is an existent warranty good to get for a new car??

Answer 1

I say buying the extended warranty is probably not a wise investment, but it sort of depends. You are buying a new car so chances are you won't need any mechanical work for some time/miles. The question is how long are you going to keep this car and how hard are you going to be on your new ride. The extended warranty usually doesn't cover the car once you have driven over 100,000 miles and to my experience that is when it is most likely that you will have to fork out cash to a repair shop.

Keep in mind car dealers make a lot of money on these extended warranties and that is why they really push you to purchase them after you have agreed on a fair price for the car.

I make a new car purchase about every 4-6 years and call it luck but I have yet to put a $1000 into repairs on any one of these vehicles. (I use the 1000 dollar mark because that was how much it was going to cost had I purchased the extended warranty.) If I had purchased I would have been waisting my money.

On the other hand my father purchased a truck with quad-steering which can be a mechanical nightmare. If certain parts on his truck would have failed then it could have been over 4 to 5 thousand to spend on making it road worthy again.

The choice is yours, but I would say usually the person ends up spending more on the warranty than they would have on simply paying for fixing what ever broke.


Good luck