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Extended Warranty Coverage Yay or Nay
questions questions 1-not sure didn't work there 2-not sure not a warranty expert or about to read all that 3-$1000 4-0 5-ha ha ha ha haDetails, please.
For finding and fixing the rattle, did the dealer get reimbursement from Toyota on the factory warranty or from the extended warranty company? Was finding the rattle excluded from the factory warranty?
How much did the extended warranty cost?
How much did the repair to the rattle in door cost?
Did having the extended warranty save you more money on the repair than what you paid for the extended warranty?
Wayne
Replies
Let me see if I have this straight:
1) You paid about $1,000 for an extended warranty on an ‘06 Tacoma,
2) You cannot say how much the dealer charged someone to fix a rattle in a door.
3) You do not know whether the manufacturer’s warranty or the extended warranty paid for fixing the rattle in a door, or for that matter whether the dealer fixed it at his own cost to get you off his back.
Are you claiming that this is evidence that an extended warranty saved you money?
Note: Removing and replacing a door panel is a simple job that would take less than an hour’s labor. In 2006, that was surely no more than $100 (and probably less) per hour.
Wayne
1) You paid about $1,000 for an extended warranty on an ‘06 Tacoma,
2) You cannot say how much the dealer charged someone to fix a rattle in a door.
3) You do not know whether the manufacturer’s warranty or the extended warranty paid for fixing the rattle in a door, or for that matter whether the dealer fixed it at his own cost to get you off his back.
Are you claiming that this is evidence that an extended warranty saved you money?
Note: Removing and replacing a door panel is a simple job that would take less than an hour’s labor. In 2006, that was surely no more than $100 (and probably less) per hour.
Wayne
didn't claim that... maybe re-read the post???Let me see if I have this straight:
1) You paid about $1,000 for an extended warranty on an ‘06 Tacoma,
2) You cannot say how much the dealer charged someone to fix a rattle in a door.
3) You do not know whether the manufacturer’s warranty or the extended warranty paid for fixing the rattle in a door, or for that matter whether the dealer fixed it at his own cost to get you off his back.
Are you claiming that this is evidence that an extended warranty saved you money?
Note: Removing and replacing a door panel is a simple job that would take less than an hour’s labor. In 2006, that was surely no more than $100 (and probably less) per hour.
Wayne
Maybe point out which parts I have wrong.
Are you claiming that having an extended warranty saved you more money on fixing the rattle than what you paid for the warranty? If so, provide details to back up your claim.
Are you claiming that having an extended warranty saved you more money on fixing the rattle than what you paid for the warranty? If so, provide details to back up your claim.
I think extended warranties are probably more important now than they used to be years ago. There was a time when you could keep the most expensive Mercedes-Benz for decades without having expensive repairs and maintenance. Nowadays, there are creature comforts that cost a ton of money to repair after a factory warranty expires. Think lane keeping assist, rear/side traffic alert, 360 degree cameras, navigation, bluetooth and all that goes with it, intelligent cruise control, etc, etc, etc. Even headlights are becoming very expensive to repair and/or replace.
It's not like it was during the 60s, 70s, 80s, 90s, etc. There's a computer for everything and technology is everywhere. If you're planning on keeping a vehicle for a long time - and it has high tech features - and those features are one of the reasons you purchased the vehicle - an extended warranty doesn't seem unreasonable to me.
It's not like it was during the 60s, 70s, 80s, 90s, etc. There's a computer for everything and technology is everywhere. If you're planning on keeping a vehicle for a long time - and it has high tech features - and those features are one of the reasons you purchased the vehicle - an extended warranty doesn't seem unreasonable to me.
I am still waiting for one of the thousands of readers of this forum to offer a testimonial that an extended warranty saved them more money in repairs than what they paid out up-front for the warranty. The silence speaks volumes.
We have a total of 1,304 members - and 6 of them are here discussing extended warranties - including you and I. This is a relatively new community. It may make the most sense to refrain from gauging the value of extended warranties here until we have a larger community to pull data from.I am still waiting for one of the thousands of readers of this forum to offer a testimonial that an extended warranty saved them more money in repairs than what they paid out up-front for the warranty. The silence speaks volumes.
seems most Sportage customers are on the Kia forum (which somehow I got banned from) rather than this Sportage forum?
True. I started this community as I felt it was odd that no Sportage-specific forum existed on the internet. As if the Sportage isn’t worthy of that. So here we are. We’ll grow - though slowly…seems most Sportage customers are on the Kia forum (which somehow I got banned from) rather than this Sportage forum?
I would be curious to know how many of the 1,304 members have read this thread but have not posted a testimonial that an extended warranty saved them money. It may be wise to refrain from extolling the virtues of extended warranties in the absence of supporting evidence.We have a total of 1,304 members - and 6 of them are here discussing extended warranties - including you and I. This is a relatively new community. It may make the most sense to refrain from gauging the value of extended warranties here until we have a larger community to pull data from.
In my 75 years, I have never yet seen one scintilla of evidence that an extended warranty on any product saved someone money.
Wayne
The topic has been viewed a total of 305 times, mostly by guests (non-members). Do keep in mind that for most of your life, cars didn't have high tech options like lane-keeping assist, which cost more to repair and/or replace than things like starters - which are simple replacements. These days, between diagnostic costs, parts costs, and complications that arise from so many things/features being connected - it's a very different ballgame than it was years ago.I would be curious to know how many of the 1,304 members have read this thread but have not posted a testimonial that an extended warranty saved them money. It may be wise to refrain from extolling the virtues of extended warranties in the absence of supporting evidence.
In my 75 years, I have never yet seen one scintilla of evidence that an extended warranty on any product saved someone money.
Wayne
We should simply agree to disagree on this. I clearly have a much better opinion of the long-term reliability of modern cars in general and Kia in particular.
Arguably, an extended warranty might have made more sense, not less, decades ago when cars and their parts were notoriously unreliable and short-lived.
Several times you have mentioned lane-keeping assist as a potential costly repair. The first thing I did when I got the car home from the dealer was research how to turn off lane-keeping assist. It was an annoyance. The roads around here are curvy and narrow and it was frequently activating when I was in my lane but the lane was so narrow that I was too close to one of the painted lines for its liking. I do not see why it is needed (or even legal.) If I get too old to keep the car in my lane, I will hand over the keys.
I have a similar attitude toward the need for most of the “technology” items on the car. The GPS in particular is worse than worthless most of the time.
Kia has a reputation as one of the top brands for powertrain reliability. They cover that for 10 years or 100,000 miles. After that I am happy to take my chances on necessary repairs. In all probability, the powertrain will be trouble-free for more than 200,000 miles.
But the fact remains that no one has brought forth evidence of extended warranty saving them money beyond the cost of the warranty. All I have seen is worry that problems could arise (maybe) and that an extended warranty would pay the cost of repairs (a doubtful proposition in itself) in excess of the thousands of dollars the warranty cost.
Wayne
Arguably, an extended warranty might have made more sense, not less, decades ago when cars and their parts were notoriously unreliable and short-lived.
Several times you have mentioned lane-keeping assist as a potential costly repair. The first thing I did when I got the car home from the dealer was research how to turn off lane-keeping assist. It was an annoyance. The roads around here are curvy and narrow and it was frequently activating when I was in my lane but the lane was so narrow that I was too close to one of the painted lines for its liking. I do not see why it is needed (or even legal.) If I get too old to keep the car in my lane, I will hand over the keys.
I have a similar attitude toward the need for most of the “technology” items on the car. The GPS in particular is worse than worthless most of the time.
Kia has a reputation as one of the top brands for powertrain reliability. They cover that for 10 years or 100,000 miles. After that I am happy to take my chances on necessary repairs. In all probability, the powertrain will be trouble-free for more than 200,000 miles.
But the fact remains that no one has brought forth evidence of extended warranty saving them money beyond the cost of the warranty. All I have seen is worry that problems could arise (maybe) and that an extended warranty would pay the cost of repairs (a doubtful proposition in itself) in excess of the thousands of dollars the warranty cost.
Wayne
Sure, but the overall reliability of new cars has gone through the roof, compared to the older, "non-tech" cars. And as far as electronics are concerned, if they are faulty and are going to fail, they usually do very early on. Could they be "zapped" by an electrical charge somehow? Sure, but generally not likely, if you aren't fooling around with them. Some Kia dealers and/or finance dept sales people often try to scare people into paying for these extended warranties (aka ripoffs) buy claiming that the electronics are covered for less time than the rest of the car and that they are expensive to replace. This specific example is all over these forums, so seems to be a dealer's "go to" scare tactic for selling these worthless policies. These warranties cost THOUSANDS of dollars. That buys a lot of repairs, even if it is a display that needs to be replaced someday (and most probably after the extended warranty expires!)...The topic has been viewed a total of 305 times, mostly by guests (non-members). Do keep in mind that for most of your life, cars didn't have high tech options like lane-keeping assist, which cost more to repair and/or replace than things like starters - which are simple replacements. These days, between diagnostic costs, parts costs, and complications that arise from so many things/features being connected - it's a very different ballgame than it was years ago.
It's okay, we can certainly agree to disagree.We should simply agree to disagree on this. I clearly have a much better opinion of the long-term reliability of modern cars in general and Kia in particular.
Arguably, an extended warranty might have made more sense, not less, decades ago when cars and their parts were notoriously unreliable and short-lived.
Several times you have mentioned lane-keeping assist as a potential costly repair. The first thing I did when I got the car home from the dealer was research how to turn off lane-keeping assist. It was an annoyance. The roads around here are curvy and narrow and it was frequently activating when I was in my lane but the lane was so narrow that I was too close to one of the painted lines for its liking. I do not see why it is needed (or even legal.) If I get too old to keep the car in my lane, I will hand over the keys.
I have a similar attitude toward the need for most of the “technology” items on the car. The GPS in particular is worse than worthless most of the time.
Kia has a reputation as one of the top brands for powertrain reliability. They cover that for 10 years or 100,000 miles. After that I am happy to take my chances on necessary repairs. In all probability, the powertrain will be trouble-free for more than 200,000 miles.
But the fact remains that no one has brought forth evidence of extended warranty saving them money beyond the cost of the warranty. All I have seen is worry that problems could arise (maybe) and that an extended warranty would pay the cost of repairs (a doubtful proposition in itself) in excess of the thousands of dollars the warranty cost.
Wayne
Is lane keeping assist always on in your Sportage? You actually have to turn it off? In most instances it's a feature you need to turn on/activate to use. For me, it's just a second pair of eyes in case something happens to distract me. If I were to get a really sharp pain in my chest and panic, it's nice to know that the car will stay in the lane as I slow down - or if I cannot slow down - slow down to a stop for me if need be.
In any event, having 6 people in a discussion and not having any of them demonstrate the value of an extended warranty isn't a whole lot to go on.
I think extended warranties are best for people who plan on keeping their vehicle for a long time. Many of these new features don't have a long history so it's not easy to predict how they'll react as time goes on. But, yes, generally, cars have become more reliable.Sure, but the overall reliability of new cars has gone through the roof, compared to the older, "non-tech" cars. And as far as electronics are concerned, if they are faulty and are going to fail, they usually do very early on. Could they be "zapped" by an electrical charge somehow? Sure, but generally not likely, if you aren't fooling around with them. Some Kia dealers and/or finance dept sales people often try to scare people into paying for these extended warranties (aka ripoffs) buy claiming that the electronics are covered for less time than the rest of the car and that they are expensive to replace. This specific example is all over these forums, so seems to be a dealer's "go to" scare tactic for selling these worthless policies. These warranties cost THOUSANDS of dollars. That buys a lot of repairs, even if it is a display that needs to be replaced someday (and most probably after the extended warranty expires!)...
When all is said and done, I don't criticize people for purchasing an extended warranty - or for casting it aside. People should do whatever makes them comfortable/happy.
The OP asked for pros & cons (i.e. opinions) on extended warranties. They are getting plenty. This is a good thing. Anyone being "critical" on here is just trying to save them money...I think extended warranties are best for people who plan on keeping their vehicle for a long time. Many of these new features don't have a long history so it's not easy to predict how they'll react as time goes on. But, yes, generally, cars have become more reliable.
When all is said and done, I don't criticize people for purchasing an extended warranty - or for casting it aside. People should do whatever makes them comfortable/happy.
I was exhausted by the time I got to see 'the documents guy" on this purchase and had no interest in an extended warranty so I'm unable to say what that was being offered for. I would think like most extended warranties it would be offered somewhere in the 10% of the cost of the car so what? $3to4K. No, no ,no honey.
It's okay, we can certainly agree to disagree.
Is lane keeping assist always on in your Sportage? You actually have to turn it off? In most instances it's a feature you need to turn on/activate to use. For me, it's just a second pair of eyes in case something happens to distract me. If I were to get a really sharp pain in my chest and panic, it's nice to know that the car will stay in the lane as I slow down - or if I cannot slow down - slow down to a stop for me if need be.
In any event, having 6 people in a discussion and not having any of them demonstrate the value of an extended warranty isn't a whole lot to go on.
“Lane departure warning” (I think that is the correct term), not full lane keeping, was on when I picked up the car. I found the way to disable it and have not been bothered by it since.I think extended warranties are best for people who plan on keeping their vehicle for a long time. Many of these new features don't have a long history so it's not easy to predict how they'll react as time goes on. But, yes, generally, cars have become more reliable.
When all is said and done, I don't criticize people for purchasing an extended warranty - or for casting it aside. People should do whatever makes them comfortable/happy.
Over 300 people had enough interest to view this discussion, yet not one has bothered to post a testimonial to having saved more than the cost because of repairs paid by an extended warranty, on a car or on any other product. I have heard numerous anecdotes of people having extended warranty claims denied, which inspires no confidence that claims would be paid, if the need should arise.
I keep vehicles longer than most. My last car, 20 trouble-free years, my pickup truck is 13 trouble-free years and counting. I think my shortest period of ownership was 13 years and I replaced that vehicle only because it no longer met my needs, not due to any reliability issues. My opinion based on experience and numerous reports of extended warranty companies finding any reason to deny coverage (provided they have not gone out of business in the interim) gives me every reason to believe that such warranties are a rip-off.
I am old enough to remember having to replace, belts, hoses, exhaust systems, shock absorbers, and tires every 2 years, plus changing oil and filters 4 times a year. This is not to mention adjusting valves or replacing valve adjusters, timing chains/gears, and an assortment of other parts on a routine basis. Today’s cars are blissfully low maintenance. I am happy to take my chances on paying to fix something in the unlikely event that I should need a repair.
Wayne
If I were in that situation, my reply would be, " Are you telling me that this car is so lacking in reliability that I should expect to need to spend more than $4K for repairs not covered by your warranty?" Try it, just to see the reaction.I was exhausted by the time I got to see 'the documents guy" on this purchase and had no interest in an extended warranty so I'm unable to say what that was being offered for. I would think like most extended warranties it would be offered somewhere in the 10% of the cost of the car so what? $3to4K. No, no ,no honey.
Wayne
I laugh out loud now every time I shop on Amazon these days, because invariably an offer will pop up to purchase insurance on every kitchen spoon and doohickie I buy. Who the heck keeps buying this crap and encouraging these silly warranty companies? Too bad almost no one seems to get Personal Finance courses during their educational years! Should be required.I was exhausted by the time I got to see 'the documents guy" on this purchase and had no interest in an extended warranty so I'm unable to say what that was being offered for. I would think like most extended warranties it would be offered somewhere in the 10% of the cost of the car so what? $3to4K. No, no ,no honey.
But then again, what would all the poor insurance companies do?
The purpose of insurance companies and the companies that offer extended warranties is to maximize profits and minimize risks. It is not to provide a needed public service. Insurance companies are at least regulated by the states to insure some minimal level of integrity. I do not think the same applies to companies offering extended warranties.I laugh out loud now every time I shop on Amazon these days, because invariably an offer will pop up to purchase insurance on every kitchen spoon and doohickie I buy. Who the heck keeps buying this crap and encouraging these silly warranty companies? Too bad almost no one seems to get Personal Finance courses during their educational years! Should be required.
But then again, what would all the poor insurance companies do?
Wayne