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Extended Warranties

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  • I bought a 7year/75K mile manufacturer warranty with $0 deductible for $600 for my 2004 V6 Toyota Highlander.
  • ateixeiraateixeira Posts: 72,587
    Dirt cheap, good deal...

    -juice
  • I bought the ESP for my Explorer before it turned 36,000 miles and boy did I get lucky there.

    I believe it was the 6yr/75,000 mile for around $700.

    Around 50,000, the tie rod, upper and lower, wore out prematurely.

    Around 60,000 the engine crapped out and needed a new one. It was back-ordered due to the high demand on replacement engines (scary thought right there). Even though I wa ssupposed to get a free "loaner car" according to my warranty, the dealer I went through said that they couldn't do that but they would put me up in a rental. ESP would only pay up to $30 per day....the engine replacement took approx 30 days.
    When I returned the rental car, I wa sgiven a bill for about $280 by the rental company. They said with daily tax and such, the Ford ESP didn't cover it all.
    :-P
    weenies

    After getting the "Exploder" back, the AC didn't work. Took it back three times to get that "fixed". Two of those times required a "rental".

    Moral of the story.
    I saved a bunch of money by spending for the ESP.
    I lost a bunch of money/time buying an Exploder.
  • qaliqali Toronto CanadaPosts: 60
    I am currently leasing a 2002 Acura TL. I have 3 months remaining on the lease, and the vehicle has performed flawlessly during the past 2.8 years. The only issue has been the transmission recall by Acura, but after the dealer inspection no problems were found on my car and Acura has extended the standard warranty on the transmission to 7 years.

    I am planning to buy-out the car and keep it for at least 7 years. My question to this group is whether I should be considering Extd warranty. My dealer said that it is still available. Is the car reliable enough to last another 4 years without mechanical and electronic problems?

    Thanks
  • Hi qali. There is really no right or wrong answer to the question of whether it is a good idea to purchase an extended warranty or not. Whether you should do so really depends upon how risk averse you are. I personally tend not to purchase extended warranties on my vehicles and find that consumers who purchase reliable models, like Hondas and Toyotas and their respective luxury brands Acura and Lexus, often do not make their money back on extended warranties. I always recommend that consumers who do want to purchase an extended warranty purchase an official manufacturer-backed policy. It is in manufacturers' best interest to keep consumers as happy and for their sakes hopefully loyal customers so they are more likely to step up to the plate and provide coverage if you have a problem with your vehicle than some random independent warranty provider would be. I am not familiar with the laws pertaining to extended warranties in Canada, but here in the U.S. most states allow consumers to negotiate the prices of extended warranties. Furthermore, you do not have to purchase the warranty for your vehicle at the dealership that you took delivery of your car at or the one that you plan on having it serviced at. You are free to comparison shop for an ESP, purchasing from the dealership that quotes you the lowest price. Of course, it never hurts to give the dealer that does your services work an opportunity to match your lowest price quote.

    In summary, I personally would not purchase an extended warranty on a vehicle that traditionally has been very reliable, like the Acura TL, especially if Acura has already extended its Powertrain coverage, but if you want to do so, shop around.

    Car_man
    Host
    Smart Shopper Message Board
  • qaliqali Toronto CanadaPosts: 60
    Thank you for the advice. In my case, the extended warranty is offered by Acura and I am to believe that the price does not change from dealer to dealer. I will however, confirm that. I personally would not go for 3rd party warranty providers.
    Having said that, you are correct that these are very reliable vehicles and are not prone to failures. My intent was to find out from this audience if anyone has had a TL long enough and whether I should be worried about any major issues in the next 4 years or so.

    Thanks once again.
  • I am playing blackjack with my $875.00 as you suggested in posting #491, but I am betting against Honda over a period of 7 years or 100,000 miles. It has nothing to do with fear, but it has a lot to do with simple economics. $125.00 a year against the cost of a new automatic transmission, ($3,000 to $6,000), is cheap insurance. Some people bet at the casino, and I bet in a different fashion. It doesn't matter to me if other people do not have a warranty claim with an extended warranty. It only matters if I am covered by the extended warranty. I personally do not care how much money Honda makes with this program. All I care about is that my financial obligations are covered. Yes, it is "personal"!
  • sandman46sandman46 Posts: 1,798
    As Car_man has said, it's really about the amount of risk one is willing to take on. I've never done this on any car that we've owned. The wife's '01 Altima needed a new radiator, water pump, & left axle boot within the last 4 months for a total of about $600. Hind site tells me that maybe I should've taken out an extended warranty. With 67k clicks on the odometer and 4 years of ownership, probaly should've. But at the time, I took a gamble on the reliability factor of Nissan products.
    The only other things have been maintenance items...1 battery, 2 sets of tires, wiper blades, air filters, tranny and radiator flush, alignments and the 3750 mile oil changes. She still loves the car and hopefully we'll keep it till 100k.
    With her next car, I will definitely look for an extended warranty. I'd like her to try the Accord, as we've never owned a Honda yet. Nissan and Toyota have been our only autos since 1988 and we're quite happy with them!

    The Sandman :-)
  • That breaks the bank on any car today.......
  • ateixeiraateixeira Posts: 72,587
    We spent $2500 fixing our 626 in years 5-7 of ownership, with less than 80k miles.

    A warranty would have cost half as much and we'd have had a perk to help boost resale value.

    And yes, there were no major repairs. Engine and tranny were fine. It was the little stuff, wheel bearings, O2 sensor, axle boots, etc.

    -juice
  • Most newer vehicles engine and trans, will go 100k plus with a tune up, a oil change, and a timing belt !
  • I went to the finance guy today at the Subaru dealer for the 2005 Outback I am purchasing. After he talked me into the 2.9 financing for 63 months (over my home equity loan)... he almost speed talked me into signing for Lojack, alarm and extended warranty for 2500 dollars!!!
    I asked if I could think about it and he said this is the contract today!!! He was so excited!
    He discouraged me from using GEICO saying the deductible is $250 and they don't using Subaru parts.
    I ended up saying no to all except the 2.9 financing because I didn't think of researching this stuff beforehand. The extended warranty from Subaru is about $1450 to extend the warranty to 6 years and make it bumper to bumper. And come to think of it maybe going with GEICO may be a mistake because "what if they drop me" or I change insurers?

    So....... if I maintain my new Outback, do I really need an extended warranty and if I do get one..did I really have to get it today (delivery is 9/23 Thursday) and what should I pay for how much more coverage???

    Thanks, Guys!
    —Gary
  • ateixeiraateixeira Posts: 72,587
    I bet Geico would use OE parts for a certain amount of time, maybe if the car is less than 3 years old. After that they will use cheaper aftermarket stuff.

    If you get insurance with Liberty Mutual, they have a special program where they will use OE Subaru parts for the life of your car. It does cost more than I'm paying for my insurance, though (as expected).

    As for the warranty, I would stick with a Subaru Gold, even if you need to include a small deductible for each claim, maybe $50 or $100, to make it more affordable.

    You'll get 6 years of roadside assistance with that warranty, BTW.

    -juice
  • I used to have Liberty Mutual (for 20 years) since I got out of High School. Last year after I dropped my insurance for a few months because I had no car (big mistake) they wanted $2000 a year (double) just to start back up again (even though I was low risk).
    So I went with GEICO because they didn't pull that nonsense.

    How do I find out the best prices for Subaru Gold?

    G dub
  • ateixeiraateixeira Posts: 72,587
    There was some good advice above. Ask the F&I guy to see his pricing sheet and offer $100 over his cost.

    The trick is to find a motivated seller.

    -juice
  • akanglakangl Posts: 3,596
    The Nissan F&I guy about a 6 yr/100k ESC for my Titan and he quoted $1790 for the security plus something or other (top of the line ESC).

    Now here's the part that got me, he said that once my truck (2004 Nissan Titan with 11,200 miles on it) rolls over 12k miles the coverages start going down and I won't be able to get the 100k ESC. I called major BS, but he was adimant.

    I've never heard that before, I know the price goes up some after 12k miles, but I always thought you could buy the new vehicle ESC up until 36k miles. He said no, that once its over 12k miles its no longer eligable for the new car ESC. Major BS or is he right about Nissan Security plus?
  • driftracerdriftracer Posts: 2,692
    I know of NO manufacturer that has rules like that - sounds like some pressure to get you to pop for his warranty -

    Your best bet is to do some surfing and find a big Nissan dealer that sells ESCs on-line - call and get the facts.
  • akanglakangl Posts: 3,596
    Exactly what I thought, thanks for confirming it.
  • rroyce10rroyce10 Posts: 9,359
    ......... Oh yeah, anything over 12k and no mooses'sss'sss - page #2, paragraph 12, item line 6, look under BS ...l.o.l....

                                     Terry.
  • akanglakangl Posts: 3,596
    I promise he didn't get me with his high pressure pitch, I actually told him he was full of it. I was just surprised he would lie like that, then again this is the same dealership that let a tech take my truck for an 80 mile joyride (gone for 2 hours, they had no idea where he was or how to find him). I can honestly say the thought of kicking him where it counts definatly crossed my mind. NOBODY messes with my truck, especially the Titan.
  • purchased a 1997 Aurora with 74000 miles. Has anybody ever dealt with Premier Warranty Group? If so, good and bad points? They seem to have great rates, but they could be too good, if you know what I mean. Appreciate any comments.
  • It sounds like you made out okay... unlike me! I had a recent experience with Warranty Direct and was horrified at their claim handling. Although I was told by the sales guy who sold me the coverage that they would pay ANY labor rate, I found out the hard way that Warranty Direct ABSOLUTELY caps their labor rates and parts! I wound up paying over $400 on a repair that I was told had a $0 deductible! Nice, huh? After doing some research as to why they would operate this way, I discovered that their insurance company has recently been downgraded by AM Best for the second time in 12 months! Could the end be near? BEWARE!
  • oldieoldie Posts: 6
    Our 1999 3.2TL has been running smoothly with no problem. I did buy a refundable extended warranty. We probably will get a refund mid next year.
  • I had checked out some of the third party people on the net actually got a call back from Warranty Direct on the telephone. After a check of this board and the better business bureau I've decided that the third party warrantees are to be avoided. Two good leads for the GM extended warranty were presented on the board for Capper Auto Center in Iowa and Blacks GM Outlet in PA. Both have good BB history. I called the Iowa dealership and found an extremely nice no pressure person on the other end who explained everything and their pricing structure. Their price was even lower than the GM employee discount price I am entitled to receive.

    While extended warrantees are always a crapshoot, they at least they put you in a better position at repair time and have some additional benefits like rental and roadside service. I will probably ultimately opt for a factory 100K mile $200 deductible on my Vibe. Thanks for all the recommendations.
  • We were offered (and took) a $1650 Security Plus "Gold" extended warranty for 100k/ 84 mos on a new 2005 350Z, then found that there was a $50 deductible option not offered. Suggestions welcome on whether this is useful, should be cancelled, attempt to upgrade to 0 deductible.
  • ateixeiraateixeira Posts: 72,587
    That's a pretty small deductible. To me a warranty is to protect me from a catastrophic loss, so $50 wouldn't be objectionable.

    Having said that, ours has no deductible.

    -juice
  • hoodbhoodb Posts: 1
    I am in the process of purchasing a new Santa Fe. I talked to the finance manager who went over the Hyundai Advantage plus, which extended my service contract from 5 years/60,000 miles to 10/100,000. He said that the price would be $1595. This seems like a good price for a 100,000 mile service contract. What do you think?
  • Hello hoodb. New Hyundais already come with a 10 Year / 100,000 mile Powertrain Protection warranty that covers most engine and transaxle components. So the extended warranty that you are purchasing will essentially serve to convert the coverage that your car already has into a full bumper-to-bumper warranty and provide you with a free rental car when your car is in for repairs. Whether or not you feel as though this additional coverage is worth the $1,500 that you were quoted is more of a personal preference than anything. I personally think that I would lean towards not purchasing the additional coverage since this model's powertrain warranty already goes up to 100,000 miles. The engine would be the main area that I would want to have coverage for. If you do opt to purchase an extended warranty for your car, remember that in most states, the selling prices of extended warranties can be negotiated. Not only that, but you do not have to purchase the extended warranty for your car where you bought it or where you plan on having your service performed. You are free to purchase your extended warranty from any Hyundai dealer. You may want to comparison shop with a few other dealers either in person, over the telephone, or via e-mail to make sure that you are getting the lowest possible price for this level of coverage.

    Car_man
    Host
    Smart Shopper Message Board
  • danf1danf1 Posts: 935
    Is your Santa fe 4x4 or fwd? There is a difference in cost for the two. Powertrain coverage is great, but if you do intend on keeping your car past the 5 yr 60,000 mile plateau some things to consider: Air conditioning compressor
    Starter
    Alternator
    Power window motors
    The items that "nickel and dime" in the second five years will be covered 100% parts and labor. HPP also includes rental car coverage for the entire term that Hyundai's standard warranty does not. You can E-mail me if you have any more detailed questions.
  • bikerpabikerpa Posts: 68
    "extended my service contract from 5 years/60,000 miles to 10/100,000"
    ...Using the words "service contract" sounds to me like they're throwing maintenance in along with the warranty coverage. Clarify, please?

    I bought an Elantra hatchback last April and sprung for the $869 (at my dealer) bumper-to-bumper 100k extension. I like the thought of paying for nothing except brake pads/discs, oil, oil filters, air filter, tires, wiper blades, and a timing belt (total cost: $950ish) over the space of the next five or so years that it'll take me to a) pay off the car and b) put 100k on it. The factory warranty came into play just last week - shifting from 1st to 2nd was grinding, so they threw in a whole new manual transmission, and now all is nifty. The dealer I went to for service, 500+ miles from the dealer where I purchased the car, was nothing but cordial and didn't attempt to separate me from any of my money.
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