Extended warranties are they worth the cost
Yes another question and I know the dealership will try and sell. Basic warranty is for 1 yr. is it worth the money and what is a reasonable charge. Thanks
Forum Discussion
"extended" warranties? Buyer be aware.
Generally and strictly from the money aspect, no, not worth it.
Extended Warranties often are nothing more than a "prepayment" up front to get things repaired. The warranty company (and the selling dealer)are hedging their bets that they will NEVER, EVER see your angry face when it is broken to get it repaired grace their show room floor. And if you never have a claim then they made tons of profit off of you.
Keep in mind that warranties are only as good as the insurance company and the dealer, often times the dealer or insurance company goes out of business, sells off to another owner (claiming your extended warranty was only valid until the change of ownership) or just flat out refuses to honor any parts of the extended warranty.
Read and understand every word on the contract BEFORE signing your hard earned money away. Know every aspect and angle in the wording, if you don't understand, don't sign and ask for clarification.
In the end it is your money and your decision to make, chose wisely.
Generally and strictly from the money aspect, no, not worth it.
Extended Warranties often are nothing more than a "prepayment" up front to get things repaired. The warranty company (and the selling dealer)are hedging their bets that they will NEVER, EVER see your angry face when it is broken to get it repaired grace their show room floor. And if you never have a claim then they made tons of profit off of you.
Keep in mind that warranties are only as good as the insurance company and the dealer, often times the dealer or insurance company goes out of business, sells off to another owner (claiming your extended warranty was only valid until the change of ownership) or just flat out refuses to honor any parts of the extended warranty.
Read and understand every word on the contract BEFORE signing your hard earned money away. Know every aspect and angle in the wording, if you don't understand, don't sign and ask for clarification.
In the end it is your money and your decision to make, chose wisely.
