Extended vehicle warranties

[nipster]

Extended warranties are not sold to you because the maintenance companies like you and care about you. They are sold because they are monster money makers.
Bank the cash you would spend on premiums and you will be able to pay for your repairs out of pocket and if nothing goes wrong, more likely then you win big.

Normally I would agree with you, but considering the issues I had during my normal 3/36000 warranty, I bought my extended warranty just before the base expired. It more than paid for itself. Probably 2-3 fold actually.

It does not take much, like a tranny: boom, paid for itself right there.

I would never buy an aftermarket warranty.

 

[hatt]

I try to only buy vehicles with a known track record for quality. If they make it though the factory warranty without too much fuss, chances are good they make it past any extended warranties without too much trouble. The exception to all this was an 06 Superduty with the 6.0. I made sure to get rid of that thing when the factory warranty ran out. When you've replaced injectors twice, number 3 likely isn't far behind.

Dave Ramsey did a breakdown on the extended warranties. Only like 12% or so went to actually fixing cars. The rest was commissions and profit. Might as well play the lotto with that money and use the winnings for car repairs if they're ever needed.