New Car Warranty

[MaryG]

I guess this is SORT of home related because I'll be parking it in the garage attached to my home, Lol. I want to buy a brand new car and was wondering if any of you that have purchased new cars have also purchased an Extended Warranty for the car. All new cars now come with a great 5-year warranty but I'm curious about the Extended Warranties that the dealership will be trying to sell me.

Did any of you buy the warranty? What should I look for in an extended warranty? What should I avoid?

Thanks for any and all input and advice.

[Rich]

I'd never buy a brand new car. As soon as you drive it off the forecourt it loses 20% of its value, let some other mug take the hit and buy one 6 months old.

Extended warranties are known in the trade as money for nothing, that to the salesman is the cream on the strawberrys, I wouldn't bother, nothing much seems to be covered anyway when you read the small print.

Just my opinion.

[donybee]

It's a matter of choice I guess. I have never got an extended warranty on anything. I think the salesman gets an extra commission to sell one.:lol::lol:I always say if the product's any good and the warranty they give you isn't any good then why buy it. Most car warranties are good for extended periods now anyway. For instance mine was good for bumper to bumper for 36 thou miles or 36 Mo. But the total warrant covers the drive train for 5 more years. I bought a new Phone for 89.00 and they wanted 29.95 for an extended warranty. For that kind of money I'll throw it away and buy another one, but a different brand if the warranty's run out.:lol::lol::lol:Never bought one for my tv and it's 11 years old and still going strong. I guess it's how safe you feel without one.:lol::lol::lol:

[Rich]

I bought one for the TV and if you don't claim in 3 years you get your money back.

We applied after 3 years and found the company had gone bust.

[ravenhawk]

I wouldnt spend the money on the extended warranty. Most of the time you will find that they arent even through the dealer they are a 3rd party company. There is lots of small print and are usually a big hassle to deal with if you need to. I personally have never had one, never bought a brand new car, but I have several friends who have and not one of them has ever been happy with it

[PRH]

Extended warrenty is like throwing your money away!! ( thats for just about anything ) Sure,they make it sound good and all so that you will dish out the extra money,but in the long run,you still end up paying or replacing the item you took out a warrenty on!
Its just my thoughts,but to each their own on buying one!
Good Luck!:grin:

[Garden Bear]

if the want you to buy the Extended warrenty ask whats wrong with the car or the warrenty that comes with it that should shut them up you don't need the dang thing any how its a waste of your money if the car falls apart after 5 yrs get rid of it most new cars only last so long any how :lol:then they start to cost I buy used or left overs and save

~~~~~~~~~~~~~~~~~~~~~~
Garden Bear

[CMStubbe320]

Well, I guess I have a different take on the extended warranty deal. The last brand new car I got only had the 36 month/36000 mile warranty. I went for the extended warranty because I was putting 15000 miles a year on the car. I used it twice: once for a new transmission and once for replacing the radiator. More than got my money back. After I totaled that car (yes 2 months before I was to pay it off!) I got a used car. I purchased the extended warranty from the dealer, but then got to shopping on line and found a better extended warranty for less money. I took that paperwork to the dealer and he beat their price. On this go-around I haven't had to use it. Now I'm scared to death something major is going to go wrong and instead of a $50 deductible I'll be stuck with the entire repair bill.

[DandyLioness]

I'm with everyone here that claims it's like throwing your money away.

[MaryG]

Well thank you so much for all your input people, I have taken all your comments seriously. It seems that most of the people I've talked to have said to forget the extended warranty or if I do decide to get it to find out just what is covered and to read the fine print very carefully. I know that I would have to ask if the X warrenty is backed by the dealership itself or is from a private company. I would also have to ask how the electronics are covered and if it also covers "wear and tear" and not just breakage.

Yes, I do know that when you drive a brand new car off the lot it immediately loses a lot of it's value but I plan on keeping this car for a good long time. I have always for my entire life bought used cars but this is the time for me to splash out and treat myself to a new car for the first time.

I'll let you know what I finally buy and maybe even post a pic.

[donybee]

[quote=Garden Bear;133176] most new cars only last so long any how

I don't think so.:lol::lol::lol:Most new cars today with normal car will outlast any old beater from a few years back. It is no big shakes to see late model cars with over 100,000 mile + and still look new. They finally got the rust problem under control. Almost all are primed with a Zinc type undercoat which resists rust. I have a 97 Olds that doesn't have a rust spot on it and it's never garage. With the snow and ice and salt they throw on the roads here, that's almost a miracle. BTW it is pushing 90,000 thou now.:lol::lol::lol::lol::lol:

[Paula Roberts]

My daughter is driving my 1997 honda that i purchased in 1999 with an extended warranty as i was at the time driving 150 miles per day and would fast outdrive the orriginal warranty. It was a 2 yr lease buy back that i got for a very good price and the car is still running with almost 200,000 miles on it. Of course, my dau does NOT take good care of the inside and it is GROSS, but hey, it purrs like a kitten and always starts. I used the extended warranty 2 times. Before I purchased it, i first checked in to who would service it. To me, that makes all the difference in the world. I bought my van when it was 2 years old and also got the extended warranty. I have not had to use it and my car has 120,000 miles on it. I just count my self lucky as I am sure had i not purchased the warranty, it would have broke down by now. I guess i look at it like murphys law insurance. if i buy it i wont need it, but if i dont, i'll never hear the end of it from husband. :( Now that all my kids have their own vehicles, and i am not lugging around 7 people at a time, i am again looking for a newer used smaller vehicle and will most likely purchase the extended warranty. My dau that just graduated high school has a summer job selling extended warranty's, I'll have to ask her the inside scoop. :ph34r::ph34r:

[MaryG]

I just posted a thread about my new car which I purchased on Tuesday.

You know what? After all the advise-asking and thinking I decided on reflection to get the extended warranty for a couple of reasons:

1. It's a brand new car, I know very little about cars and now I won't really have to worry about anything for 6 years.

2. Honda has a policy that if you DON'T have to make any big claims on the extended warranty and the time limit is up they will refund you most of the money you spent on the extended warranty. Not all of it of course but enough to make me decide to purchase it.

[Wingdesigner]

Sounds good to me--especially if it's a new model, probably haven't gotten all the kinks out yet. However, Consumer Reports magazine usually says to forgo one for almost any product, including cars; but they also have caveats. Go to library and check out the issue for new cars, (I know the horse is already out of the barn, but) it may make you feel more comfortable after you read what they have to say for your particular model. Congrats on the new wheels.

[MaryG]

I appreciate the advice and the congrats but it really isn't a new model. It's been sold in North America for at least 5 years and in Japan (where it's made) for more years. That being said, I probably wouldn't bother to buy an extended warranty for anything else. I've purchased a lot of new appliances over the years and never got the E.W. on them. I find that things usually work for many years, trouble-free for me.

You want to hear something strange? I have friends who ALWAYS buy the E.W. on new appliances and those same appliances ALWAYS end up giving them tons of trouble, service calls or even breaking down completely. Why would it be that I, who don't buy the E.W., never end up needing them and they, who always buy the E.W., always end up needing them? Karma?

[Audwoman]

I never buy extended warranty on anything and never had problems. But I research the heck out of things before I put my money down. I try to buy the best so I do not have to buy it again and I want it on sale cheap. :lol:

I had never brought a new car because of the reason Rich has stated. But last year I decided I would buy a new car. But I brought it at the end of the year and the new ones were coming in so it was a better price than a used car.

Mary, I think that because we do not buy the EW the appliance knows it better not breakdown. :lol: