^True story.
And a big consideration is a factory backed warranty vs an aftermarket "insurance policy."
Newer vehicle, optional Factory extended warranty, yes it costs some $ but you know what your getting and regardless of your experience with dealer service departments, it's an extension of some or all of the original warranty.
Aftermarket policies, often targeted towards vehicles that are past the limits of any factory warranty or extended warranty should give a person a cause for pause to think about what they are really getting. I.E. Do you think a vehicle that has no business being warrantied anymore will benefit your pocketbook by having someone cover the risk of mechanical failure? The answer is you're playing a game with much higher odds that you lose. Because no one is "giving" you anything.
If you amortize the financial risk vs reward of owning an older vehicle and the cost of repairs, it's likely over time, with a few prudent decisions along the way that you'll come out ahead paying out of pocket.
It's hard to apply this to a one time purchase as you're not spreading the odds, and many people look at it with nearsighted glasses and that's why these companies exist and make money.
Of course if you do t have the "time" to amortize out the costs and savings, the decision gets more difficult.
I've been "playing the odds" with warranties and insurance on items not required to be covered by insurance since I was 16, and 32 years later, I'm certain I'm well ahead of the game overall by buying used with no warranty and not carrying insurance on "toys" like trailers, sleds, dirtbikes etc.
Difference is I perform the vast majority of my own repairs on anything, anytime. But even if I didn't, I beleive I still would be ahead just with judicious selection of what I purchase.
