Different thoughts on new car ownership

[folivier]

We bought a new 2023 Buick Enclave last year and really like it. Our 2011 Tahoe was still in very good condition but it was starting to have intermittent electronic issues. You know the kind that the dealer can't figure out and just wants to start replacing $1000 parts and hope for the best.
The Buick has a 36k/3 year warranty. We're hoping for the best but after the warranty expires what to do? In the past I've kept cars 10 years but that's because I could work on most systems. Now you pop open the hood and just see plastic pieces covering everything. Most cars engine and transmissions are lasting longer than ever now but it's the computerized everything that's integrated that's the problem. I'm capable of changing out most things in older cars but on new cars these parts need to be re-calibrated by the dealer. Everything is proprietary now.
So we're thinking when the warranty expires either buying a fully extensive warranty (if we can find one that covers everything) or just leasing the next car. I'm 70 so the end of my driving days are on the horizon.
Thoughts?

 

[mf15]

At 76 same problem. I don't want turbos,CVT,hybrid,20" wheels,no spare tire.
I did have a 7 year Honda warranty on my 2013 Accord,never used it.

 

[street]

Is a good question and it comes down what you want to spend. Leasing and trading every three years are more expensive than fixing if not a total major job with the car.
Vehicles will last a long time after warranty if kept up and most don't put many miles on their cars anyway. Low mileage and regular maintenance I personally wouldn't trade every three years or would I lease. I suppose the frugalness is talking to me.
So, I wouldn't buy new as soon as warranty went off still to replace and have some work done than buying new.
Not sure that helped in your question but then again, we and you can afford to overspend and still be in good shape.

 

[Jerry1]

I would do the same thing you did with your last vehicle - keep it until it starts giving you problems. I think the difference when we’re older and have financial resources is that the threshold is much lower on what kind of trouble we’re willing to put up with. Of course, if you want to blow that dough, you can just lease ever three years and never be out of warranty.

Don’t forget the power train is warranted 5yr/60K miles. Personally, I’m done buying extended warranties. As few miles as I drive, they’re just not worth it. I have a 6 year 80K mile extended warranty on my truck and I’m almost through 4 years and only have 36K miles and have had no trouble at all so far.

 

[folivier]

When we bought this Buick we had to really search for one without 20" wheels, sunroof, and a few other luxury items we didn't want.
And we do keep up the maintenance but with newer cars it's difficult. You have to start pulling off all of the plastic covers to just see the serpentine belt.
Frugality is a big problem with me also. But I guess at this age we're fortunate to have enough $ to have someone else do the maintenance. But like many of us I just don't trust others as much as I do myself.
Maybe I just need to buy an older car or truck. Hey Koolau maybe you have the right idea.

 

[sturge]

It's a crapshoot either way. Endless stories of people discovering their warranty does not cover what they hoped it would.

I've always been the type to roll the dice that our car won't need a warranty if I maintain it well and take care of it. Those who choose to get a warranty are also rolling the dice that if there is a problem, it will be covered.

Do what makes you happy

 

[Car-Guy]

Even though I've worked on cars all my life, I did buy an extended warranty on my last truck. Just too many dang electronic parts that can fail and are really expensive. As Jay Leno says, gone are the days of fixing most things on a car with a hammer, screwdriver and pliers.

 

[MichaelB]

Even though I've worked on cars all my life, I did buy an extended warranty on my last truck. Just too many dang electronic parts that can fail and are really expensive. As Jay Leno says, gone are the days of fixing most things on a car with a hammer, screwdriver and pliers.

Did you buy the extended warranty when you bought the truck or did you wait until the original warranty expired? OP’s plan is to buy after the expiration of the original.

 

[Jerry1]

Did you buy the extended warranty when you bought the truck or did you wait until the original warranty expired? OP’s plan is to buy after the expiration of the original.

Yeah, you should always buy the extended warranty while the vehicle is still under the original warranty.

 

[Car-Guy]

Did you buy the extended warranty when you bought the truck or did you wait until the original warranty expired? OP’s plan is to buy after the expiration of the original.

Actually neither I bought it after I bought the truck but before the original manufactures warranty expired. IIRC I bought it when it had about 30k miles on the truck. Also, I caught a deal from a dealership on a car forum I frequent. They claim , I got it for $25 over their price.

 

[folivier]

Those who bought extended warranties were they OEM or aftermarket warranties?

 

[lakerunner]

If you have the time and can do without the car for a week or so, you can still do a lot of work on newer cars. The display screen in my son's SUV failed. The dealer wanted $2600 for the part plus another $600 to replace it. I found a used one online for under $200 and replaced it myself. But I have a car my son could borrow while I did the work.

 

[WhenIsItTime]

Aren't extended warranties a profit center for whoever is selling them?

My friend had a 2020 GM truck that had electrical gremlins dealer couldn't resolve after 4 visits. Caught fire in his garage while he and family were sleeping and burnt his entire house down. They got out alive as the house crumbled. Be careful.

I've always been frugal with cars - always owned and usually drove 8+ years. As my FI gets stronger and I get older, I am being more frivolous with vehicles - upgrading brands/models. I hate hassle of dealing with repairs. It will be nearly as painful, but I intend to start leasing for convenience. I'll try to rationalize it to myself as a blow-the-dough luxury.

 

[Car-Guy]

Those who bought extended warranties were they OEM or aftermarket warranties?

OEM for mine.

 

[marko]

We've been leasing two luxury cars for the past 30+ years.

Yes, the payback isn't there but you get more car than buying it outright and you also are getting a brand new car (and warranty) every three years complete with the latest safety features. In the end, the car is someone else's problem.

For us, it's more about the value than the cost. KISS.

 

[Car-Guy]

Aren't extended warranties a profit center for whoever is selling them?

Sure, they wouldn't sell them otherwise. It's just like any other insurance. They have to come out ahead or they wouldn't sell them. But, as an individual, if I have the misfortune of needing a $25k engine replaced, it would be well worth it.

 

[Jerry1]

Those who bought extended warranties were they OEM or aftermarket warranties?

I would only buy a manufacturer warranty. And, you have to be careful. Just because you’re at a GM dealership doesn’t mean they’re selling a GM warranty. They sell 3rd party warranties also.

 

[Car-Guy]

I would only buy a manufacturer warranty. And, you have to be careful. Just because you’re at a GM dealership doesn’t mean they’re selling a GM warranty. They sell 3rd party warranties also.

When I read "OEM", I think manufactures warranty. But I agree, check and only buy a manufactures warranty.

 

[marko]

When I read "OEM", I think manufactures warranty. But I agree, check and only buy a manufactures warranty.

Funny, just yesterday I got a letter in the mail from some outfit informing me that that the "warranty on your 2024 [car] is about to expire!!!" and I'd be financially liable for any repairs. I'd better sign up, yes?

 

[MichaelB]

We've been leasing two luxury cars for the past 30+ years.

Those 2 cars are getting kind of old, don’t you think?

 

[surprising]

You could stick with high reliability manufacturers and hold on for 10+ years. Cars are getting more and more reliable anyway and 10 years doesn't seem like a long time anymore. Nearly all my cars are over 10 years old now, two of which are over 100K miles, and no apparent issues. No oil leaks, no burning oil. Regular oil changes is key to a long lasting engine.

As for doing your own maintenance, the guts of a gas car are the same as they've always been, just a lot more electronics surrounding it. Should be able to change your own oil, replace spark plugs, replace air filter, etc. Get yourself a bluetooth OBD2 dongle and scanner app to read check engine codes. Also there are free open source apps for most car manufacturers to be able to do calibrations and other electronic maintenance yourself.

I had a Ford Flex with traffic aware cruise control that stopped working one day. Didn't work for months, finally took it in to Ford dealer and they said it needs a new radar module for a couple grand. I said no thanks. As I was getting ready to sell it, I figured I should try to fix that problem. I was able to find the technical docs on the radar module, did simple continuity to ensure the wires weren't cut (critters like to live in the engine bay). Voltage ranges also looked good. I noticed the module was not positioned correctly, pointing down instead of straight ahead, so I adjusted that. The docs said I needed to calibrate it and I found a ford diagnostic software for free that had ability to initiate the calibration. So I performed that (push a button and then drive around until it says calibration complete) and voila it was fixed. If you're so inclined, there's quite a bit you can still do yourself even though everything is computer-driven now.

 

[ivinsfan]

One point I'd like to empathize before buying an extended warranty research the price online. for OEM warranties the price competition is fierce. Also you can do lots of fine tuning as to years of coverage, mileage deductible. The variations of time/miles is almost endless. Since we aren't high mileage drivers this was valuable to us. With my DH getting older and getting sick of always fixing stuff/ (the farming end) it was just peace of mind. Another point is with inflation heating up the price of warranty and repair work will continue to rise. Since we intend to keep this car, we almost look at the warranty as an inflation hedge. This is just our point of view. On another note, independent repair shops in our area seem to be disappearing rapidly which drives up the cost of repairs.

 

[Livefree]

I sold our 2014 Subaru Forester a few months ago, and purchased a new 2025 Forester. Sold my wifes 2015 Rav 4 last year, and she got a new Subaru Crosstech. We usually keep cars at least 10 years before upgrading. This may be my last car as I'm turning 70 soon...

 

[Qs Laptop]

How many miles per year will you drive with the new Buick?

I ask because if you are only putting on 5,000 miles per year, then in 10 years you will only have 50K miles on it. I would hope that nothing major could go wrong in 50K miles, at least not with a Buick, reportedly one of the most reliable US made brands.

If you only put 50K miles on it in 10 years you would be paying the extended warranty cost for all those years where nothing as expensive as the warranty itself might crop up as a repair.

I say skip the extended warranty.

 

[Chuckanut]

The trick is to check Consumer Reports before buying a car. Then only buy a car with an above average repair record. No guarantees, but it does tilt the odds more in your favor.

IMO, extended warranties are not a good purchase. Most modern cars will go comfortably over 100,000 miles with normal maintenance.

I don’t need a warranty that extends to 100,000 or even 125,000 miles. I need an extended warranty from the car’s manufacturer that starts at 125,000 miles and goes to 250,000 miles. Yea, I know. Good luck with that.

My big issue with buying a new car is taxes. The sales tax in my area is now a bit above 10%. Worse, various local government agencies have added a big chunk of fees to the yearly car tabs. It’s all based on the value of the vehicle. These fees make up about two-thirds of my current tabs.