Would you buy an extended warranty for your car?

I did for my old Toyota and it was worth it. Am pondering for my new car...

It's part of the negotiations I go through when I buy a new car. I'm not mechanically inclined at all and being a female, it always felt like I was being taken advantage of when I had to pay for car repair.

With the extended warranty, I can tell them what it's doing and it gets fixed the right way. Less for me to worry about.

buying an extended warranty doesn't make sense. Insisting on the shop version of the owner's manual does.

OOoo! I never realized they were different. Thanks for the tip! :yourock:

are about 3 inches thick and cost nearly $100....at least they used to be. Now many of them are online, but I don't know if an individual can access them. But it is a good idea to ask about them, because I know that at least Deimler-Chrysler still prints them.

keep a car much longer now. It has paid off twice. I have it on my wife's car. They are expensive but it is a hell of a lot more expensive if you drive a lot and keep one for a lot of miles and don't have it.

Crayon part way into Homer's brain: "De-fense.. Woof Woof! De-fense.. Woof Woof!"

Crayon all the way in: "Extended warranty, how can I lose?" and "Who wants lottery tickets!?"

That says it all. Trust The Simpsons.

Okey dokey...

the 7/70...i only have 62k on it...but when i bought it, i thought i'd be driving more. and if i hadn't bought it? well i have the kinda luck that just screams "belt and suspenders! belt and suspenders!". actually a week or so after the expiration date, the distributer need to be replaced, so i should have gone with the 8/80

If you put a lot of miles on the car in the course of your work or whatever, it can be a good idea. For the most part, they're not worth the extra money that you spend. Most vehicles nowadays are not prone to major problems within the life of the warranty, even an extended one. Preventative maintenence is the key to a long life on your vehicle - regular oil changes, tune ups and tire rotation, keeping your tires filled to the proper psi, using the correct fluids, etc.

Many cars now come with a 3 or 4 year factory warranty, and if there's going to be a major systemic failure (read: lemon), it'll probably happen within that time frame.

The biggest gyp is that the extended warranty may may carry you out 2 or 3 years beyond the factory warranty. Same case, especially if the car has an average number (or less) of miles put on it.

However, if one has to do some serious driving, for business, say, it make sense to have the additional protection.

Like all insurance, though, it's a gamble. The odds say that you don't need it. But then there's always...:)

absolutely correct.

I used to be the guy that sells the warranties, in the Finance office, where you sign the contracts and such.

Make your decision about a warranty based on the peace of mind it will provide you.

The bottom line if you buy it...

1. Only purchase the factory extended warranty. Never purchase an extended warranty after-market (the non-factory version). Even if it's lots cheaper. Which brings me to...

2. Always purchase it for the absolute lowest possible price (just like you bought your car, hopefully). Prices are all over the board, from $1200 to $5000, depending on manufacturer. There's usually 50% or more margin in the first price you are quoted. Your counter-offer should be about 33% of that (and gauge the reaction of the representative carefully. If they don't freak out then there's still a decent profit in it. If they do freak out then you will want to come up some, to 40% or so.)

You should be able to purchase bumper-to-bumper coverage for 5 years or 100,000 miles on nearly any car, domestic or import, for under $1000.

If you can adjust the deductible to get the price lower, do so. Never sacrifice coverage. Which leads me to...

3. Only purchase b-to-b coverage. Nothing will make you angrier than to discover that you have a warranty that doesn't cover what happens to go wrong with your car. This is how the warranty companies control costs (as does every other insurer): they red-line certain repairs.

They can't do that if you have full coverage.

3. Remember that you have the option of purchasing extended service at any time your car still remains under its factory warranty (3/36 for most domestic and import non-luxury cars). Dealers sell many warranties 2 1/2 years after the car is sold -- on a car with 35,500 miles -- and many will offer a payment plan, some with no interest.