What are your views on extended warranties on cars?

Update:

they are advertised on television daily. thank you.

14 Answers

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  • 3 weeks ago
    Best answer

    Generally, a waste of good money, especially if purchased from a dealer. Might be worth it if purchased from the actual provider AND you fully understand what it covers (and particularly what it DOES NOT cover). 

    In most cases, it's better to simply put the money into a bank account to use only for car repairs. Then, if you never need it, guess who still has their money?

  • k w
    Lv 7
    3 weeks ago

    mostly a waste of money

  • F
    Lv 6
    3 weeks ago

    They tend to have loads of exclusions. better to put some money aside each month instead. if you car doesnlt break, you'll still have the money.

  • 3 weeks ago

    Waste of money. Period! Foolishly paid for a few over the years and only use one once and that was a lucky shot that the failed part was covered.

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  • 3 weeks ago

    A waste of cash, as is most extended warranties. You're basically paying for warranty (paying for the repairs) when it should come with the product--as part of the original price.

  • 3 weeks ago

    Waste of money. Here’s my belief. If a company keeps pushing you to buy something then it’s not worth it. Think about it. If they’re going to lose money, they’re not going to sell it to you. If they’ll make money, they’ll sell it. So odds are that you will never use it because either you’ll pass the mileage or there’s something that prevents you from using it. 

  • Lisa A
    Lv 7
    3 weeks ago

    A complete rip off.

  • John
    Lv 7
    3 weeks ago

    If you buy a high quality item, no warranty is needed.

  • Bill
    Lv 6
    3 weeks ago

    not worth the paper they are written on

    most say that you have to get the car back to the issuing dealer, have so many loop holes and only cover the block the transmission case and you pay for all labor costs

  • .
    Lv 7
    3 weeks ago

    On a new or newer car, they look like a good deal -- a couple thousand dollars to extend coverage until 100K.  But my wife and I have never actually needed to use the extended warranty.  So all we got was peace of mind.

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