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Old 11-08-2011, 09:00 PM
 
9,078 posts, read 12,153,377 times
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Default Extended Warranty advice (do I really need it)

I know the general consensus is extended warranties are not worth it.

However I have a car with a turbo.. a 2009 Subaru WRX. I'm at 34k miles. I need to decide before I hit 36k miles if I should buy the Subaru factory warranty -- I found a Subaru dealer that sells them for good prices. NOTHING has gone wrong with my car.. the only warranty repair was to replace the gas cap as the flimsy plastic piece that connected it to the fuel door broke. Nothing mechanical.

A friend of mine had some issues with her Forester prior to the expiration of the 36k bumper to bumper and she was glad she bought the extended warranty as she had some repairs on her car. Her thoughts were if one has had no problems with the car while the bumper to bumper warranty was in effect, to not bother. However, she said it could help with resale (which I doubt).

So do you think its worth getting on a turbo vehicle (or not)?

Pros/cons?
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Old 11-08-2011, 10:09 PM
 
Location: Not far from Fairbanks, AK
12,905 posts, read 13,843,668 times
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a
Quote:
Originally Posted by minibrings View Post
I know the general consensus is extended warranties are not worth it.

However I have a car with a turbo.. a 2009 Subaru WRX. I'm at 34k miles. I need to decide before I hit 36k miles if I should buy the Subaru factory warranty -- I found a Subaru dealer that sells them for good prices. NOTHING has gone wrong with my car.. the only warranty repair was to replace the gas cap as the flimsy plastic piece that connected it to the fuel door broke. Nothing mechanical.

A friend of mine had some issues with her Forester prior to the expiration of the 36k bumper to bumper and she was glad she bought the extended warranty as she had some repairs on her car. Her thoughts were if one has had no problems with the car while the bumper to bumper warranty was in effect, to not bother. However, she said it could help with resale (which I doubt).

So do you think its worth getting on a turbo vehicle (or not)?

Pros/cons?
If you plan to keep your Subaru for several more years, which by the way is a good idea, by all means buy it. However, don't buy if from the dealer. Instead, contact the Subaru headquarters in NJ, and buy it from them.

I had a 2009 Forester and the extended warranty was too expensive at the dealer, so I contacted Subaru and bough it from them. If I well remember it was a 6-year/80,000 miles (something like that), and I paid around $800.00. Whatever you do. don't buy a generic extended warranty; buy a Subaru one.
--------
I traded the Forester for a 2010 Toyota Rav 4 V6 as a present to my wife. I got the extended warranty for it from a Toyota dealer in Kansas fans paid $932.00. The Gold warranty is for 8 years/100,000 miles. The reason why I got the warranty is because an engine, transmission, ABS system, computer, etc., would cost thousands of $ to replace or repair.

In reality, it's up to you to decided. A lot of people say that extended warranties aren't needed, but most major problems crop up just by the end of the regular warranty. But sometimes nothing happens for a long time, so you may never use the extended warranty.

By the way, the extended warranty is refundable (whatever is left of it).
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Old 11-09-2011, 06:13 PM
 
9,078 posts, read 12,153,377 times
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Thanks ray. I had no idea I could buy the warranty direct from Subaru.

Quote:
Originally Posted by RayinAK View Post
a

If you plan to keep your Subaru for several more years, which by the way is a good idea, by all means buy it. However, don't buy if from the dealer. Instead, contact the Subaru headquarters in NJ, and buy it from them.

I had a 2009 Forester and the extended warranty was too expensive at the dealer, so I contacted Subaru and bough it from them. If I well remember it was a 6-year/80,000 miles (something like that), and I paid around $800.00. Whatever you do. don't buy a generic extended warranty; buy a Subaru one.
--------
I traded the Forester for a 2010 Toyota Rav 4 V6 as a present to my wife. I got the extended warranty for it from a Toyota dealer in Kansas fans paid $932.00. The Gold warranty is for 8 years/100,000 miles. The reason why I got the warranty is because an engine, transmission, ABS system, computer, etc., would cost thousands of $ to replace or repair.

In reality, it's up to you to decided. A lot of people say that extended warranties aren't needed, but most major problems crop up just by the end of the regular warranty. But sometimes nothing happens for a long time, so you may never use the extended warranty.

By the way, the extended warranty is refundable (whatever is left of it).
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Old 11-09-2011, 08:53 PM
 
Location: Not far from Fairbanks, AK
12,905 posts, read 13,843,668 times
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Quote:
Originally Posted by minibrings View Post
Thanks ray. I had no idea I could buy the warranty direct from Subaru.
Toyota and a few other automobile manufacturers don't sell their warranties directly to car owners. But Subaru did for me in 2010, so I imagine that they still do so. Keep in mind that most manufacturer extended warranties are honored in the US and Canada (the Toyota warranty is), and you don't have to buy it from the local dealers. Whichever official Subaru dealer in the US offers the best deal, you can buy it from. But as I mentioned before, give Subaru a call at their headquarters in NJ. Toyota lists all its extended warranties at one of the websites, and along the warranty there is a price listed for each. When I bought my warranty from MidWest Toyota in Kansas, the person there quoted me a Toyota price before I bought it.
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Old 11-09-2011, 09:04 PM
 
Location: Mooresville, NC
1,067 posts, read 983,995 times
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If you do buy from the dealer don't be afraid to negotiate it down just like you would the price of the car. Both have margin for the dealer built in so the price they show you isn't their best price.

I personally get the extended warranty just as a piece of mind. If I never use it, great! If I do need it then I'm happy I got it. Win/win in my eyes!
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Old 11-09-2011, 09:05 PM
 
Location: Planet Eaarth
8,958 posts, read 7,973,880 times
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Quote:
Originally Posted by RayinAK View Post
a

If you plan to keep your Subaru for several more years, which by the way is a good idea, by all means buy it. However, don't buy if from the dealer. Instead, contact the Subaru headquarters in NJ, and buy it from them.
Darn good advice IMO.
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Old 11-10-2011, 07:35 AM
 
Location: Grosse Ile Michigan and Sometimes Orange County CA
15,820 posts, read 30,869,110 times
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No.

They are a bad buy, no matter where you get them. If you are one of a very select few, it will pay off for you. However they are much more often a complete waste of money and the odds are considerably against you. That is why they are always not recommended by consumer advocacy groups (except the phoney ones who are paid to say they are a good idea).

However if you are a big worrier, and not having one will make you worry, then buy one. Worry will harm your health. It may well be worth it to buy one if it will prevent or avoid adding to the likelihood of a heart attack or other health problem.
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Old 11-10-2011, 11:55 AM
 
Location: Eastern Washington
8,785 posts, read 22,159,751 times
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The question boils down to - if you were to grenade the engine, how would you handle that?

If you would have it towed to a shop, get the warrenty.

If you would have it towed to your own garage, where you would put in an ex-boneyard engine, forget the warrenty.

*All* insurance *has* to cost more than the statistically predicted benefit to you, for the company to make a profit and stay in business. For this reason it's always better to self-insure for "hits" that you can handle yourself.
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Old 11-11-2011, 02:10 AM
 
1,891 posts, read 1,249,681 times
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No.

Open a savings fund at your bank instead and pay what the extended warranty would cost monthly into the savings account.

Cars are more reliable these days.
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Old 11-11-2011, 03:45 AM
 
Location: The cupboard under the sink
3,574 posts, read 3,921,025 times
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Pretty much this.

Quote:
Originally Posted by Lariat View Post
No.

Open a savings fund at your bank instead and pay what the extended warranty would cost monthly into the savings account.

Cars are more reliable these days.

many warranties aren't worth the paper they are written on.
There are always "get-out" clauses, and you'd be frightened by how little is actually covered on an older car.
Their get out of jail free card is "wear and tear". It's all about the definition of what is normal and what isn't.

Even if the engine were to go "boom", to claim on the warranty, it would have to be shown that the engine was faulty, not that you'd been hooning it, or had skipped an oil change.

Your other option is to make sure you read the warranty terms and conditions carefully to see what is covered and what isn't, and then decide if it's worth it or not.
Sometimes it's even worth getting a lawyer to have a read over them.
They're always legally watertight, but there is a great deal of wiggle room for the company. It's very much loaded in their favour.
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