Community Chat

[shellbeach]

I bought my car new 3 years ago. At the time, I declined getting the extended warranty as I knew the car was covered for 3 years under the manufacturer warranty.  Now that my car is out of warranty, I have been bombarded with messages, letters, etc. to puchase an extended warranty from all kinds of "warranty companies".  WIth all the electronics on these new cars nowadays, I was wondering if it might be worth it. However, I also know getting these kinds of policies can be a real slippery slope if you actually try to collect anything for repairs.  Anyone have any experiences good or bad?  

[on the bay]

@shellbeach -

I only have experience with getting the extended manufaturers/dealers warranty and I'm glad I did. I have used it many times and saved myself thousands of dollars.

I did buy a used car though.

I think I would have to research very closely all those offers I was being sent and the costs.

[Kachina624]

I get those offers all the time and my SUV is 16 years old.  I can only imagine how difficult it would be to actually collect anything.

[Tylerpoo]

Those warranty companies are usually scammers. Check out the price the next time they call, the prices are outragous. A bad experience from everyone that had gotten them.!

[Ibby114]

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@on the bay wrote:

@shellbeach -

I only have experience with getting the extended manufaturers/dealers warranty and I'm glad I did. I have used it many times and saved myself thousands of dollars.

I did buy a used car though.

I think I would have to research very closely all those offers I was being sent and the costs.

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@on the bay @shellbeach  but at the same time the extended warranties can cost thousands of dollars! It's really a toss of the dice ; the only time I bought it from the dealer was when i used it as a negotating tool for the price of the car- plus to get the lower interest rate.

Listen to your gut instinct @shellbeach  - you didnt buy one initially!! Check all the exclusions - that's usually an easier part of the 'offer'  to review than what's actually covered.

[on the bay]

@Ibby114 -

Those are very good points.

I was lucky to get a low additional cost from the hyundai dealer for a warranty I don't know if they offer any more.

I too would be wary of all the companies who bombard you with offers and yes to read their exclusions would probably give more information that what they cover.

I would look for reviews of these companies on the internet.

[deb5555]

What if the warranty place goes out of business, all that money wasted...Ask who will help you then?  Look them up on the better business bureau to see their history good or bad. 

[esmerelda]

@shellbeach  I trash those warranty offers when I get them.  If it makes you feel better, open a savings account and call it “car repairs” and put money in it regularly.  Then you’re a bit prepared if needed. 

[Lipstickdiva]

I would never even think about getting an extended warranty from any of those companies that call.  Those are usually scams. This has been all over the news.

I declined to buy it for my car at the time I purchased it and I really should have got it but you never know.  If you really want an extended warranty, you can go back to the dealership and ask them how much it would be to buy one now.  About 2 months after my regular warranty expired on my car, I had a $600.00 repair.  A couple months after that I had a nearly $900.00 repair.  When I went to inquire about purchasing the warranty, I believe it was close to $2,000.00 for the longest and most comprehensive coverage.  I walked out and didn't buy it.  A few months later I had a $1,700.00 repair bill and right now there are a few things wrong with my car that are going to be expensive fixes. 

OTOH, my DH bought the extended warranty for his car and never used it.  Total waste of money.

[NickNack]

I would never get an extended warranty from one of those mailers.  I get them all the time, too.  I don't buy extended warranties on my cars, but if I did I would only buy them from the dealer.