Extended vehicle warranties

[mranderson]

Yesterday, I had a sudden problem with my truck. I had the truck taken to a local Chevrolet dealer since it would not start, and here is what I was told.

Fuel pump and a leak. He told me of other things, but frankly, I really don't believe him on those.

The total bill before warranty deductable was $2,000.00. I paid $1,400.00 and some change for an extended warranty, extending the coverage to seven years and 100,000 miles.

Personally, after this experience, I HIGHLY recommend the expense. Thank God for the dealer talking me into it.

[Keith]

Yesterday, I had a sudden problem with my truck. I had the truck taken to a local Chevrolet dealer since it would not start, and here is what I was told.

Fuel pump and a leak. He told me of other things, but frankly, I really don't believe him on those.

The total bill before warranty deductable was $2,000.00. I paid $1,400.00 and some change for an extended warranty, extending the coverage to seven years and 100,000 miles.

Personally, after this experience, I HIGHLY recommend the expense. Thank God for the dealer talking me into it.

When my wife and I bought our Saturn a couple of weeks ago, we did not have a salesman try to sell us the extended warranty.....we asked for it. I have the same warranty as you, mranderson, and I feel more at ease. Now, just as long as my S-10 pickup or my son's Saturn does not have any problems, I'll be in great shape.

[Patrick]

For a purchase as large as a car, I think getting an extended warrant is well worth it. We got a 6 year extended warranty on my Nissan Sentra back in 1993 back when we bought it, and it paid for a new starter, alternator, and a few other things. The warranty paid for itself several times over.

Sure, if you never have problems with your car, a warranty probably isn't worth it, but it's taking a chance.

[Midtowner]

If you're living on a tight budget, they're smart to have.

I bought a $1500 warranty on my old '95 4-Runner. At some point, the car's transmission went out. I believe the bill had I paid it would have been around $4,000 to have a rebuilt transmission installed. I do remember the warranty company really balked at the repair because my car was in the shop for 4 weeks waiting for the work to be approved.

[mranderson]

If you're living on a tight budget, they're smart to have.

I bought a $1500 warranty on my old '95 4-Runner. At some point, the car's transmission went out. I believe the bill had I paid it would have been around $4,000 to have a rebuilt transmission installed. I do remember the warranty company really balked at the repair because my car was in the shop for 4 weeks waiting for the work to be approved.

So. What you are saying is if you are on a loose budget, you would rather pay $1,500 or more per repair? Humm. No wonder why so many people file bankruptcy.

[MadMonk]

I have two experiences to share on this subject.

1. I own a Plymouth Grand Voyager (purchased used) that does not have an extended warranty. I've had the transmission worked on three times now for a total expense of around $1,200. The warranty would have cost about $1,500. I think it would have been wise to get the warranty on this car. It only has 55,000 miles on it at present and I expect that a warranty would have paid for itself with this car in the coming years.

2. I also own a Jeep Grand Cherokee (also purchased used) that does have the warranty. It has just slightly less than 75,000 miles on it and it is my "daily driver" car to commute to work with. I have had the A/C system replaced along with repair work done on the transfer case (its 4WD), totalling over $3,500. My warranty cost $1,800. I'm pretty happy I have the warranty.

At least both of these cars are paid for. I really don't mind spending $400 to fix a transmission when a single payment on a new comparable car would be at least that.