Extended Warranty - Recommendations? Worth it?

[Mr Mike]

All of this extended Warrenty talk is another scare tactic for you to buy something you really don’t need! It’s like taking your car into a service department,they always come out and say this is bad and needs to be replaced right now! Find an honest repair shop and they will tell you , it’s BS! I’ve sat and watched them do this to almost every female customer in the waiting room. Most of them were new cars! Most dealerships are crooked as hell. I was told several times that something was bad , and every time it was a lie. Always get a second opinion from an honest mechanic.

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[2020 GT500]

It is simply an insurance policy: you are betting that you will use it and they are betting that you will not. Insurance companies don’t lose.

 

[Ranch]

All of this extended Warrenty talk is another scare tactic for you to buy something you really don’t need! It’s like taking your car into a service department,they always come out and say this is bad and needs to be replaced right now! Find an honest repair shop and they will tell you , it’s BS! I’ve sat and watched them do this to almost every female customer in the waiting room. Most of them were new cars! Most dealerships are crooked as hell. I was told several times that something was bad , and every time it was a lie. Always get a second opinion from an honest mechanic.

So I shouldn't buy an extended warranty because paying an independent repair shop to do needed repairs is going to be cheaper? How do I know if an independent repair shop is honest or not?

 

[Mr Mike]

Do your homework, if a repair shop has a good rep it will be known. If they are bad, they will also be known.

 

[Ranch]

Do your homework, if a repair shop has a good rep it will be known. If they are bad, they will also be known.

That sounds like good advice.

I'm still not sure what option makes the most economic sense. Pay more to get service done by an honest shop or get service done cheaper under an extended warranty.

 

[Mr Mike]

If you take care of you vehicle it will take care of you. I do all of my own oil changes and service work. I’ve been doing this for 50years. Ive only had to bring it in once for a factory recall. The maverick is my last vehicle I will buy, so I will do all of the service work myself.

 

[surfstar]

It is an insurance policy. They sell them because they make money selling them, not because it is a money making deal for the purchaser.

If you can afford to self insure, do so. You'll save money over your lifetime.

 

[Ranch]

It is an insurance policy. They sell them because they make money selling them, not because it is a money making deal for the purchaser.

If you can afford to self insure, do so. You'll save money over your lifetime.

I guess that you can put the two or three thousand dollars in a CD or high yield savings account instead of an extended warranty and use that to pay for any repair bills.

I'm just not sure if that will cover all repairs.

Some parts alone can run over a thousand dollars each and hourly rates are getting to be over 200 dollars an hour. You can easily get over a thousand dollars in labor for repairs.

 

[dochawk]

I figured that (from Granger) the 10/100/0 was about 5% of the price for the trucklet--and well under the cost of a couple of repairs that seem common enough to worry about.

And this being the first time in my life I've bought a vehicle thinking that I would sell it, I figured that it would help come sale time.

 

[Suzukiridr14]

Get the price from Granger.
Contact your local dealer or the one where you bought your truck.
Give them the opportunity to match it.

They won't match it because you will tell other buyers that they did. Just get a ESP from Granger.

 

[Suzukiridr14]

I have two 16 year dodges that have not needed an extended warranty. I think its a money grab, but like I stated, if it gives you peace of mind go for it.

16 year old vehicles don't have all the electronics todays vehicles have. One computer goes bad, and your policy is paid for!

 

[surfstar]

I guess that you can put the two or three thousand dollars in a CD or high yield savings account instead of an extended warranty and use that to pay for any repair bills.

I'm just not sure if that will cover all repairs.

Some parts alone can run over a thousand dollars each and hourly rates are getting to be over 200 dollars an hour. You can easily get over a thousand dollars in labor for repairs.

Yup.
or you can blow through the miles/years without ever claiming a dime against your warranty

 

[surfstar]

16 year old vehicles don't have all the electronics todays vehicles have. One computer goes bad, and your policy is paid for!

Your thinking is how they sell these policies. Remember, they wouldn't sell them if they were losing money on them.

"Computers" don't just go bad, especially after 3 years and 36k miles. If they are going to fail, they are likely to fail early on and be covered.

 

[Raymundo76]

They won't match it because you will tell other buyers that they did. Just get a ESP from Granger.

Not only did they not match, they didn't even call me back !

 

[grumpyunk]

"Computers" don't just go bad, especially after 3 years and 36k miles. If they are going to fail, they are likely to fail early on and be covered.

They can go bad. Had one in a Thunderbird that would not start unless you waited for the 'fuel pump prime' to finish its run. If you tried to start with the pump running, it would not fire. Wait for the pump to calm down and it started normally.
I replaced the ECM with one from Advance, and it worked as it should.
No external damage, the computer was in the passenger kick panel, and normally no one rode in the passenger seat, but it did not work propely. Getting the spouse to report the problem... that does not always happen as soon as it should. I noticed it, and tried to figure what else it couild be causing the no-start(it would not start no matter how long it was being cranked over) and discovered the pump prime indicator.
So... they can and do fail. The thing worked fine for years. I can't remember if I took the cover off to inspect for failed electrolytic capacitors. I think I did, but they were fine.
tom

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