Extended warranty dilemna

[Stang70Fastback]

Originally Posted by Tcoat

Normally not a huge fan of extended warranties since they tend to exclude just about anything that will actually break.
But, for $13 a month (about 50% of what I spend a week on coffee) it may very well be worth it.

Yeah, I did a bit of Googling (though not much) and it sounded mostly promising. I've never had an issue with GEICO in the past (and I know lots of people have) so I'm just going to remain optimistic and see what happens if I ever need to use it. In my experience, disagreements with companies can typically be resolved by saying, "Let me speak to your supervisor," enough times until you're talking to someone who can actually do something, lol.

From GEICO's site:

Why not just get an extended warranty, you wonder? You could—if you want to pay more for less protection. GEICO's MBI provides better coverage at a cheaper price than the typical dealer extended warranty. GEICO's MBI coverage:

- Includes all parts and systems not just the specific list of items covered by most dealer warranties.
- Saves you money, charging only a small premium per each policy period, instead of a large lump-sum payment up front.
- Lets you get your car repaired wherever you like.

*MBI Exclusions

Exclusions to this policy include regular maintenance services such as tune-ups, suspension alignment, wheel balancing, filters, lubrication, coolant and fluids, spark plugs, brake pads and linings, brake shoes, and tires. Also, breakdown repairs made necessary by intentional damage, corrosion, misuse, or improper maintenance are not covered. Mechanical Breakdown Insurance coverage is in excess of coverage provided by your manufacturer's warranty. Read the policy amendment for the complete terms and conditions of this coverage.

https://www.geico.com/auto-insurance...own-insurance/

[unplugged]

I don't like dealing with extended warranties because as long as you take care of the vehicle, the likelihood of something breaking that IS covered is very slim. The things that WILL break are not covered (wear items). I rather take the $1k - $2k and put it in the bank to cover these costs.

I never had an extended warranty on a vehicle that actually paid for itself. In fact, in most cases, nothing ended up going wrong that would be covered so it was a complete waste.

We aren't buying cars from the 1970's and 80's.

Personally, keep the extra money - earn interest, and use it for repairs as needed. You'll thank yourself, and me, later.