I can’t really comment too well about car warranties (although, if your car comes with a long warranty, I like it, because if you are paying off the car, you won’t have to say, replace your engine as well). The other side argues, why would they give you such a long warranty? Is this likely to breakdown?
Again, I would look at web sites like the Lemon-Aid web site and check out the yearly books as well (very useful if you are buying a used car as well (take them out of your library?)).
I bought an extended warranty on my ’95 Plymouth Voyager (it was 2 years old when I got it in 1997) and the warranty cost $900. I had a head gasket job, repaired the Air Conditioner and 1 other big jobs, so in that case the warranty did pay for itself (a few times over). This was not the manufacturers warranty it was a third party warranty.
If you trust your mechanic (and I trust mine) ask him whether you should pay for extended warranties on your used car (or maybe your mechanic will sell you one himself). Ask people who you trust whether they think it is a good idea, and make your decision in an informed fashion (as you should with all decision on anything monetarily over $10). Ask yourself, am I buying VALUE here? (as you should with all major purchases).
- Warranties? why would you get one? Maybe you just need a good support structure?
- Warranties (Part ii) for cars? Are extended warranties worth the money? Yes, in my case.
- Warranties (again) are they worth having? More discussions on that topic.
- Warranties and Computers – should you really pay for this? I don’t but I can usually repair it myself, except Apple products.
- Warranties a Final Thought – what parameters should you consider in your decision
- Extended Warranties: An Update explains why the extended warranty on my van saved me.