Question: Used Car Extended Warranty

[robinb]

Hi everyone!

My 2001 Saab 9-5 has been given me fits. It has been in the shop (under the factory warranty) lots for big ticket things. For instance, it is now running on its 3rd turbo. I say the car is gray on the outside and yellow on the inside. I want to trade the car in while it still has some value and get a new car. However ... (1) we are still paying on our Saab 9-3, (2) we don't want to take on any more debt load (just the car and our house, but that's enough!), (3) we usually keep our cars for 10 years and this is a 2001 and (4) my husband loves the darn car. In his defense, when it works properly, it is a joy to drive, very comfortable and one of the safest cars on the road. It's just yellow inside .

So, our compromise is to purchase an extended warranty on the thing. We owned Toyotas before the Saabs and had never considered an extended warranty. Now, I won't keep the car without one. Our dealer offered us a very expensive warranty (over $3K) through Warrentech. It goes to 48 months and 100,000 miles and the dealer says it's the same as my factory warranty. I also got a quote from Ultimate Warranty in OH for about 40% less for 48 months and 110,000 miles. It does not cover as much (like radio, CD player, etc) but it will cover the expensive things.

My questions:

(1) Do you have an extended warranty?
(2) What company?
(2) Does it actually cover your repairs?

BTW, I don't mind paying more for a warranty that will actually pay out when I need it.

Thanks everyone!!

 

[Rafiki Rafiki Rafiki]

My husband has an extended warranty on his truck from MasterTech.

It does cover all the repairs after a deductible, but you have to have advance approval prior to having work done.

It has saved us quite a bit of money so far.

 

[Cosmic_Charlie]

I dont know, these are generally not good ideas, you get alot of car repairs for 3k and I have owned a SAAB 9-5.

 

[tar heel]

We've had extended warranties on two newer used cars and two new cars. We've made money on all the warranties except one and have generally been pleased with what was covered. I've found that some repair places really work hard to see if things are covered and, for one of our cars, a mechanic went over it to see if there was anything wrong just before the warranty expired.

That being said, we've never been quoted a price even close to that high. Also, as Consumer Reports was nice enough to tell me before my last car-shopping trips, extended warranties are negotible. I got a couple hundred dollars off the price originally quoted -- I think we paid $1,300.

 

[robinb]

That being said, we've never been quoted a price even close to that high. Also, as Consumer Reports was nice enough to tell me before my last car-shopping trips, extended warranties are negotible. I got a couple hundred dollars off the price originally quoted -- I think we paid $1,300.

Prices for extended warranties are much cheaper if you buy it when you buy the car. I tried to convince my DH to buy the GM warranty (the same one that's on the Certified Pre-Owned cars) when we first bought the car two years ago when the car was under 24,000 miles and 24 months old. It was about $2,000 then but it's the best warranty for SAABs. The car, a 2001 now has 49,000 miles on it . Anyway ... one more blown turbo and we would be ahead even if we pay for the expensive coverage.

 

[C.Ann]

My warranties came with the mini van I purchased last week - a 2005 Chrysler Town & Country LX with the stow and go seats.. I have the remainder of the 3yr./36,000 mile bumper to bumper warranty and an additional 8yr./80,000 mile warranty that covers the big items (engine, transmission, etc.) and also includes roadside assistance for the 8yrs. or 80,000 miles (flat tire changes; out of gas; key lock out or frozen locks; battery jumps; towing; rental car; etc.).. It was a certified used vehicle, so I didn't have to pay for the warranties.. Smaller repairs are not a problem for me - either my son-in-law can do them or his best friend who is a mechanic by trade..