How many used their extended warranty for something worth while?

[Jbrubakerjr]

You can choose more than one answer if you used your extended warranty multiple times.

This is in the response to a question from a forum user, "Is the extended warranty worth it?" So how may have purchased an extended warranty, and how much have you saved in repair bills? Wanting to get more actual real data as opposed to just opinion.

Edit, tagging @Cheryl so she comes and looks at this as she was the one trying to decide...

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[LostMy65]

I've had around 8 new vehicles.
Never needed an extended warranty.
Although I bought the extended warranty on one, the part and time wasn't for the one time I used the extended warranty wasn't any where worth the cost of the warranty.
But I do have health, dental, vision, auto, home, etc. Insurance. Warranties are a form of insurance. You never know when you'll need it.

 

[LostMy65]

I have a few friends that are self employed and don't buy health insurance. They said the just pay as they go. When it's a larger bill they say they just negotiate a payment plan to pay it off. They've done it that way for years.
When I was self employed around 2008, it cost $700 a month for just my wife and I.
.
It's always that first time you need it that you wish you had it. Or were glad you had it.
.
I won't be getting it for my Ranger.

 

[DonB]

"Worth while" is subjective.

 

[dtech]

I've never purchased life insurance and at 70 yrs don't plan on buying any soon. What relevance is this to the post - I don't know but like lostmy65 I don't buy extended warranties on anything, have always been able to fix most sh*t myself and mostly enjoy doing that.

 

[rang19ca]

This is the first time I ever bought an extended warranty and it was a good thing I did. HVAC box replacement was covered after 3/36 coverage expired.

 

[Joeiconic]

I have a few friends that are self employed and don't buy health insurance. They said the just pay as they go. When it's a larger bill they say they just negotiate a payment plan to pay it off. They've done it that way for years.

And their medical providers pass along the difference to those of us who are insured.

 

[LostMy65]

I've never purchased life insurance and at 70 yrs don't plan on buying any soon. What relevance is this to the post - I don't know but like lostmy65 I don't buy extended warranties on anything, have always been able to fix most sh*t myself and mostly enjoy doing that.

Yeah, I made the point about insurance because someone in another thread compared buying the extended warranty like buying auto insurance.

 

[houseOfDogs]

I bought an 8 yr / 120K $0 deductible extended warranty on my wife's 2007 Honda Odyssey for $1200. For me, five years of additional coverage at $240 per year was worth it if only for peace of mind. Covered items that came up were probably somewhere between $800 to $1200. We ended up keeping it for 12 years. This was the first extended warranty I had ever purchased.

Similarly, I purchased the 8 yr / 125K extended warranty for my wife's Chrysler Pacifica Plug In Hybrid. This one was more painful as it was $2750 with $100 deductible. Again, I bought it for peace of mind, figuring $550 per year for years four thru eight were worth it as the van with all discounts and tax credits was $16000 off the $48495 MSRP.

So, on my Ranger, which will be driven minimal miles (just need a truck for occasional use on my ranch), I'll get the 8 yr / 48K $0 deductible for $775, or from my perspective $155 per year for years four thru eight.

And for the record, other than these vehicles, I have not and do not buy extended warranties.

 

[LostMy65]

"Worth while" is subjective.

I guess what I meant is the cost of the extended warranty was a lot more than what it paid for when I actually got to use it.
The extended warranty wasn't 'worth while.'
If the cost of the repair was more than the cost of the extended warranty, then it's worth while.

 

[Langwilliams]

I wouldn't have bought it if I hadn't read up on all the HVAC systems that needed replaced. I'm not known for owning a vehicle for a long time so the 6 year 75K warranty for under $800 was a small price to pay. When you only have one car buying the warranty that includes a loaner car for when your car in in the shop is a nice feature.

 

[NoTacos]

I never bought an extended warranty in a car till recently. Had it in our 2018 Escape - had a check engine light come on near the end of the extended warranty just last week. Dealer said it would 650.00 approximately for repair (I think that was way over priced to replace the purge valve) which included the diagnostic- but reminded them of the extended warranty and so only cost my 100 deductible. Was it worth what I paid for the extended - probably not but still had some piece of mind.
I bought it for the Ranger (8yr/160k km) when I bought my ranger last year.

 

[CB750F]

Never did. I really don't remember if it would have payed off on any vehicle. 1 car
blew the engine at 10yrs? Now, when the PHEV comes out & if I decide to get one, I might consider a warrantee or might lease & do the buy back if there are no issues encountered?

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