Extended Warranty should I?

[Jrod]

It is amazing to me that someone would pay $2400-3200 to pay for something that probably won’t break in the future.

Now that's good trolling LOL. My maxcare is hardly three months old and it's already near paid for itself... They've replaced my fuel management system and master cylinder.

 

[RLJ10X]

You’ll always hear about the minority that came out ahead. Just like you always hear about the guy that won at the casino. But you seldom if ever hear about the loser.

Re-read the word “probably”. Over all the odds are against you. The warranty companies have to pay occasionally. If not, no one would ever buy them.

EW are often an emotional purchase. Makes you feel good.

Troll? Try again I’ve been called worse for simply disagreeing.

 

[cnitty]

I now look at it as you can't fault one for purchasing a piece of mind.

But you can't fault an individual who's willing to play the odds which are in their favor that nothing major will happen to the vehicle while they own it.

 

[RLJ10X]

^Exactly. If you want to spend your money on one, by all means do so. I’m just trying to point out all aspects of one. Jrod is still money behind, and is happy about it.

But again, mathematically on average they don’t work out for the buyer. If EWs did, the warranty companies would go broke.

 

[DeckArtist]

For most people who don’t drive more than the normal 12,500 to 15,000 miles a year it’s probably not worth it..... I drive 30 to 35,000 miles a year and I guarantee you something is going to break in the next 3 to 4 years and my truck is just under 74k now. The last two trucks I have had it's been the transmission...u joints..bearings,etc. So given that you have to look at how much it cost to rebuild the transmission, and also take care of anything else that breaks in the next 90-120,000 miles. Will it top the cost of an unlimited mileage warranty?

How much for rebuild cost on a 65RFE transmission? What’s the average age and mileage of the truck when it needs that rebuild? What about water pump, u joints, front bearings, rotors, etc?


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[Scott Nugent]

I would buy one if I could have a do over. After factory warranty had expired,I had to repace shocks, struts, water pump and electric rack and pinion. All before 75k.

I

 

[Jrod]

^Exactly. If you want to spend your money on one, by all means do so. I’m just trying to point out all aspects of one. Jrod is still money behind, and is happy about it.

But again, mathematically on average they don’t work out for the buyer. If EWs did, the warranty companies would go broke.

Having a 3 month old 7y/unlimited mileage policy, valid till July 30th 2023, for $2700, which has already paid out over 2k. Yeah, you bet your sweet ass I'm happy about it! The likelihood I'll surpass what I paid by the expiration date is also very high...

 

[Jessica Smith]

Now that's good trolling LOL. My maxcare is hardly three months old and it's already near paid for itself... They've replaced my fuel management system and master cylinder.

Weak troll, this is better, no?

 

[Jrod]

For most people who don’t drive more than the normal 12,500 to 15,000 miles a year it’s probably not worth it..... I drive 30 to 35,000 miles a year and I guarantee you something is going to break in the next 3 to 4 years and my truck is just under 74k now. The last two trucks I have had it's been the transmission...u joints..bearings,etc. So given that you have to look at how much it cost to rebuild the transmission, and also take care of anything else that breaks in the next 90-120,000 miles. Will it top the cost of an unlimited mileage warranty?

How much for rebuild cost on a 65RFE transmission? What’s the average age and mileage of the truck when it needs that rebuild? What about water pump, u joints, front bearings, rotors, etc?


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I'm right there with ya. I'm only averaging 20k a year. I'm at 50k on my 3rd RAM, and things are already being covered by maxcare. I had never bothered with extended warranties before, but I decided to keep this RAM. I wish I had jumped on the unlimited/unlimited coverage before it was discontinued last November... Regardless, I'm still happy with my 7yr/unlimited which was also recently discontinued. They've taken and replaced the unlimited / unlimited plan in the past. I hope it's back when I buy my next RAM 4-5 years from now.

 

[RLJ10X]

The allure of something for nothing, is hard to resist. It's a shame that not many come out ahead.

Do you know the guy who is really happy about your $2700 warranty? The guy who sold it to you. He more than likely put $1000 of your money in his pocket.

Are you making payments on that $2700? If so, you paid even more than $2700. On top of that, It's kind of like making payments to the guy who took your $1000.


Did you pay a deductible? That gets added into the equation. For $2700, I hope not.

 

[DeckArtist]

Having a 3 month old 7y/unlimited mileage policy, valid till July 30th 2023, for $2700, which has already paid out over 2k. Yeah, you bet your sweet ass I'm happy about it! The likelihood I'll surpass what I paid by the expiration date is also very high...

Where did you get yours? I'm getting that same price quote for a three year policy.


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[DeckArtist]

I'm right there with ya. I'm only averaging 20k a year. I'm at 50k on my 3rd RAM, and things are already being covered by maxcare. I had never bothered with extended warranties before, but I decided to keep this RAM. I wish I had jumped on the unlimited/unlimited coverage before it was discontinued last November... Regardless, I'm still happy with my 7yr/unlimited which was also recently discontinued. They've taken and replaced the unlimited mileage plan in the past. I hope it's back when I buy my next RAM 4-5 years from now.

I just got quotes from 1 to 4 years with unlimited mileage but they are very pricey. Going to shop around to see who else has better pricing. The payments are available. So far the first quote is half down but zero interest on any of it so you’re not actually paying more for it to pay it out. there is a flat fee added to pay it out of $180 or $280 depending on the length of the payout.

That’s not so much as to discourage anyone from doing that. So far all I see are people saying how happy they are to have had them when things go bad. Where are all the people who are mad because they bought it and then didn't use any of it?


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[buddy guy]

there's a good amount of "it will never happen to me" involved in insurance, warranties. It would be interesting how many would not purchase car insurance if they weren't required to. If not for the issue of not being able to control other drivers actions, I bet there would be a lot!

 

[Jrod]

Where did you get yours? I'm getting that same price quote for a three year policy.


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www.chryslerwarrantydirect.com

Initially I was pissed because you could get the unlimited warranty for another $200 when it was available.. I bought mine back in April.

 

[DeckArtist]

Bummer...they do not quote vehicles before 2015.

 

[Jrod]

Bummer...they do not quote vehicles before 2015.

Yeah, the cutoff is 4 years or 48k miles. I grabbed mine at 46k miles.

 

[cnitty]

I agree with you in life people don't talk about their failures or regrets mostly just the victories.
But it doesn't mean there's something wrong with the individual who wants to pay for a piece of mind.

I just got quotes from 1 to 4 years with unlimited mileage but they are very pricey. Going to shop around to see who else has better pricing. The payments are available. So far the first quote is half down but zero interest on any of it so you’re not actually paying more for it to pay it out. there is a flat fee added to pay it out of $180 or $280 depending on the length of the payout.

That’s not so much as to discourage anyone from doing that. So far all I see are people saying how happy they are to have had them when things go bad. Where are all the people who are mad because they bought it and then didn't use any of it?


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[Jrod]

The allure of something for nothing, is hard to resist. It's a shame that not many come out ahead.

Do you know the guy who is really happy about your $2700 warranty? The guy who sold it to you. He more than likely put $1000 of your money in his pocket.

Are you making payments on that $2700? If so, you paid even more than $2700. On top of that, It's kind of like making payments to the guy who took your $1000.


Did you pay a deductible? That gets added into the equation. For $2700, I hope not.

Disappointed, your trolling has weakened...

If selling these plans generate $1000 each in commission I'm in the wrong line of business LOL... In addition, I don't care if in your fantasy world he pocketed 100% of my money, as long as my RAM is covered...

Throwing random numbers to justify your distaste for buying coverage is educated as believing nothing will ever go wrong with your truck..... /bogglesthemind

 

[Site-r]

So, when you look at financing the cost of a less than 4 year old Ram diesel, with less than 48,000 miles, a lot of us will have problems coming up with the money and the monthly payment ($4000 for my son-in-law) if we don’t have extended warranty.
I never carry extended warranty on a used car less than $20,000.

 

[Jrod]

So, when you look at financing the cost of a less than 4 year old Ram diesel, with less than 48,000 miles, a lot of us will have problems coming up with the money and the monthly payment ($4000 for my son-in-law) if we don’t have extended warranty.
I never carry extended warranty on a used car less than $20,000.

Ouch, yeah, 4 grand is a hard pill to swallow.