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Extended Warranty for Vehicle
Posted on 1/28/25 at 1:16 pm
Posted on 1/28/25 at 1:16 pm
Son bought his truck new and bought the extended warranty to get him to 75k. Its expired and he's not ready to buy a new vehicle. Anyone have any experience or advice on purchasing an extended warranty on the market? Recommendations for a reputable company?
21
Posted on 1/28/25 at 1:19 pm to msap9020
His note should be paid off by now so self insure.
The extended warranty prevents a large repair bill while still paying the note.
ETA: If a good estimation of miles per year was made at purchase.
The extended warranty prevents a large repair bill while still paying the note.
ETA: If a good estimation of miles per year was made at purchase.
This post was edited on 1/28/25 at 1:22 pm
Posted on 1/28/25 at 1:20 pm to msap9020
I want to say a buddy of mine bought one through the dealership he bought his truck at. See if he can try that route.
Posted on 1/28/25 at 1:21 pm to msap9020
quote:
75k
Unless it's a Chevy, it's just getting broken in.
Posted on 1/28/25 at 1:24 pm to msap9020
He wants to sell it at 75k? Drive that bitch until the wheels fall off. He is young, save as much money as he can and you can save more if you drive a vehicle until the transmission falls out.
Posted on 1/28/25 at 1:24 pm to msap9020
Why are you trying to help him keep making poor financial decisions? Put $2k in a savings account, you know, for emergencies.
Posted on 1/28/25 at 1:31 pm to msap9020
I always thought those vehicle warranties were scams but I mostly have driven Toyota. Pay it off and drive it until it dies.
75k miles ain’t much. This isn’t 1982. Going over 100k seems pretty standard these days
75k miles ain’t much. This isn’t 1982. Going over 100k seems pretty standard these days
This post was edited on 1/28/25 at 2:28 pm
Posted on 1/28/25 at 1:36 pm to danilo
quote:
vehicle warranties were scams
If they weren't profitable to sell, they wouldn't sell them.
My FIL almost bought one for his BMW X5. Ended up trading it in when the warranty ended. There was a coverage cap of something like $10k that won't get you far on a big repair.
OP, read the fine print. Or better yet, make your son.
Posted on 1/28/25 at 1:40 pm to OweO
quote:
He wants to sell it at 75k? Drive that bitch until the wheels fall off.
Did you even read the OP? Unbelievable.
Posted on 1/28/25 at 1:42 pm to TDTOM
One thing I learned from TD is never buy the extended warranty. It’s a big money maker for the dealership.
Posted on 1/28/25 at 1:43 pm to msap9020
We got my son the "platinum" extended warranty through GMC when we bought him a used 2018 Chevy Colorado with 88k miles on it.
We spent $3,000 in the first year on shite they would not cover because they said it was "wear and tear".... not sure how tire pressure sensors, a fuel line leak and a water pump going out are all wear and tear.
No plans to ever buy an EW again. feels like we got royally fricked
We spent $3,000 in the first year on shite they would not cover because they said it was "wear and tear".... not sure how tire pressure sensors, a fuel line leak and a water pump going out are all wear and tear.
No plans to ever buy an EW again. feels like we got royally fricked
This post was edited on 1/28/25 at 2:27 pm
Posted on 1/28/25 at 1:43 pm to saderade
quote:
One thing I learned from TD is never buy the extended warranty.
I did and it has paid for itself more than once.
Posted on 1/28/25 at 2:25 pm to msap9020
I have seen them for sale online from dealers, I assume this is legit and your local dealer will honor it.
Posted on 1/28/25 at 2:25 pm to PerplenGold
quote:
If they weren't profitable to sell, they wouldn't sell them.
Funny you mention that
Sales guy: it’s a great car! You should buy it!
Finance guy: it’s a piece of crap! Buy the warranty!
Posted on 1/28/25 at 2:37 pm to msap9020
I have a 5yr/60,000 bumper to bumper $100 deductible on my 2016 Genesis. Used it twice at the Genesis dealership and it has paid for itself.
I'll have to dig out the paperwork for the name. Cost me $2500 on a 98,000 mile vehicle.
I'll have to dig out the paperwork for the name. Cost me $2500 on a 98,000 mile vehicle.
Posted on 1/28/25 at 2:42 pm to msap9020
My limited experience with extended warranty is the warranty company will do whatever they can to get out of them. Of your touchscreen is going out due to a known problem that the manufacturer has since fixed in newer models; I am sure that is covered. Oh, I see you have not kept up with the 6-month oil change and annual tire rotation even though your mileage does not justify going that often. Unfortunately, we will have to deny the coverage and you will need to come out of pocket $700 because you did not follow the terms & conditions of the service agreements.
Posted on 1/28/25 at 3:44 pm to msap9020
I got an extended warranty on my Camry - had dealt with a lot of crappy cars to that point and just wanted the peace of mind. It helped that they did a very thorough refurbish & inspection so the "wear & tear" stuff had already been fixed so I didn't ever really have issues with coverage being denied.
One thing I'll say is that it kept me going to the dealership instead of a private mechanic. At the time of purchase, I spent every weekend partying with about half the mechanics & trusted everyone.The dealership went waaaay downhill during the life of my warranty, those guys all left, & I don't honestly miss it now that the warranty expired.
One thing I'll say is that it kept me going to the dealership instead of a private mechanic. At the time of purchase, I spent every weekend partying with about half the mechanics & trusted everyone.The dealership went waaaay downhill during the life of my warranty, those guys all left, & I don't honestly miss it now that the warranty expired.
Posted on 1/28/25 at 4:12 pm to msap9020
Ill be glad to sell him a policy for $50/month and then just deny him once he tries to file a claim like pretty much all the "warranty" companies do.
Posted on 1/28/25 at 4:20 pm to HoustonGumbeauxGuy
quote:
We got my son the "platinum" extended warranty through GMC when we bought him a used 2018 Chevy Colorado with 88k miles on it.
We spent $3,000 in the first year on shite they would not cover because they said it was "wear and tear".... not sure how tire pressure sensors, a fuel line leak and a water pump going out are all wear and tear.
No plans to ever buy an EW again. feels like we got royally fricked
At 88k miles, you bought a non-factory extended warranty. They are indeed crap.
When buying new, check to see if there is a dealer selling the FACTORY extended warranty nationally. For Ford, it's Flood Ford. Honda is Sacucci (sp?) Honda, etc. You will save thousands off what your local dealer wants to charge, same exact warranty. Most affordable makes have dealers that do this, VW being a notable exception - arrogant Krauts. It ends up being worth it for most cars these days.
OP, there is no extended warranty that is a good buy for you at this stage. Just get a high interest savings account, or better yet set up a Schwab account and buy something conservative like PYLD or AOHY and save money there for repairs.
Posted on 1/29/25 at 6:48 pm to OweO
That vehicle will do another 150k miles easy without major repair. If your worth a damn you can do those yourself
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