You can cash in extended warranties, they will generally pro-rate some of it but you should be able to get a lot of that money back. If you wanted to, you could even shop around and re-buy from another dealer at any time while the original warranty is still valid. Pricing on extended warranties varies wildly and you can buy one from any dealer.Now I am having buyers remorse because I drove a Leaf for 6 years with no issues.
Agree. Consumer Reports reached the same conclusion. It's just another added-profit option for the closer to push as you are signing papers. That's why you can negotiate a much lower price and the dealer will in most cases agree instead of losing the sale of this option.Extended warranties are never worth it IMO. Well not my opinion, but by statistics
I posted somewhere. I never got it before. But I am a little reluctant about the new technology for now and want to make sure I have all warranties as extended as they can be... I caved in. And yes the buyers remorse hit when a Chevy Bolt EV premier with all bells and whistles and extended warranties cost me 60k and change. Made feel like cancelling the whole ordeal and going back to my model 3 reservation, but then I realized doing the same thing with Tesla would push me towards the 70k price mark, so I’ll keep the bolt...Someone brought up a good point. The Bolt has so many new gadgets and whatnot, if anything were to break outside of the warranty period it's going to be expensive to repair or replace. Did anyone get extended warranty?
I think extended warranties are a scam. They wouldn’t offer them if not making money and $3,000 is a pretty big chunk of change. Most electronics fail in the first year or two. If you make it past 3 years you’re probably good for the life of the vehicle. Just my opinion
You made me feel better on my choice. To me peace of mind is more important at this time. Thank you.I think extended warranties are a scam. They wouldn’t offer them if not making money and $3,000 is a pretty big chunk of change. Most electronics fail in the first year or two. If you make it past 3 years you’re probably good for the life of the vehicle. Just my opinion
Not my experience. We bought a 2007 jeep wrangler rubicon brand new with no extended warranty. If i told you how many thousands upon thousands of dollars I spent replacing computers and electronics and the damage their failure caused..... i will never buy any car that is so loaded with electronics and not get complete coverage including extended especially when their warranty is like 3 years... Our Kia Sorento is 5 year, much better! Never. I have and still work on my cars, have for 40 years. Most cars today you cannot touch without factory diagnotic tools (or third party ones) that also cost thousands. And yes I have several of them for my old vehicles from ebay. I also buy factory service manuals in paper format for every car I own. Still looking to get for the bolt. I hate buying new cars, I would rather buy a good quality used car and fix it myself but its getting hard and harder. CAMbus and vin locked computers / radios and security systems. Can bleed you brakes without throwing codes sheesh, whats next I wake up and see an email that I have been billed for various repairs and service for my autonomous car which drove itself to the dealer when it identified the problem.
Here's our shop where we fix our vehicles.
Of course they are making money, but its like insurance, the group pays for the bad ones. Insurance is expensive too, you may not have ever used it either, but would you say the same thing? Its insurance, plain and simple. One big failure of a key component and its pays for itself. If you are financing or leasing, its pennies a day. Lastly with transferrable warranty I am pretty sure it might help on a resale if the warranty is not yet expired. Used car with a warranty is certainly more valuable than one that is not, imho.The dealer put on a full court press telling me all the horrors of not getting an extended warranty but I fended them off. For me personally I go by the averages and the dealer wouldn't be selling these if they were not making money over all. So could I lose out in the end. Yeah but if things are shaky in the first 3 years I can either sell or I can buy a warranty then. Sure it would cost more but then I would have more information to go on at that point (plus I wouldn't have plunked down the 3,000 3 years in advance either. Also I always find that whatever breaks somehow doesn't end up in the warranty anyways. But its all in the matter of one's comfort level.