Vehicle Extended Warranty: Yea or Nay?

The F&I office makes more money than any part of a dealership. Everybody thinks the salesman is the devil, he doesn’t hold a candle to the finance guy. Thanks to the Internet if you’re not buying a luxury type car dealerships will gladly give the car away so they can funnel as many people as they can through F&I then hope they come back in for service.

If a $2,000 expense wrecks your budget then buy it. If you have an emergency fund then I wouldn’t, there’s a good chance they’ll weasel out of covering something anyway.

 

Is this an official GM warranty or a 3rd party? If it’s a GM one, do you know the plan number/code so I can ship it around? If it’s a 3rd party, who is it with?
Thx!

 

I have never bought an extended warranty on anything (vehicles, appliances, electronics)...nothing.

There is a reason why they always push those...profit.

This is my reasoning:

1. If there is something truly wrong with it out of the factory, the included warranty will cover it. If there is some major factory defect, it will show itself pretty quickly. And that defect will be covered by the regular warranty.

2. If something happens further/years down the line, it is likely due to:
a) Normal wear and tear
b) Insufficient maintenance
c) Installation of aftermarket parts
d) Misuse/abuse

Therefore insurance can/will deny payment because you didn’t live up to the agreement.

If extended warranties were truly beneficial to the customer, they wouldn’t be pushed by the sellers, because they wouldn’t make any profit. The fact that they push for them should set off an alarm as a customer.

Personally, I would rather put back the money and keep it in savings so I can fix the problem IF one occurs...rather than give it to someone upfront, even though there is no problem.

Everyone has that “guy they know” who had a transmission or engine go out after the regular warranty expired and was thankful for the extended warranty. But that is an exception, not the rule.

The only time I can see an extended warranty being purchased is if someone is really old, are on a fixed income, and they know that will be the last vehicle they ever buy...and they plan on leaving it bone stock and all maintenance done by the dealer.

If someone is in that situation, and the vehicle must last the rest of their life, and they have the money for a warranty now but likely won’t be able to afford costly repairs later, then it might make sense then.

 

I thought you just traded them in at the first oil change anyway?

 

The “E” on the fuel gauge is for “Exchange”...right?

 

The only best and awesome insurance thing I have seen in my life was years ago (banned now) was buying a used range rover/ land rover from car max/ auto nation, what ever big used car dealership forgot which one. And buy the warranty for like 1500 or 2000 dollars. A guy put it on youtube and everyone went out and did it. One guy had over 15k in fixes in the 1st year. It was genius

 

got a real hookup?

 

Insurance is gambling. You're betting you will need more $ in repairs than the cost of the insurance.....They're betting you won't. They make money, buy TV ads, pay dividends, etc......Hmmmm. The only case to be made for insurance is when the loss could be so big as to swamp your life, like life insurance when you have a family and no real savings or fire insurance when replacing your house would be too much.
Having said that I've fallen into the trap, bought extended insurance for my diesel truck, never again.

 

If it's a OEM backed warranty, yes.

Third party, NO. Hell NO.

The only other warranty that I've heard is great is Carmax extended warranty.

 

Nay, for reasons that have been stated.

 

Years ago I remember telling the Finance guy when he told me I should buy the extended warranty .Your salesman spent over an hour telling me how good and reliable the car was and how happy I will be with it. . I come in to talk to you and your telling me how it's going to break down and I need the extended warranty. I told him I guess I made the wrong choice .I acted like I was getting ready to leave he never mentioned the warranty again.

 

The funny part is, with the (relatively) long mileage between oil changes these days, that isn’t far from accurate.

The Turbo Bacon only had 3 oil changes before I got rid of it, and the SVR will likely only see 2 oil changes during my ownership.

 

Extended Warranty for a Nissan Frontier? Are you insane? Not only is it generally reliable as fuck , but its also literally been the same truck now for like 13 years. Of the few things that reared their head during ownership, some diff case vent or some shit and a few other tiny things, they've since updated those.

The only way I'd ever get an extended warranty is if I just so desperately wanted an Audi, or a Range Rover... and then the answer to the previous page's questions should be, "yes, we DON'T have faith in the reliability of our product, and you shouldn't either, but since you just HAVE To own one for some other reason NOT reliability, it would probably be best to keep the warranty."

 

I paid $1400 for an extended bumper-to-bumper warranty that went to 6 years, 120k miles on my ‘15 F150. The panoramic sunroof stopped working past the basic factory warranty and the repair would’ve cost $2200 but cost me $100 for the deductible. I had 2 other repairs that weren’t major but I made out ahead with the warranty. Not to mention the peace of mind.

edit: this was the 1st year of the redesign. That was the deciding factor in me buying it. I assumed I would need it.

 

You made a funny...no Phil just goofin' on it.

 

I owned a 2001 Frontier King Cab, 4 cyl, stick, A/C, manual windows but the first year of a change and first year models often have problems. Had over 110K miles when it was totaled. Oil and filter changes and replaced shocks.....a rear one broke and that was the only problem it had. I know I never changed transmission oil, differential oil, or a clutch.

When I bought Boman Forklift it came with a 99 Tacoma parts truck with over 300K miles that was embarrassing to drive. It was all beat up, no parking brake, not a single straight panel on it, no window crank- vise grip clipped on, drivers side door handle broken-open from the passenger door or leave window down, but it ran great and for the time I had it. It only needed a radiator and oil changes.

About three years ago I gave it to an employee and bought a used 95 Tacoma that looked great and had 220K miles. Over these 3 years, at separate times, I've replaced the shocks, clutch, radiator, distributor, heater core, and just did a blown head gasket 2 weeks ago. Yesterday when I was driving the check engine light just came on and I haven't diagnosed it yet, but feel a miss.

 

ney... if youre that worried just get a new vehicle before the OEM one expires. They aint gona stop making vehicles anytime soon...

 

On Honda you can buy the extended warranty, HondaCare, from another dealership. My boss and co-workers did this and ended up getting like 8 years/120K and paid about $960, 2 years ago.

Saccucci/Hyannis/College Hills Honda all sell it for much cheaper than the typical Honda dealer. They said to request a quote from all three and go with the lowest. It's a Honda OEM warranty, not a 3rd party.

 

Fuck 'em...let 'em stop and this country will go all Cuba on their ass and make the ones we have last another century or more.

 

No on any extended warranty.. if you have a major issue , drive it into a lake and call your insurance company and get a new truck !