Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Extended warranties are generally a crapshoot. Most pros say they are not worth it, though many buy it for what they think is peace of mind. A lot depends on what is actually covered. Generally no 2 contract companies are alike.
Here's a good article about extended warranties. http://www.nytimes.com/2008/08/02/bu...anted=all&_r=0
That depends, have you had any trouble with your car as of yet? If not, then don't buy it. If you have some problems, then it may be worth it, but only buy a Toyota warranty, not a third party.
Location: Butler County Ohio and Winters in Florida
929 posts, read 2,723,462 times
Reputation: 635
Have Warranty as long as you have payments IMO.
Unless you have a ton of money and you would not be hurting if you had to pay for a repair.
If you buy a warranty, buy one from the car manufacture, IE a Toyota for a Toyota.
They are usually better coverage for the customer. Some dealers got a way from OEM Extended Coverages because they can make more $ on the aftermarket contracts. Best to ask the Dealer Service Manager which is best as he or she takes most of the heat.
The warranty on our Toyota is about to expire. Should I renew or extend the one we have, or is it cheaper to be self insured, so to speak?
Extended warranties are a good idea when buying used cars because they are good insurance against problems that could be caused by the way the previous owner cared for the car. But if you're the only owner who ever had this car, and your factory warranty is up, you should know how you treated your car, and you should know if you should get another warranty.
The only reason to buy an extended warranty is if you fear the cost of repairs in the future. That is how the sellers of extended warranties work - they play on your fear.
But if you are a believer in odds (which you should be) - then you would know that these companies operate on cold hard data. They know that if you pay $2000 for an extended warranty, you are unlikely to use it all. So they make money. Buying an extended warranty is essentially paying for repairs in advance.
I do not fear repair costs in the future. If I am unlucky and something expensive breaks that would have been covered by a warranty - oh well. I know that over my lifetime of owning many vehicles I come out ahead by NOT buying extended warranties.
Extended warranties are a good idea when buying used cars because they are good insurance against problems that could be caused by the way the previous owner cared for the car. But if you're the only owner who ever had this car, and your factory warranty is up, you should know how you treated your car, and you should know if you should get another warranty.
That's solid advice. When the warranty expired on our 2007 XC90, I considered an extended warranty but it wouldn't have been worth it for the amount of driving we do annually. I can afford to replace any part of the car if needed. My theory is, if it starts breaking down I would just dump it and buy something new.
I do need to invest in a AAA membership at least, considering my Volvo is now out of warranty. If I owned a Toyota, I probably wouldn't be as concerned.
I have a 2013 F250 and I purchased the extended warranty. Mostly for the pieces of mind, but also because the Diesel engine is EXPENSIVE to fix if anything goes wrong. Maybe I'll get screwed and nothing will happen till right after warranty is up?
Who knows... I would rather pay my extra $2000 knowing the next 100,000 miles won't cost me a dollar. I had an '09 Jeep Wrangler before this truck and it would the biggest POS I have ever owned. It was my "dream" vehicle and the previous owner put a lot into it. But it was a nightmare maintenance wise. I didn't want to ever go through that experience again. I plan on keeping this truck 10-15 years so the warranty will also keep me current to make sure I take care of it and fix all problems as they come up.
[quote=houstan-dan;30167211]I have a 2013 F250 and I purchased the extended warranty. Mostly for the pieces of mind, but also because the Diesel engine is EXPENSIVE to fix if anything goes wrong. Maybe I'll get screwed and nothing will happen till right after warranty is up?
Who knows... I would rather pay my extra $2000 knowing the next 100,000 miles won't cost me a dollar. I had an '09 Jeep Wrangler before this truck and it would the biggest POS I have ever owned. It was my "dream" vehicle and the previous owner put a lot into it. But it was a nightmare maintenance wise. I didn't want to ever go through that experience again. I plan on keeping this truck 10-15 years so the warranty
Did you buy the manufacturers extended warranty (smart move if you want coverage) or did you buy a worthless piece of paper from an 'aftermarket' company?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
