is a Power Shield Extended Warrenty worth the money?

Question

someone told me about extended auto warranties through power shield, and I'm wondering if it's worth the money.

it almost looks to good to be true, they cover "everything" for 600 bucks per year!

thats just over what i pay for car insurance!

http://www.carwarranty.com/whats_covered.asp

would i be better off just putting the 500 a year into a fund to buy a new car/cover repairs?

sure i've had one thing i had to fix that would be covered, and every other "problem' would not be covered ( exhaust system, fuel system)

i'd love to hear from people who have/had the service and have made a claim.

thanks.

Answer 1

I would not recommend it, due to it is not from the Auto Manufacture. Now depending on what the mileage is and the year of your vehicle you might still be able to go and get an extended warranty from the dealer. But if the car is older then lets say five to seven years, you could do better by saving your money and using your car and your money as a down payment on something that would have a warranty on it.

Answer 2

If i grew to become into specific that i mandatory a protracted guarantee on a used automobile, i could purchase a distinctive automobile. prolonged guarantee companies would desire to make a earnings, with the intention to realize this the rates paid in has to exceed the expenses paid out. so as that they'll collect on an widespread greater funds then the vehicle proprietor will incur for that comparable volume of time. At suited they play the inventory industry with the funds and with sensible investment can hide the losses. At worst they placed it right into a financial organization and draw interest. however the inventory industry approach to make funds has no longer been doing properly, and expenses of interest are interior the basement. So purely take the whole value for the coverage, placed it interior the financial organization (or play the inventory industry with it) to hide maintenance.

Answer 3

Warranty is just gambling that your car will break. You are saying that it will and the company is saying that it won't.

So who's to say? That will have to be your call. Personally, I wouldn't get it. Like you said, just put the money in a fund and if you have a break down then you have the money to pay for it. If you don't, then you are a bunch of money ahead to put down on a different or new car.

Good luck on your decision.

Answer 4

I HAVE BEEN IN THE AUTO REPAIR BUSINESS FOR OVER 35 YEARS AND I DO RECOMMEND AFTER MARKET POLICIES.

YOU HAVE TO DO YOUR OWN RESEARCH AND GET A COMPLETE COPY OF WHAT THEY COVER AND WHAT YOUR DEDUCTIBLE WILL BE.

DEALER WARRANTIES ARE TO EXPENSIVE AND THEY WILL RIP YOU OFF .

THE PRICE SOUNDS GOOD BECAUSE I HAD ONE SIMILAR TO THIS THAT COVER EVERYTHING LESS WEAR ITEMS LIKE BRAKES, BELTS AND SO ON BUT IT ONLY COST $650.00 FOR 7 YEARS OR 75,000 MILES.