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Gold Plus Extended Warranty -- worth it?

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Comments

  • alamocityalamocity Posts: 680
    What it all boils down to is whether you can afford to pay out of expense cost for repairs that can easily run from $2000.00, if you can great if not then the extended warranty may be the best choice for those who can't. With all the modern technology used on vehicles repair costs are going to be expensive.
  • robsisrobsis Posts: 160
    edited July 2010
    Gotta agree here....the overblown pricing at the dealerships on the day of purchase are ridiculous; however, for a modest sum, like that posted by Mastria Subaru, you can get decent coverage....and with all the electrical gadgets on these new cars, it can save you money, depending on how long you keep your car.

    When we bought our '09 Leggy, the dealer was 'stuck' at $2300 as the cheapest he could go for the extended warranty that Mastria has on their list at 1/3 the cost. That might be a good deal for many. I have always wondered if CU/CR, etc are looking at the list pricing on extended warranties when they argue against them. Over the years, I have bought several warranties on misc items (cars/fridges/washing machines), used some, not others. I think, overall, I'm way ahead, money wise, by utilizing the warranties. You just have to be judicious in your purchase. Not all items need/require an extended warranty. Also, as posted above, I've sold my last two vehicles with mileage left on the extended warranty and it has ALWAYS made a difference in how fast I make the sale and how much I get. Used car buyers love having it as part of the sale. JMHO.
  • aathertonaatherton Posts: 617
    "... I'm waiting for the right time to buy a warranty for my Forester because we plan to keep it forever."
    What year and how many miles is your Forester, when will the right time be, and which length warranty do you plan to buy?
  • jogousajogousa Posts: 402
    edited July 2010
    You can buy the extended warranty anytime before your regular (3 years/36 K) warranty expires. As a matter of fact, Subaru N.A. will probably mail you a notice before regular warranty runs out and offers you the extended warranty plan.

    The genuine Subaru dealers (as of 2 years ago) are no longer allowed to advertise these extended warranty plans's prices so it helps to shop around.
    There is a huge mark-up (minimum 100%) that dealers add to their costs.

    If you buy it now (before your regular warranty expires) you may protect yourself from a price increase that may be in effect in the coming years.
  • aathertonaatherton Posts: 617
    edited July 2010
    I don't think I will buy either the regular or gold extended warranty.

    My 2008 LL Bean Forester will have gone only 21, 000 miles in 3 years, garaged all the time and gently driven by a retired senior, with not one thing having gone wrong. In another 3 years the car will only have 42,000 miles. To pay $500 to $1000 to warrant such use seems a waste.

    To make these warrantees worthwhile, you need to give the car hard and varied use, family and off-road stuff that will work everything hard, use all the switches and devices, etc, and with a daily commute that will at least use up the miles that were paid for.
  • xwesxxwesx Fairbanks, AlaskaPosts: 8,391
    To make these warrantees worthwhile, you need to give the car hard and varied use, family and off-road type, with a daily commute that will use up the miles.

    So, are you recommending that I consider the extended warranty? :blush:
  • jogousajogousa Posts: 402
    edited July 2010
    Well, I am having second thoughts about this warranty on my 2010 XT.

    My other Subaru Forester (2005) with about 50,000 miles on it (that I gave to my son) has major auto transmission problems. He took it to 3 different authorized Subaru dealers (in California) and all 3 of them gave him 3 different possible causes and estimates, what it would take to fix it (averaging $ 2000 price to fix it).

    Then he took it to our friend who has a transmission repair shop for the last 20 years and we ended up making an all-wheel drive only rear-wheel drive (paid him $ 700 for a 2 week diagnostic work).

    He took the transmission apart, replaced some gears and solenoids and still could not get it working. So he simply made my son't Forester a 2 wheel (rear wheel) drive.

    Subaru tech support that he contacted was of little help, replacement parts are not available and they suggested a brand new transmission. Refurbised transmissions are not available on either coast (West or East). Also, apparently there are 2 different auto transmission configurations; one for East and one for West Coast.

    So there you have it. I am seriously thinking of getting an extended warranty for 6 years / 100 k now!
  • aathertonaatherton Posts: 617
    "So, are you recommending that I consider the extended warranty?"

    I don't know enough about you to recommend either way.
    On one hand, if you will only put a few thousand gentle miles on the car during the term of the warranty, the premium cannot be worthwhile.
    On the other hand, if you can give the car hard use for all the miles in the contract, there is a better chance the premium will be worthwhile.
  • jogousajogousa Posts: 402
    edited July 2010
    I don't think there is any difference between "gentle" driving and "hard driving".
    The difference would be if you do most of your driving in the city or highway and in what climate do you live in.

    If you do mostly highway driving in mild climates then it's not worth it, in my opinion.

    If you plan to keep the car "forever" and/or if you drive in either extreme hot or extreme cold climates, I would get it.

    Remember my earlier post, generally speaking it's not worth it (according to leading consumer research companies) but anyway you toss it, it's an "insurance".

    Same thing with healthcare insurance. Do you expect to get sick?

    In my own scenario (and my recent experience) since I plan to keep the car "forever" - I am getting it (6 years 100 K Gold Plan). Subaru USA has a 10 months installment plan so it's not such a shock on your budget.
  • xwesxxwesx Fairbanks, AlaskaPosts: 8,391
    I was joking and would not expect you to give an actual recommendation - I simply thought it apt that you made that comment shortly after I returned from a trip of "hard use." I am actually undecided at this point, but will likely not get the warranty based on previous Subaru experiences.

    We have about 15,500 on the car now after ten months of ownership, but typical annual totals are about 15,000.
  • aathertonaatherton Posts: 617
    edited July 2010
    "... I don't think there is any difference between "gentle" driving and "hard driving". "

    I am sorry if I was misunderstood. I was not talking about gentle driving, I was talking about gentle use.

    I am old, retired, and the only driver and occupant of the car. When not being driven, it spends its life in the garage out of sun and weather. It does not commute. It does not carry kids or pets or cargo. It does not go in snow or off pavement. It only goes 7,000 miles per year. I don't yank the windows to open or close the doors, or run the sunroof every day. Many of the controls are rarely used. The leather is still smelling new, the underside is clean, and the car will have the same newness when it is 6 years old with only 42,000 miles. It is not worth buying an extended warranty.

    On the other hand, some cars are left out in the weather, commuted long distances every day, often driven by several drivers, perhaps by aggressive young drivers, and may carry kids, pets, cargo, and perhaps be used in snow, gravel roads, or off road. These cars are going to accumulate the miles and use and wear that make an extended warranty worthwhile.
  • ateixeiraateixeira Posts: 72,587
    Agree that it really boils down to price for that warranty. $2300 is too much, IMHO, that pays for a major repair and two of them are very unlikely and you may not want to keep the car anyway.

    We drive few miles (3 cars, only 2 drivers) so for us a 7/70 warranty would be less than a grand, and you get roadside assistance for the 4 years beyond the OEM warranty.
  • robsisrobsis Posts: 160
    edited July 2010
    Just bought the 6/60 for our '09 Leggy (we drive 7500 a year or so). Great price (695) and Don at Mastria was great. Easy to deal with and fast service. Recommended!

    Thanx, Don!
  • jogousajogousa Posts: 402
    edited July 2010
    As stated earlier on these pages, these warranties have a huge mark-up and dealers are not allowed to advertise them.

    You don't have to buy this warranty from the dealer that sold you the car.
    Don Mastria Subaru can get you the same warranty for close to half the price, depending on length of coverage and deductible chosen.
  • ateixeiraateixeira Posts: 72,587
    Absolutely, there are huge margins, look at robsis' price for instance.
  • xwesxxwesx Fairbanks, AlaskaPosts: 8,391
    Was yours the classic or gold warranty?
  • jogousajogousa Posts: 402
    edited July 2010
    Got one for my 2010 XT from Mastria as well (Gold 6 years 100 K) - whole transaction went through smoothly. Received Subaru USA confirmation and all is well.
  • robsisrobsis Posts: 160
  • I am about to help my father in law buy a new new or used Subaru. If used it will be a 2007 or later with less than 36k miles.

    1) If used but less than 3 years / 36K is the the eligible for the the new car extended warranty?

    2) I assume Subaru is like Toyota and offers something like a Genuine Subaru plan that is essentially bumper to bumper with a zero deductible. Can you tell me what denominations they come in. Ex: I bought a similar Toyota warranty for my Camry and it a 7/75 warranty. What would best fit Pop would be a 7/75 as well. To be honest they will put less than 5K a year on the car. HE WILL WANT A WARRANTY..no need to debate the fact that he likely would not need one!

    3) What is a good price for this warranty. Its common place for them to offer the Toyota warranty for $1200 at the time of purchase. I then by it online from another dealer for $630...or the dealer I am buying the car from matches the price. I have done this after the fact on my last two Toyotas.

    4) Are their known dealers out there who will just sell the warranty at a reasonable price? Ie, they know I made my purchase somewhere but just sell me the extended warranty. Please let me know who. If you need a Toyota contact, I can give you one...blashemy --- I know!

    To be honest, I buy cars via email...hate to negotiate...that will not work in this case and is complicated more if he buys used. I feel I can determine a fair price for his purchase using Edmunds and other resourses but the warranty is always a bit trickier.

    THANKS!!!!!
  • jogousajogousa Posts: 402
    If you buy one with less than 3 years and less than 36 K miles you can buy Subaru Extended Warranty from any Subaru Dealer. A good price (in my opinion) would be $ 1000 to 1200 (non-turbo models) . You will get the policy from Subaru North America, once fully paid (they also have 10 months installment plan).

    Make sure you verify those miles if you buy the car from a private party.
    You can do that by going to CarFax or any authorized Subaru Dealer and give them the VIN number.

    The rest someone else can answer.
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