Used car extended warranty

[CWS]

Have any of you bought a warranty for a used car that didnt have any manufacturer warranty left, AFTER you have purchased said vehicle? I purchased a vehicle thats 7 years old and looking to buy a warranty, anybody have a recommendation?

 

[eyexer]

I think GE does them

 

[Norske]

Read the exclusions in the contract very, very carefully. You won't get the same deal someone whose car just went out of warranty will be offered by a reputable company.

 

[L1&Q1]

Read them over VERY good pay close attention to what is covered and whet is not, its been my experience the GMPP is a good one some wont cover rentals,seals and gaskets etc. etc. read it over good

 

[buckhunter24_7]

If you ever buy a extended warranty from the dealer tell them you will get it through another company or your bank, they drop the price real big real fast I couldn't believe how much they pocket themselves when I bought my last pickup. I got mine through the bank gonna find out how good it is this week having power steering problems (ford)

 

[3Roosters]

I would be very leery of used car extended warranties. Extended warranties IMHO, are money makers for the sellers of them as for most products, they are very rarely used. What will said warranty cost you monthly? Maybe you could stash that amount of money aside in a separate account to use "in case" you need it for vehicle maintenance.

 

[Bri-guy]

I got one from my bank for my wife's Rav4. Just replaced the entire rear end on it and they paid for everything. I bought one from my dealer about 10 years ago and that one was really good as well -- even replaced my factory radio when it went out. Just read the exclusions and make sure you don't have any deductible. Also look for things like rental car allowance, etc. It's a great piece of mind when buying a used car because you don't know what the previous owner did (or did not) do to it.

 

[martinslanding]

Most of the extended warranties I have purchased have worked out real well, but read the fine print on what they cover, and if they cover electrical that’s huge. Also upgrade and get the minimum or $0 copay…I have found this is extremely helpful on used 4WD vehicles, there always seems to be a seal or gasket leak somewhere. ..they main thing is don’t’ forget to use the warranty, I think on average I have paid $1200-$1600 for an extended warranty one major repair and it pays for itself…I had an old suburban that had extended warranty probably the best one I ever had, took it to the dealer for an oil change every time I told them to give it the once over….every time they found something that needed to be repaired or replaced….that warranty alone probably saved me $5k
…on the flip side we have one on our newer vehicle and unfortunately we’ll probably take it in the shorts on this one…have only had to replace one thing so haven’t got my money out of it yet…IMO it all depends on the vehicle and the likely hood it will break down, so any Ford, Chevy or Dodges you should come out ahead on the extended warranty

 

[CWS]

looked into Warranty Direct because they were through our insurance (Progressive)...37 months/37000 miles for the top tiered warranty would cost about $2500 or $150/month with 0% interest. It all sounds good but did some research on them and they don't have very good reviews. Found another, Endurance warranty and they have better reviews but I have yet to get specifics on pricing. Doing research AFTER we bought our used SUV, I and my wife are worried about the quality of the vehicle...ya ya dummy me for not looking into it in the first place but now we have it and im sure I cant get the $ out of it that we owe if I trade or sell private party..... #life

 

[snow]

Your AWAYS better off with an ex-war if you are buying from a dealer that has factory extended warrenty options rather than some off brand type,sure off brand option B might be cheaper but why? as stated ask questions on coverage and read,you get what you pay for.Further you'll have deductible options zero,$100 or $200,$100 lowers the payment and doesn't hurt as bad as the $250 if and when you use it.

7 year old vehicle won't get you much coverage,so read into it carefully,I suspect mostly powertrain but nothing else.

 

[Enslow]

For the price of an extended warranty you could probably rebuild your motor or tranny for close to the same expense.

 

[Captain Ahab]

I would say look at the cost of the warranty and just put that away for a rainy day(if you have the fortitude). The only way I see them having good odds of paying off is to take out a good one knowing you want a new transmission and doing a few reverse to forward burnouts to lunch the tranny, ergo you get a new one.

 

[johnr]

If the something goes wrong, just start it on fire. Neighbor did that and was caught with insurance fraud/arson, but I think if you are a little smarter about it you can get away with it.

 

[Norske]

A car dealer (the dealership owner) told me years ago not to buy an extended warranty until the factory warranty was about done (don't pay for double coverage), and then only if the vehicle had been troublesome. As was said earlier, they make money. This dealer admitted he got 50% as a commission.

 

[CWS]

Bri-guy, which warranty did you get from your bank?

 

[Wild and Free]

I just purchased an extended warranty policy through Bismarck Nissan, got a 6 year 100K mile warranty " car only has 21K on it now"with a disappearing deductible which means as long as I take it into Bismarck Nisan for repairs there is no deductible but if taken to another dealer it is capped at $100. Was $2190 for the policy, car goes off its factory warranty in 2 weeks. Reason I got it is because my car is a convertible and I have read numerous stories of the convertible top and motor/pump system failures on them are in the 13-15K range for parts alone and have seen a few stories of $20K plus for the top R&R with parts. Plus since the car is higher end with electronic gadgets up the hiney it made for an easy decision. The warranty Co is CNA national, dealer says they cover more than even the factory warranty does plus it has other perks included with the package. It is a pro rated policy as well so I can get money back if I get rid of the car before end of contract. Time will tell but to me it was cheap insurance as compared to a $20K+ convertible top assembly.