topic Re: Extended car warranty in Community Chat

Extended car warranty

shellbeach — Wed, 11 Sep 2019 17:49:56 GMT

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?

Re: Extended car warranty

on the bay — Wed, 11 Sep 2019 17:54:09 GMT

@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.

Re: Extended car warranty

Kachina624 — Wed, 11 Sep 2019 17:57:35 GMT

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.

Re: Extended car warranty

Tylerpoo — Wed, 11 Sep 2019 18:00:16 GMT

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.!

Re: Extended car warranty

Ibby114 — Wed, 11 Sep 2019 18:17:48 GMT

@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.

@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.

Re: Extended car warranty

on the bay — Wed, 11 Sep 2019 18:29:51 GMT

@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.

Re: Extended car warranty

deb5555 — Wed, 11 Sep 2019 18:30:18 GMT

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.

Re: Extended car warranty

esmerelda — Wed, 11 Sep 2019 18:40:12 GMT

@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.

Re: Extended car warranty

Lipstickdiva — Wed, 11 Sep 2019 18:45:44 GMT

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.

Re: Extended car warranty

NickNack — Wed, 11 Sep 2019 18:46:07 GMT

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.

Re: Extended car warranty

2blonde — Wed, 11 Sep 2019 18:48:27 GMT

@shellbeach I'm a pay-as-you-go kind of person. I've never bought an extended warranty on anything, and have never regretted it. Keep one thing in mind, if they weren't making money on these warranties, they wouldn't be chasing us around to buy them. My car is a 2014, and I still get those offers in the mail. It's direct mail......direct from the mailbox into the trash.

Re: Extended car warranty

Lipstickdiva — Wed, 11 Sep 2019 18:51:57 GMT

@2blonde wrote:
@shellbeach I'm a pay-as-you-go kind of person. I've never bought an extended warranty on anything, and have never regretted it. Keep one thing in mind, if they weren't making money on these warranties, they wouldn't be chasing us around to buy them. My car is a 2014, and I still get those offers in the mail. It's direct mail......direct from the mailbox into the trash.

Yep. My care is a 2011 and I still get those calls. I can guarantee you they aren't going to pay for anything on an 8 year old car. They are just going to rip me off. LOL

Re: Extended car warranty

Catty2 — Wed, 11 Sep 2019 18:54:33 GMT

I usually buy the extended warranty when I purchase the car. Over the years there have been a few cars where I got my money's worth and times when I never needed to use it. It's kind of a toss up and they are expensive.

Re: Extended car warranty

Lipstickdiva — Wed, 11 Sep 2019 18:58:28 GMT

I know there have been previous discussions on this board about these extended warranties. I want to think some have said you can buy the warranty directly through GM, Ford, etc. and they are much cheaper.

My sister was a finance manager for years at a dealership and I know she said selling those warranties is where they made a lot of money.

Re: Extended car warranty

corita — Wed, 11 Sep 2019 19:05:18 GMT

I keep seeing ads for 'Car Sheild'. One of those insurance deals like the ones for house appliances. The reviews are not really good. Have wondered if anyone here has used them???

Re: Extended car warranty

Mz iMac — Wed, 11 Sep 2019 19:08:41 GMT

Check w/your car manufacturer to see if they offer extended warranties. If so, I would get that rather than one from a 3rd party.

I negotiated a 10 yr warranty up from 7 w/my dealer. The car manufacturer offers extended warranties. At the time I purchased (2017), the car manufacturerer had 3 types of extended warranties. The top one was called "Premium" XXX which covered "everything" from front to back-top to bottom for a little over $2k. No where in the paperwork does it mention if that price will be the same in 2027. Not even within the fine small print.

I suspect that price will be good right up until the last day of my regular warranty. After that.......the skies the limit!

With any extended warranty, you MUST whip out your microscope & magnafying glass to read the small & fine print.

GOOD LUCK!

Re: Extended car warranty

Spurt — Wed, 11 Sep 2019 19:14:36 GMT

@shellbeach

I get telemarketing calls and junk mail from these warranty companies all time....To me they are a bunch of scammers....

Re: Extended car warranty

Mz iMac — Wed, 11 Sep 2019 19:17:03 GMT

@corita Funny you should ask! I am taking my neighbor to the repair shop this afternoon to pick up her car. Car Shield paid 100% of her repairs.

A lot of my neighbors w/older cars have Car Shield. Never heard of any complaints from them. There are different Car Shield plans that fit your financial situation.

It appears from my observation that you get your $$$ worth if your car is 10 yrs+. My neighbors car in the shop is 12 yrs old.

Re: Extended car warranty

mimomof4 — Wed, 11 Sep 2019 19:24:00 GMT

If you really want an Extended warranty I wouldn't do it through any of those calls you are receiving.

The only reason for getting one at this point that I could see was if you had some issues with the car while it was in warranty. If that was the case I would call the dealer you purchased the car from to see if there are extended warranties they could recommend.

Your car should no immediately start falling apart once it goes past its warranty. Depended on the type of car you have some parts may still be under warranty.

I was with my MIL when she paid off her car. While it was out of the 36 month warranty she only had 18,000 miles on it. I talked her out of the extended warranty. At this point there is no way that car should start giving her troubles.

Re: Extended car warranty

Ibby114 — Wed, 11 Sep 2019 22:08:22 GMT

@Lipstickdiva wrote:
@2blonde wrote:
@shellbeach I'm a pay-as-you-go kind of person. I've never bought an extended warranty on anything, and have never regretted it. Keep one thing in mind, if they weren't making money on these warranties, they wouldn't be chasing us around to buy them. My car is a 2014, and I still get those offers in the mail. It's direct mail......direct from the mailbox into the trash.
Yep. My care is a 2011 and I still get those calls. I can guarantee you they aren't going to pay for anything on an 8 year old car. They are just going to rip me off. LOL

@Lipstickdiva @shellbeach I had a 2011 Forester - it was totaled. And I stil get offers for warranties and trade ins !!