Re: vehicle extended warranty

Posted by JD Seller on July 05, 2016 at 21:20:59 from (208.126.198.123):

In Reply to: vehicle extended warranty posted by dlbuck on July 05, 2016 at 20:23:33:

I sold new farm equipment and the extended warranties are a real good profit center for the dealership and OEM. About 30% stays right at the dealership when you buy the extended warranty. That is why they push them so hard. Many times they make much more on the extended warranty and finance fees than they do on the actual sale.

So the only time I ever consider an extended warranty is if it is a costly vehicle to repair. An example would be a diesel pickup truck. Even then I look real hard at the cost your paying up front for the warranty that you may not ever use. Also read the fine print on the extended warranty. Most people assume that the extended warranty is just like the OEM warranty you get with the new vehicle. Most extended warranties are NOT even close to what the OEM warranty was.

An example: A fellow I know has a Dodge 1/2 ton pickup. He bought the truck with low miles, used. He bought the extended warranty that Chrysler offered. A year goes by and his truck starts to run rough and knock. He had it towed to the dealership and they find that the motor bent two push rods. I guess that is not uncommon on his model of engine. The warranty would only pay for the two that bent. Even thought these where on two different cylinders the warranty would not even pay for the mates of the bents ones to be replaced. Do not even think about the ones on the other head. To have them all replaced parts and labor was over $750. He paid $4000 for the top end extended warranty too. His extended warranty was a sucker bet on his truck.

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