car warranties. yes or no

[Blake]

I absolutely don't get warranties for stuff like the home or electronics, but I'm thinking of getting a new car and they're pushing warranty of course.

Anyone had a car warranty actually work?

[SpursforSix]

I absolutely don't get warranties for stuff like the home or electronics, but I'm thinking of getting a new car and they're pushing warranty of course.

Anyone had a car warranty actually work?

I've always gotten them and every time I say I'm not going to do it again. I don't think I've ever ended up on top with them.

[Chucho]

If you come to THIS place to get advice like that...time to put the barrel to the head and press the trigger.

[TheSanityAnnex]

I absolutely don't get warranties for stuff like the home or electronics, but I'm thinking of getting a new car and they're pushing warranty of course.

Anyone had a car warranty actually work?

Yes. Used to have an Acura CL type S and the transmission was junk. Warranty covered 2 transmission swaps and then Acura lost a lawsuit because of the faulty transmission and I got another extended warranty and had it replaced a third time. Acura dealership called me a year later and offered me $2500 over blue book so I happily sold them back that piece of shit.

[DisAsTerBot]

do a ton of research on any known issues with the model of car your are purchasing. Pay yourself a warranty if you are worried about unexpected costs.

[Blake]

If you come to THIS place to get advice like that...time to put the barrel to the head and press the trigger.

Hey good point. I should go to a message board where people drive cars.

[BD24]

car warranties are nice. My wife got one on her car and it has already paid for itself.

She had a couple things break that would of been pricey to fix that she didn't get charged for. With that said I will only be leasing cars after my current car dies on me.

It makes much more financial sense to lease in the long run.

[Blake]

car warranties are nice. My wife got one on her car and it has already paid for itself.

She had a couple things break that would of been pricey to fix that she didn't get charged for. With that said I will only be leasing cars after my current car dies on me.

It makes much more financial sense to lease in the long run.

Good lord I'll never lease again.

What kind of car did you have the warranty on

[benefactor]

They are a ripoff. The factory warranty should be sufficient on any car. Get you a Consumer Reports Auto Guide and pick a car with a solid reliability history. I've used it on my last several cars...have never bought a warranty and had no issues.

Never buy a new car either. A lightly used car will save you thousands.

[BD24]

Good lord I'll never lease again.

What kind of car did you have the warranty on
Just a nissan versa that my wife drives. Leasing not worth it? From what I saw leasing is the cheaper option. Car value doesn't increase like home value, so it isn't really an investment.

[BD24]

Never buy a new car either. A lightly used car will save you thousands.
100% agree with this. No reason to ever buy a brand new one. Just get a car with like 10k on it.

[DPG21920]

You would only need a warranty if you are buying a car that is used to the point the original warranty is expired, no? By "new car" do you mean new to you or literally brand new? If it's used, it's probably something I would recommend. The question is simple: can you afford the cost of the warranty rolled into your loan over "x" years? If yes, it's probably a good idea because if you can't afford that you most certainly can't afford if something goes really wrong.

[DPG21920]

They are a ripoff. The factory warranty should be sufficient on any car. Get you a Consumer Reports Auto Guide and pick a car with a solid reliability history. I've used it on my last several cars...have never bought a warranty and had no issues.

Never buy a new car either. A lightly used car will save you thousands.

Normally agree, but if you are going to keep it for 5 years plus, buying new isn't terrible. Depending on the model. Sometimes, depending on the model, especially if they hold value well, the difference in a year old/10K car and brand new is only a few grand which in the big picture isn't a huge deal.

But some models you can get fantastic deals used.

[RsxPiimp]

japanese cars particularly honda, toyota and mazda. probably not.

euro cars, fuck yeah :lol

same with american junk cars

buy certified it's the real deal.

[Blake]

You would only need a warranty if you are buying a car that is used to the point the original warranty is expired, no? By "new car" do you mean new to you or literally brand new? If it's used, it's probably something I would recommend. The question is simple: can you afford the cost of the warranty rolled into your loan over "x" years? If yes, it's probably a good idea because if you can't afford that you most certainly can't afford if something goes really wrong.

Yeah, new to me. I concur with getting a car a couple of years old. I practically stole my last car from a private seller.

But checking auto trader and car gurus etc, not much going on with private sellers. Seems like it's all auto dealers....and if I go with a dealer I know they'll push a warranty

[Blake]

Just a nissan versa that my wife drives. Leasing not worth it? From what I saw leasing is the cheaper option. Car value doesn't increase like home value, so it isn't really an investment.

How much did you put down on the lease?

I did the lease thing a long time ago but my miles were too far over to give the car back. I was basically forced to refinance the balloon payment after 3 years. Never again.

[Blake]

japanese cars particularly honda, toyota and mazda. probably not.

euro cars, fuck yeah :lol

same with american junk cars

buy certified it's the real deal.

I'm in this line of thinking

[SpursforSix]

How much did you put down on the lease?

I did the lease thing a long time ago but my miles were too far over to give the car back. I was basically forced to refinance the balloon payment after 3 years. Never again.

Same. Except I bit the bullet and paid for the extra miles.

I used to work for a guy who was always leasing high end luxury cars. We traveled every week and he would always rent cars rather than put miles in his lease. So he was never taking his nice comfortable cars on out of town trips.

[DPG21920]

Yeah, new to me. I concur with getting a car a couple of years old. I practically stole my last car from a private seller.

But checking auto trader and car gurus etc, not much going on with private sellers. Seems like it's all auto dealers....and if I go with a dealer I know they'll push a warranty

I mean to me, how I think about things like this is: How much money do I have? Do I have thousands of dollars saved to where "IF" something goes wrong I can pay it out of pocket and not be in financial trouble? If not, the warranty is a good idea. While odds are you won't use it, for the cost of $50 a month (probably less) for 5 years you can pretty much guarantee you aren't in major harms way (talking about repairs that cost 2K plus.)

[DPG21920]

I'm looking at some cars and the used (1 year CPO) aren't really much cheaper at all. To me, for the car I want, there has to be a decent amount of savings for me to buy used (which I have done).

Some models don't change much over a 2-3 year period which is where you can find good deals. But some change a lot and some hold value well so buying used isn't always a no brainer.

[Blake]

I mean to me, how I think about things like this is: How much money do I have? Do I have thousands of dollars saved to where "IF" something goes wrong I can pay it out of pocket and not be in financial trouble? If not, the warranty is a good idea. While odds are you won't use it, for the cost of $50 a month (probably less) for 5 years you can pretty much guarantee you aren't in major harms way (talking about repairs that cost 2K plus.)

Yeah, or if I can be diligent and put that 50 bucks aside in a savings account for emergency, I'd have 50x12x5=3000.

But I'm not like that. I'll probably stick repairs on a credit card or something if it's a few grand or more

[Blake]

I'm looking at some cars and the used (1 year CPO) aren't really much cheaper at all. To me, for the car I want, there has to be a decent amount of savings for me to buy used (which I have done).


I'm noticing that. I'm gonna keep searching tho. Hell I'm not really sure what I want right now either. Gas is cheap but for how long.

[DPG21920]

It's all about your budget IMO. Forget about used/new. Find your budget both total for the car and monthly and then go from there and don't go over. If you can afford something newer in the budget that fits, great. If not, look used and find what you need that works.

[benefactor]

japanese cars particularly honda, toyota and mazda. probably not.

euro cars, fuck yeah :lol

same with american junk cars

buy certified it's the real deal.
Mazda is owned by Ford now tbh.

I got mine certified used. They threw in a 7 year/100k mile power train warranty for free.

[Blake]

Yeah for cars, I wouldn't touch a Mazda.

Toyota and Honda are the 2015 Warriors and Spurs tho

[Spurs9]

Depends on the car tbh. Never buy the wheel warranties though, I paid like $1200 for one when I was young and dumb buying a BMW. Never used the thing once. I wouldn't worry for warranties on anything Japanese but german yes. I've spent so much on repairs on the BMW since I've owned it, sometimes it would cost $3k for a trip to the shop, almost always guaranteed to pay over $1k+. I've never had any problems with my Lexus. Toyota has legit engineering, not overly complex like german stuff.

[DPG21920]

Yeah for cars, I wouldn't touch a Mazda.

Toyota and Honda are the 2015 Warriors and Spurs tho

Mazda was rated a top car brand for 2016 - I think top 6. Regardless of who own's them, still rated very highly for reliability.

http://www.consumerreports.org/cars/which-car-brands-make-the-best-vehicles/

[Blake]

Mazda was rated a top car brand for 2016 - I think top 6. Regardless of who own's them, still rated very highly for reliability.

http://www.consumerreports.org/cars/which-car-brands-make-the-best-vehicles/

I guess they've come up in the world.

[RandomGuy]

do a ton of research on any known issues with the model of car your are purchasing. Pay yourself a warranty if you are worried about unexpected costs.

+1

Blake, most times is isn't worth it. The only real exception is big ticket items like transmissions that you might not be able to find the short term funds for. You are better off in the long run setting aside $4,000 or so in a in something that earns a small amount of interest. Cut out the overhead of the warranty.

[Koolaid_Man]

I absolutely don't get warranties for stuff like the home or electronics, but I'm thinking of getting a new car and they're pushing warranty of course.

Anyone had a car warranty actually work?

If i were you I'd get the extended warranty especially for the power train....I bought a 64 Ford Chevy Impala one year and shopped that shit around at a credit union to finance it and they sold me the warranty at 1.7% intereat and shit.....go buy you a Prius or or Ford Escort dawg or a drop top Mazda Miata like DPG has... and drag race the shit out of em....

[Blake]

If i were you I'd get the extended warranty especially for the power train....I bought a 64 Ford Chevy Impala one year and shopped that shit around at a credit union to finance it and they sold me the warranty at 1.7% intereat and shit.....go buy you a Prius or or Ford Escort dawg or a drop top Mazda Miata like DPG has... and drag race the shit out of em....

I thought most power trains go 10 year/100k already.

Lol drag racing a prius

[DPG21920]

+1

Blake, most times is isn't worth it. The only real exception is big ticket items like transmissions that you might not be able to find the short term funds for. You are better off in the long run setting aside $4,000 or so in a in something that earns a small amount of interest. Cut out the overhead of the warranty.

The key there is having the discipline to actually do that, having the lump sum money to do that vs rolling into the loan in bite size amounts at usually 2% or less interest & what type of car (new vs used).

Sure, purely financially speaking it's a no brainer to do what you said, but functionally most people don't and won't do that. I am risk adverse when it comes to things like this. If I can afford the $35 a month, then I do it even though it's not the most sound financial thing to do. A big part of that is at this level of money, the amount saved is really small potatoes to me and so knowing ones self is a big part.

It's like saying you can make a 100% return on a penny investment if you do something that you normally don't do. Well, that's great, but since I don't really "care" about that money in terms of habits/motivation, it's about what I really will do.

But for bigger ticket items, looking at the financial side of the equation makes a ton of sense.

But for this, let's say the warranty is 2K and your rate is 2% on your auto loan for 60 months. You are only paying about $100 interest on that warranty rolled into your loan for that 5 years (so $20 a year). It's not a huge deal and for people that may not have the money (4K just to set aside) or discipline (far more likely) I would strongly consider it since that 2K rolled into your loan at 2% is only an additional $35 a month which most everyone can afford.