Home Car Review Don’t Bother Buying Extended Car Warranties | Consumer Reports

Don’t Bother Buying Extended Car Warranties | Consumer Reports


You may be asked to buy one at the dealer, but a Consumer Reports survey found 55 percent of owners who purchased an extended warranty hadn’t used it for repairs.

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  1. I believe you can cancel and get refunded on whatever it is left of that insurance at the dealership you bought the vehicle from. Well, I have in the past.

  2. I bought one and I'm glad I did It's better to have It and don't need It than to need It and don't have It

  3. With the release of this video, will you not be releasing a video to say what brands have the best warranties? For instance, I bought one for my Kia and it covers everything electrical and mechanical for 10 years. I know that's quite a bit longer than the standard extended warranty but it would've been helpful when my Toyotas fuel pump went out on the fourth year costing me $1,000 alone.

  4. One more thing from me: if you do buy their package, your car needs to be maintained by dealer or your package is void. All your service must done by license shop.

  5. I have a 2011 Hyundai Sonata and paid $1367 for the bumper to bumper extended warranty. It's paid for itself in the year we have had it. Bought the car with 48k miles it now has 67k. It's been all stupid stuff mostly. Sunroof had to be replaced, headliner, parts of the suspension, the electronic power steering module, and a few other odds and ends. The Sonata has pretty good reliability ratings, I'll keep the extended warranty. To me, at least, it's worth the piece of mind.

  6. What % of people use their health insurance or car insurance for accidents? 10%? 5%? Then you say consider buying it on less reliable models? You guys should change your misleading title.

  7. Wait until your A/C compressor dies 1 week after the original warranty
    expires. Then you'll be wishing you bought the extended warranty. As
    the old saying goes, "better to have and not need then to need and not

  8. Good advice but here's the thing… From my experience the dealer doesn't usually try to sell you the extended warranties. They try to slip it in the final price of the car.

  9. I like how they slightly changed their recommendation about these contracts. For cars that are unreliable, they do recommend them. I have a corollary for that – for cars that are generally reliable but are in their first year of production, they should also be considered. I owned a 2001 Acura TL and a 2003 Honda Accord V6 – both in the first year of their production with a 5 speed transmission. I did not buy a warranty on the Acura, but lost the transmission at 60,000 miles. I bought it for the Honda Accord, and it needed a new transmission at 40,000 miles. Both were covered as Honda had a recall on the Acura, but it taught me not to take chances on a first year car – or to get a warranty even on a "reliable" brand.

  10. I absolutely agree these products generally don't pay for themselves are overpriced high-margin money grabs by dealership F&I departments, if you did purchase one and don't use it, by law in many states you are due a refund for unused time and mileage when you trade or sell the vehicle, be sure to pursue this if you have one already

  11. A small but, i believe, important point: one cannot buy a warranty. Definition of warranty: a written guarantee given to the purchaser of a new appliance, automobile, or other item by the manufacturer or dealer, usually specifying that the manufacturer will make any repairs or replace defective parts free of charge for a stated period of time.
    The manufacturer provides a warranty with the car but any coverage bought for problems that come after the warranty expires is called a service contract.
    Just because most people call it a warranty doesn't make it one.

  12. Well, the extended warranty saved my ass on my 2012 Charger RT. The engine failed not once but twice right after the manufacturer warranty expired! Eventually, I got a new engine installed in a 4 year old car at zero cost thanks to the extended warranty.
    But then again, Dodge is at the bottom of the reliability ratings…

  13. I own a 2013 BMW 535i xDrive with an extended warranty. If you can negotiate with the warranty company it can be worthwhile. I have a 0 deductible warranty with loaner car reimbursement. Almost has paid for itself within a year of ownership and will likely pay for itself very soon as I am nearing 70k miles

  14. I'll buy extended warranty with all my cars. Piece of mind vs forking over 1000s at time for one repair

  15. Considering things like infotainment and backup cameras are rarely even covered for the full bumper to bumper time period, sorry, this is bad advice. It was $800 to replace my Subaru head unit from '08 (died after 4 years) and it doesn't even have a touchscreen!

  16. You can haggle over the price of the extended warranty just like everything else in the purchase transaction of a new car. If you can get a deal on the price of the warranty then why not take it.

  17. Most basic 4 cylinder Japanese cars you are wasting your money on an extended warranty. Most of mine have gone 300,000 miles without a major repair. For any German car if you plan to keep the car after its factory warranty expires purchase a full extended warranty, not until your factory warranty is almost up. If you have the time you can shop different dealers for the best price. Only use the manufacture warranty. One exception is Gieco. I have used them and they work fantastic for only a small fee per month ….. unfortunately you can only get it when the car is new. So they are using your money interest free until the factory warranty is up and you have a problem. For American cars putting aside a little money every month for when mechanical problems works for me. I have had very old school cheap and easy to repair American cars.

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