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Old 08-15-2011, 02:18 PM   #15
kmcd
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The numbers favor the seller with any extended warranty. They don't sell them to lose money, so the odds are stacked against you using the warranty enough to make it pay off.

That said, it's also just like an insurance policy. If you can afford the warranty, but you can't afford a major repair, you may be able to justify buying it. You just need to understand that the statistics used to determine the price of the warranty say you're probably going to give them more money than they will ever pay out repairing your vehicle.
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Old 08-15-2011, 02:28 PM   #16
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As with anything you buy at the dealership, it boils down to YOUR overall goals for the car.

If you plan on keeping it for a long time or do alot of miles, I suggest getting it. They DO tend to pay off over time - but it is always a crap shoot.

If you plan on mods, or it's just a weekend warrior, don't bother. Use the money to do some upgrades instead.

Always remember, EVERYTHING bought at a dealership is negotiable. Get a deal on one and it'll usually make sense.
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Old 08-15-2011, 03:57 PM   #17
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I'm with "kmcd" and I've learned my lesson with extended warranty, which I purchased on my boat and lost out on a ton of money.

Dealer's make a gang of money on these things. My personal feeling is, if your gonna get an extended warranty, which in all probability, will be financed via your loan, which means you're actually paying more in the long term, why not just set that amount in the bank. You're not only earning interest on your own money, but it's there in the bank, readily available, if you're car takes a dump.
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Old 08-15-2011, 04:24 PM   #18
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The extended warranty doesn't add anything to your powertrain warranty. It does cover the components in your bumper to bumper warranty. So if you're like me and enjoy doing performance work and upgrades to your car but have no interest in working on crap like window motors, heater, ac, power seats, audio etc and plan on keeping the car for a while it may be well worth it. I've had my car for almost 1 1/2 years and have almost reached the 36,000 mark without the extended warranty I would be on my own for all the items in your bumper to bumper, if you had to have your dealer fix any one or two of those items without the warranty it would most likely extend beyond the cost of the warranty. So it depends largely on your plans with the car and how much you drive
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