Extended warranties on cars...what do you think?

[project15]

Re: Extended warranties on cars...what do you think?

From what I've read, the cost of a warenty from a dealership is negotiable just like anything else about a car deal. You can also buy your OWN warenty straight from the warenty company and cut out the dealer. If you want a warenty, price out some on your own, then see what the dealer can do for you, and go with the cheapest one.

I've come to learn that cheap does not always mean best. I feel that the warranty I got was pretty decent, however some that I've seen online are cheaper, but the reviews on the service haven't been that great.

[MonkeyMama]

Re: Extended warranties on cars...what do you think?

I just wanted to clarify which I didn't really clarify in terms of warranty - that I would NEVER take my car to a dealer. I have a very trusted mechanic - in fact 2. For that reason I never get screwed over by car repairs. #2 - I only buy used cars very researched, ones that do not tend to have problems. I know it is not foolproof, but so far in 14 years of driving it has done me well. The people I know with much newer cars always have more problems. Of course one of the keys is regular maintenance of your car (oil and fluid levels, belts, etc.) to avoid bigger problems down the road. BUT nothing beyond what your trusted mechanic recommends. Every time I go to Jiffy Lube I get a list a mile long of "repairs" and I go ask my mechanic, he says BS, and I drive my cars until 200k miles plus.

Plus seriously if you do put all of the money from any extended warranty into a "Repair" fund instead, you WILL come out ahead. It's an odds game. If you have really bad luck, go for the warranty I guess. I know people with the bad luck, but I think they are just "Scammed" more honestly. Greedychips lays it out pretty well. Ditch the extended warranty and find a good, honest, trusted mechanic. IT will save you thousands over your lifetime.