Quote:
Originally Posted by nos145
i got the extended warranty.
single issue and you get your moneys back.
i can sleep better at night
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not expressly true, has the potential to get your money back, but market research has pinned down that extended warranties typically don't pay out to the solid majority of the people who purchase them. That is to say their net intial outlay by purchasing the warranty did not equal the sum of repairs covered by the extended period.
I'll quote a Consumer Reports article that details it: "...Surveyed 8,000 owners of five- and six-year-old vehicles that had been covered by extended service plans. Sixty-five percent of those surveyed said they spent significantly more for the contract than they got back in repair-cost savings. Respondents said their extended warranty cost them $1,000 on average while providing an average benefit of $700. That means the average loss was $300. A big reason: 42 percent of extended warranties in our survey were never used, in most cases because the vehicle didn't need repairs or the standard manufacturer's warranty sufficed."
Now you do hit on one vital thing here, though. Peace of mind. That is a subjective value.. one that the OP needs to determine for himself whether or not it is worth the premium up front. Both paths are valid, at the end of the day it comes down to whether the move puts one's mind at ease most.