Extended warranty.
Administrator
Joined: Jun 2004
Posts: 11,315
Likes: 247
From: Tulsa, Oklahoma USA
Dealers make s killing selling extended warranties. Most are never used. You could put that cash toward future fluid changes, tires and or brakes, which are most likely not covered by that warranty. If you take care of your S, chances are, it will last a long time before needing major work. Ultimately, it's your call.
I would take some time to examine what exactly it covers and ask yourself how likely or unlikely it is that any of those components will experience a mechanical breakdown, keeping in mind your driving style. AP2s, when properly driven and maintained, rarely have issues when it comes to the big ticket items, i.e. engine and transmission.
Joined: Jul 2003
Posts: 13,471
Likes: 35
From: Upstate NY
Cash it in, but put the $1000+ in a savings account to fund future repairs.
If you add up all the repairs that a warranty would have covered in my 35 years of car ownership the cost was less than buying the extended warranty on one car.
If you add up all the repairs that a warranty would have covered in my 35 years of car ownership the cost was less than buying the extended warranty on one car.
Registered User
Joined: Oct 2009
Posts: 3,792
Likes: 1
From: New Market, AL
Originally Posted by Reckon' timestamp='1421334112' post='23469034
Have you had one of the local area gurus take a look at it?
I haven't had anyone look at it other than my dad (he is a mechanic) and he says it runs amazing. I was talking to Brett about getting the valves adjusted, but I'm actually going to see my dad this Saturday and he said he could do it. If it breaks down, yes I'll have the money to repair it, but it will suck. At this point though, I really feel that it's a very strong running car without any issues. I will keep it for the drive to ATL and back, so if something does happen, it will be covered. Other than that though, I think I'll take the money and use it towards the car.
Registered User
Joined: Jan 2012
Posts: 1,040
Likes: 2
From: West Texas
These cars are extremely reliable (with proper car) and fairly easy to work on. Plus, if you're like most of us (give it time, you will be), you won't want anybody else touching your car (especially the dealership yahoos).
The math is simple; extended warranties are massive money makers (my s came with a year of coverage, and I never used it). If the warranty companies didn't come out ahead, then they wouldn't be in business. The simple fact that they are in business is proof that, in the end, they win.
Are there exceptions? Of course there is the rare example of a warranty covering a big repair. But, you can't judge their value by a single repair; you have to average it out (not just for one car, but for all the extended warranties you purchase during your life).
Same goes for appliances, electronics, etc.
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Joined: Oct 2012
Posts: 228
Likes: 0
Originally Posted by Conedodger' timestamp='1421414604' post='23470375
Cash it in, but put the $1000+ in a savings account to fund future repairs.
If you add up all the repairs that a warranty would have covered in my 35 years of car ownership the cost was less than buying the extended warranty on one car.
If you add up all the repairs that a warranty would have covered in my 35 years of car ownership the cost was less than buying the extended warranty on one car.
These cars are extremely reliable (with proper car) and fairly easy to work on. Plus, if you're like most of us (give it time, you will be), you won't want anybody else touching your car (especially the dealership yahoos).
The math is simple; extended warranties are massive money makers (my s came with a year of coverage, and I never used it). If the warranty companies didn't come out ahead, then they wouldn't be in business. The simple fact that they are in business is proof that, in the end, they win.
Are there exceptions? Of course there is the rare example of a warranty covering a big repair. But, you can't judge their value by a single repair; you have to average it out (not just for one car, but for all the extended warranties you purchase during your life).
Same goes for appliances, electronics, etc.
The point for extended warranties is for risk averse people to get piece of mind they won't pay more than X amount in X time period. I think for Japanese cars it is less of a worry than a german car.
Registered User
Joined: Jan 2012
Posts: 1,040
Likes: 2
From: West Texas
I get the point of them, but when you talk numbers (like the OP is asking about), they don't make sense.
