Extended Warranty for a Vehicle

[NightWatch]

With all of the electronics in new vehicles, what does everyone think about purchasing an extended warranty for a new car? We are looking at a 2015 model with a few thousand miles on it. Is it worth $1,800 to extend the manufacturer's warrant from 3/36,000 to 7/100,000? This is a Toyota van with power sliding doors, lift gate, touch screen media center, etc.

I know it's like life insurance - it's helpful if you need it..... I was just curious what experiences all of you have had with extended warranties and vehicles.

 

[Ship Wreck PE]

I try to stay away from the extended warranties.

The salespeople make a ton of commission off of everyone they sell. It is a big money business, and odds are you are going to loose, and they will make millions.

 

[Supe]

If you can get it through the dealership or OEM, it MAY be worth it. The aftermarket ones will try to drill you with exclusions out the wazoo, e.g., x component was defective, but we had to move a-w, y, and z to get at it, so that labor is excluded from your warranty.

 

[snickerd3]

my 2012 pilot has something like 17 boards to control the different electronics. We bought the warrantee because the dealership has a deal if you don't use it you can get your $ back at the end of the warantee period if you keep and return a specifc pieceof paper. we plan on keep this car for awhile and have every intention of getting the $ back if we don't need the extened waranty.

 

[jeb6294]

One important question to consider if you're getting a minivan...would the extended warranty cover the soccer ball/stick family/honor roll stickers on the back?

Generally, if nothing craps out in the beginning and you are fine for 3 years, then chances are they'll make 7 without a problem. My mom had an '06 Toyota Sienna with over 120K on it with minimal issues...nothing that would have needed an extended warranty. The only reason she doesn't have it anymore is because someone hit her at an intersection a few days ago. She's actually upset about it because she wanted to get it fixed but she just found out the insurance company totaled it.

 

[Lumber Jim]

^ sorry to hear that Jeb.

Mom Okay?

 

[MetsFan]

I got the extended warranty on the Touareg. It came out to $1800 for an additional 6 years / 60,000 miles after the original warranty expires. After reading some horror stories on the older models, I figured it would be a good idea to get it, especially since it's the first model year.

I bought mine from a dealer in NJ since he had the lowest price on it. The dealer by me wanted $2200.

 

[engineergurl]

We actually walked away from a lot this weekend because I didn't like the warranty that was NOT being offered to us... that and the sales person made a really ***** comment to be about what my husband says, goes... um not if I am paying for it, you just lost what should have been your easiest sale all year (not to mention the fact that we are actually shopping for 2 vehicles)

 

[P-E]

I try to stay away from the extended warranties.

The salespeople make a ton of commission off of everyone they sell. It is a big money business, and odds are you are going to loose, and they will make millions.

I try to stay away from the extended warranties.

The salespeople make a ton of commission off of everyone they sell. It is a big money business, and odds are you are going to loose, and they will make millions.

I agree with Ship. Wife got one for her car. Couldn't talk her out of it. Winner was the dealer on that one.

 

[jeb6294]

^ sorry to hear that Jeb.

Mom Okay?

She was taking my nephew to his baseball game at the time, but they were both fine. She's more bothered by the fact that her car was paid for so she's going to have to figure out how to start doing a car payment again now that she's retired.

 

[ptatohed]

With all of the electronics in new vehicles, what does everyone think about purchasing an extended warranty for a new car? We are looking at a 2015 model with a few thousand miles on it. Is it worth $1,800 to extend the manufacturer's warrant from 3/36,000 to 7/100,000? This is a Toyota van with power sliding doors, lift gate, touch screen media center, etc.

I know it's like life insurance - it's helpful if you need it..... I was just curious what experiences all of you have had with extended warranties and vehicles.

[SIZE=10.5pt]I believe Consumer Reports generally recommends against paying for extended warranties. I think their reasoning is, if you saved all the money you would have spent on warranties (Car, TV, Stereo, Laptop, BD Player, Camera, Video Camera, Appliances, etc.), you’d have more than enough money to fix the one or two things that may break, if anything. If nothing breaks, you are way ahead of the game. If you do have a few failures, you’ll likely be ahead of the game just paying for those few failures out of pocket. Heck, sometimes you want things to fail. When my 5.1 receiver broke, it was a great excuse to go 7.1! [/SIZE]

 

[jglavin PE]

I extended the warranty on my Tacoma to 100k and luck would have it I had a bunch of things go wrong between 60k and 100k. I got about $4000 worth of work out of that warranty.

Of course, it could have just as easily gone the other way.