Extended Warranty - Please Opine

[tidefan1967]

2016 and newer only have a 5/60K powertrain warranty. 2015 was the last year for 100K unless it’s a diesel.

 

[Skrap]

What I meant was, are you looking at the right vehicle for your son?

Ummmm, we already have the truck for our son. So, tell me, what is the right vehicle for my kid?

For the other comments, I get your sentiment on extended warranties with a lot of things we purchase. I can't blame you for not thinking it is financially a sound decision. I am also aware that these extended warranties have saved people on many occasions from having to dig deep into their accounts to pay for repairs. I posted up 12-16 months ago about the Ram 1500 company truck I drove that had to have the Hemi replaced at approx. 78K miles to the tune of approx. 10K. It wasn't under warranty and luckily the multi-billion $$$ company I work for payed for it; their truck.

FOr me, there are just too many mechanical parts and pieces that I/He won't be able to fix along with all the computers and electronics this truck has. IMO, too much **** can go wrong to not have some coverage.

 

[huntergreen]

Ummmm, we already have the truck for our son. So, tell me, what is the right vehicle for my kid?

For the other comments, I get your sentiment on extended warranties with a lot of things we purchase. I can't blame you for not thinking it is financially a sound decision. I am also aware that these extended warranties have saved people on many occasions from having to dig deep into their accounts to pay for repairs. I posted up 12-16 months ago about the Ram 1500 company truck I drove that had to have the Hemi replaced at approx. 78K miles to the tune of approx. 10K. It wasn't under warranty and luckily the multi-billion $$$ company I work for payed for it; their truck.

FOr me, there are just too many mechanical parts and pieces that I/He won't be able to fix along with all the computers and electronics this truck has. IMO, too much **** can go wrong to not have some coverage.

I also believe in coverage. I have the lifetime warranty on two vehicles. I missed the part where you already have the truck. I can't answer what the right vehicle for you kid is, can only tell you you what worked for me. One got a Honda CRV, good mpg room to carry stuff to the dorm and a good reliability record. No repairs while in college. Now has 180000 miles on routine maintenance. In recent years, she is 29 now, it needed an alternater and one other item, I think it was a power steering pump. Younger daughter took my 08 JKU, with the lifetime powertrain warranty that was included with the purchase.

 

[RLJ10X]

I don't doubt the $10,000 engine replacement by a multi billion dollar California company happened. $10,000 engine replacement happens when someone is spending someone else's money, and is an atypical, extreme worst case scenario.

Here in the Heartland, Indiana, a coworker had a big Chevy 6.2 (I think) replaced for $6K, cut and dried. He put in a Jasper Reman in. Says it runs like a top.

With some of these warranties costing close to $4,000, the risk doesn't seem to justify the reward. Like I always say, it's an emotional purchase. Makes someone feel good. Never mind that on average, it's like burning $100 bills.

 

[sgt_kermit]

I purchased from Zeigler in May and got the 7 yr./unlimited mileage warranty for $2,600 something on my 2017 1500 Laramie, with 35,000 miles at the time. I looked online first then called and the rep gave me an extra $150 off, and they did 12 month interest free financing. I'm not sure if prices go up or down based on location lived, but that may have something to do with it. Like you, I just wanted the peace of mind, and I know for certain I will have way over 125K, in the next 5+ yrs. Good luck!

Sent from my SM-G965U using Tapatalk

 

[Jim Bowker]

There is absolutely, positively, no way I'd buy an extended warranty for a high school kid. Here's why:
1) There is a reasonable good chance he'll crack it up within the first year. Young drivers tend to get into accidents.
2) Even if he doesn't get into an accident, you may not have any problems that get covered by an extended warranty.
3) Even if he doesn't get into an accident and you do have some mechanical issues, and those issues are covered, it may still be far less than the warranty cost.
4) If he doesn't get in accident AND he does have mechanical issues AND they are covered under the extended warranty AND they exceed the cost of the warranty, well then it was finally worth it.

Just think, if I add up all the money I'e saved over the years by never buying an extended warranty, any repair under $30,000 still leaves me on the plus side.

 

[boblonben]

So, I have two Ram trucks. One is my 2015 2500 Megacab I bought new and purchased the Maxcare Lifetime warranty with it from a dealer I did not purchase the truck from and paid approx. $2450 or so. Totally happy with it so far.

Now I bought my son a 2017 1500 Laramie that he will be driving for the next two years in high school and through four years of college. At that point he can sell it after he gets an adult job and buy whatever he wants at that time..

Here is the deal. Truck is 2017, has 29,400 miles on it and I want there to be no issues especially with fixing trucks if there are mechanical issues for the next 6 or so years. I don't want any big repair costs since college tuition is already going to be expensive.

I know a lot of you in other warranty threads have recommended Zeigler Auto Group, a Chrysler dealer back in Michigan area, to get quotes from and they have "great' rates on the Mopar Warranties. I am looking at getting the 8 year 125K mile Maxcare warranty. Here is what they quoted me.

Zeigler seems very expensive and the guy on the phone had no desire to give discounts or anything.
8 Year 125K Miles $100 Deductible - $4145
8 Year 125K Miles $200 Deductible - $3865

Now I am looking on the Chrysler Warranty Direct website and they are showing the same plan for:

8 Year 125K Miles $100 Deductible - $3200
8 Year 125K Miles $200 Deductible - $2900

Do any of you have any other recommendations on places to purchase Factory backed warranties? Wont do 3rd party. Other threads people were talking about some discount codes they got. From where? What is your opinion? Don't want to hear from the peanut gallery about "don't buy extended warranties, they're a scam" Don't waste your time. Thanks in advance.

I bought the 8 year $200 deductible one, Chrysler one.. That's the best deal

 

[KeithP]

Personally I would never consider an extended warranty. Maybe I’m just a gambler but never felt they were worth the cost. I have a 03 1500 QC 4.7 2WD. Engine failure at 135K but I’ll take the blame for that. Pulling too big of a horse trailer too fast into a headwind uphill. Not one of my better driving decisions. Had the engine rebuilt by a custom machine shop. $4,500.00. Truck currently has 208k on it. Runs like a sewing machine, not a drop of fluid leaks anywhere and the tranny has never been touched. You have an engine replaced by a third party warranty company and you’ll get the least expensive mass production rebuilt crate engine they can find that day. Invest the money you would spend on the warranty. Let it earn some interest and when the truck DOESN’T break because you’re smart enough not to pull too much, too fast uphill into a headwind you can give the money to your kid to go towards his trade and be an even better dad than you are now.

 

[chrisbh17]

I liked (still do) the idea of MaxCare, especially Lifetime. Probably closest to bumper to bumper you can get, fixed by the people that know how to work on them with parts that came on them, etc.

But in practice Im starting to wonder....as I (attempt) to use my factory warranty and keep hearing "normal" or "not excessive" or "could not reproduce", I start to wonder just how useful (or rather, useless) a warranty like MaxCare will really be in the years from now if I attempt to use it.

 

[RLJ10X]

Kermit, and a lot others say they bought it for "Piece of Mind". Sounds like an emotion to me.

Now, I'm going to give you a short story why My Emotions (part of the many reasons) won't let me get ripped off by one of these scams. Early December of last year, a friend of mine, 39 died of a massive heart attack. He left a wife and 3 little girls. The next day, I got a phone call. When I picked up, the jerk on the other side said: Mr _____, How many miles are on your Mustang? Being bummed out by the loss of my friend, I wasn't in a particularly good mood. I promptly replied: That's none of your damn business. And things went down hill from there. The little ******* said he was going to blow up my phone. And boy, did he! He gave my number to every telemarketer in the nation. I had to turn my phone off. The next day, I got on the No Call List. Downloaded No more Robo.

I know, not everybody that sells those extended warranties are quite that ****. But those warranty salesmen are taking a big chunk of what you paid for that warranty, and sticking it in their pocket. I'll burn my truck down before I'd give a nickel to one of those assholes.

Google "Dave Ramsey on extended vehicle warranties". He'll explain it well.

 

[Stacey Power]

I have never in my life bought an extended warranty for anything until now. My last Ram 2500 4x4 diesel was 15 yrs old when I sold it. Any issues on it I was able to fix it myself, never took it to a shop or dealer. But my new 2018 Ram 3500 SRW 4x4 is way different! Tons of electronics etc. You can't even see past the top of the engine when you pop the hood.
So for these reasons I went with the 8/85000 for $1825 = peace of mind for sure!

 

[JimW124]

Do yourself a favor and go with the Chrysler warranty. It will never be questioned. . I spent 30 years running Chrysler and Dodge dealerships and it's hassle free . As always read the last page for exclusions. Good luck

 

[1500canoe]

Warranties are not warranties are not warranties. Anything involving a cold-call on your phone and 90% of aftermarket or even dealership offered third-party warranties are utter garbage.

However, the MaxCare warranties are different and backed by the manufacturer. On this forum they are generally regarded as NOT garbage. Personally I have lifetime MaxCare because I run things until they are dead, and you can hit $3500 in repairs without trying if you keep these things for more than 5 years.

FYI, the prices on the MaxCare warranties go up annually in April, and I believe that Lifetime has been discontinued. Over 12,000 miles they also start getting more expensive, as others have said.