Extended warranty - Whats the deal?

[CodyFRS]

Originally Posted by topazsparrow

What???

That would have been covered under the basic manufacturer warranty.

Oh, yeah well. Got it anyways ;p. I don't know all that much about warranties to be honest, but I have the money. So why not..? I don't plan on doing anything extreme to my cars engine to void it.

[Jond63]

I figure after 3-5 years I will have mods that will most likely void the warranty anyway, so I skipped it. Plus it's been a long time since I've kept a car past 5 years, I seem to get bored before that, but hopefully not this time -- this car is the one! lol

[Tucson FR-S]

Originally Posted by topazsparrow

So here's where I'm at then:

The problem is, they keep telling me we can go over the extended warranty stuff when I come and sign the final papers. I just feel like if I pay the deposit they might try to rip me off with the extended warranty and other protection plan stuff because I won't be able to walk away without losing 1000 bucks.

They can't make you buy that stuff, so you need to gird your loins (as they say). The finance guy has you at the moment you're most attached to the car -- you just bought it -- and he's going to play on your fear and your pride. So when he insinuates that it's going to be stolen (so you should buy his overpriced alarm) remember that's highly unlikely. And when he tells you that most people would consider it throwing away money not to buy extended warranty or the extended maintenance plan, tell him you're OK throwing money away. (When I said that, he looked at me slackjawed. Conversation over.)

[ktulu7]

Originally Posted by topazsparrow

Mind sharing the math on that? I'm curious.



why in the world was a 2013 FR-S "kicking your rear" in repair costs?

I think you mis-read my post there... My car that I was trading in was frustrating me with repairs, so it affected my mood and I guess made me more prone to buy a warranty. Obviously my FR-S is brand new, so it's had no repairs yet. When I'm home, I can go back and look at the math, because I don't remember right now exactly what I paid anymore...

[DJCarbine]

I got the extended warranty only because the finance guy knocked my APR down and it ended up costing exactly the same as without the warranty.

[Ryuu0u]

I got the warranty because I was concerned about some of the issues some members have been dealing with. In regards to mods some of the toyota dealerships here have worked on supercharged Tundras and such so anything installed by the dealership is still under warranty their product or not. (well that's what i've been told) I can see having the dealership install something turn key like the greddy system or a vortec system. That's all in the future though so it's just baby steps for now.

[HunterGreene]

Another reason I got it is due to the Injector Seals failing on some of the more aggressively/tracked cars some of the owners have. If its failing now for them, I am scared to think when it will fail for us casual users.

[Zyo81]

I got the extended warranty because while I plan to pay the car off an about 3 years, should I encounter a financial setback and have to make minimum payments for 75 months, I would not want to be making payments on a car that needs repairs. I've had that happen before, and it really sucks.

[Dake]

The reality is, most things that will break on a car due to defect will do so within the first couple of years (first year really) and then they're all covered by the existing manufacturer warranty. If the car makes it through that period without any problems, the chances are very high that it will continue to do so.

Back in the day it was maybe worthwhile, but anymore it really is pure profit for the dealer.

[strat61caster]

I agree entirely with whaap and dake above.

If it breaks in the first two years or so it'll be under the standard warranty - no big deal.
If it survives the first two years then it has worked as intended and is unlikely to break.
If it breaks after that it's either a wear item that will have to be replaced at whatever interval anyway or a faulty design which will either be recalled or ignored, an "extended warranty" probably wouldn't cover those scenarios.

[thill]

Originally Posted by Dake

The reality is, most things that will break on a car due to defect will do so within the first couple of years (first year really) and then they're all covered by the existing manufacturer warranty. If the car makes it through that period without any problems, the chances are very high that it will continue to do so.

Back in the day it was maybe worthwhile, but anymore it really is pure profit for the dealer.

This has been my experience. Which is why I don't buy extended warranties and never been burned. Extended warranties typically do not cover normal wear and tear items anyway (which usually what costs you money). Brakes, tires, battery, clutch, paint, etc. If you have an issue with the power-train you have a 5year 60K warranty to rely on.

If cars were so unreliable that they started breaking down after 3-5 years or 36-60K miles there would be no such thing as extended warranties, because dealers and warranty providers would be losing their shirts. But hey, if you want the peace of mind, I get it. I would just rather keep the $800-1000 and have it ready to pay for routine repairs/maintenance.

[Freetime]

Worked out well for me with a previous car I bought for an ex. Hyundai Tiburon was at 60k miles and the radiator exploded. Literally. Shards of radiator everywhere.
Warped the hell out of the heads and it needed serious work. Extended warranty fixed all of it, which totaled up to much more than the cost of the warranty.
Then I sold the car and cancelled the warranty and got the prorated refund.

[laurenholmes]

When you buy a new car you will more than likely be offered the opportunity to purchase an extended warranty, which is intended to protect you over and above the manufacturer’s warranty.