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 > Extended Warranty: Why do I need it?

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ApexAZ

Gilbert, AZ

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Posted: 09/10/21 10:58pm Link  |  Quote  |  Print  |  Notify Moderator

Sounds like what I suspected, so I think we'll just refuse it. Hopefully they honor the original OTD price they quoted. Thank you all for the replies! [emoticon]

pitch

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Posted: 09/11/21 07:04am Link  |  Quote  |  Print  |  Notify Moderator

Other than the box,RV,s are component construction. Each supplier warranties it,s own component.

wildtoad

Blythewood, SC

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Posted: 09/11/21 08:24am Link  |  Quote  |  Print  |  Notify Moderator

I’d ask if there are any other “goodies” they’ve priced in. The best two letter answer to most offers from dealers is NO. ask to see all the warranties that are in place (fridge, AC, water heater, furnace, etc), and note the length of warranty terms.


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Tom_Anderson

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Posted: 09/11/21 08:59am Link  |  Quote  |  Print  |  Notify Moderator

Most extended warranties that I know of can be purchased at any time before the factory warranty expires. You aren't required to get them at the time of vehicle purchase.

Dealers push them on buyers because they are very profitable for the dealer and the warranty company. Not so much for the buyer.

I've never bought one in my life, and have never wished I had.

valhalla360

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Posted: 09/11/21 09:05am Link  |  Quote  |  Print  |  Notify Moderator

In addition to the exclusions ask them for the guaranteed repair time and if they have to provide an equivalent unit while it's in for repairs.

Very common for warranty work to take months, since they have no incentive to get it done.


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Posted: 09/11/21 09:26am Link  |  Quote  |  Print  |  Notify Moderator

I agree with what's been posted so far. A couple more thoughts...

If you get a warranty from the dealer you probably will have to bring it back to them and they know it. So what happens when you are hundreds of miles from home? Be self insuring, put the money the dealer wanted for the warranty into a financial product that permits easy access but grows {even a little helps}. Failing that set aside money every month as consistently as you can to cover any unforeseen repairs down the road.

When you are self insured in this manner you get to decide who, when and where yourrig gets worked on and have the option to take it somewhere else if they can't or won't get er done in a timely manner.

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dodge guy

Bartlett IL

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Posted: 09/11/21 10:54am Link  |  Quote  |  Print  |  Notify Moderator

Also make sure they didn’t throw in any type of GAP insurance.

Although I’ve only seen it used once. The kid at work bought a Mustang and didn’t know they included it in the deal. Well the car got totaled and it was used! Probably the only time I’ve heard it work out for the purchaser.


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MikeDupont

TX

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Posted: 09/11/21 01:21pm Link  |  Quote  |  Print  |  Notify Moderator

Also, lets back up a step. imo, you shouldnt be trusting/using the dealership's financial guy. Check with your local credit unions and banks and i bet you find a better deal.

And fwiw, i never buy extended warranties. Sucker's bet- THEY have all the data AND decide if they will honor it or jerk you around until you give up.

winnietrey

seattle

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Posted: 09/11/21 02:14pm Link  |  Quote  |  Print  |  Notify Moderator

GAP insurance, may be something to consider, if you are going low down, and long term financing ( like 12 years). If so you will be under water for a long time. Make sure you get a policy you can cancel though, when you are at break even. Might bring some peace of mind. JMHO

ApexAZ

Gilbert, AZ

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Posted: 09/11/21 03:50pm Link  |  Quote  |  Print  |  Notify Moderator

MikeDupont wrote:

Also, lets back up a step. imo, you shouldnt be trusting/using the dealership's financial guy. Check with your local credit unions and banks and i bet you find a better deal.

And fwiw, i never buy extended warranties. Sucker's bet- THEY have all the data AND decide if they will honor it or jerk you around until you give up.


I called our bank plus a couple credit unions and he actually found a better rate through B of A @ 4.25%, which was more than a full percent lower than the quotes I got direct from the others. Perhaps I could do better if I spent more time on it. We took a 20 year loan to keep the payment minimum and we'll try to pay it off in 5, but I thought that was a decent rate for such a long term loan.

dodge guy wrote:

Also make sure they didn’t throw in any type of GAP insurance.

Although I’ve only seen it used once. The kid at work bought a Mustang and didn’t know they included it in the deal. Well the car got totaled and it was used! Probably the only time I’ve heard it work out for the purchaser.


winnietrey wrote:

GAP insurance, may be something to consider, if you are going low down, and long term financing ( like 12 years). If so you will be under water for a long time. Make sure you get a policy you can cancel though, when you are at break even. Might bring some peace of mind. JMHO


I hadn't thought about GAP, but I won't be surprised if that's slipped in there. The insurance we got will replace it with a brand new one in the first 5 years. Then they'll cover the cost of the original financing for the rest of the time we own it. So it basically has GAP built in (better, even) and we'll be sure to keep an eye out for that and decline it when we go to sign.

We are driving to go see it in person tomorrow and do a thorough walkthrough to look for anything that may need fixing.

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