Quote:
Originally Posted by Yardjass
Yup, this thread doesn't change my opinion on the matter at all. I'd still tell the OP congrats, they got lucky.
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The fuck I did. How is it lucky to have an oil pump come apart at 65,000 miles and take out an engine? Why do people keep saying I "won" or "got lucky" to lose an engine? You people have a seriously fucked up sense of what winning looks like.
Bang! Rat-at-at-at-at-at-at-at-at-at-at-at-at-at-at-at-at-at-at.
"Yay! I hit the jackpot!"
Quote:
Originally Posted by Dadhawk
On the flip side of that, I would never buy a car (or anything else for that matter) where I thought I needed to buy an extended warranty because it was going to have expensive (non-maintenance) repairs within the first half of it's useful life (in the case of a vehicle I consider half-life 100,000 miles).
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Neither would I. And I didn't. I expected the car to well outlive its original warranty.
Quote:
Originally Posted by Dadhawk
The consumer purchases the product because they believe they will need the product within the timeframe the insurance company has determined that statistically they will not need it.
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You keep saying you understand the purpose of insurance, but then you say something like this that demonstrates clearly that you don't. The purchaser does NOT generally think they'll need the insurance. A lot of people here have comprehensive coverage on their cars without being required to have it, but they don't think they're going to go out and wreck their cars. They buy it because they know there's a risk that something might happen, and they want to turn the uncertainty into a known cost that they can plan for and manage.
A better example is my field. I work in the title insurance business. When you buy a house, the settlement agent will search the courthouse records to make sure the seller has the right to sell it to you and there are no liens outstanding against the property. But what if they miss something? What if someone else pops up with a deed to your house? What if someone pops up and says they have a lien against your property from a prior owner's debt?
My company provides insurance against that. If it turns out the seller didn't have the right to sell the property, an owner's policy will pay your losses. If you take out a loan, the lender will require you to purchase a lender's policy to protect their collateral.
NOBODY buys a house thinking he's going to lose it. NOBODY. And no lender accepts a mortgage on a house thinking that the collateral will be lost. If someone told you he was buying his dream home, but he thought somebody would come take it from him next year, you'd think he was a fucking idiot for buying it in the first place. If a lender said, "Yeah, we'll give you this money, but we expect to lose it all next year," you'd wonder how that lender could possibly stay in business. The title insurance is there not because anybody expects it to happen or is betting it will, but because they would be in a seriously fucked up situation if it ever did.
So no, I didn't buy the warranty on my car because I expected to win big when my engine blew. I doubt anybody would. Someone who thinks he's lucky in my situation would be a fucking moron.