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Aftermarket extended auto warranties

Discussion in 'General Discussion' started by saddlebum, May 19, 2017.

  1. saddlebum

    saddlebum Sharpshooter

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    Are any of these any good? Anyone have experience with them? Wife is wanting to get one on her '14 jeep wrangler ,but I have no clue if they are worth the money
     
  2. emapples

    emapples Sharpshooter

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    Depends on the company providing them and the dealership, I've driven Toyota for years and have never really had to use them as it's year 10 or 12 before I have any issues (except batteries )
     
    Last edited: May 19, 2017
  3. John6185

    John6185 Sharpshooter

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    If the auto was a terrible design and prone to breakdowns they wouldn't sell an additional warranty, there wouldn't be any money in it for them. On the other hand, if the car as a good record and reliability, they make a clear profit. Like emailed said, "I've driven a Toyota for years..."
    Some cars are more reliable, check out the reviews before you buy an extended warranty.
     
  4. soonersfan

    soonersfan Sharpshooter

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    I bought a 2011 altima with 30k for my daughter recently. I knew it was a lease vehicle at one point but after owning it for a couple weeks I started having greater concerns about how well the car had been maintained. So, I started looking for aftermarket warranties as an insurance policy against anything catastrophic. Almost universally, there were horror stories from customers about their cars being tied up for extended periods for repair, covered repairs being denied or just plain piss poor customer service. We've had the car a few months now. I've had it thoroughly checked by a competent mechanic and I feel more
    comfortable with its reliability going forward. I decided to save my money and walk away from the warranty. Even if I had doubts about the reliability, I probably would have still walked away based on the reviews.
     
  5. emapples

    emapples Sharpshooter

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    The warranty really depends on the warranty company and to great extent the dealership, Jim Norton Toyota offers a lifetime warranty on the engines I believe. So this means the warranty company makes a serious chunk of change from the dealership based on that alone, and the dealership had serious leverage to make sure the warranty plan is exactly what they say it will be. Obviously they want you as a repeat customer and if you are pissed because the warranty was ******** then you won't be back, if you are trying to get one after the fact from q 3rd party then I would not bother those are the place that's screw you arround.

    I had three 4Runners 1986, 2014, 2016 (sold the 86) and have two Tacoma's 1996 and 1998, the 04 has needed a battery in 6 years and a transfer case re-sealed, so about 350 bucks in 6 years, the 1996 and 1998 need a little more rear like rear seals and clutches but they require less that 1000 a year in repairs ( and the boys drive the shit out of them). I ended up with Toyota because of my years with Chevy, Pontiac, Ford, Volkswagen, etc.....Toyotas just seemed to work every time I turn the key and the occasion the occasion this didn't happen it was a 5 year old battery replaced it and started it and 3 years later still starting. So I am sold on Toyota reliability and the low priority need to have a warranty as a result. That being said I am taking a really hard look at that new Titan XD, it definitely gives me serious man nips ..........
     
  6. tRidiot

    tRidiot Sharpshooter

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    There's a reason the sales staff high-five each other when they sell aftermarket warranties.
     
  7. Okiedog

    Okiedog Sharpshooter

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    I bought a vehicle once that had an extended warranty. Never had to use it. Now I'm getting 3-4 phone calls a day from folks trying to sell me another one. I think they are scammers since they want a CC inorder to start the paperwork. Not gonna happen.
     
  8. NikatKimber

    NikatKimber Moderator Staff Member Moderator

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    I have only had a warranty on one car. It paid for itself when the torque converter went out. So it was a net zero.

    To me it would depend on if you could afford to pay for a major repair, and if the car was necessary.
     
  9. MikieG7174

    MikieG7174 Sharpshooter

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    I look at it like this. The car MIGHT break down. It MIGHT cost you.
    If you buy the warrantee, it DID cost you.
    I have looked at it like this for insurrance as well.
    In 46 years, i am waaaay ahead money wise because of it.
    Like someone said earlier, these policies are profitable. If not, why would they be offered?
    Folks are usually smart about casinoes. They understand the odds and keep their money. Warranties and insurrance policies are EXACTLY like the casino odds.
     
  10. soonersfan

    soonersfan Sharpshooter

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    This is actually not true at all. State Farm has a net loss on insurance in OK for the last 10 years. They are actually ok with breaking even on premiums. The money they get from premiums is invested in different ways and that is where their profit comes from. Certain types of insurance and probably most warranty programs for sure are profit generators but that is not the case with all insurance.
     

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