I’ve never bought an extended warranty and never intend to buy one. I figure that’s saved me hundreds, probably thousands, of dollars over the past fifty years.
I never bought one in my 66 years of life. Until this year when I bought a giant rolling new computer-a new car that is helluva lot smarter than I am. Even though it has a strong warranty the electronics are not covered past 3 years and I intend to keep the car long term. So I shopped around, negotiated and bought one.
Extended warranty discussions usually elicit strong opinions on both sides. It’s a risk/cost thing. The risk of repair cost vs the cost to buy it. These warranties are simply a form of insurance, and in the end, most buyers would have been better off without it. The same is true for homeowners, life and auto insurance. Statistically, we’d be better off without it, yet most of us buy it anyway. For what it’s worth, I’ll share three bits of advice: (1) If purchasing an extended warranty gives you peace, and you’ve got the money, buy it. There are much worse ways to spend your money than buying peace of mind. (2) Buy it from the manufacturer, or for a vehicle, either from the manufacturer or from a third-party recommended by your mechanic who will know the good ones from the bad ones (3) Lastly, for some brands of vehicles, you don’t have to the buy the manufacturer’s warranty from the same dealer that sold you the car. You can buy from any dealer, even one 2000 miles away. Shop around. This can save you big $$$ as some dealers over-charge greatly.
I usually don’t go for extended warranties, but I did buy one on a vehicle I knew I would be putting miles on far in excess of normal miles. It worked for me in this case.
I’ve never bought an extended warranty and never intend to buy one. I figure that’s saved me hundreds, probably thousands, of dollars over the past fifty years.
NEVER. Most credit cards extend the manufacturer warranty up to one year longer (typically double what is stated up to 1 year.)
I never bought one in my 66 years of life. Until this year when I bought a giant rolling new computer-a new car that is helluva lot smarter than I am. Even though it has a strong warranty the electronics are not covered past 3 years and I intend to keep the car long term. So I shopped around, negotiated and bought one.
Extended warranty discussions usually elicit strong opinions on both sides. It’s a risk/cost thing. The risk of repair cost vs the cost to buy it. These warranties are simply a form of insurance, and in the end, most buyers would have been better off without it. The same is true for homeowners, life and auto insurance. Statistically, we’d be better off without it, yet most of us buy it anyway. For what it’s worth, I’ll share three bits of advice:
(1) If purchasing an extended warranty gives you peace, and you’ve got the money, buy it. There are much worse ways to spend your money than buying peace of mind.
(2) Buy it from the manufacturer, or for a vehicle, either from the manufacturer or from a third-party recommended by your mechanic who will know the good ones from the bad ones
(3) Lastly, for some brands of vehicles, you don’t have to the buy the manufacturer’s warranty from the same dealer that sold you the car. You can buy from any dealer, even one 2000 miles away. Shop around. This can save you big $$$ as some dealers over-charge greatly.
I usually don’t go for extended warranties, but I did buy one on a vehicle I knew I would be putting miles on far in excess of normal miles. It worked for me in this case.