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Extended warranty on Used Vehicles


fishnsled
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Just thought I 'd see how the majority feels about this. Personally I've only done it once and is was a waste of money, imo. Had 3 trucks since and never would have used it then as well if I had bought it. I figured I've saved over 2G's buy not making the purchase on those trucks. However, they're not making them like they use to, and wonder if is worth the money or not. :dunno: The warranties range in price from $1000 for the power train - $3200 for what is almost a bumper to bumper for a 80K / 4 year plan.

 

Thanks for your input.

Edited by fishnsled
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i'd say do it if it's a mfg's warranty... i'd go bumper to bumper...

 

in all honesty, it's pretty rare to blow a motor/tranny...

 

lots of little electronics and crap that can go wrong, and it sure adds up quickly...

 

like everything though, you take a chance... look at it as peace of mind...

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I bought a used Honda Pilot from a dealer last spring and did purchase the extended warranty it was $1500 bumper to bumper for four more years. That works out to $375 per year, $31.25 per month or $1.03 per day!!!!!! Less than a cup of coffee. When you are buying a used car you really don't know how the last owner took care of it. A buck a day is pretty cheap insurance. I have a couple of minor issues that need to be taken care of 1/ faulty air bag sensor 2/ faulty srivers side window switch. The repairs for these two little items would likely be between $500 and $1000!!! If something more serious were to break like a transmission, transfercase or differential we're talking thousands. I have heard of people paying up to $5000 for a tranny!!!!

If you are buying through a dealership I would buy the warranty through them.

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scam, its basically an addon for salesmen, did you want fries with that?

 

neat (and expensive) way to find out how loopholes work, adding legal jargon to mechanical technojargon plus some ambiguous words = you pay, you lose.

 

try reading one...or have it explained to you by someone not getting commssion on it (ie someone outside the dealership) LOL

Edited by Kirk
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No. Huge waste of cash. Imagine how much warrantee work has to be done to recoup the money outlaid. You'd be better off putting that money in a savings account and using it in case of a problem or putting it toward your next vehicle. Of course, if you're buying a vehicle with 300,000 km on it then go ahead and buy it.

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it can really go either way, u could get a vehicle and have the warrenty and never use it, or u may need it if somethin big happens. and same goes for gettin a vehicle and not gettin the warrenty, u may never need it and think hey, i saved a ton by not gettin it, but think if somethin does go wrong, and u gotta shell out 3 or 4 grand in repairs, u'll be sayin damn, i should have got the warrenty. i personally am glad i got it, i bought a 2002 dodge dakota, and had some minor issues and a couple bigger problems that the warrenty saved my behind on. like when they had to rebuild the transmission!

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Bought a used 2002 Grand Am for my wife and she wanted the Warranty. 3rd party warranty. Good thing I did, ended up with a cracked cylinder wall. . All and all it cost the warranty company 3,500.00 to fix it. 3 weeks later my son wrote off the car. And all he had to pay me back was the deductible.

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As long as it's a manufacturer warranty, and not 3rd party then yes.

 

3rd party warranties are garbage.

 

$1000 for a window switch? Are you driving a Maserati? :)

 

For the two problems.

The sensor is about $100 +- plus labour and the switch is like $300 + plus labour.

Sensor labour 1 hour and switch labour 1.5 hours.

The local labour rate up here would blow your mind. At Canadian Tire the hourly rate is $120 with the dealers being a few $$$$ more!!!!! :w00t:

So that bill would work out to about $700 as I'm just guessing on the parts cost. I'm pretty sure it would be more.

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My 2006 Odyesee had the extended warranty ($1150 for 4 years or 130,00km)

 

Rear seat cable ( allows seat to fold down) failed at 90,000km

Power steering pump at 129,800km !

 

Glad I had the warranty.

 

No experience with 3 rd party would be sure to read all the fine print

 

TB

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i drive about 60 000km a year so a warranty doesnt last me very long so i would say no. But if your only doing like 15k a year then go for it. Just remember change your oil every 5000km or less. Dont mess around. Cars should last you 10 years if taken care of. Of course there are always lemons out there but they are lemons from the begining.

 

The best used cars are off lease because in most cases they are treated well and just traded in cause the lease is up not because there are issues with them.

 

Cheers!

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