Quote:
quote:Originally posted by nozzano22
it is just like insurance, if you need it you are glad to have it, if you don't use it you wonder why you have it.
Bottom line, the warranty companies make money. They spread the risk of many individuals across a large group.
At the moment I bought my car I bought the Chrysler extended warranty. The next week I went back and cancelled it for a complete refund.
The way I look at it, I have a 3yr/36k warranty, I can pocket the $1250 for the warranty, earn interest over the first 3 years I have the factory warranty (or save interest on the loan) and then pay for repairs as I need them.
My 7 year old Ford truck just blew a head gasket and the repairs were $1200. I would hope nothing more serious would happen to my PT, but I will take my chances and pay as I go.
Mike
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Any car you intend to keep long term the extended warranty is a good deal. I have put one on every car I have bought in the last 20 years and I HAVE made out on the plus side on every one. The problem is trying to go for the really long term ones. If you look at the cost for 100 k term it cost way too much.I have the 6 year 60 K 0 deductible and it cost me $ 1075. witch I'll almost surely make that back in the 3 years / 30 k that I still have left. Based on the things I have had go bad so far I'm really glad I have it.