Extended waranty...

[amazingflapjack]

I am considering keeping our 2016.5 Mazda CX-5. It only has 13000 miles on it, and I wanted to know if anyone had some experience with extended warranty's, either good or bad? Thanks.

 

[bigwheelzip]

22 years ago hubby got an warranty extension from 3 to 7 years for his Dodge Ram. It paid for itself with the needed repairs it covered.

 

[Kanewpadle]

Careful. Many of these plans are administered by a third party. And the service may not be what you expect.

Many extended warranties are thought of as a waste of money.

 

[Ματθιας]

Extended warranties are money makers in the finance office - like the leather/vinyl/fabric, paint sealant "protection packages".

For used vehicles: My unsolicited advice, before shelling out for an extended warranty, is to do some research, find out common potential problems at milage intervals and have the vehicle inspected by a trusted third party before you sign any paperwork.

As stated above, if you pay for an extended warranty, read the fine print to find out what is, what isn't covered, what hoops you have to jump through for a claim if it is pro-rated, and who is the actual administrator.

In my experience, most warranties aren't worth the paper they are printed on.

 

[rockquarry]

Never bought one and never wished I had.

 

[stansdds]

Factory extended warranties are usually pretty good, but you generally purchase those when you purchase the vehicle. Third party (aftermarket) warranties have a spotty record and are usually money makers for the warranty company and leave the purchaser with a worthless piece of paper. The same goes for many home warranties, gas line and water warranties.

 

[max]

If you buy one, buy from the manufacturer. These can often be bought online for half what some dealers charge. If there is a lot of high tech stuff on the car, I would recommend it.

 

[ladder13]

I have a 2016 CX5 GT, and other than the adaptive headlights, have had zero issues in 45,000 miles. The compact suv tracks like it’s on rails, typical of Mazda handling.
It’s a good solid vehicle.

 

[hoc9sw]

I've bought extended manufacturer warranties with each vehicle since 1999. Every one has paid out more in benefits than it cost, or I've gotten a hefty buyout of the remaining time in the next trade.
With all the electronic mess, I would not consider a vehicle without one.

 

[HOUSTON RICK]

Extended warranties cover everything except what actually goes wrong - then come the disclaimers and small print or the $3.97 part is covered but the $3,400 of labor is not.

 

[16thVACav]

The typical customer will spend more on the extended warranty than he would on repairs. Otherwise, the warranty company would not be making money. Think about it.

 

[hoc9sw]

​

The typical customer will spend more on the extended warranty than he would on repairs. Otherwise, the warranty company would not be making money. Think about it.

I am not the typical customer. I can, and have, broken just about anything.

Ask S&W CS about me!

 

[Goldstar225]

I've only bought an extended warranty one time, that was for a Jeep that my wife wanted. It paid for itself but I knew that it was a risky vehicle when I bought it.

Otherwise, no, I won't pay for one. Over the course of the past 40 years I have saved untold thousands of dollars by not wasting them on extended warranties.

 

[S42N8]

Have purchased the factory extended warranty on my last three cars (Audi, VW) — each paid for itself. It’s been a good hedging strategy (buy CPO, buy extended warranty), and still better than paying depreciation driving a new car off the lot.

Can’t help but think that with the slew of electronic stuff on newer cars, repairs are gonna get more expensive. One (!) circuit board on my R32 cost $1400, and two hours of labor to replace. Made the $75 deductible seem downright cheap. (That repair bill was about 60% of the extended warranty.).

As always, YMMV.

 

[TX-Dennis]

I wouldn't. Last Mazda I had was still going strong when I traded it in at 120,000 miles. No repairs were needed at any time (not including routine maintenance, of course). The only extended warranty that MIGHT be worth buying would be one backed by the manufacturer. Most are not. I might consider an extended warranty if I were buying a vehicle with a reputation for problems, but most likely I'd buy something else instead.

 

[amazingflapjack]

Thanks everyone for your contribution. Flapjack.

 

[Old 44 Guy]

Just tuned 90,000 on my '07 Ranger. Don't put the miles on like I used to. Outside of brakes, tires & batteries haven't many repairs. Saved the cost of insurance.

 

[mod29]

Extended warranties are money makers in the finance office - like the leather/vinyl/fabric, paint sealant "protection packages".

Agreed. Dealerships really push those items because they make money.

 

[cherrypointmarine]

Living in Fl , you know what the heat does to our vehicles . Is yours garaged ? I would worry more about things that would go wrong from your car just sitting than from mileage if I was you . If you want one , visit a couple of larger garages and ask them what would be a good one , they can tell you .

 

[llowry61]

You can think of it like this, if you spend 1400 on an extended warranty ( just grabbing a number here ) and you have a "covered" claim for 1400 then you broke even. If you have 1400 of issues and you don't have the warranty then you are effectively even. The warranty companies are betting that on a whole the purchasing population will have less in covered claims than the total sale revenue plus investment income. It is like gambling, slot machines payout a predetermined % of money taken in. The key is it isn't always to you. So, some will benefit greatly from the plan like the jackpot winners at the slots. But if you think about it the casino always get's their 5%. I am a firm believer in self insuring and I never buy the warranties. Has worked out so far. Good luck to you.