Extended Warranty Question

My view has always been that if an extended warranty is required for piece of mind, it is time for another vehicle. As others have posted, pay yourself the extended warranty premium and you will most likely find out that you have a nice deposit on your next vehicle rather than having depleted that premium on repairs you paid yourself. You know warranty companies base their premiums on claims and overhead yet they are not going out of business due to too much outlay verses income...

Was the salesman able to hold a straight face when he told you that? The truck is 6 model years old. I have at times bought an extended warranty, when the Duramax first came out in 01, I bought a 3500 DRW and since everything was all new, I felt that an extended warranty might be a good idea. I kept that truck for 5 model years and just before I traded it at 100K, I lost the computer and that all most to the dollar got all my money back on the warranty ($1,800). Up until then, I did not. I think putting money aside for repairs, hold like 5K in a repair account and you should cover anything but something catastrophic like losing the engine, which is not likely would be a better use of money.

Just pay for repairs as necessary. You'll take a hit here and there but on average it should work out in your favor versus spending that kind of money on a warranty. As far as I know there are no major ticking time bombs on that vintage Ram CTD.

Buying a new truck to replace a 2013 just to get a warranty is financially stupid barring a lemon situation, imo.

Put $500 aside each month for three years, and what you then have available becomes a nice down payment on a new truck three years from now.

Am I understanding your figure right? 3 year total cost would be $24,300.00? If so, unless I could find it substantially cheaper somewhere other than the dealer you are talking with, I'd be hard pressed to not just pay myself into a separate account for vehicle repair and just pay repairs out of pocket. While you hear about vehicles with very costly repair bills, in the overall scheme of things, these are a small number of overall vehicles. Odds are pretty good that you will end up with an account with a decent sum of money in it to use towards another vehicle when that time comes. Have you had any significant problems with the truck to date?

You can often beat the dealers price by about half by shopping online for the exact same factory extended warranty.

jfritz_drfritz wrote:
Pay for repairs or buy a new truck with warranty

Buy a new truck, take on 3 yrs more of payments to get a warranty? Sound Idea for some but not this guy. Has to be better alternative from a warranty company and I am hoping someone knows of one to call.

Look at the Zeigler site or give them a call. They are considered one of the best places to get legitimate factory warranties from.

Pay for repairs or buy a new truck with warranty