Car extended warranty question

[tulsaoilerfan]

So we're buying a car for our son, but the factory warranty will be over in about 3K miles; has anyone ever bought an extended warranty from outside the dealership? I know those things are way overpriced and i'm not going to pay what they want for it; thanks.

[salth2o]

When I was younger and dumber, I bought an extended warranty from the dealer and there was definitely a LOT of red tape to deal with when I needed something done.

[LosAngelesSooner]

I have.

It was the worst money I've ever spent. Didn't cover a damn thing even though I bought the Ultra Premier, Platinum Edition Bumper to Bumper Extended Warranty!!!!!!!!

Covered SQUAT.

In all the years I had it, it only covered one thing that went wrong with my Jeep. Everything else was "Not covered in the fine print!"

*******s.

[Okla-homey]

Better to buy a used car you know your neighborhood mechanic (who is not affiliated with a dealership) can fix than waste money on a used car warranty. Those things are cash cows for used-car dealers because they are almost all profit.

[SoonerBorn68]

If you buy a warranty make sure it's the extended factory warranty. Ford has the ESP (Extended Service Plan) which is sold by Ford. It's more expensive but it will cover many of the items the "aftermarket" warranties won't. They are a rip off.

[tulsaoilerfan]

Well so far the replies are about what i expected so i don't think i'm going to waste my money but would appreciate any more input that you fine SO folks can give me

[Sooner_Havok]

Tell them you are taking it to YOUR mechanic before you are going to buy it.

[BermudaSooner]

Traditional insurance (homeowners, auto, ect) typically pays out claims equal to about 65-70% of the premium (the rest goes to expenses and profit). Typical auto warranties pay out about 20%, with as much as 50% going as a commission to the dealership that sells the thing.

So, on average, a very bad bet.

[TUSooner]

My cousin bought an after-market warranty for a son's used car and said it was absolutely worth it. Don't know who he bought it from, though.

[Boomer.....]

I personally wouldn't buy it. Save the money and keep it in a place where you can use it in case something does go wrong. More than likely you wont have any major repairs.

[TUSooner]

I personally wouldn't buy it. Save the money and keep it in a place where you can use it in case something does go wrong. More than likely you wont have any major repairs.

Yeah, I could do that. BWAHAHAHAHAHAH !!!!!!!1

:rolleyes: :D

I have just spent (or will soon spend) a ton of money that I don't have on major repairs to "old" cars without any hope of ever getting it back in resale. If I had spent even $1500 on a good warranty on one car, I'd have made my money back. Bughghghghghghghg !!!!!!!! Next breakdown, I'm switching to a horse and buggy.

[Oldnslo]

I've made a not-insignificant income from suing these companies.

It isn't because they sell a sterling product and give wonderful customer service.

[OklaPony]

I've actually had good luck with a couple from Warranty Direct. They ended up paying for service for some front end parts, a wiring harness, and a couple of other things at repair shops and dealer service departments. For the first one I only had one car at the time, I bought the extended warranty before the mfg. warranty expired so it was an inexpensive as I could get it, and I was travelling in it all over the country for work and needed the 24-hr. roadside assistance, or at least the security blanket of having it available. For the 2nd one I sold the car before the ext. warranty expired and advertised it as such which turned out to be helpful in selling the car.

I can't speak for all of the ext. warranty companies out there but in at least these 2 cases they did what said they would.

[BajaOklahoma]

My son got the ESP on his Escort. The last year he had the car and the warranty, he 4 or 5 things wrong with the car. They were all covered - and the ESP more than paid for itself.
This was the only time any of our family has bought the ESP.

[Okla-homey]

My son got the ESP on his Escort. The last year he had the car and the warranty, he 4 or 5 things wrong with the car. They were all covered - and the ESP more than paid for itself.
This was the only time any of our family has bought the ESP.

FWIW, I think manufacturer-sold ESP's are a whole different kettle of fish from used car warranties sold at used car lots by used car salesmen. That's the cheesey/sketchy trifecta right there.;)

[SoonerKnight]

I bought a 1998 Saturn back in 2000 and I got the extended warranty. Then I moved to Denver in 2002 and we had a big snow storm in 2003 I got stuck and did some damge to the engine don't remember what exactly I took it in they covered everything then the power windows stopped working and they covered that as well. I even took it to the dearlership for something that was not covered and the mechanic did not charge me and fixed something minor as well.