What is your opinion about buying extended warranty when purchasing used car?

Nope.

Negative

Just wait and get one from the people that call you every single day about buying one.

I bought a new luxury car and may consider buying an extended warranty through the dealership. I will haggle with them on price pretty significantly though if I decide to go for it. The reality is I am risk averse and would rather spend $2,000 to guarantee another 30,000 miles of use than be worried about a $5,000 repair happening randomly.

Depends- a $10,000 used car, probably not

A $40,000 used car, it's more likely. I bought one with my wife's Escalade and it definitely paid for itself. New motors for the running boards, new electronic shocks, new door trim that was peeling clear coat, and a couple of other things that made it worthwhile.

I bought one when I bought my truck (new truck) because it stretched out to 7yr, 125,000 miles, and I figured that things like window motors, nav screens, cruise control, etc had a fairly good chance of breaking in that time. Maybe I'm naive, but it seemed like a good hedge at the time.

Depends on the car.... honda? No. Anything from England? Yes

quote:

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I bought a new luxury car and may consider buying an extended warranty through the dealership.

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A few on here have posted about buying a warranty, but why buy from the dealership who marks up everything.

Why not buy it somewhere else?

LINK

Get the dealer to throw it in for free. Just make sure that nothing breaks due to lack of maintenance. If you have an oil leak and you don't catch, and the engine blows up, they'll deny the claim for lack of lubrication. You need to be extra vigilant for coverage.

I've done it, and it's pointless. They will do anything and everything to deny every single claim

Yes, but it must be a factory warranty , not some third party crap