Home Car Review Are extended car warranties worthy of it? | Consumer Reviews

Are extended car warranties worthy of it? | Consumer Reviews


Extended car warranties are very good for carmakers. But Consumer Reports’ survey demonstrates most people under no circumstances use their extended warranty and these who do spend a lot more on the warranty than they conserve on repairs. Test out http://little bit.ly/1qypFKG for supplemental assessments, suggestions, and tips. Subscribe to our YouTube Channel: http://little bit.ly/1Nlb1Ez

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  1. Wait, people who bought Hondas and Toyotas were particularly dissatisfied that they bought extended warranties? You mean they were pissed their cars were reliable? Wow. Talk about an IQ test.

  2. You need a extended warranty if you have a German car. I spent $1700 on the certified used extended warranty for my Mercedes Benz SLK350 and there was about $5500 of work done on the car in the warranty period. 

  3. If the warranty is $1000 or so its a good deal. Anything more is a bad deal unless your buying a unreliable car like an american car etc

  4. I instead bought coverage through my insurance company that had the same deductible as the warranty they offered. I had a broken timing chain on my honda accord and geico fixed it for $200 flat. If you do want coverage for a car you'll own for more than five years its worth it. Cars tend to start breaking eventually and the cars driving history is never thought about thoroughly with inconsistent maintenance. Just two oil changes being off by ten days each forced me into a check engine light.my car still.drove but poorly and lost alot of mpgs. The cheaper alternative to buying from the dealer is first seeing if good insurance company has any form of gap coverage. It was way cheaper and I didnt need receipts they still fixed it. Even with the extended warranty from the dealer it still needed maintenance receipts even though my car was maintained at the dealership, and they dont keep your shit on file on purpose.

  5. Buying a lexus, sales person tried to sell me life time rust proofing. Declined, final step to making the payment and the billing person tried to sell me an extended warrenty before I sign the form to decline it. 

  6. I would rather err on the side of caution and have an extebded warranty available than not. i jeep my vehicles in great condition buy enjoy the potential mechanical safety net. Spending 30/40K on a decent vehicle these warrants that added bit of protection that the extended warranty provides.

  7. Be smart, and never buy warranty.
    I paid $2200 for warranty on my 2008 suburban in march, last week my AC was not working and warranty did not pay for the fix. Bill from the dealer was almost $500.

  8. consumer reports- how long were these extended warranties for?? mine covers 8 yrs/125k miles, bumper to bumper, $0 deductible and cost $1,100 thru honda (i got a 2013 civic) . i would think with all the technology cars have today, some of those repairs can be pretty expensive. ok, so it cost me about $200/yr for my 5 yr loan (0.9% for 60 months) but i'm covered for an extra 3 yrs and a bunch more miles than the standard warranty.

  9. I've only bought one of these in the past. It was on a German luxury brand SUV. The best money ever spent, as the repairs were 3 or 4 times the cost of the warranty. The advice here is kind of obvious. Buy a reliable car, maintain it properly and you won't need the extended warranty. But if you do buy it, recognize that like any insurance, you are paying for the risk mitigation not pre-paying for repairs.

  10. Is this an indirect advertisement for certain brands of cars?  As for Toyota, what would be better than an extended warranty is the assurance that the cars they manufacture and sell won't be a part of an international multi-million car recall.  With their reputation, one would never think that such recalls would be a part of their everyday business experience – but it is, more than any other… more than even GM.
    The fact still remains that every car from GM to VW would be reliable if they are well maintained by their owners.

  11. Who the hell thinks you buy these things to save money? You do it to protect yourself from a repair costing more than extended warranty in the time you have the warranty, not to save money. Do people also believe that auto or health insurance saves you money? No, we pay for these things to help handle extraordinary bills.

    And we also shouldn't be calling them warranties, they're best described as service contracts that you purchase. If something breaks, they're in an agreement to take care of it. That's all there is to it. Don't delude yourselves.

  12. I agree. My 04 acura just past it's extended warranty milage. Never used it and carmax charge me up in the ass for it. However, my dad and cousin have Chevy n ford, brand new; multiple visits to the dealer. Lol poor bastards

  13. Go for a lifetime extended warranty if you do opt to buy one, and be sure to shop around for the best coverage/price, sure it's a gamble if you'll use it or not, however if you think about it you gamble on car insurance, health insurance etc.. I mean do you plan to get sick or have surgeries?

  14. This totally depends on the car. If it is not reliable then you might want to get it. I would not touch a Land Rover/Range Rover without one.

  15. I purchased a pre-owned 2011 Honda Insight yesterday at a very popular local auto dealer where I almost got ripped off big. When things finally got to signing paperwork, I was taken to a small room where I was suddenly presented an option of an extended warranty that they sell. They scared me by telling a possible horror story of a hybrid vehicle whose electric components failing miserably, costing an owner $6,500 to repair without THEIR extended warranty. So what was the offer? 5 yr/60,000 mi coverage for $2,500. INSANE. They showed me financing APR of 3.9% initially, then they offered a steep discount to 2.0% if I opted for the extended warranty. I was stupid enough to say yes under pressure; they said the extended warranty was available only at the time I purchase the vehicle. They used every possible psychological tactics to presume me into buying the warranty.

    After failing to say no and signing paperwork, I expressed my strong displeasure about the fact that they never mentioned such a costly option until the last minute and didn't give me time to think. They continued persuading me into believing that buying THEIR warranty was absolutely beneficial, but I was not convinced and looked extremely upset (I indeed was for good reasons). They finally gave up their attempt and allowed me to drop the option by redoing paperwork. My upfront payment dropped from $10,000 to $7,500.

    So at the end of the day, I could barely avoid the rip-off. However, the fact that they tried to take advantage of me remains and it really pisses me off. I will never come back to this dealer again. If you are an auto dealer practicing the same SCAM, you better understand that you are actually losing business at the expense of easy money. This dealer just lost their possible future business with me and potential others as well.

  16. OK, and when they surveyed Chrysler and Jaguar owners about their extended warranty experience, they said what? I'll BET it's a different story!

  17. Unless you're willing to pay up thousands of dollars for like an 8 year 200k warranty around the time when a car has a major break down then it's usually worth it, especially if it's a german car or a chrysler lol 

  18. Also, remember you can always get a refund on your extended warranties including Gap insurance. I found out if you have sold your car or if it was totaled, you can get a prorated refund. I checked my refund status for free at http://www.mywarrantyrefund.com and they canceled everything for me. Don't forget to cancel it like I did because the longer you wait, the less you get.

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