Extended warranty...??

[BORICUA]

I just purchased an extended warranty for my PT and just want to hear the opinions from the people here and if it was a good move or do you think i didn't need it.

the coverage is for 6 years/100,000
with a 50 dollars deductible and it covers pretty much everything not maint. related.
The price was $1488.00
and it includes roadside assistance
Here is the link to it...

http://www.continentalwarranty.com/gan/index.htm

and here is the BBB reliability report for this company..
http://www.labbb.org/scripts/cgiip.e...ID=2&hAddrID=2

Fire away[8)]

[bigdogdad]

They main problems that I have heard about the extended warrenties is, will they still be in business when you need them. Hey, just related what I have read and heard. Most people say its best to go with the factory. Mind you, alot of people have done fine with outside vendors.

[CREWZIN]

I had one for awhile. Covered something like yours up to 100,000 miles. They even paid one claim for a new Power Steering Pump and I only had to pay the $50 deductible. About 3 months ago, I got a letter saying they were going out of business for anyone who bought their warranty coverage before a certain date (including me). Funny thing is that they are still covering newer policies. [:I]

I joined a class action suit to get some of my money back from the bond that was put up by the company but the last time I looked at the list of people in the suit, I was number 3,145 out of over 10,000 people. I might get about $2.00 back []

It was a good company called Warranty Gold. Good write-up and references and even sponsored a NASCAR vehicle for awhile.

[Grouch]

Take it from and old Service Manager cancel it and get your money back. These aftermarket companies are bad news. Believe me when I tell you if it sounds too good it most likely won't be there when you need it. The ONLY extended warranty that is worth the paper it's printed on is one of the Chrysler plans. Here is a dealer that sell them online.

http://www.extended-warranty-pro.com/index.html

[Paw]

I purchased one from the Chrysler dealer 6 mths after buying the car. I think it is the 717 Plan, paid $1800cdn with discount and $145 surcharge because it is a turbo. It equals to 7/115Km bumper to bumper with $0 deductible. A good mechanic friend of mine told me to get it because it will paid for itself. He is a Chrysler Tech and been with them for over 20yrs.

[SRG]

In August of 02 I bought a Limited Edition PT. It came with a 3 year, 36,000 mile bumper to bumper warranty, and the 7 year, 70,000 mile powertrain warranty.

I paid $800 to extend the bumper to bumper warranty to 6 years or 60,000 miles. It has a $100 deductible per visit.

At 49,000 miles I've had the car in for one extended warranty repair trip. The rear torsion bar links had to be replaced and the 2 front door checks. The Chrysler dealer bill total: $170. So I paid $100 and by spending $800 when I bought the car I have now saved $70. Will I even come close to "come ahead" in the last 10,000 miles of my extended warranty? I doubt it.

But, you say, I have piece of mind, in case something goes wrong.... well, the most likely problems I would have now are with the engine and transmission, but the extended warranty doesn't apply to them because they are covered by the powertrain warranty. What else can go wrong or break that will be coveded by the extended warranty? About the biggest wearable thing I can think of is the suspension, brakes and rotors aren't, and the clutch(if you have one) isn't.

If you have any body or electrical problems, you would have probably found them out in the first 3 years or 36,000 miles. So, as the bean counters for Chrysler know, Chrysler will probably be keeping most of that $800 dollars I paid. We must all realize that they sell extended warranties to MAKE money. Yes, occasionally, an extended warranty will pay for itself, probably if you managed to get a $0 deductible, even then it's not a sure thing. (Anyone out there get a $0 deductible from Chrysler??, I have no idea.)

About 3rd party extended warranties, when I went to schedule an appointment for my repairs, the Service Advisor was very negative about the whole thing, saying things like, "if the exact part is not listed in the agreement, it's not going to be covered". I finally realized the reason, she thought I had another company's warranty. This 5-star Chrysler dealership only sells an outside company's warranty. I didn't know a dealer could get away with that, and the service advisor thought I bought the car there, (I didn't) All I've ever heard about these outside warranties, is that they are quick to bill you, and very slow to pay....anything. And that is also if they haven't gone under yet.

SRG

[umaxman]

My 02 PT had the extended warranty on it when I bought it...7/100,000.bumper to bumper
Had new tie rod ends and ball joints and steering rack replaced all with zero deductible glad I had the warranty. I had it in for a small squeak in the front end, plus the rubber was ripped on the ball joint.

[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

[Grouch]

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

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.

[kennybopaloo]

Poppi, you did the right thing Homz..............