Should you buy an extended warranty?
- Dealers may try to sell you a extended warranty (also known as an auto service contract) when you buy a new or used car. A warranty comes with a new car and is included in the original price of the vehicle. A service contract or extended warranty is sold separately and is a promise to pay for certain repairs or services. Service contracts are usually high-profit add-ons, costing hundreds to more than $1,000. If you want to get the additional coverage you can always negotiate the price of the extended warranty www.adviceontime.com is a good source of info. The service contract may duplicate warranty coverage you get from the manufacturer or dealer. Ask these questions: Does the dealer, the manufacturer, or an independent company back the service contract? What happens to your coverage if the dealer or administrator goes out of business? How are claims handled? Can you choose among several service dealers or repair centers or do you have to return to one dealer? Is your car covered if it breaks down on a trip or if you move out of town? Do you need prior authorization for repair work? Common repairs for parts like brakes and clutches generally are not included in service contracts. Watch out for exclusions that deny coverage for any reason and other terms that could cost extra when repairs are made. Failure to keep up manufacturer's recommendations for routine maintenance can void the service contract. The contract may prohibit you from taking your car to an independent station for routine maintenance or performing the work yourself.
- You must ask yourself how long do you keep your cars. If your history shows that you keep a car on average 3-4 years then you are fine under the Factory Warranty. You may purchase the Extended Service Plan any time up to the end Of the Factory warranty, but you must pay cash at that time. If you want to "Finance" at possibly lower rates you must do so at Time of purchase.Factory Warrantys(Ford, Chevy etc) are more $ than "After Market" but will cover you Nationally.
- If you are buying a new car and only going to keep it for 3 years then no. But most people buy used then i say YES. Answer this question would you rather pay $1500 out of your pocket for 1 repair or a couple bucks every month and not have to. Plus the work being done is by a mechanic that only works on those type of cars so it will more then likely done right. Also how many times have you brought your car somewhere and they found things wrong and you said ill do it later so then you drive around with a annoying problem which then leads to another problem. When you could've got it done for free. Also most dealerships will give you a loaner car to drive while your car is being fixed!
- I was an underwriter for an extended warranty company for two years, and I would suggest never buying one. The car dealers who sold them left out valuable information and gave out lots of misinformation when selling them to customers. Nine out of ten times, customers were calling to have them cancelled because they did not do what they were told they would do. They were 5 or 6 different types of warranties that fit depending on what type of vehicle you were buying, was it new or used and what the mileage is on the vehicle. The newer the vehicle the more money the dealer is going to get out of it, so regardless they sold the "new" one and when the customer went to use it they would find that there was not coverage for what they needed repaired. If you take the amount of money you are paying into your payment every month that is for the warranty and put it into your savings account you would have the money set aside when something does happen, then you don't have to go through the hassle of waiting while the warranty company decides if it is covered while your vehicle sits in a shop waiting to be repared.
- I've been in the car business for 19 years. First as a mechanic, then in new and used car sales, and now for the last five years as a Fiance Manager in a new and used car dealership. If you KNOW that you will not keep the car past the factory warranty, then don't buy the extended warranty. However, if you drive higher mileage, keep a car longer than the factory warranty, or if you're buying a used car, then an extended warranty is probably for you. Since most Americans live paycheck to paycheck, the idea of putting money away for mechanical breakdowns is unrealistic. I deal specifically with people's credit and I see a lot of problem areas due to uncovered, and unaffordable mechanical breakdowns that could have been avoided with the purchase of an extended warranty. Make certain the warranty company you choose is nationally known and usually insured by an even larger mother company.
- Not all warranties, but definitely GAP insurance.
- If you sell the vehicle before the extended warranty runs out you can request a prorated refund on the unused months !!!!!
- For a car... if and only if you know nothing about cars and have a lot of money. In general an extended warranty is nothing but pure profit for just about any business. This is the reason employees make so much commission from selling extended warranties.
- It's best to buy an extended warranty.
Agree with the above for the most part, but disagree that it's a bad idea to buy an extended warranty. I did extensive research on warranties and found that most people who experienced a repair during their coverage were very glad that they had an extended warranty, and recommended to others that they purchase one. Those who did not experience a repair did not. About 80% of extended warranty buyers experience a repair during their coverage. So ... you have an 80% chance of being glad that you had one. Convinced me. Having said that, it does make sense to find out whether the company providing your coverage is legitimate and secure ... one of the best ways to do that is to ask about third-party certification and awards, from companies like BBB, or category specialists like Motor Trend or J D Power.
Keep in mind that extended warranties are also routinely offered during the sale, or shortly after the sale of consumer goods other than automobiles. Many of the same considerations disccssed regarding auto extended warranties apply to warranties on consumer goods. Perhaps the biggest difference is that many of the vendors of consumer product extended warranties are separate companies than the manufacturer of the item. so it is very important to know who or what you are dealing with (that is, a company such as Ford Motor Company will not be standing behind the extended warranty on your refrigerator).
Understand that an extended warranty is essentially an insurance product, in the sense that the consumer is paying a premium at present for the promise of performance at a later time. Most states license and regulate legitimate extended warranty companies, including to ensure that they maintain sufficient levels of capital to sustain operations and to pay anticipated claims.
An extended warranty may be sold under a product name (for example, "Best Forever") but what is important is the identity of the entity that is financially responsible for the payment of warranty claims; it is that entity that has to be licensed. If an extended warranty is offered at the time that the product is sold, the store salesperson may not know all of these particulars. Do not be pushed into buying the warranty at that moment, as you will doubtless have the chance later to get one if you desire it. In the meantime, do the necessary homework, including contacting the state insurance regulator to make sure that the warranty provider is licensed, the number and nature of the consumer complaints that may have been filed against it, and how they have been resolved.
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Answer . \n (the following is the submitter's personal experience and recommendation) \n. \nFor Apple computers, my personal rule of thumb has always been:\n. \nIf the co…mputer meets any of the following criteria...\n . has a built-in LCD\n . is a portable computer\n . is not designed to be user-upgradeable or serviceable\n . is a custom configuration\n . is business-critical\n ...then it gets AppleCare, if for nothing else than for the peace of mind.\n. \nI've had it on all but one of my Macs, and I've only needed it on two computers, but it more than paid for all I've spent on AppleCare.
Penn warranty company.
Whether or not to buy an extend warranty of a vehicle depends on ifthe consumer knows how long they plan on keeping it. If the vehicleis only be for several years than do not,… but if it will be longerconsider it.
That's really a personal preference, but I usually get extended warranties on any electronics stuff
Yes you should, laptops are very sensitive and could break down out of nearly nothing. My laptops hard drive broke down from having dust in the fan. If i would of bought the e…xtended warranty then i could of replaced my old laptop with a free new one, but no. Now i have to buy a whole new laptop!!
yes incase your cooler dies.
If you buy a new car and get an extended warranty when you sell the car will the warranty go with the car?
\nSome do and some don't. Read the warranty information and it will tell you if it is transferrable. Extended warranties are rarely a smart purchase.
You should't buy an extended auto warranty , if: . Your financially disciplined to set aside an emergency car repair savings fund each and ever month. . Your vehicle is o…lder than 10 years or 100,000 miles. . The extended warranty does not cover mechanical breakdown due to normal "wear and tear" . The extended warranty does not meet your coverage needs. . You don't understand the "What is not covered" and "What is covered" sections of the extended warranty terms. . The coverage limits total claims paid to the total value of your vehicle and the price of the plan is approaching this figure. . The organization selling it is not upfront regarding the terms and conditions of the plan. . The warranty administrator and underwriter is not registered with AM Best and/or BBB and maintain less than Excellent ratings.
If the peace of mind is worth it to you, go ahead and get it. However, very few extended warranties are worth the expense. With an object like a freezer, if it's going to be p…roblematic, it will - 99.9 percent of the time - show up in the first thirty days, when you are automatically covered by warranty anyway. If the freezer works fine for the first three months, it should go on for 14-15 years problem free.
In my own personal opinion it is probably not the best to buy an extended warranty for your photocopier. You will probably want an updated photocopier before the warranty is u…p anyway.
No. It's not necessary.
For those considering making the purchase of a new automobile, the extended warranty is a prime consideration. It usually costs approximately, 10-15% of the purchase price of …the automobile to buy.
Extended warranties on electronic products and electronic accessories can be purchased from the retail outlet at the time of the item's sale. Often these extended warranties w…ill cover extra things such as accidental water damage or from the item being accidentally dropped.
To buy an extended warranty on an electronic product, one should probably go to the store or retailer where one bought the products, and ask the customer service representativ…es if they have offers like that.
A driver should consider buying an extended car warranty to keep their car under the warranty for a longer period of time. An extended warranty means that there is a longer wi…ndow for the vehicle to be covered for free repairs or replacements if it has problems.
No. Different economists, including Harvard economist believe thatextended warranty of tires is usually waste of money. This isbecause pro-rated warranty that comes from the m…anufacturer isenough to cater for the possible risks involved.
In Jeep Liberty
Should you buy additional insurance from dealership that extends warranty up K miles for 2012 jeep liberty?
up to 100k miles. regular 3 year / 36 k mile warranty expires soon.Additional insurance 2 k dollars and covers everything but oil andtires