Extended Vehicle Warranty?

The only issues the vehicle has had is a U-joint and the dash quit working, all gauges stopped functioning. And, when that happened the vehicle would not restart. Towed to dealer. Dealer never found the problem and the problem has not returned in the 6 months since it happened. Electrical problems suck! I plan on keeping the truck for another 3-5 years. Will be taking a 4K-6K trip this year and want a sense of security.

Thanx for the replies. Will need to do some homework, some thinking on cost, and make an informed decision.

I too looked into the extended warranty. The first problem was the cost$4000. Then I found out who the real underwriting company is, not just the company selling you the policy. I then did a search through BBB and other services. I found out that the parent underwriting company had thousands of complains against then. Deal done. NO EXTENDED warranty

To decide if you should buy another extended warranty, answer these questions:
1. How much did the last warranty cost?
2. How much did the last warranty pay on any claims?
3. If #1 is greater than #2, then do not buy another warranty.
4. If #2 is greater than #1, then buy another warranty.

It is good to remember that people selling things do so in hopes of making a profit.

That means that their experience indicates that you will pay more for the insurance than it will cost them, or benefit you.

I only insure things which I can't afford to lose, or which lenders or governments require me to insure.

Those big insurance outfits didn't build skyscrapers in every city by losing money. :)

Just a thought.

Joe

BugsRLB wrote:
We have a 2008 Chevy 2500HD Ally/D-Max with 53K miles. As you can see by the mileage, we don't use it too much!
It has an extended warranty now (through GM), that expires 3/15 or 56K miles.
We are looking at getting another extended warranty and am looking for info.
Should I get one, an extended warranty?
Looking at going with Universal Underwriter or Rt 66. My Chevy dealer states that the have good luck with those two paying claims.

:h

How long do you plan on keeping it? Have you had any indications a major item may be about to have a problem?

Can you take the same money required to purchase the extended warranty and set it aside for future need, adding to it every now and then?

On edit: If you are still making payments this may not work, but if you have just paid it off, can you put aside the monthly payment you were making to save for future repairs?

My son has a 2006 that he has put 120,000 miles on and has spent less than $1,000 on repairs. He has been able to perform all the repairs. Two front hubs, two glow plugs, and one ABS wheel sensor.

How much do they want for the warranty? Have you had any issues (other than normal maintenance) with the truck to date? Have you had it serviced regularly? Can you afford to 1) put the premium you would pay for the warranty in a bank account and leave it alone, and 2) Pay (including the save money)to have your truck repaired IF something happens??? And will you sleep better if you shell out for the policy?

The last question is the most important!