car warranties?

Question

is it worth having a parts and labour warranty on a 4 year old car. keep getting pestered to take one out by dealer. has anybody found them to be useful/cost effective?

Answer 1

Iv'e found in the past that servicing under a warranty is very expensive,get breakdown cover and have your car serviced at a good garage

Answer 2

Well, warranties are never guaranteed cost effective. What you are are basically doing is betting that the car will screw up in X amount of time and need repairs. If you are right, then you "win" covered repairs that may cost much more than the price you paid for the warranty. If you "lose" by never having to use it then you lost a couple of grand or so by insuring it, but even then, you don't really lose, because you've more tha likely bought a well-made car.

I personally would go for it, because I'm the 'better be safe than sorry' type. Especially useful when it turns out to be things like electrical problems that can't be easily fixed on one's own.

Answer 3

Sometimes. A relative of mine bought a used BMW. He paid over $2,000 for the extended warranty. The radiator failed within a year, cost to replace was over $1,200. The transmission failed less than one year later. Cost to repair: $3,000. The dealer, who was a friend of his, persuaded him to get rid of the car and buy a new one.
Would I buy an extended warranty? No. I am a retired claims adjuster and do not believe they are cost effective, despite the above example.

Answer 4

read the fine print what i found was you are very limited as to what is under warranty.
for eg: usually the automatic transmition wont be covered.
You will only be covered up to a certain amount of money which is usually not enough to repair the problem.
and you will have to pay much higher prices getting the car serviced at the car dealer you bought it from other than a mechanic of your choice.
What im saying is nothings for free so good luck hope i helped.

Answer 5

It is worth having but do a search on the Internet because dealers charge much more than the same policies you can get on line.Try
www.warrantydirect.co.uk
or just put car warranties in your search thingy!!!

Answer 6

NO, never buy one of these extra warranty things, they are just money makers for the dealer like rustproofing, vinyl protector and all that other crap they push, however if your car breaks and its not covered by the regular warranty then I was wrong, seriously they are a bunch of crap

Answer 7

they always get out of paying in some way or another - I would go through the small print first and make sure exactly what you are covered for.

Answer 8

they are ok but read the small print to see what is covered and what is not