I think in the end extended warranties would be more reasonable and an easier sell if the commissions paid to dealers selling them for the insurance companies were not so high.
If you buy one you also have the hurdle of getting your claim paid. So many stories of people filing a claim and they couldn’t prove a maintenance thing was done and they get nothing.
I ended up cancelling the one I initially purchased with KIA.
I did purchase one on a truck I purchased in 2020 when there were some good deals before things went insane due to Covid. Got a one year old Ram 1500 Hemi with 7,000 miles on it for $18,000 at carmax. The deal was so good I went for the extended warranty. Six months after purchase my calipers froze up and couldn’t drive the vehicle. It was a late Friday so couldn’t get a mechanic to take the job and carmax was useless. I had to take the truck on a trip on Sunday and ended up doing the job myself. Cost me a few bucks in parts and I asked the extended warranty company about covering the parts cost and they wouldn’t since I wasn’t an approved vendor.
The extended warranty is over and never filed a claim. Waste of money.
If you buy one you also have the hurdle of getting your claim paid. So many stories of people filing a claim and they couldn’t prove a maintenance thing was done and they get nothing.
I ended up cancelling the one I initially purchased with KIA.
I did purchase one on a truck I purchased in 2020 when there were some good deals before things went insane due to Covid. Got a one year old Ram 1500 Hemi with 7,000 miles on it for $18,000 at carmax. The deal was so good I went for the extended warranty. Six months after purchase my calipers froze up and couldn’t drive the vehicle. It was a late Friday so couldn’t get a mechanic to take the job and carmax was useless. I had to take the truck on a trip on Sunday and ended up doing the job myself. Cost me a few bucks in parts and I asked the extended warranty company about covering the parts cost and they wouldn’t since I wasn’t an approved vendor.
The extended warranty is over and never filed a claim. Waste of money.