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re: new car extended warranty
Posted on 7/29/26 at 8:38 am to Traveler
Posted on 7/29/26 at 8:38 am to Traveler
quote:
While an extended warranty might be beneficial to some, others would rather write the check when repairs are needed.
It’s not just binary this or that.
They price package services all up front locking in profit when you sign for warranty. Their $ margin is guaranteed for their services and statistically in their favor for the big things. Yours is hope.
Unless you have, say, an emergency fund where you are countering with earned income and flexibility options from that fund that a warranty cannot provide. This fund also applies to roof repair, AC replacement, appliances, etc.
Auto warranties $ goes out the door for something you may not need and locks that $ from roof, AC, appliances.
Highly recommend emergency funds in place of warranties. They sell fear. Fear not with emergency fund.
This post was edited on 7/29/26 at 8:40 am
Posted on 7/29/26 at 10:22 am to Bayou
I would get it for the electronics alone.
You don't have to buy it right then at the dealership. I bought mine from a much larger dealership for less.
You don't have to buy it right then at the dealership. I bought mine from a much larger dealership for less.
Posted on 7/29/26 at 7:24 pm to Don Quixote
quote:
depends on the vehicle.
Yep, all the junky domestics i.e. Ford, GM and Stellantis (Dodge) have a high rate of usage for 'extended warranties.
Next is the European vehicles, BMWs, Mercedes, Audi, Land Rovers is notorious about breakdowns.
Your basic Toyotas, ie Camry, Corollas, SUVs trucks WITHOUT the turbo chargers, are rock solid vehicles. You can add Lexus' in the mix.
Next is the Hondas, then throw in some of the Mazda's.
Personally, I would steer clear of any of the Big Three right now. Plus, most if not all the German made vehicles, too many gadgets to go wrong.
Kia and Hyundai is putting out a lot of crap these last few years as well.
I would go with Toyota/Lexus, then Honda followed by Mazda.
Posted on 7/29/26 at 8:02 pm to Bayou
quote:
Are extended warranties a scam, necessary, worthwhile?
With all the tech in electronics it's a different approach today.
The tech in cars today is not for your benefit, nor made to make the ride a better experience for the buyer.
I'd much rather have a paid off Toyota/Honda sedan with 200,000+ miles that I drive the wheels off than pay stupid monthly subscriptions for dumb features, or have my data sold to the next highest bidder because some car maker needs more cash.
Buying a new car at outrageous prices is increasingly not worth it IMHO.
Posted on 7/29/26 at 8:07 pm to Bayou
No. I’ve seen the origination fees and how little those jokers actually reserve for repairs. I’ve also managed a large fleet and we had a ton of repair data and could never reconcile the cost.
Posted on 7/29/26 at 9:02 pm to Willie Stroker
Do you have health insurance? Or do you "plan for that" also?
It is the same fricking thing. Some folks may not have the money saved as such a fine financier as you. So, having a back up with only paying a few extr bucks a month may not be such a bad idea,
Don't be such a dick about it. It's just another way of looking at something.
It is the same fricking thing. Some folks may not have the money saved as such a fine financier as you. So, having a back up with only paying a few extr bucks a month may not be such a bad idea,
Don't be such a dick about it. It's just another way of looking at something.
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