New Car Warranty Question

[ivinsfan]

Well, I guess we can differ on that. If the OP can afford a new car, then he can afford the very small risk of a large repair expense during the last 5 years of ownership.

Absolutely true. In the same sense that a lottery ticket can be a good value. If you win.

Exactly. The odds are significantly against the buyers but some do win.

I don't buy lottery tickets either.

What a silly comparison...OS do u know that even a smallish issue can cover the cost of your warranty. If someone wants to take a calculated risk and preset any repair costs on a car that's their choice. It's not always about "affording" But I think this issue ranks right up there with should I pay off my mortgage... people can buy or not buy..

 

[ivinsfan]

Wouldn't someone who didn't buy a warranty have a vested interest in doing all the silly recommendations for service..ounce of prevention and all

 

[street]

I would pass on the extended coverage.

 

[isisdave]

I probably wouldn't buy one because (a) it's a Subaru and (b) low mileage, which means (c) your warranty will run out because of time, not miles.

The other thing people might consider is that it's a hedge against disability or unemployment -- i.e. you can afford a warranty today, but a $1500 repair three years from now might be a bummer.

We got it for the diesel F-250 because ANYTHING costs at least $600 to fix, and we'll keep it at least until the warranty expires in 2027.

 

[MichealKnight]

Do you plan on keeping the car that long? If you're a low mileage driver.

$2300 seems light vis a vis retail price -- is deductible manageable AND AND AND is it med level coverage - OR does its specifically cover the 'good stuff' expensive stuff.

****Who is the warranty company? Is it from the OEM? If 3rd party - are you happy with their finances.********. (NON-OEM warranties are higher profit margins - and cheaper retail price. Some are fine - others should be scrutinized on coverage and solvency)

If it were me - if I was gonna keep the car that long, AND it covered the good stuff, AND it was from a true mainstream provider - - and the new car was slightly above mid-range price....yeah, I would.

Oh wait I just saw you drive 5k miles per year. I'm sure you researched the car (Subaru - means someone has done research - lol don't ask me how but trust me I know this 100% as fact). If there's no glaring problems - then - its a coin flip. If I could afford an unexpected repair - no extend. If a $3k repair stresses my finances - then yes extend.

 

[MichealKnight]

Money-Back-Guarantee

Just in case someone stumbles upon this thread in the future as they research the same kind of purchase.

At times - a 'money back guarantee' is offered. Let's say someone buys an 8 year/80k warranty - and there's NO repair needed ever. So for those worried that they'll never use the warranty (hopefully they aren't itching to use their life insurance but I digress .......at times they feel glad they'll get all their warranty money back. If that's being offered - put little stock in it and don't let that be the deciding factor.

*MANY of the companies underwriting that have gone away in the past.

*If the Dealership sells to another owner - he's got *zilch* liability or obligation for it.

*Oh and if you don't keep the car for the entire extended warranty period - no - no money back.

 

[ivinsfan]

MK we had an extended warranty made one claim so were at even. Ended with time and miles left when we sold the car. One piece of paperwork and we had a check for unused warranty period

 

[ivinsfan]

Do you plan on keeping the car that long? If you're a low mileage driver.

$2300 seems light vis a vis retail price -- is deductible manageable AND AND AND is it med level coverage - OR does its specifically cover the 'good stuff' expensive stuff.

****Who is the warranty company? Is it from the OEM? If 3rd party - are you happy with their finances.********. (NON-OEM warranties are higher profit margins - and cheaper retail price. Some are fine - others should be scrutinized on coverage and solvency)

If it were me - if I was gonna keep the car that long, AND it covered the good stuff, AND it was from a true mainstream provider - - and the new car was slightly above mid-range price....yeah, I would.

Oh wait I just saw you drive 5k miles per year. I'm sure you researched the car (Subaru - means someone has done research - lol don't ask me how but trust me I know this 100% as fact). If there's no glaring problems - then - its a coin flip. If I could afford an unexpected repair - no extend. If a $3k repair stresses my finances - then yes extend.

Thing about buying online is they will give you multiple options combining miles and years covered....so you could buy an 8 year 40 to warranty for less money. For example our new Ford at 2 years has considerably less miles then normal for us because of Covid....if/when we buy a Ford EW we can actually parlay some of our unused 36 in a cheaper mile and year warranty . So OP should some online quotes if they are still interested...

 

[ncbill]

It is a Subaru Forrester, I do not work on the car myself. Less than 5000 miles a year and probably will keep for at least eight years.

If the $2300 is for a Subaru OEM warranty (not 3rd party) with a low deductible ($100 or less) and covers bumper-to-bumper like the factory warranty (i.e. not just powertrain) I'd buy it.

Since in my experience the full-time AWD on my Subaru has meant more wear-and-tear to the driveline than with my FWD-only vehicles...e.g. more frequent CV joint replacements & wheel bearing assembly replacements.

 

[youbet]

There is no way buyers collectively come out ahead.

Isn't that pretty much the way all insurance works?

I'm not a fan of automotive extended warranties in general.