Why do people buy the extended warranty?
07-08-2003 | 12:15 PM
#1
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From: orlando
Why do people buy the extended warranty?
I haven't heard many people talking lately about it, but i remember a few months ago a lot of people were saying that buying the extended warranty was a good deal if you plan on keeping your car. I was just looking at the acura site and i saw this,
American Honda is announcing a warranty extension for the automatic transmission on all 2000-02 3.2TLs, all 2001-02 3.2CLs, and some 2003 3.2TLs and 3.2CLs. The automatic transmission and torque converter are now covered for a total of 7 years or 100,000 miles, whichever occurs first, from the date of original sale. We are providing this warranty extension because a higher than normal number of automatic transmissions in certain vehicles may have problems due to defects in material or workmanship beyond the 4-year, 50,000-mile new vehicle limited warranty.
and it said this was started over a year ago?
American Honda is announcing a warranty extension for the automatic transmission on all 2000-02 3.2TLs, all 2001-02 3.2CLs, and some 2003 3.2TLs and 3.2CLs. The automatic transmission and torque converter are now covered for a total of 7 years or 100,000 miles, whichever occurs first, from the date of original sale. We are providing this warranty extension because a higher than normal number of automatic transmissions in certain vehicles may have problems due to defects in material or workmanship beyond the 4-year, 50,000-mile new vehicle limited warranty.
and it said this was started over a year ago?
07-08-2003 | 12:34 PM
#4
Administrator Alumnus
I HAD one when I still owned my CL. I bought it mostly for the tranny (although Acura's extended warranty that came out after covered me), but stuff can break other than the tranny.
I 'cashed' in the extended warranty since I don't have my CL any longer. I've been waiting 5 patient weeks for the prorated refund. I guess Acura like to take their time when cutting a check.
I 'cashed' in the extended warranty since I don't have my CL any longer. I've been waiting 5 patient weeks for the prorated refund. I guess Acura like to take their time when cutting a check.
07-08-2003 | 01:14 PM
#7
pure profit makers for the dealer.
if honda didnt extend the warranty it would make more sense to get an extended warranty
a bunch of things can go wrong, but its unlikely it'll reach the price of those warranties
if honda didnt extend the warranty it would make more sense to get an extended warranty
a bunch of things can go wrong, but its unlikely it'll reach the price of those warranties
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07-08-2003 | 01:38 PM
#8
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From: Houston, TX
My dealer offered a money back garantee if you don't use the warranty. I have it in writing, so if the car gets sold, or hits80K without any problems I get it back in full.
07-08-2003 | 01:41 PM
#9
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From: Hellertown, Pa. USA
Originally posted by hellas
pure profit makers for the dealer.....................a bunch of things can go wrong, but its unlikely it'll reach the price of those warranties
pure profit makers for the dealer.....................a bunch of things can go wrong, but its unlikely it'll reach the price of those warranties
I can get an official “Acura Care” warranty for around a grand that will protect me for 7-years 100,000-miles.
One major repair on this car could EASILY be 1000-bucks.
Shawn S
07-08-2003 | 02:06 PM
#10
Administrator Alumnus
Originally posted by paulff3
Refund - cashed in???? Please explain.
Refund - cashed in???? Please explain.
I paid somewhere around $975 for my 7yr/75K extended warranty. I hadit for just under 16 months and will be getting back $823.
07-08-2003 | 02:24 PM
#11
Senior Moderator
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Originally posted by hellas
pure profit makers for the dealer.
if honda didnt extend the warranty it would make more sense to get an extended warranty
a bunch of things can go wrong, but its unlikely it'll reach the price of those warranties
pure profit makers for the dealer.
if honda didnt extend the warranty it would make more sense to get an extended warranty
a bunch of things can go wrong, but its unlikely it'll reach the price of those warranties
Example, on my '98 CL I bought the 5yr/60k extension which was around $750. At 54k miles my sunroof went. Turns out that a wire behind the dash was worn through b/c of the way it was sitting back there and being rubbed against. The switch also blew. Around the same time the fuel light came on and stayed on. That was a faulty switch. Parts were about $375 and labor was about $550 total... totalling $925 which was about $200 more then I paid for the warranty... and those problems I had were minor... however, they were labor intensive b/c of what needed to be disassembled in order to repair them.
If you're going to keep your car for a while.. the odds are that little things will go wrong as you add miles. One little problem can end up costing over $500 easy (between parts and labor).. and the odds are that you WILL have more then one problem over 100k miles on any car.
07-08-2003 | 03:11 PM
#12
Masshole
Originally posted by Scrib
I 'cashed' in the extended warranty since I don't have my CL any longer. I've been waiting 5 patient weeks for the prorated refund. I guess Acura like to take their time when cutting a check.
I 'cashed' in the extended warranty since I don't have my CL any longer. I've been waiting 5 patient weeks for the prorated refund. I guess Acura like to take their time when cutting a check.
07-08-2003 | 04:24 PM
#13
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Warranties are a form of insurance.
If you take a look at the total cost paid in extended warranty premiums and the total cash paid out for warranty claims, you could bet your money that they are making a profit.
But on an individual level, even though you may be paying too much for the protection, if you put some value on the peace of mind you gain from not having to fork out big bux after the warranty is over may be worth it.
But the same is true of the insurance industry. We over pay premiums in exchange for peace of mind.
If you take a look at the total cost paid in extended warranty premiums and the total cash paid out for warranty claims, you could bet your money that they are making a profit.
But on an individual level, even though you may be paying too much for the protection, if you put some value on the peace of mind you gain from not having to fork out big bux after the warranty is over may be worth it.
But the same is true of the insurance industry. We over pay premiums in exchange for peace of mind.
07-08-2003 | 04:26 PM
#14
Administrator Alumnus
Originally posted by Bulldog01
My check came about two weeks after I finally got around to faxing everything in...you may want to call to check on the status of your refund.
My check came about two weeks after I finally got around to faxing everything in...you may want to call to check on the status of your refund.
07-08-2003 | 04:45 PM
#17
Unregistered Member
My take on extended warranties:
Never get them for ANYTHING!
Why? Simple.... the cost of extended warranties on everything you buy can be considerable. Think about it-- they offer extended warranties on everything from your car to a $100 camera. With all the money you save by NOT buying the extended warranties, if something should fail, you can easily pay for it yourself and still be way ahead of the game.
Now that I think about it, I've NEVER had to pay any kind of real money (out of pocket) to fix anything of mine. Most shit doesn't break down these days.....
BTW, insurance deductibles are the same deal.... keep them as high as possible (even $1000 or more). Witht the $$$$ you save in premiums, you can easily afford to take a $1000 hit if you need to file a claim.
Never get them for ANYTHING!
Why? Simple.... the cost of extended warranties on everything you buy can be considerable. Think about it-- they offer extended warranties on everything from your car to a $100 camera. With all the money you save by NOT buying the extended warranties, if something should fail, you can easily pay for it yourself and still be way ahead of the game.
Now that I think about it, I've NEVER had to pay any kind of real money (out of pocket) to fix anything of mine. Most shit doesn't break down these days.....
BTW, insurance deductibles are the same deal.... keep them as high as possible (even $1000 or more). Witht the $$$$ you save in premiums, you can easily afford to take a $1000 hit if you need to file a claim.
07-08-2003 | 07:25 PM
#18
Happy CL-S Pilot
Just to let you know, the invoice replcaing my driver's seat motor and left arm rest is $373 (paid by Acura)
Yep, $373!!
cost of part is around $170 and $200 for labor... 
Yep, $373!!
cost of part is around $170 and $200 for labor...
07-08-2003 | 08:27 PM
#19
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From: Overland Park, Kansas
Originally posted by hemants
Warranties are a form of insurance.
If you take a look at the total cost paid in extended warranty premiums and the total cash paid out for warranty claims, you could bet your money that they are making a profit.
But on an individual level, even though you may be paying too much for the protection, if you put some value on the peace of mind you gain from not having to fork out big bux after the warranty is over may be worth it.
But the same is true of the insurance industry. We over pay premiums in exchange for peace of mind.
Warranties are a form of insurance.
If you take a look at the total cost paid in extended warranty premiums and the total cash paid out for warranty claims, you could bet your money that they are making a profit.
But on an individual level, even though you may be paying too much for the protection, if you put some value on the peace of mind you gain from not having to fork out big bux after the warranty is over may be worth it.
But the same is true of the insurance industry. We over pay premiums in exchange for peace of mind.
07-08-2003 | 09:29 PM
#20
Unregistered Member
Originally posted by kensteele
Exactly you got it. Extended warranty is all about risk and piece of mind (for the most part). It's NOT about who's making money or making your money back or paying in more than paying out or getting your money back or transferring it to the next owner...those are secondary to RISK. It's too bad that most consumers break out a calculator when it comes to an extended warranty and forget the real benefits.
Exactly you got it. Extended warranty is all about risk and piece of mind (for the most part). It's NOT about who's making money or making your money back or paying in more than paying out or getting your money back or transferring it to the next owner...those are secondary to RISK. It's too bad that most consumers break out a calculator when it comes to an extended warranty and forget the real benefits.
In other words, your risk IS money.
If I were able to add up all the money I've saved by not buying extended warranties (in my lifetime), I wouldn't blink an eye having to shell out $5000 for say, a new engine or tranny or something.....
It is exactly all about dollars and cents.
07-08-2003 | 10:10 PM
#21
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Nonsense Tom. 
My point was "that's the way it should be"; just my advice to another person on the best way to determine if you should take out an extended warranty. But of course I am aware that people like you just pull out the calculator, do some number crunching, and then say "I'll take it". Others open their checkbook and if they have the money, they buy it. If they don't, they don't buy it.
Everything on the planet is related to money. Including risk. I was referring to the "purchase decision". If you are risk adverse, you take out more insurance. Or if they are like you, they forgo it all together. That's why auto insurance is mandatory. Has nothing to do with your personal finances. Has more to do with people like you saying "I'll take my chances". But of course in the long run, it's all about money for insurance companies, money for the state for enforcing it, more or less money for hospitals, money for lawyers. Money, money, money, more money.
You just want to argue....I'm not going to get into it with you. Does anyone else find it ludicrous that Tom says he doesn't mind paying $5,000 for a blown engine cause he's made some wise financial decisions in the past? I passed up that $3,500,000 sale on a 12-seater learjet last month. Add up all the money I've "saved"....let's see.
If I can save $100s of dollars by simply saying NO to everyone who's ever tried to sell me something....I'd be rich.
Late.
My point was "that's the way it should be"; just my advice to another person on the best way to determine if you should take out an extended warranty. But of course I am aware that people like you just pull out the calculator, do some number crunching, and then say "I'll take it". Others open their checkbook and if they have the money, they buy it. If they don't, they don't buy it.
Everything on the planet is related to money. Including risk. I was referring to the "purchase decision". If you are risk adverse, you take out more insurance. Or if they are like you, they forgo it all together. That's why auto insurance is mandatory. Has nothing to do with your personal finances. Has more to do with people like you saying "I'll take my chances". But of course in the long run, it's all about money for insurance companies, money for the state for enforcing it, more or less money for hospitals, money for lawyers. Money, money, money, more money.
You just want to argue....I'm not going to get into it with you. Does anyone else find it ludicrous that Tom says he doesn't mind paying $5,000 for a blown engine cause he's made some wise financial decisions in the past? I passed up that $3,500,000 sale on a 12-seater learjet last month. Add up all the money I've "saved"....let's see.
If I can save $100s of dollars by simply saying NO to everyone who's ever tried to sell me something....I'd be rich.
Late.
07-08-2003 | 11:03 PM
#22
Moderator Alumnus
Tom if I took your advice I'd be out 3-4k on my last vehcile.
My 96 Jeep grand cherokee.
transmission
transfer case
A/C fixed 3 times (more than a year apart each time)
window motors/tracks
Warranty was only $700.
My 96 Jeep grand cherokee.
transmission
transfer case
A/C fixed 3 times (more than a year apart each time)
window motors/tracks
Warranty was only $700.
07-08-2003 | 11:08 PM
#23
Moderator Alumnus
and so far on my CLS
Window motors
Transmission 3 times
blower motor
moon roof (leaked water)
window auto down solenoid
drivers door arm (plastic started to disform, very odd)
2nd stage intake actuator
Not counting all of the other BS I have brought it in for...
Window motors
Transmission 3 times
blower motor
moon roof (leaked water)
window auto down solenoid
drivers door arm (plastic started to disform, very odd)
2nd stage intake actuator
Not counting all of the other BS I have brought it in for...
07-09-2003 | 07:14 AM
#25
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From: Hellertown, Pa. USA
Originally posted by Tom2
If I were able to add up all the money I've saved by not buying extended warranties (in my lifetime), I wouldn't blink an eye having to shell out $5000 for say, a new engine or tranny or something.....
If I were able to add up all the money I've saved by not buying extended warranties (in my lifetime), I wouldn't blink an eye having to shell out $5000 for say, a new engine or tranny or something.....
I DON’T buy them on electronics & small home appliances, but do believe they are worthwhile for cars if the price is right.
I also have one on the furnace & central A/C system on my home.
When we bought my wife’s RAV4 I was going to wait and buy the service contract LATER before the factory warranty ran out.
If we bought at the time of delivery they offered to knock another 1/2 percent off the interest rate and also threw in free scheduled services for 3-Yrs 30,000 miles.
So the 750 dollars we spent for the 7YR/70,000 mile plan was well worth it.
Plus it’s fully transferable and 100% refundable if I don’t use it.
We went through the numbers and the interest savings alone on the 4Yr loan pay for more then HALF of the plan.
Throw in six or seven FREE oil changes and sign me up.
Shawn S
07-09-2003 | 09:16 AM
#26
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Only a dealer's extended warranty option is available after Acura's warranty right? So does that mean who ever you buy it from will be the dealer u bring your car to for the duration of the warranty? And do they cover EVERYTHING like thE the orginal Acura warranty?
07-09-2003 | 09:22 AM
#27
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Only a dealer's extended warranty option is available after Acura's warranty right? So does that mean who ever you buy it from will be the dealer u bring your car to for the duration of the warranty? And do they cover EVERYTHING like thE the orginal Acura warranty?
07-09-2003 | 11:07 AM
#28
Unregistered Member
Originally posted by kensteele
Everything on the planet is related to money. Including risk. I was referring to the "purchase decision". If you are risk adverse, you take out more insurance. Or if they are like you, they forgo it all together. That's why auto insurance is mandatory.
No, that's not why auto insurance in mandatory. You are comparing apples and oranges, once again. If auto insurance were 100% optional, then you or I could lose EVERYTHING with just one accident..... think about it. We make a bad decision and end up killing someone in an auto accident. We could lose everything we have.
Now extended warranties, on the other hand, protect against a MUCH lesser risk-- the risk of having to pay out of pocket for a repair. When is the last time someone "lost everything" because he/she didn't have an extended warranty?
Has nothing to do with your personal finances. Has more to do with people like you saying "I'll take my chances".
Wrong again. I can easily afford to shell out the cash for any extended warranty. I choose not to do that though.... why? Simple- the money I save by NOT buying the extended warranty (on every item I purchase) will MORE than cover the out-of-pocket costs I might face if something does happen to break.
People with money always seem to understand that like taxes, your insurance is a major expense in your lifetime. That's why it is much better to be "self-insured" (within reason... I'm not talking about shit that can make you end up bankrupt). People without much money always seem to overpay for different forms of insurance, which is funny, because they have the least to lose.
You just want to argue....I'm not going to get into it with you. Does anyone else find it ludicrous that Tom says he doesn't mind paying $5,000 for a blown engine cause he's made some wise financial decisions in the past? I passed up that $3,500,000 sale on a 12-seater learjet last month. Add up all the money I've "saved"....let's see.
Simple math bud.....not ludicrous at all. Do the math:
If John Doe declined the extended warranties on everything he ever purchased in the last 15 years, from his cars all the way down to the smallest item, how much do you think he "saved"? Oh, you don't think he's saving money? Of course he is.... by not spending it in the first place, he's absolutely saving it. So lets say he saves himself $10,000 over that 15 years.
Now, all of a sudden, Mr. Doe's car blows a tranny, right after his basic warranty is expired on his 4 year old car.....damn, it's gonna cost him $5000 to get it repaired. Well, considering that he's already $10,000 ahead of the game, he can pay for the repair out of his pocket and still be $5000 ahead of the game.
Is this too hard for you to understand? This is the position I am in now. I am so far ahead of the game that I wouldn't blink an eye if I had to shell out some cash for a major repair on anything.
BTW, I feel exactly the same way about my auto insurance. I've had a $1000 deductible (I would go higher, but the law of diminishing returns kicks in on me) for over 10 years now. The lower premiums that I have been paying (because of my high deductible) for the last ten years have saved me about $5000, compared with a "standard" deductible. Now, if I had an accident tomorrow and had to pay the $1000 deductible, I wouldn't think twice about it... I'm already more than $5000 ahead of the game.
Why is it so hard for you to understand this simply concept? You should read a few financial help books......
If I can save $100s of dollars by simply saying NO to everyone who's ever tried to sell me something....I'd be rich.
Late.
Everything on the planet is related to money. Including risk. I was referring to the "purchase decision". If you are risk adverse, you take out more insurance. Or if they are like you, they forgo it all together. That's why auto insurance is mandatory.
No, that's not why auto insurance in mandatory. You are comparing apples and oranges, once again. If auto insurance were 100% optional, then you or I could lose EVERYTHING with just one accident..... think about it. We make a bad decision and end up killing someone in an auto accident. We could lose everything we have.
Now extended warranties, on the other hand, protect against a MUCH lesser risk-- the risk of having to pay out of pocket for a repair. When is the last time someone "lost everything" because he/she didn't have an extended warranty?
Has nothing to do with your personal finances. Has more to do with people like you saying "I'll take my chances".
Wrong again. I can easily afford to shell out the cash for any extended warranty. I choose not to do that though.... why? Simple- the money I save by NOT buying the extended warranty (on every item I purchase) will MORE than cover the out-of-pocket costs I might face if something does happen to break.
People with money always seem to understand that like taxes, your insurance is a major expense in your lifetime. That's why it is much better to be "self-insured" (within reason... I'm not talking about shit that can make you end up bankrupt). People without much money always seem to overpay for different forms of insurance, which is funny, because they have the least to lose.
You just want to argue....I'm not going to get into it with you. Does anyone else find it ludicrous that Tom says he doesn't mind paying $5,000 for a blown engine cause he's made some wise financial decisions in the past? I passed up that $3,500,000 sale on a 12-seater learjet last month. Add up all the money I've "saved"....let's see.
Simple math bud.....not ludicrous at all. Do the math:
If John Doe declined the extended warranties on everything he ever purchased in the last 15 years, from his cars all the way down to the smallest item, how much do you think he "saved"? Oh, you don't think he's saving money? Of course he is.... by not spending it in the first place, he's absolutely saving it. So lets say he saves himself $10,000 over that 15 years.
Now, all of a sudden, Mr. Doe's car blows a tranny, right after his basic warranty is expired on his 4 year old car.....damn, it's gonna cost him $5000 to get it repaired. Well, considering that he's already $10,000 ahead of the game, he can pay for the repair out of his pocket and still be $5000 ahead of the game.
Is this too hard for you to understand? This is the position I am in now. I am so far ahead of the game that I wouldn't blink an eye if I had to shell out some cash for a major repair on anything.
BTW, I feel exactly the same way about my auto insurance. I've had a $1000 deductible (I would go higher, but the law of diminishing returns kicks in on me) for over 10 years now. The lower premiums that I have been paying (because of my high deductible) for the last ten years have saved me about $5000, compared with a "standard" deductible. Now, if I had an accident tomorrow and had to pay the $1000 deductible, I wouldn't think twice about it... I'm already more than $5000 ahead of the game.
Why is it so hard for you to understand this simply concept? You should read a few financial help books......
If I can save $100s of dollars by simply saying NO to everyone who's ever tried to sell me something....I'd be rich.
Late.
07-09-2003 | 11:17 AM
#29
Unregistered Member
Originally posted by 2Sxy4YoMama
Hey Tom...do you have health, dental, home owners insurance or any other kind of insurance?
Hey Tom...do you have health, dental, home owners insurance or any other kind of insurance?
My home owners insurance is paid for by me. What are you getting at here?
When I say that it makes sense to be self-insured, that means for stuff that you can afford to be self-insured. If you can afford to self-insure your house, then go right ahead. I wouldn't blame you in the least. Most people cannot handle losing the amount of $$$$ associated with an assett as expensive as a house.
About self-insurance:
What do you think the deductible for your auto insurance is? I'll tell you-- it's the amount that YOU are willing to self-insure yourself for..... In other words, you're telling your insurance company that if something should happen, and you need to file a claim, you'll pay the first XXX amount of dollars. So obviously, the insurace company charges you a smaller premium BECAUSE YOU ARE SELF-INSURING YOURSELF THE FIRST XXX AMOUNT OF DOLLARS. The insurance company will have less money to pay out on a claim. Doesn't that make sense?
07-09-2003 | 11:24 AM
#30
Unregistered Member
Originally posted by SiGGy
Tom if I took your advice I'd be out 3-4k on my last vehcile.
My 96 Jeep grand cherokee.
transmission
transfer case
A/C fixed 3 times (more than a year apart each time)
window motors/tracks
Warranty was only $700.
and so far on my CLS
Window motors
Transmission 3 times
blower motor
moon roof (leaked water)
window auto down solenoid
drivers door arm (plastic started to disform, very odd)
2nd stage intake actuator
Not counting all of the other BS I have brought it in for...
Tom if I took your advice I'd be out 3-4k on my last vehcile.
My 96 Jeep grand cherokee.
transmission
transfer case
A/C fixed 3 times (more than a year apart each time)
window motors/tracks
Warranty was only $700.
and so far on my CLS
Window motors
Transmission 3 times
blower motor
moon roof (leaked water)
window auto down solenoid
drivers door arm (plastic started to disform, very odd)
2nd stage intake actuator
Not counting all of the other BS I have brought it in for...
But let me ask you this--
On your Jeep, how long was your standard warranty? 3 years? 4 years? More? Now, how many of those items failed AFTER the warranty was expired? My point is this-- one more reason that buying an extended warranty (on a new car) is bad is because you're paying for it NOW, when you can't possibly even use it for 3 or 4 years from now (or even more with certain makes/models of cars) because you're already covered by the standard factory warranty. Shit, who knows if I'll even have the car after 3 or 4 years......
Also, assuming that your mileage isn't over the limit, your CL is still under factory warranty, right? How much money have you had to pay to repair the items you listed for your CL? The average driver would have paid exactly $0 for the repairs you listed.
07-09-2003 | 11:27 AM
#31
Unregistered Member
Originally posted by Kwick-CL-ver-S
Only a dealer's extended warranty option is available after Acura's warranty right? So does that mean who ever you buy it from will be the dealer u bring your car to for the duration of the warranty? And do they cover EVERYTHING like thE the orginal Acura warranty?
Only a dealer's extended warranty option is available after Acura's warranty right? So does that mean who ever you buy it from will be the dealer u bring your car to for the duration of the warranty? And do they cover EVERYTHING like thE the orginal Acura warranty?
If you decide to buy one, look into the company though and see how good they are at handling claims.
07-09-2003 | 10:56 PM
#32
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From: Phila, PA
Extended warranties can be really good. One make sure you shop the price at different Acura dealers because they do mark them up at the dealer. I believe they pay about $700 for the 7/100K.
The reason they can be cost effective is because Acura does not pay the dealer who fixes something the same you would pay. They pay about $30-40/hour not $80+. Parts also only cost them the amount to produce because the dealer does not make any money on the parts when it is covered by warranty. At least that is the way Toyota works.
Regardless, it costs a lot less for Acura/Honda to pay for repairs than it would cost you. . . therefore if one major item breaks (A/C can cost you thousands, so can ABS systems etc) you come away clean, no unexpected expenses is the key!!!!!!
The reason they can be cost effective is because Acura does not pay the dealer who fixes something the same you would pay. They pay about $30-40/hour not $80+. Parts also only cost them the amount to produce because the dealer does not make any money on the parts when it is covered by warranty. At least that is the way Toyota works.
Regardless, it costs a lot less for Acura/Honda to pay for repairs than it would cost you. . . therefore if one major item breaks (A/C can cost you thousands, so can ABS systems etc) you come away clean, no unexpected expenses is the key!!!!!!
07-09-2003 | 11:36 PM
#33
Moderator Alumnus
Originally posted by Tom2
Okay, fine. That's YOU. I have never paid anything substantial on any of my cars out of pocket. Call it luck or whatever you want....
But let me ask you this--
On your Jeep, how long was your standard warranty? 3 years? 4 years? More? Now, how many of those items failed AFTER the warranty was expired? My point is this-- one more reason that buying an extended warranty (on a new car) is bad is because you're paying for it NOW, when you can't possibly even use it for 3 or 4 years from now (or even more with certain makes/models of cars) because you're already covered by the standard factory warranty. Shit, who knows if I'll even have the car after 3 or 4 years......
Also, assuming that your mileage isn't over the limit, your CL is still under factory warranty, right? How much money have you had to pay to repair the items you listed for your CL? The average driver would have paid exactly $0 for the repairs you listed.
Okay, fine. That's YOU. I have never paid anything substantial on any of my cars out of pocket. Call it luck or whatever you want....
But let me ask you this--
On your Jeep, how long was your standard warranty? 3 years? 4 years? More? Now, how many of those items failed AFTER the warranty was expired? My point is this-- one more reason that buying an extended warranty (on a new car) is bad is because you're paying for it NOW, when you can't possibly even use it for 3 or 4 years from now (or even more with certain makes/models of cars) because you're already covered by the standard factory warranty. Shit, who knows if I'll even have the car after 3 or 4 years......
Also, assuming that your mileage isn't over the limit, your CL is still under factory warranty, right? How much money have you had to pay to repair the items you listed for your CL? The average driver would have paid exactly $0 for the repairs you listed.
I can see your point... sort of... It's guessing if the product will fail, and how $$ the cost will be to fix it.
But on certain items I value my extended warrantys. I have a 65" HDTV with a 5 year warranty. Is it worth it? well it was only $279. Items like that are $150 minimum to have fixed. Usually a lot more when you add parts labor and pickup/delivery costs too.
If the car was out of warranty (the cls) a lot of those would have costed $$ to fix.
I haven't purchased a extended warranty for my CLS yet, I will soon though. Right at 49k
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saturno_v
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asahrts
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