Extended Warranty on Used Vehicle

[yamahauler]

I am wondering if anyone has purchased an extended warranty after the factory warranty has run out?

Was it purchased through the car mfg or a private company?

What was the company name?

Good, bad, not worth it?

Thanks,
Nate

 

[G]

I bought an extended warranty from a private company when I purchased a 1 year old chev pickup. When the tranny puked at 70000 miles I thought I was covered. However by the time all the deductables and fees and extras were added up it still cost me $900.00. So for me it was a ripoff. I have heard other horror stories about these private warranty outfits. Never again for me.

 

[gary_in_neenah]

I've learned that Extended Warranties are essentially Insurance Premiums. They're betting that time runs out before something breaks. If you extend it long enough to cover repairs, you'll likely pay for those repairs with your premiums/warranty payment.

 

[harvest1121]

If the warranty was not bought from a dealer would not waste my money.

 

[borderstaff]

I bought the extended warranty on a used S-10 Blazer years ago. I think I paid about $900 for it but with about 2 weeks to go before it was expired I went through the car with a fine-tooth comb and came up with a lot of stuff to be repaired that was covered. I think the total bill was about $2300 in repairs that cost me (I think) a $100 deductible. Granted it was mosty just gaskets that weren't super critical (valve cover leaks etc.) but I felt that I got my moneys worth.

Would I buy one again - no. I could have done all the same repairs in half the time it took the dealer and most of the leaks were superficial. And my warranty didn't include a rental car so there was that problem to arrange.

Just my .02

 

[fcat700]

I would visit with the service guys at the shop where you have your service done, ask them who they use and who they have experience with. Part of my job as the Sales Manager at a Volkswagen/Audi dealership is to sell service contracts and I'd be happy to talk to you about them. One thing I will say is if you decide to buy one, buy it locally so if you have issues you'll have some one to help you with the issue. My work number is toll free 888-788-8808 ask for Paul if you care to visit.

 

[doo_dr]

They are not much better than Dental Insurance

I have on occasion purchased an extended warranty. It has always been from a Cerified dealer. This way you can take it to any certified dealer. Mine was from GM services. I viewed it as a insurance policy on the big ticket items(rear end, trans, engine, ECU). The policy had road side/vacation provisions( towing and rental) and was good at any GM dealer or approved service center. It was a 3yr $1200 insurance package. My thought was that if I pull the guts out of a tranny on vacation it could cost in excess of 4k (Towing, rental, service, etc.., loss of time trying to resolve the issue). $400/ year was worth it for me. There are alot of policies out there. Take the advice above, talk to your local dealer in the service dept and see which one they have dealt with to get pro's and con's. Everyone has an opinion on insurance policy's so the final is what you think of spending your money on. The only real advice I will give you is READ the policy, ask alot of questions, and never buy a policy that doesn't pay the service center directly. If your trying to buy a policy for window motors and alternators---Save the money in your own bank. You'll get farther.

 

[caged_beagle]

Buy a Branded Warranty

If the warranty was not bought from a dealer would not waste my money.

I'm in total agreeance with harvest! In my experience you will be happy if you buy the branded warranty. Meaning if you're at a GM dealer purchase the GMAC extended warranty directly from them, if you're buying a Ford buy their Premium Care warranty and so on. I have heard horror stories by people that have bought the "aftermarket" warranty plans from private co's.

________________________

 

[snow_monkey]

If the warranty was not bought from a dealer would not waste my money.

X'2 From the manufacture is the only way to go.

 

[lx700kev]

X'2 From the manufacture is the only way to go.

X3. Buy a branded extended warranty. Better coverage....AND NO LOOPHOLES. Aftermarket companies seem to look for loopholes and ways not to cover things. This leads to deductables PLUS "things not covered" charges. Also, who's to say this aftermarket company won't to out of biz? Generally,manufacturer warranties are more complete......meaning if its covered, the deductable is all you owe. Also the big 3 aren't going anywhere.Any dealer anywhere can yake care of you with no questions.
Yes, it is an insurance policy. You have fire insurance on your house? Of course you do.... What is more likely to happen, your house catch fire or your vehicle break down?
Extended warranties are a good buy unless you have money to burn and can afford it if your tranny, engine, air conditioner ect ect takes a crap.

I live and work at a dealer and my .02 is buy extended warranty.