What's the word on extended automobile manufacturer warranties

[bushmaster1313]

We recently purchased our first upscale automobile. The dealer gave us 30 days to extend the manufacturer's warranty.

The basic warranty was one year on everything and 4 years or 40,000 miles on the powertrain.

The extended warranty, transferable in a private sale, was 7 years or 70,000 miles on everything for about 5% of the total initial cost of the vehicle including taxes etc.

On the 30th day we purchased the extended warranty. My thought was that repairs on this make of car are expensive, and if we go to sell the car in 5 or 6 years a purchaser would be more comfortable buying from us with a still valid manufacturer's warranty on the entire car.

What say the Forum -- Are extended warranties a good idea?

 

[lihpster]

My word on extended vehicle warranties is no.

 

[shell627]

Don’t worry you will get phone calls about extended warranty

 

[MTC(SS)Ret]

They must be a good deal.....I've received about 200 phone calls in the last year trying to sell me one on my 2 year old car.

 

[Rpg]

Extended warranties are 93-95% pure profit for the point of sale.

That’s why the sales folks push them so hard.

It’s like spending $100 on a $7 item.

 

[bushmaster1313]

Extended warranties are 93-95% pure profit for the point of sale.

That’s why the sales folks push them so hard.

It’s like spending $100 on a $7 item.

My one experience was with a used car that had a 6 year extended transferable warranty.

In the sixth year, our second with the car, we had an issue with the transmission. The transferable extended warranty got us a new (or at least a rebuilt) transmission from a dealer, which gave out after seeing an additional 200,000 miles of service from that car.

 

[Geno44]

Well rip me off!!! Ads based on fear and misinformation. Put the monthly premium payment in a savings account and you will probably never spend much of it. Just like buying a lottery ticket. Someone wins and everyone else loses. I've got 140,000 miles on my Buick and the only time my engine light went on the repair would have been $75 if I hadn't done it myself. I like the tag line "-------------- go farther". Show me the proof!

 

[wood714]

We recently purchased our first upscale automobile. The dealer gave us 30 days to extend the manufacturer's warranty.

The basic warranty was one year on everything and 4 years or 40,000 miles on the powertrain.

What new car only offers a warranty like that?

My Tacoma was 3/36K bumper to bumper, and the dealership has their 20 year 200K drivetrain warranty. You kinda screwed on that warranty if you break down after hours in another state thou.

20 Year 200,000 Mile Limited Powertrain Warranty | Beaver Toyota St. Augustine

 

[THE PILGRIM]

Beaver Tojo?
I remember the day this Blonde Bombshell appeared on my TV and announced her name was Linda Beaver. And she was selling Toyota’s in Santa Fe.
Say What?
Oh - extended warranties? NO!

 

[doublesharp]

Sounds like a certified vehicle warranty. My stock answer to extended warranty pitches is "if you think a warranty is so necessary maybe I'd better not buy this in the first place"

Only warranty claim I've ever had is on a used 1977 C20 GMC pickup. Had a 90 day warranty and the transmission went south after about 6 weeks. Used car dealer paid for the repair and I drove it as a work truck for about 10 more years until rust ate it.

 

[Beemer-mark]

How many spam emails and phone calls do you get to sell you an extended warranty? Bought a new truck last year the dealer gave me so much do-do about the extended warranty only costing 5 cents a day ( a lie) I finally bought it to get home. Why did I buy it? Because I knew I could call Ford and have it cancelled, easier then wasting my day in the office. If I really wanted the Ford warranty there are bona-fide Ford dealers online selling the same Ford warranty for 25% of what the dealer wanted. I agree with the previous poster, put the cost of warranty in a monthly bank account.

 

[machinist mike]

perhaps I am an exception to the rule, but I purchased a lifetime bumper - bumper warranty on my jeep cherokee from the dealer. at 67000 miles the dealer had to replace the motor for excessive oil consumption. Total cost to me was $100.00. I saw the invoice for the work and it was over 6200.00 I think the cost for the warranty was about 2700.00, and now Chrysler Corp(jeep) wants to buy me warranty back, offering me either 3000.00 in trade or 2500.00 cash

 

[stansdds]

Extended warranties can be a good thing. My wife bought a Toyota and got the dealer's lifetime drivetrain warranty. With it, she got free state inspections for life and free oil changes for life. It has been a good deal as she has recovered the cost of the warranty in free vehicle service. I think it really comes down to who is providing the warranty and how much it costs. If it is the dealer, it may be a good deal, depends upon what is covered, what is included and how much it will cost. The same goes for an extended warranty offered by the vehicle's manufacturer. If it is one of those infernal telemarketers, run! I get the telemarketing calls at least twice a week and my car is now 18 years old and has well over 100,000 miles on it, but they still call.

 

[Truckman]

Generally speaking, extended warranties are great for putting money into someone else's pocket......Ben

 

[DGNY]

I would offer a different opinion. I believe that manufacturers' bumper to bumper extended warranties (with wear/maintenance items such as brake pads excluded) can be a good deal both for peace of mind and for major expenses, especially considering the multiplicity of electronic devices on newer vehicles. This assuming you put a multi year long distance extended warranty onto the vehicle.

Aftermarket warranties generally are/were for stated parts only and often exclude vital parts. NG.

 

[raljr1]

I generally don't buy extended warranties. They are kind of like buying a lottery ticket. If you buy one for $700 when you buy a used car, and something goes wrong that is covered, you win. If not, maybe you bought peace of mind...I once paid for a special protective clearcoat on a Cadillac CTS I bought....I think it cost $400....a few years lated, I got some staining damage on the rook., trunk and hood....the warranty on the clearcoat covered about $3,000 in paint repairs....I won that one.

 

[quikdraw67]

Never bought one, no regrets yet.

 

[Breakaway500]

Speaking as a hands on professional mechanic (50 years and counting) who sees all the broken cars and owners on a daily basis...(of course yours never breaks..)

....and personally sees the repair costs involved...when they are no longer "covered" by the mother ship.....

....if you are buying one of the new/newer smoke machines on wheels...(that's what modules/screens/computers run on..smoke. Let it out,and they stop working..)

..BUY THE EXTENDED WARRANTY, as long as it is through the original manufacturer and covers ALL electrical components,with a minimal deductible and no pro-rating.

You will thank me some day...and yes..Hondas and Toyotas and Suu-bawoos..DO have electrical malfunctions.

When they do...that extended warranty is like a bar of gold. Or two..

 

[ladder13]

I’m buying one for my not built yet C8, a GM factory warranty. It is a GM product after all.

 

[NYlakesider]

Speaking as a hands on professional mechanic (50 years and counting) who sees all the broken cars and owners on a daily basis...(of course yours never breaks..)

....and personally sees the repair costs involved...when they are no longer "covered" by the mother ship.....

....if you are buying one of the new/newer smoke machines on wheels...(that's what modules/screens/computers run on..smoke. Let it out,and they stop working..)

..BUY THE EXTENDED WARRANTY, as long as it is through the original manufacturer and covers ALL electrical components,with a minimal deductible and no pro-rating.

You will thank me some day...and yes..Hondas and Toyotas and Suu-bawoos..DO have electrical malfunctions.

When they do...that extended warranty is like a bar of gold. Or two..

I agree, only get the manufactures, those other companies other than being a big pest are a rip off.