitful and sketchy. From the warranty company to the dealers themselves. A different breed of folks, imo. I will say, the service contracts can be beneficial if the right car part fails. But I assure you the companies behind the contracts don't want to pay and they'll do what they can not to pay.

There are third party companies, like who I worked for, that go in the dealerships to sell the product so the dealer can mark it up as an "upsell" to customers. Toyota has their own company servicing their contracts and no chance of any third party coming in with other products. The profit margins on those type contracts and warrantys are astronomical. Based more on the people associated with this part of the business more than the product itself, the only word that comes to mind is....crooked.

And "bumper to bumper" doesn't cover either bumper.

 

[Darryle]

Buy it from a dealer online other than where you plan on buying the vehicle.

I bought my Ford ESP 6yr/150000 from Flood Ford, saved hundreds and upgraded to the Premium Care and I also purchased the maintenance plan at the same time which was significantly cheaper.

It all depends on how long you plan to keep it these days.

 

[McCrapper]

I’m sure someone else said it but if you live paycheck to paycheck and can’t afford the repair they aren’t a bad idea. You need an “exclusionary” warranty, do not waste your money on anything else.


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[Sccritterkiller]

I got the extended factory warranty last year when I got a new truck. The biggest reason is parts/electronics availability. It set at KMS for 3 months waiting on chips before they sent it to me. Rental prices are over the place and if I have to wait a month for a chip or some other electric bit I wanted the rental covered. I had one on my last Ford, 2 key fob replacements, busted shock, HVAC blend door replacement were all covered so it paid for itself.

 

[Hschweers]

Bought a new (to me) F150 back in September. The guy talked me into the extended warranty and I bit since I was getting the truck for cheaper than I planned to. Not even a week after buying it all of the electronic accessories went out (AC, windows, radio, power seat, power steering wheel, everything). I was LIVID. Took it to the dealership to fix and it was a hairline crack in my taillight. Have no idea how it got there or if it was there when I bought it. The blind spot monitor is linked to the accessories so with morning dew and rain it shorted out the module which drops all accessories. The extended warranty paid for itself that day. As people have said, with everything going to electronic, things are expensive. My TAIL LIGHT was $2,000 to replace and requires programming. Not a simple swap in the driveway like it used to be. I think my warranty was $2,800 over the course of my loan, and it saved me $2,000 a week after I bought the truck. Have another 50,000 miles to figure out how to get that other $800 back.

 

[Sapcut]

Yea I would say if you by GM, Ford or Land Rover that might be the time to include any type of warranty or service contract available. You’re gonna need something.

 

[ThisIsMyHandle]

If you’re on the fence about getting a extended warranty on your car, just wait a few days and a company will call telling you it expired. Then if you’re still on the fence, wait a couple more days and the same company will call from a different phone number to tell you again that your warranty expired.


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[cytherian]

I agree that extended warranties are better when from the factory. 3rd party? I don't trust them. Most of them insert special language in the contract that surprisingly neuters a lot of coverage you'd expect you should get. I saw in one case that mandated regular servicing at the OEM mandated intervals and had to be done by a dealer, with certified stamp. If you didn't have those stamps, you can forget about getting coverage for repairs.

But what really "gets my gourd," is when a new warranty is miserably smaller than one for a certified pre-owned car. Some brands have very generous CPO ones, like up to 10 years or 100,000 miles. I'd rather buy that than a brand new car, especially if something like a high-end Audi, BMW or Mercedes.

But I would NOT own a Land Rover, BMW, Jaguar, Mercedes, high-end Audi or most others in that class if it's not covered by a full warranty. Those vehicles can become fast money pits. In my experience, Audi is an exception, because it's essentially Volkswagen... and our family has had nothing but Japanese level reliability with them. My old Audi A3 is 15 years old and has never broken down, never had anything go wrong mechanically or electrically that was outside usual wear & tear (had to replace the A/C compressor, due to age). It's long out of warranty.

 

[KurtR]

Scum bags wouldn’t do anything for my 84 Pontiac grand am.

 

[30338]

I've always owned Toyotas so never needed any repairs. So I figure all the money I saved on warranties I can spend on the new Ford I just bought lol.

I don't buy road hazard insurance on tires either. Have bought maybe 20 sets of tires in my life and only had one sidewall go that could not be repaired. I can buy a lot of tires with savings on not buying road hazard insurance.

 

[huntsman22]

Hello. We've been trying to reach you......

 

[2ski]

I came to this thread thinking that now they'd figured out how to use Rokslide to reach us about our extended warranty.

 

[Bubblehide]

I view it this way, if I need an extended warranty, the can is a POS. If I plan on keeping the car close to the warranty expiration, a factroy extended warranty will make the car easier to sell as a factory extended warranty will put a buyer at ease, as the car is perceived as reliable or it will be repaired under the warranty. That however does not mean I will get more money for the car. But, it will likely be much easier and quicker to sell in a poor market.

 

[IdahoElk]

I'm sure glad I had paid for the extended warranty when the $8k transmission went TWICE on the wife's Volvo.

 

[IdahoElk]

Getting my wife a new car. Historically, I never get extended warranties. We try to keep our vehicles for years and put a lot of miles on them. but with the cost of labor, parts etc., simple repair costs are going up at an accelerating rate. Thinking I should at least think about it. Blew the transmission on my wife's car when it had around 75,000 miles outside of Denver, A warranty would have been nice but normally we don't have a lot of issues with our vehicles and she will put on 20,000 miles a year.

Has anyone done any recent research/analysis on extended vehicle warranties and cost/benefit?

What car are you getting?

 

[Mosby]

What car are you getting?

I ended up getting my wife a Subaru Outback. Also did not buy an extended warranty.

 

[Boarmaster]

I would only buy a extended warranty that was from the manufacturer and only a bumper to bumper extended warranty. I was a new car dealership Parts and Service Director for 10 years , grew up in the service dept of my father dealerships. Out of of that business for sometime to pursue a career where I could travel and work. I saw my share of crap warranties. Also like anything understand what your buying.
most extended warranties are limited.