has anyone purchased an aftermarket car warranty like Carchex etc? Would it be worth it for a 5 year old vehicle? I just bought the wifey a Mazda CX9 and I am curious about a warranty as it does have higher mileage. However, I am not sure how much a warranty would cost and if it would be worth it. I also have no idea which company I would use. Thanks for any help =)
aftermarket car warranty ??
- Thread starter nxhappy
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Typically, I don’t buy extended warranties as I consider them a big money maker for who ever sells them and little or no benefit to you. The cost of a warranty is usually as much as or higher than a potential claim within the warranty lifespan, if you have a claim.
The vehicle you have seems to be a reliable car and most likely never abused ( like a potential sports car). I would guess the warranty would cost quite a bit based on age and mileage of your vehicle. I would have a good mechanic inspect the vehicle mechanically and then determine if you can sleep comfortably at night without the coverage.
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The vehicle you have seems to be a reliable car and most likely never abused ( like a potential sports car). I would guess the warranty would cost quite a bit based on age and mileage of your vehicle. I would have a good mechanic inspect the vehicle mechanically and then determine if you can sleep comfortably at night without the coverage.
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The car was recently inspected and maintenance done. It runs excellent and drives excellent. I was just thinking about future possibilities. I have no idea what a policy would cost, I am just reaching out for opinions =)
Get a quote on a warranty for your car and see if it makes sense. I would think a warranty would cost upwards of $1500 for may be 3 years. If the cost is $500 to $700 for three years, I would consider. Im betting it will be a lot more than that. Let me know what you find out. My parents were offered a Chrysler warranty on a new car purchase with a 7 year coverage period for $2700 as a starting point.
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We recently bought a 16 edge and they offered one for $2200. When we said no they came back with what if it cost $1800? They were really hard sell on this thing. As said if it was $500 for three years maybe. But at that price it would probably not cover much.
Higher mileage equates to what? If your car has over 75,000 miles and you plan on keeping it for 4-5 years you may want to consider it purely for peace of mind. If your motor or transmission goes out you’ll be out of pocket a significant amount of funds whereas if you had a warranty it would be a $50-200 deductible. Lastly, with a higher mileage vehicle a warranty will cost you more to buy simply due to it being a higher risk of something going wrong.
For those who want 5-7 years of coverage for $500-1,000.....get serious. At $90-110 per hour for a mechanic plus the cost of parts one small issue on a newer vehicle in today’s day and age costs well over $1,000 in and of itself.
I've dealt with car warranties outside of the manufacturer's warranty. I can tell you they are almost useless. Nearly every car that I've called the rep of the warranty provider have said they won't cover the repairs or will pay very little. As in maybe $200.00. In my opinion they aren't worth the trouble.
so you had a warranty (not factory) and they denied your claim ??
No I'm an auto tech. My customers have had aftermarket warranties and I've called their warranty providers. Very rarely are the needed repairs ever covered, and if they are they pay very little.
In 2012 Dodge was offering unlimited/life of the vehicle for $2400. I am kicking my self for not taking that offer.
^^^^this, most aftermarket warranties aren't part for part like factory warranties and getting them to cover anything is like herding cats.
I'd personally pass on any extended, but if you do one, pick factory extended.
The only time I told a family member to buy a factory warranty was back in 2002 with Chrysler. Their cars were so poorly built and transmission problems galore, a warranty would be wise. I think it was a 7 year, 70,000 mile warranty at the time. Guess what: transmission needed replaced under warranty in year 5. If I recall, Chrysler had a real crappy tranny under different model numbers to hide the real problem in different models. Other than that, Im a big no on after market or extended warranties
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Most of them are complete scams. Expensive and cover little to nothing if you actually go to use them. Better off just putting the cost of the warranty aside in a savings account and using that for repairs.
For my old Mercedes...it was a total waste of money. I canceled the warranty and the car lol.
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