extended warranties on cars?

[biffbacon]

im looking to buy an extended warranty on my car. the factory does not offer one, so im starting to look into third party companies. does anyone have experience with this? can anyone recommend a good company?

im in indianapolis, not sure if that matters, and the car is a mercedes

 

I declined the extended warrenty on my new subaru.
From what I read on subaru forums it's not worth the money.

Though, each agreement is different.

 

[Red]

A decent aftermarket warranty will cost around $1000... (like mine). I talked to a transmission shop owner in my area who has experience with at least 100 warranties, so he said. He said he has had some people come in with warranties they bought off the internet for $4.95 and expect their transmission to be replaced when it fails. He just laughed about that. On the other hand, he said he has dealt with many reputable companies that charge between $900-$1500 for a 3 year warranty and he has had good results.

My warranty is through Penn Warranty co. (www.pennwarranty.com) ... the transmission shop owner said that if he had to rate penn warranty on a scale of 1 - 10, 1 meaning they never pay anything and 10 meaning they answer the phone with "Where do we send the check?" ... he would rate Penn Warranty a 7.

 

[biffbacon]

Originally posted by: SampSon
I declined the extended warrenty on my new subaru.
From what I read on subaru forums it's not worth the money.

Though, each agreement is different.

my factory warranty is about to run out, and i had a bad experience with my last car when the warranty ran out, so i really want one this time

 

Originally posted by: biffbacon

Originally posted by: SampSon
I declined the extended warrenty on my new subaru.
From what I read on subaru forums it's not worth the money.

Though, each agreement is different.

my factory warranty is about to run out, and i had a bad experience with my last car when the warranty ran out, so i really want one this time

I hear ya there. I'm getting close to my warranty running up, and I've only had the car 8 months.

I'm going to look into some extended warranties. I figure I'll keep an eye on this thread.

 

[Vette73]

MOST cars/trrucks if taken care of do not need any extra warrenty. And even then most warrenties have loop holes in them, or they juts don't pay, that if you don't have every reciept or they say you did something that caused the problme then it will not be covered.

 

[Vic]

Better to just put the grand in the bank.

 

[biffbacon]

Originally posted by: Vic
Better to just put the grand in the bank.

yeah, thats what i thought until the engine on my old BMW blew a month after the warranty ran out, and it cost me 8 grand to get a new one and have it put in

 

[Sundog]

Originally posted by: Vic
Better to just put the grand in the bank.

With a Mercedes I would tend to agree with you. But it really comes down to the track record of the car along with the manuf.

We bought a new american made vehicle in 2000 that has been babied. Currently has 65K on it and the extended warranty (Costing $1600) has paid for itself over 3 times already.

 

[Vic]

Originally posted by: Sundog

Originally posted by: Vic
Better to just put the grand in the bank.

With a Mercedes I would tend to agree with you. But it really comes down to the track record of the car along with the manuf.

We bought a new american made vehicle in 2000 that has been babied. Currently has 65K on it and the extended warranty (Costing $1600) has paid for itself over 3 times already.

Before 65k you've had almost $5k in repairs??? With my cars, I might be thinking about getting the brake pads replaced for the first time at 65k. You need to start buying Japanese...

 

Originally posted by: Sundog

Originally posted by: Vic
Better to just put the grand in the bank.

With a Mercedes I would tend to agree with you. But it really comes down to the track record of the car along with the manuf.

We bought a new american made vehicle in 2000 that has been babied. Currently has 65K on it and the extended warranty (Costing $1600) has paid for itself over 3 times already.

American cars obviously blow.

 

[Vette73]

Originally posted by: Vic

Originally posted by: Sundog

Originally posted by: Vic
Better to just put the grand in the bank.

With a Mercedes I would tend to agree with you. But it really comes down to the track record of the car along with the manuf.

We bought a new american made vehicle in 2000 that has been babied. Currently has 65K on it and the extended warranty (Costing $1600) has paid for itself over 3 times already.

Before 65k you've had almost $5k in repairs??? With my cars, I might be thinking about getting the brake pads replaced for the first time at 65k. You need to start buying Japanese...

Yea because Jap cars NEVER break

:roll:

 

[Sundog]

Originally posted by: Vic

Originally posted by: Sundog

Originally posted by: Vic
Better to just put the grand in the bank.

With a Mercedes I would tend to agree with you. But it really comes down to the track record of the car along with the manuf.

We bought a new american made vehicle in 2000 that has been babied. Currently has 65K on it and the extended warranty (Costing $1600) has paid for itself over 3 times already.

Before 65k you've had almost $5k in repairs??? With my cars, I might be thinking about getting the brake pads replaced for the first time at 65k. You need to start buying Japanese...

Yep...$1800 at 42K, $3000 at 51K and $1300 at 62K.

As far as Japanese cars....I would have if I could have. Remember in 2000 the Japanese cars did not have any low interest financing. And having a litt;e one we needed one immediately.

Oh...BTW, the Japanese Civic that we purchased new later on needs to go into the dealer for it's second recall and it is making some strange rattling sounds. It is only at 22K.

 

Originally posted by: Marlin1975

Originally posted by: Vic

Originally posted by: Sundog

Originally posted by: Vic
Better to just put the grand in the bank.

With a Mercedes I would tend to agree with you. But it really comes down to the track record of the car along with the manuf.

We bought a new american made vehicle in 2000 that has been babied. Currently has 65K on it and the extended warranty (Costing $1600) has paid for itself over 3 times already.

Before 65k you've had almost $5k in repairs??? With my cars, I might be thinking about getting the brake pads replaced for the first time at 65k. You need to start buying Japanese...

Yea because Jap cars NEVER break

:roll:

Of course they do, but 5K in repairs before 65K miles? Gimmie a break, that's totally unacceptable.

I had a 1992 Mitsubishi expo with 250K miles on it, I drove that thing for 3+ years solid and put a total of less than $1000 into repairing it.

 

[Kremlar]

Of course, you could luck out - it's a gamble.

But, on average extended warranties are not worth it.

If companies LOST money on these things, they wouldn't SELL them!

It's common sense...

 

[Vic]

Originally posted by: Marlin1975

Originally posted by: Vic

Originally posted by: Sundog

Originally posted by: Vic
Better to just put the grand in the bank.

With a Mercedes I would tend to agree with you. But it really comes down to the track record of the car along with the manuf.

We bought a new american made vehicle in 2000 that has been babied. Currently has 65K on it and the extended warranty (Costing $1600) has paid for itself over 3 times already.

Before 65k you've had almost $5k in repairs??? With my cars, I might be thinking about getting the brake pads replaced for the first time at 65k. You need to start buying Japanese...

Yea because Jap cars NEVER break

:roll:

My 98 Acura Integra GSR (bought new in Feb 98) required absolutely no unscheduled maintenence in 5 years and 80k miles.
My car before that, a 92 Plymouth Laser RS Turbo AWD (Mitsu Eclipse GSX clone), the only unscheduled maintenence was a new turbo at ~95k miles. I bought the car used in '95 with 33k miles and traded it in in '98 with ~120k miles. I will admit that it was near the end of its life when I traded it in, but hey, it was a Mitsubishi, what more could you expect.
I drove my car before that, a '91 Honda CRX Si, for a little over 100k miles, with NO unscheduled maintenence.

I don't drive like a grandma either. Far, far from it.