Those warranties are a waste of money

 

Im torn on the 3rd party warranties. While most people I talk to say they are a waste of money, you should consider what its covering, how much the warranty is per year (do some math) and compare it to how much it would cost you out of pocket to fix something significant that would otherwise be covered under the warranty. Also, look for fine print in the warranty. While the warranty may say it covers entire drive-train, it may exclude items like water pump or even timing chain (you never know!)

When I bought my 2001 GT I added a 5 year 100,000 mile (on top of existing miles) drive train warranty for $900. Thats $180/yr insurance policy on the engine and transmission. I have yet to file a claim on it. Some folks told me I was an idiot. But even though the car only had 50k on it when I bought it, I didn't want to worry about an out of pocket expense if something big/expensive had to be repaired.

That being said, a friend of mine bought an extended warranty for his Mountaineer from the dealership he bought the SUV from. 2 years later the engine blew. Called the warranty company... Out of business.

Careful what you get. It could be a money saver or a waste.

 

"aftermarket" warranties are waste of money if you ask me

nice L