OT:Extended Warr, New Car ???

Discussion in 'Credit Talk' started by BigH, Oct 24, 2002.

  1. BigH

    BigH Guest

    I am trying to find out if this is a sucker buy or
    a wise investment. Of course, I would not finance
    one, and greatfully my dealer did not ever ask.

    Has anyone saved any money in the long run by
    having one on a new vehicle? Thanks for reading
    and helping me out.

    (I know this is not really credit related but you guys
    have good info)

    H
     
  2. allen074

    allen074 Well-Known Member

    I bought mine about a yr ago on my 2000 jetta... I have not used it yet, but possibly might next week... There are LOADS of shady companies. I get spammed by 10-20 a day for auto warranties!

    I bought mine from the site below. So far their customer service has been excellent. http://www.warrantydirect.com/index.asp?

    You might read up on warranties at carbuyingtips.com. The guy has a lot of info on warranties.

    Mine was 700 for 6 yrs bump to bump.. meaning i can keep this car 8 yrs and put nothing in but oil and other misc maintenance.

    Feel free to e-mail me if you have more questions.

    Thanks,
    Allen
     
  3. BigH

    BigH Guest

    Thanks Allen. Any other opinions?
     
  4. chucky

    chucky Well-Known Member

    I wouldn't recommend buying one on a used car, let alone a new car. Most new cars have excellent bumper to bumper coverage for at least 3 years now anyway, which should cover any defects in workmanship. You also have the option to purchase an extended warranty down the road before the OEM one runs out.

    If you can find a good deal on an aftermarket warranty with bumper-to-bumper coverage, it might not be too bad, but no need to get it right away. My experience with these extended warranties is that they are not worth the paper they are printed on. Most have so many exclusions of things that are NOT covered that you have a hard time getting the company to pay up.

    On a positive note, I have heard good things about GM's OEM and extended warrany plans, but those are backed by GM directly. Others may have different experience.
     
  5. BigH

    BigH Guest

    Thanks Chucky. I was offered DaimlerChrysler's
    on my new Jeep. I guess I will wait. I know I would
    never finance one.

    H
     
  6. coralreef

    coralreef Well-Known Member

    I bought one on a used car. It WASN"T worth the paper it was printed on. Basically excludes everything somehow. ie. covers transmission however doesn't cover electrical components. therefore the input/output sensors that keep going out on my tranny are not covered. also excludes glass, thus when my power window quit working the part that broke was considered to be "part of the glass" It is one big expensive #$%^ joke!!!


    cor
     
  7. Kate

    Kate Well-Known Member

    I have bought both a new and used car warranty.

    I used the warranty on a rebuilt transmission on a used Sable I bought a year ago two months after I had the car.

    The rebuild was a 1000 dollars and the warranty covered every penny.

    I just purchased a 2002 Chevrolet Trailblazer and I bought the GMPP warrranty from GM.

    For me, warranties have paid well over what I initially purchased them for.

    I hope this helps.
     
  8. ppt3

    ppt3 Well-Known Member

    I had a transmission go bad on my 95 Aurora w/75k miles.$2800 was the replacement cost & I paid only a $50 deductible. Some things to help you make a decision. do you plan to keep the vehicle much longer than the factory warranty? Do you regularly drive in tough conditions? Are you good about routine maintenance? Also keep in mind if you purchase an extended while it is still under factory you can usually save big $.
     
  9. bigmon

    bigmon Well-Known Member

    Normally it's a lot cheaper getting it on your own than from the dealer. They mark up the price quite a bit. It's a real money maker for them.

    The thing to be careful of is some I've seen will charge you to diagnose the problem then reimburse you if it's covered. The scam here is the car or device is taken apart and if it's not covered they hold your car hostage until you pay for the labor.

    Read the contract carefully.
     
  10. BigH

    BigH Guest

    Thanks to all for the input. I will help in my final
    decision. Wish you all a happy holiday season!

    BigH

    Not so big anymore, since Aug 1, down by 80 Pounds!
     
  11. jlynn

    jlynn Well-Known Member

    Read the fine print. If you buy an extended warranty say for 3/36K on a new car, its from the date/mileage that you purchase it. Most manufacturers offer bumper to bumper on new ones. In other words, you will be duplicating your coverage, and the free warranty will run out at the same time as your "extended" warranty.
     
  12. anna

    anna Well-Known Member

    Big (or not-so-big) H,
    I too got a Liberty this year in early August. Still love it, no problems except the back door latch needed a minor ajustment. Anyways, I did not buy the warranty, never do. I get mail from Chrysler every week trying to sell me on it. To me, that's a dead giveaway that I don't need it. Off-topic, if you want to spruce it up, go to www.jparts.com then to Savage Sales and Service. They have the lowest prices and you get your stuff 2 days after you order it.
    Anna

    "IT'S A JEEP THING - YOU WOULDN'T UNDERSTAND"
     
  13. GEORGE

    GEORGE Well-Known Member

    Not a car...BUT my refrigerator had a service contract and I paid like 1/2 of what a new refrigerator would cost in the first 6 years...so I didn't renew...

    NOTHING EVER HAPPENED TILL LIKE YEAR 10 (icemaker problem about $70 parts and labor)
     
  14. MiamiBlues

    MiamiBlues Well-Known Member

    I purchased a new Honda Civic in June and the extended warranty was $2400. In addition to the warranty coverage you got oil changes & tire rotation. I told the finance guy that for $9.99 I can get my oil changed and tires rotated at Tires Plus.

    GEICO has a mechanical breakdown policy that's super reasonalbe. I had it on my Toyota Corolla and only had to use it once. The only drawback is that not all auto dealers/service centers will accept it. So you might have to pay for repairs up front and then submit a claim. The dedutable was $50 but I believe it's $100 now.
     

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