Extended warranty. What are your thoughts
My 2017 Ford dually 350 truck has 12,000 miles on it. Thinking of buying an extended warranty????? I was picking up a B&W hitch I purchase at supply shop just after I purchased the Ford and ran into a...
Forum Discussion
It is all about your tolerance for risk. Extended warranties are simply a form of an insurance policy.
Extended warranty companies are businesses, and they intend to make money, which means they must charge you more for the warranty coverage they offer than it will cost them to sell, administer, and pay claims on average. If they don't cover these costs, they will go out of business, and your extended warranty will cease.
My thoughts are if an unexpected 2k repair bill will decimate your personal finances buying a new car is probably not the best move. For some, the piece of mind of not being potentially exposed to an unexpected repair bill for a set period of time is worth the up front cost of the warranty.
To each their own. Best of luck with your decision.
Extended warranty companies are businesses, and they intend to make money, which means they must charge you more for the warranty coverage they offer than it will cost them to sell, administer, and pay claims on average. If they don't cover these costs, they will go out of business, and your extended warranty will cease.
My thoughts are if an unexpected 2k repair bill will decimate your personal finances buying a new car is probably not the best move. For some, the piece of mind of not being potentially exposed to an unexpected repair bill for a set period of time is worth the up front cost of the warranty.
To each their own. Best of luck with your decision.
