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Old 11-03-2001, 12:03 AM   #1
T-WRX-02
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Default Extended Warranties - Who needs them?

This is kind of a public service announcement, in general, for all makes of vehicles. Many car owners are buying extended warranties for their new cars, but may not keep their cars through the manufacturer's bumper-to-bumper general warranty period.
First, there are no true manufacturer warranties ... just third party providers licensed to use the manufacturer's name on the forms. If you have a problem ... it is to be settled with the provider of the extended warranty, not the manufacturer.
Second, for example, if you have a three year bumper to bumper warranty and you buy (for example) a fourth year 48,000 mile extended warranty plan, there are a few things you should be aware of. The plan goes into effect on day one of its purchase, even though it does not provide any service the basic manufacturer's warranty provides. This means if you cancel it before your factory warranty expires (for example, the last day of factory warranty-month 36) you are not entitled to all of your money back. Worse, since the warranty started on day one, you are entitled only to year four for reimbursement (or 25% of what you paid)! But wait, the rip-off has just begun. You are only reimbursed the amount that the policy was sold to the dealership for - usually half of what you paid for it. Gee, you are down to a mere 12-1/2% of what you originally paid for the policy. But, lets go on a step further... there is also a cancellation fee, usually $30 or more to be paid by you! Now you are entitled to less than 10% of the money you paid for the plan back ... and you never were able to use one penney's worth of the extended warranty policy!
So, before you plop down $500 to $1000 for an extended warranty, read the fine print. They usually don't cover items that usually fail and some require a copayment of $25 to $100 per incident. Some dealers jack up these warranty costs to pick your pocket further. Many of the big ticket repairs are covered by the manufacturer's implied or extended driveline warranties.
So, be aware of what you are purchasing. If you usually keep a car for less than the manufacturer's warranty perion, DON'T buy an extended plan. If you keep a car for a long period of time, you may wish to purchase a plan when you buy the car (and they will gladly let you finance that plan with the purchase - effectively costing you 1-1/2 times what the original cost was)! You can always purchase a plan when your warranty expires, but these usually cost a little more, but the risk is less. Read the fine print!!! Caveat emptor !!:monkey:
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Old 11-03-2001, 12:33 AM   #2
Sean
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Talking Erm?

I dunno...I plopped down and extra $1200 or so for the 100k extended warranty with the $50 deductable. I've had well over $7000 in warranty work done on the car since the standard 30k warranty expired. Overall, I'm quite happy I spent that extra $1200!

Fear the Trunkmonkey. There is no cone.
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Somebody set up us the WRX. All your rice are belong to us!
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Old 11-03-2001, 12:34 AM   #3
Sean
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Question Hrm...

Oh, and shouldn't this have gone in the warranty forum?

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Somebody set up us the WRX. All your rice are belong to us!
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Old 11-03-2001, 01:08 AM   #4
T-WRX-02
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Default

I thought since this was a general statement and was non- Subaru specific - that it would fit in the general section better.
So Sorry!

Also, Gadzooks Sean! ... what did you do to your vehicle to rack up $7000 in warranty repairs? Inquiring minds want to know! In your case, the extended warranty was a deal.

I went 62K on my last Subaru and I only replaced a fog lamp broken by a road stone. Also, traded it in with original tires and brakes (mostly highway driving).

I just posted this since a lot of people buy the warranty and trade it in before the warranty is up. Its the American way!!
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Old 11-03-2001, 01:15 AM   #5
cnstman
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Default my experience with warranties

i got an entended warranty on a used vehicle with a $100 deductable, and to make a long story short, a year later i got a rebuilt transmission for $100. ever since then i am sold on them. they are not for everyone, but they are for me. my 2200 transmission only set me back 100, and there is now way i could have come up with the other 2100 at the time.

my $.02

cnstman
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Old 11-03-2001, 07:52 AM   #6
redobs
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At the rate I drive, my factory warranty would almost be over in a year and a half. And if something were to go wrong after that period, that would suck.
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Old 11-03-2001, 09:02 AM   #7
Sean
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Old 11-03-2001, 11:15 AM   #8
HIHO
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I keep my cars so the extended warranty is great. I am covered up to 107,000. I like the piece of mind. I have already had $800 worth of work and it cost me $50.
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Old 11-04-2001, 12:44 PM   #9
Snowphun
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I'm not sure why anyone would buy the extended warranty when they purchase the car? You can pick it up just before the manufacturer's warranty ends, if you feel that you need one. We did this for our 98 Legacy GT last year and it was well priced. If you do roll it into your initial cost, you'll be financing it for three years when you're not using it!

That said, the amount of things not covered by most of these warranties is pretty poor.

Paul
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Old 11-04-2001, 11:47 PM   #10
wistful
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question. do these warranties count if I start modding the car? If so, it'd be worth it! buy the extended warranty... run 25 psi at the track.. and bring it in on Monday for a new motor!

Don
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Old 11-04-2001, 11:54 PM   #11
kdmd2b
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Quote:
Originally posted by wistful
question. do these warranties count if I start modding the car? If so, it'd be worth it! buy the extended warranty... run 25 psi at the track.. and bring it in on Monday for a new motor!

Don
Are you serious? I am sure that any extended warrenty will have just as much fine print about not covering damage from mods and racing. No company is going to give you a warrenty that allows you to break your car and then fix it for you.
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Old 11-13-2001, 06:24 PM   #12
TypeC
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I got the 80-90K (can't remember) ext warranty for 1.4K. I don't mind the peace of mind. I do mod the car, but you have to be smart about things. It's not like you can take Al's car and have the clutch replaced. I mean, in 5 yrs I'd blow 1K on stupid stuff.

-C
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Old 11-14-2001, 03:53 PM   #13
cakagan
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I bought my extended warranty, no deductable, after my 3-yr lease was up. I financed it along w/ my loan for 2yrs, and I'm covered until 75,000mi. I think that'll be perfect, since my '98 RS has ~49,xxx miles on it. And according to the finance and service guys at my Sube dealership, Subaru does offer an extended warranty. Mine is better though, as it covers the entire car bumper to bumper like the original warranty, I can take it anywhere for service (not just a dealership) and I have $0 deductible.

Isn't the powertrain warranty good for 6yrs-60,000 miles? I believe my new engine was covered under it, correct?

-Chris
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