Extended warranties are bad, right?
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Anonymous
| Are extended warranties really always a bad deal? I just bought at 2018 car, has low milage, with it is not new of course, it is basically 5 years old. Instead of having the warranty, should I just keep money set aside for repairs? The dealerships always scare you with "repairs of the electronic elements in the car will cost a lot of money so you should get the warranty". |
Anonymous
help 
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Anonymous
| Typically. What model? |
Anonymous
| I had lifetime warranty on my minivan. Paid for itself over and over. Have one on my current vehicle but haven’t had to use it. I keep my vehicles until they die so I expect to use it at some point. |
Anonymous
| I rarely buy cars new. And if I do, I don’t get extended warranties. But when buying used, I often look for “certified pre-owned” or some such designation. This generally means buying used from a new car dealer. This designation comes with an extended warranty. I have found that different dealers (of the same brand) appear to charge different premiums for this designation. So I look at the ones that charge less. |
Anonymous
| Yes |
Anonymous
| (OP) I got a certified used Honda with 1/yr or 12k bumper to bumper and 7/yr or 100k powertrain. Should I buy the additional warranty given electronics? |
Anonymous
how much are they asking? I'd say no. |
Anonymous
CRV |
Anonymous
3.5k |
Anonymous
No way |
Anonymous
|
They're bad. It's a pain to get htem to cover an item.
Also think of it this way: the dealer is basically saying: Our cars are such garbage that they're going to break a lot, so you better have a warranty. |
Anonymous
+1 We bought one for a BMW that paid for itself twice (kept it for 11 years) but no way on a Honda. |
Anonymous
| Ours rolled service into the warranty. We’re in year 3 and will end up coming out on top, but not by much. We viewed is as purchasing service upfront at a slight discount with a warranty tacked on. |
Anonymous
no way, no way. |