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OT - Extended Vehicle Warranty

Discussion in 'Off Topic Threads' started by cpd544, Nov 12, 2011.

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  1. cpd544

    cpd544 Member

    Joined:
    Jun 23, 2009
    Messages:
    220
    I want some opinions on an extended warranty for a vehicle. I have a 2003 Nissan Murano that I have owned for 3 years. I bought a 3 year extended warranty with it which expires next month; it cost $1600 at the time. During the time I have owned the car I have used the warranty several times for repairs that cost right at $3000. I can extend the warranty for 2 more years for $1500 and it pretty much covers the car bumper to bumper. I have nothing but good experience with this warranty company and that have paid for everything no questions asked. My big dilemma is do I pay the $1500 to extend it or just put the money in the bank for repairs if they occur keeping in mind an auto repair can easily cost over $2000. By the way my Murano has 68000 miles and the transmission is warranted through Nissan for 100,000 miles but that is all. I realize anything can happen but just wanted some opinions or your experience in this.

    Jim - cpd544
     
  2. argus tuft

    argus tuft Member

    Joined:
    Jun 3, 2007
    Messages:
    194
    Location:
    Queensland, Australia
    It's an 8 yaer old car heading towards the end of it's economical life, generally extended warranties are geared around not paying, they have more hooks out than a long line fisherman, but you indicate you have had a good experience with this company.

    Things you would need to consider is how many miles do you expect to travell in the next 2 years, currently the car is averaging 8500 miles per year so you will be well within the Nissan wty on the gear box, you have already had $3000.00 back so if you throw another $1500 at it you will only be out of pocket $100.00 and if you make a claim you will certianly be in front.

    You would also need to consider what the car is worth now, add the $1500.00 to it and see how much you would need to spend on the car in the near future ie: Tyres, brakes and any big services around the corner, add all this together and it might be more economical to buy a new car,remember in buying a new car you get everything new including licencing for the first year and there are some great deals out there as the car companies are really hurting.

    It really depends on what you are expecting from this car and how deep your pockets are

    Argus
     
  3. GW22

    GW22 Active Member

    Joined:
    Feb 19, 2008
    Messages:
    6,246
    On average, extended warrantees are a bad idea economically, especially if they aren't thru the actual manufacturer. After all, that's how they generate profit. They do provide some peace of mind, but it's often expensive peace.

    Interestingly, in many cases more profit is made on an extended warranty than on the warranted product itself. For example I knew a guy who got rich selling waterbeds back in the '80s. He told me his company sold over 5,000 extended warranties before they ever lost money on one. The extended warranty was for "3-Years" but the mattress manufacturer's own warranty covered the first two. They sort of left that part out of the sales pitch, LOL.

    He used to joke, "I don't sell waterbeds -- I sell extended warrantees and throw in the waterbed for free."

    -Gary
     
  4. Desert Hiker

    Desert Hiker Member

    Joined:
    Sep 7, 2008
    Messages:
    452
    Location:
    Arizona
    Assuming you expect to keep the car another two years and the good fortune you've experienced so far with the warranty company speaks volumes. The consideration is the older the car gets, just like us humans, the more likely we are to break down and I'm not sure what cost more to repair, a person or a car...Ron
     
  5. grntitan

    grntitan Well-Known Member

    Joined:
    Mar 25, 2009
    Messages:
    17,225
    Location:
    IL(The gun friendly Southern Part)
    Take the money you would sock ino the Extended Warranty and put in an account. Add a little money to it here and there. It will be there should something go wrong with the vehicle. That can't always be said for the Extended Warranties. They love to weasel out of paying. Just Say'n...........
     
  6. trapshootin hippie

    trapshootin hippie Well-Known Member

    Joined:
    Apr 9, 2007
    Messages:
    5,291
    Argus, where is it that you "get everything new including licencing for the first year"? I have always had to pay for my own license plates on every car I bought.
     
  7. omgb

    omgb Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    1,759
    Location:
    Santa Clarita, CA
    Run, don't walk, to the dealer and dump that Murano. The first three years of production are rife with failures. That tranny is a 6 grand replacement. I had one, and here's what it cost me...

    Rear wiper motor....$750 covered under EX Waranty
    Door locks .........$725 covered under EX Warranty
    Alternator and ideler cam $1150 covered under EX Warranty
    Front and Rear Struts $1,100 not covered under EX Warranty
    Cat Converter at 82K ...$2,800 not covered under waranty (Calif version)
    Elecetric Seat Control driver's side ...$850 covered under EX Warranty

    I got rid of that dog after 3 years. That cat and collector replacement was the final straw.
     
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