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Warranties in general are a rip-off compared to what you spend on them. As was said before for the seller they are like selling insurance at a huge premium over the average payout. In fact by buying used cars that come off warranty you can generally save thousands over what you would pay otherwise. Just doing a good inspection on the vehicle, diagnosing the service records, and checking ownership records can tell you a lot about how well a vehicle was maintained. When you look at the cost difference short of major problems like dropping a tranny or having to rebuild an engine the price difference doesn't make sense.
Consider Manufacturers Extended Warranty on High End Automobiles
I've done quite a few Automotive Arbitration Cases... Lemon Law... and the only "Extended Warranty" that I would consider is on a new car and then only a plan offered by the manufacturer and only if I planned to keep the car after the original warranty period.
I don't know anyone that has bought an Extended Manufacturer's Warranty on a new GM, BMW or Rover, on my advice, that has not thanked me later.
High End Auto Repair is very expensive and many times the Dealer is your only option...
So, if you plan on keeping one of these cars for an extended period of time... consider it and remember Manufacturer Warranties are negotiable just like anything else. So don't pay list price and you are not limited to buying it from your selling Dealer. Any new car Dealer selling that Brand can sell you the Factory Extended Warranty
I DO NOT recommend buying any second or private party warranties... period. I have seen way too many problems getting legitimate reimbursement for covered repairs, if at all.
I DO NOT recommend buying any second or private party warranties... period. I have seen way too many problems getting legitimate reimbursement for covered repairs, if at all.
as a former service writer at a dealership, +1 on this. it's always a PITA to work with these, there's always something the customer isn't aware of like, say diagnostics isn't covered, or certain problems aren't covered but seem like they should be, etc.
If the Jeep is still under the factory warranty then you should be able to get something better than a 3/36. Say something along the lines of 60 months/upto 100K miles. The way I look at it you have coverage on yourself (health and life), coverage on your home (fire, flood, tornado, etc), you have accident coverage on your vehicle.. You hope not to have to use them but just incase you do you have it. This is the same way. May think you wont need it but once the transmission goes out and you have to pay $3k out of pocket that you may...or may not have then you will be wishing you have spent that $1200 to get the coverage. It may be advertised as bumper-to-bumpber but I would be willing to be it has exclusions.
I hear alot of complaint about how hard it is to get stuff paid for or work with the company. I work at an "extended warranty" company and have been in both the claims dept and the admin dept. Alot of the problems come from customers not reading thier coverage. READ ALL OF THE MATERIAL YOU ARE GIVEN. I cant emphasize that enough. As far as being hard to work with it may vary by company and thier practices. On occasion you will run into a snag, who doesnt?
Also, contact your local Credit Union and your personal auto insurance carrier as they may offer "extended warranty" also referred to as Mechanical Breakdown coverage. However, in some cases the coverage must be purchased while the vehicle still has 30 days and 1000 miles remaining on the factory warranty, but the longer you wait the more miles you put on the vehicle the more expensive the coverage will be.
Remember hindsight is 20-20. If you would like to discuss this further please send me a direct message and I would be happy to answer any questions.
Disclaimer: I am by no means trying to sell this coverage, I am not in that department and do not/would not make any type of commission. I am just providing my inside views of the industry.
I just bought an inexpensive little Suzuki SX4 crossover (front wheel drive, switchable to AWD and locked AWD, and I've been averaging about 32 mpg), and paid $600 to extend the factory 3/36 bumper-to-bumper, wth oil changes and regular service, to 7/100 (which was the power train warranty). The extended warranty is from Suzuki and is available at any dealership. Since my plan is to put a lot of miles on this car and pretty much drive it into the ground over the next 10 years or so, it seemed like a reasonable expense.
I hear alot of complaint about how hard it is to get stuff paid for or work with the company. I work at an "extended warranty" company and have been in both the claims dept and the admin dept. Alot of the problems come from customers not reading thier coverage. READ ALL OF THE MATERIAL YOU ARE GIVEN. I cant emphasize that enough. As far as being hard to work with it may vary by company and thier practices. On occasion you will run into a snag, who doesnt?
Also, contact your local Credit Union and your personal auto insurance carrier as they may offer "extended warranty" also referred to as Mechanical Breakdown coverage. However, in some cases the coverage must be purchased while the vehicle still has 30 days and 1000 miles remaining on the factory warranty, but the longer you wait the more miles you put on the vehicle the more expensive the coverage will be.
If you are going to purchase a service contract, do not ever purchase one from anybody except for the manufacturer of the vehicle. The consumer protection laws do not protect you when you purchase a service contract. The contract will say insured by, CARRG, for example, however, the company that is "insuring" the contract is usually the very same company that your purchasing the contract from! See the link above, folks.
I thought i was being smart, instead, it looks as if i've been legally robbed of $1600 and don't have a "warranty".
For those of you who have ever purchased used cars that are still under manufacture warranties, did you opt to purchase an extended warranty from the used car dealership?
Why or why not?
I am going to be signing papers for a 2006 Jeep Liberty tomorrow. This will be my second Jeep purchase. From looking at the Liberty myself, it looks near mint. The vehicle report that I have for it doesn't show anything that would cause concern either. For $1200 I could have a better sense of "piece of mind" but also have my payments higher than I wanted them to be. What are your thoughts? Have you ever had to depend on your warranty, especially with Jeep models?
No no, not for me. They just want more money out of you. Those extended warranties can really make a car expensive. Usually it's like nearly $2,000 extra for these extended warranties. If you do regular maintenance on your vehicle you shouldn't have problems until you've got over 100,000 miles.
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Consider Manufacturers Extended Warranty on High End Automobiles
