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Extended Warranty Coverage Yay or Nay
Rather than speculate on events that you may not live to see tabulated, why don't you provide some evidence to support your conclusions?
Replies
I asked you first. You talk as though you routinely buy extended warranties and that doing so gives you "peace of mind." What evidence can you give to support that belief? Anything beyond blind faith in what a car salesman told you?
In all your years of buying extended warranties, cite all the instances where the payout was more than the fee you paid.
I have passed up dozens of offers of extended warranties on a variety of products over a long life. Not once have I had an instance where I could have made a claim had I purchased one. I have saved myself many thousands of dollars.
The closest I came was a new 1980 Subaru. Each and every one had a “rust-proofing” applied when it got off the ship in the port of Baltimore. I had no option. I took the car for all the required inspections, etc. and when it started rusting (very prematurely) coverage was denied. They claimed (falsely) that the rust started from the outside. I don’t remember how much the rustproofing cost, but it was not only a waste, it actually hastened the rust. It was unusable from rust in about 9 years, the shortest period of time I have ever kept a car.
I invite any other readers of this forum to please pipe in with examples of when extended warranties saved them more money than they paid up front for the coverage.
In all your years of buying extended warranties, cite all the instances where the payout was more than the fee you paid.
I have passed up dozens of offers of extended warranties on a variety of products over a long life. Not once have I had an instance where I could have made a claim had I purchased one. I have saved myself many thousands of dollars.
The closest I came was a new 1980 Subaru. Each and every one had a “rust-proofing” applied when it got off the ship in the port of Baltimore. I had no option. I took the car for all the required inspections, etc. and when it started rusting (very prematurely) coverage was denied. They claimed (falsely) that the rust started from the outside. I don’t remember how much the rustproofing cost, but it was not only a waste, it actually hastened the rust. It was unusable from rust in about 9 years, the shortest period of time I have ever kept a car.
I invite any other readers of this forum to please pipe in with examples of when extended warranties saved them more money than they paid up front for the coverage.
"I asked you first' is playground rhetoric. I have stated nothing more than my opinion that an extended warranty on this car is a good idea. You, on the other hand, have offered supposed facts about odds and mob casinos and predatory rackets. Without substantiation, this leaves you in the position of a blowhard and a troll.
If you have such a poor opinion of the Kia and their warranty, perhaps you should have bought something you think more reliable.
My evidence is that I have for all my life declined extended warranties on new cars, appliances, etc., and not once have I had a problem that would have been covered by one. I have never heard of anyone coming out ahead because of buying an extended warranty.
On the other hand, you are either unable or unwilling to cite any examples of when an extended warranty saved you money.
But if handing over an extra couple of thousands of dollars gives you peace of mind, that is your choice. Get back to us in 10 years and let us know how it went.
My evidence is that I have for all my life declined extended warranties on new cars, appliances, etc., and not once have I had a problem that would have been covered by one. I have never heard of anyone coming out ahead because of buying an extended warranty.
On the other hand, you are either unable or unwilling to cite any examples of when an extended warranty saved you money.
But if handing over an extra couple of thousands of dollars gives you peace of mind, that is your choice. Get back to us in 10 years and let us know how it went.
Article from yesterday's Washington Post about Federal Trade Commission reaching an 8-figure settlement with an auto service contract company due to deceptive advertising and false promises to pay for repairs. “Instead of delivering the ‘peace of mind’ promised by its advertisements, CarShield left many consumers with a financial headache,” Samuel Levine, director of the FTC’s Bureau of Consumer Protection, said. Cut from he same cloth as the "extended warranties" car dealers use to boost their profits. The article cites many of the same problems noted in posts to this thread.
Wayne
Wayne
well ummm, kinda back on subject??? I bought an extended warranty once, on a new '06 Tacoma, when I took it in one time for a rattle in the window dealer finally took the door panel off and found the loose fragment AFTER I had a hissy with everyone I could find inside that dealership (now the execs are hidden away in a bunker I think) so if you're willing to go that far then may be worth it for your car, I did love that Tacoma but did not like the rattle.
Details, 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
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
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
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.