Are extended warranties a good buy?..

[just2L]

I am in the process of buying a new to me van for my wife. I have never purchased an extended warranty before but am seriously considering it. I was wondering if anyone could point me in the right direction?

Good experiences and bad...with so many different companies out there who knows where to start. Are there companies to stay away from?

 

[jad2411]

Not in my experience...
My uncle bought one for his car with Heritage and when he needed something repaired, "they told him ETA on payment to the dealer 7-10 days, dealer told my uncle, well your car will be ready in 30 min, you can pick it up as soon as your warranty pays, we'll let you know..." he paid cash got his car and cancelled the warranty

On my GF's explorer when she got the extended warranty she was asked "how many miles on the vehicle?" she said "~120k" she had 119 and change, so 3 months later transmision died on her, took it to the shop and warranty said "sorry, you have less miles than the registered ones" so she sent the invoice from the car lot and told them to correct it and they said, "there's no way you drove less than X miles in 3 months" she told them I work across the street from my house, no need to drive that much they still wouldn't accept it, so she cancelled

 

[bisjoe]

Read the fine print very carefully before you agree to it. I had one on a used '96 Explorer, and when the head cracked they sent an adjuster out to the dealer's shop to inspect it. They determined that it was not caused by the failure of a covered part, and denied the claim. They said there was no sign of anything else wrong so it had to have been a factory defect in the head. If it had been a water pump failure causing the crack, it would have been covered.

Most will not cover anything that wears out, such as a transmission failure due to clutches wearing. Read this taken from an actual warranty:

"TRANSMISSION: Internally lubricated parts of manual or automatic transmissions, including torque converter, oil pump, governor, bands, drums, planetaries, sun gear and shell, spring(s), shaft(s), bearings, shift rail, forks, synchronizers, and most internally lubricated parts of the 4x4 Transfer Case."

Notice no mention of clutches.

Also, there's a lot of room for the dealer to play with the price, if you do get one don't pay the full amount. If they don't budge, get one elsewhere after shopping around after the vehicle purchase.

 

[sjr033]

I don't have any first hand experiences. But I have NEVER bought the insurance. The amount you have to pay for the insurance would cover alot of repairs.

 

[IAmTodd]

I've had excellent luck with a Wynn's extended warranty. I bought my truck in Oct '04 and have had nearly all of my issues taken care of by them and the shop where I purchased my vehicle. As of last Tuesday my warranty has paid for itself. You could say in that respect it was a waste, but I haven't had to worry about shelling out extra change over the years.

Do extensive research on the company and the vehicle before you decide which way to go. If the vehicle is still covered under factory warranty I would go to a local dealer and see how much it would be to extend the factory warranty. That is a much more secure way and you will have the company backing you. Many warranty companies vanish with no trace leaving you without coverage.

 

[crash594]

Most only cover till 100000 miles I am glad I got mine I paid $2000 for mine and my AC compressor cracked the other day Final Bill from Ford $1200 my cost $100 DED and I just got my car so I have 3 years or 45000 miles to go.

 

[Alaskanredneck]

I used to be a service adviser at the ford dealership here in anchorage and the only thing i would ever recommend as far as an extended warranty for a ford would be the ford ESP you must have the vehicle inspected and i think only dealerships can sell it but it is well worth it. ESP is a little more expensive than the after market ones (Heritage, United Car Care) but Esp wont nickel and dime you like the others, esp pays for the alignment after you have ball joints replaced, ucc and heritage say that alignments are regular maintenance items. The after market warranty's also bully the shop or dealership into lower quality parts and then wont pay the full price for them, the shop passes that extra cost to you. Lastly the after market companies can take weeks or even months to pay a claim and the shop does not have to release your vehicle to you until the bill is paid in full! good luck

 

[Essex4x4]

I feel like they are worth the extra$$$ I paid $2000 for an extended warranty that goes to 75k. My factory warranty expires at 36k so I wanted to extend it (I have currently 35,500k on the odometer). I haven't got a chance to use the extended warranty yet but I have under my factory warranty replaced several things. When I bought it used this past January my driver side weather stripping was torn, and my rear driver's side tail light leaked. They fixed both of those items in about 40 minutes, no charge to me. I also had my front brakes replaced due to a faulty disk on my passenger side brake, same thing no charge to me. I bought one for this car and will continue to buy then for any future vehicle purchases that I make.

 

[EB04FFV]

I am in the process of buying a new to me van for my wife. I have never purchased an extended warranty before but am seriously considering it. I was wondering if anyone could point me in the right direction?

Good experiences and bad...with so many different companies out there who knows where to start. Are there companies to stay away from?

I look at it as "pre-paid" repairs. Bought the Ford ESP ($1800) after my truck's warranty ran out, with zero deductible and bumper to bumper coverage!
It's like during the first 3 years. Something is wrong - go to the dealer!
I already got one alternator and a new rear a/c line - no hassels , no questions, good to 2011 or another 25000 miles.

I like the zero deductible, otherwise they charge you $100 each time you show up. I'm betting that I need more in repairs then what I paid for the extended warranty.

 

[Curtis]

Ive been lucky so far with extended warranties

1996 explorer - 2 yrs was $1200 - I broke even with repairs
2002 taurus - 3 yr was $1300 - over $3500 in repairs covered. I think I paid 3 $100 deductibles
2004 explorer - 4 yr was $1800 - Ive had the truck just over a year and I'm even already and I have 3 yrs to go!

 

[A Wise Guy]

Of the extended warranties I have had...
'92 Dodge Daytona the warranty was paid back. Dodge warranty.
'97 Dodge Avenger it paid back twice. Dodge warranty.
'98 Ford Explorer it paid back 3 times. Dodge warranty.
'02 Honda CRV I'm still in the hole. Honda warranty.
'95 Honda Goldwing I lost my ass paying for the warranty. Honda warranty.
'06 Ford Explorer too early too tell. Toyota warranty.

 

[just2L]

Well getting a factory warranty is no longer an option due to higher mileage. I would like to know the companies that you guys have had success with. I have got a couple and will check them out. Thanks for the response.

 

[jad2411]

We cancelled with CDWS in march, on july's bank statement I show they kept charging the monthly fee, we called no luck, so we had to cancell the bank account, they have the worse customer service I have ever experienced

 

[Curtis]

Well getting a factory warranty is no longer an option due to higher mileage. I would like to know the companies that you guys have had success with. I have got a couple and will check them out. Thanks for the response.

Ive used Phoenix American out of Miami for 2 used vehicles.
no major problems with getting repairs covered

 

[Alaskanredneck]

All the aftermarket ones suck but the one that sucked the least and paid the fastest was united car care. but they still wont pay for an alignment if you have to have your ball joints replaced.

 

[jrseykid686]

BUY THE WARRENTY... but be careful... buy it from ford direct. I had it on my explorer up to 100K... best 2 grand i spent, i had tranny solenoid replaced, rear end replaced, a bunch of sensors and stuff... about 6 grand of work... plus a free rental. I will never buy a used car without one... but i have heard that buying from 3rd party is a bad idea. When i had it through Ford, i drove to the dealer, dropped it off, picked up my rental...free...then paid my 100 dollar deductible when my car was done