Ram lifetime max warranty ??

[coobie]

Thinking about purchasing the Lifetime max warranty for my 2016 Ram 2500 with the 6.4 hemi engine.I have had a few small issues,the back camera,and rear park sensor acting goofy both were resolved my my ram dealer.My truck has 32,000 miles on the OD.The price I was quoted for the max lifetime warranty was $3,000 bucks.Good deal or not? My plan is to run this truck 15 years if possible.. For those who have purchased this same plan how do you like it? Thanks for any info..

 

[TRCM]

search this website...there are several places you can get it from, and most are cheaper than that.

I got mine thru Clay Robbins @ robbinsmotors

You have to get it before you cross 48 mo or 36k.

Mine was 2400 with 100 ded......I got it @ 47.5 months.......

 

[huntergreen]

Agree with above, shop around.

 

[coobie]

Have shopped around local dealers here in michigan $3,000 was my best price.

 

[TRCM]

Again, you don't have to buy it from a local dealer (my dealer wouldn't even return my calls on a guaranteed 2500 sale)..........I am in VA, and Clay was in KS I think

 

[Pull Ya]

Do you do your own maintenance? Do you ever foresee adding anything to your truck that is not a OEM part, including items such as, oil filter, shocks, aftermarket muffler etc etc. The reason I ask is I think you will find(maybe in the fine print)that if you ever install or have installed anything other than an approved OEM part, they can cancel your warranty. Somehow these "Lifetime Max Warranty" are supposedly not a regular "factory warranty" they are classified as a "contract" and they are not subject to the same Federal law protections that usually protect consumers. There are a couple of recent threads about these "warranties" on the forum. I have not personally read and compared the warranties, and this information comes from other members.
Jay

 

[coobie]

Again, you don't have to buy it from a local dealer (my dealer wouldn't even return my calls on a guaranteed 2500 sale)..........I am in VA, and Clay was in KS I think

I have a call into clay this evening but he was out of the office.

 

[TRCM]

I emailed him.... I think his new email is [email protected]

 

[coobie]

Clay was $2,850,my dealer was $3,000.Bought the life time max care from my local dealer today.Thanks for the input..

 

[SteveRG]

Bought mine last week from my local dealer, $2560 w/$200 deduct.

 

[RLJ10X]

I'm curious what on earth would persuade some one to pay $3000 for an extended warranty?

Do you get your $3000 back after a certain time, if you don't have a warranty claim?

Is your money gone for good?

Tell me you didn't finance attended warranty.

 

[coobie]

I'm curious what on earth would persuade some one to pay $3000 for an extended warranty?

Do you get your $3000 back after a certain time, if you don't have a warranty claim?

Is your money gone for good?

Tell me you didn't finance attended warranty.

Replace the transmission and tell me its not worth $3,000.You seem somewhat nosey..How in the hell I spend my money is NONE of your business,but if your curious I paid CASH for my truck and CASH for the warranty.How about you mr.nosey.did you pay cash? Hell I paid cash for my 2018 SRT Challenger to.How about them beans $$$

 

[Pull Ya]

Love the way that car looks!!!!!!!! I have been thinking about one and that pictures doesn't help much----LOL
Jay

 

[RLJ10X]

If you are smart enough to pay cash for everything, as do I, then I assume you know that on average, if you put your $3000 in a TD Ameritrade type account, your $3000 will double in 7 years. Your tranny, unless you pound on it like a 16 year old, which I assume you don't, will easily last 7 years. But let's suppose after 7 years your tranny goes pop. If you invested your $3000 instead of letting the dealer earn money on your money, you have $6000 sitting aside for the repair. If the tranny doesn't go pop, which is the likely scenario, you have $6000.

Money reproduces itself. That's how the rich get richer. That's how dumb truck drivers like myself obtain a seven figure portfolio at the age of fifty eight.

As far as being nosey, I didn't hack into your finances my friend, you posted it on the internet, for the word to see, and comment on.

 

[coobie]

If you are smart enough to pay cash for everything, as do I, then I assume you know that on average, if you put your $3000 in a TD Ameritrade type account, your $3000 will double in 7 years. Your tranny, unless you pound on it like a 16 year old, which I assume you don't, will easily last 7 years. But let's suppose after 7 years your tranny goes pop. If you invested your $3000 instead of letting the dealer earn money on your money, you have $6000 sitting aside for the repair. If the tranny doesn't go pop, which is the likely scenario, you have $6000.

Money reproduces itself. That's how the rich get richer. That's how dumb truck drivers like myself obtain a seven figure portfolio at the age of fifty eight.

As far as being nosey, I didn't hack into your finances my friend, you posted it on the internet, for the word to see, and comment on.

Hey genius maybe you should quit your day job and become a investment broker.The wife and I are both retired with pensions and have investing for the last 40 years plus our 401 K plans.How about that? Hell you remind me of Jethro Bodine from the beverly hillbillies,he was a mathematical genius also.Keep up the great work you will go far.

 

[OMW2SKI]

I'm curious what on earth would persuade some one to pay $3000 for an extended warranty?

Do you get your $3000 back after a certain time, if you don't have a warranty claim?

Is your money gone for good?

Tell me you didn't finance attended warranty.

The last new vehicle I bought was paid for with cash. It's my wife's 2014 Chrysler Town & Country minivan. It was actually about 9 months old and had 3K miles, so it was deeply discounted. We still have it and she'll drive it until it's worn out. However, now in my late 30's, with 3 kids at home, and 2 not so far away from college, I wasn't really in a position to pay cash for my 2018 Ram. However, I was able to finance it comfortably. The payment is a very small percentage of my monthly income and, besides a mortgage, we don't really have other debt.

The warranty was $2,560, not $3,000. I plan on keeping this truck for the next 10 years or so, as that will be an expensive time in my life with kids in college, etc. One major(ish) issue and the warranty pays for itself. I bought the warranty after the fact, so it isn't rolled into my truck loan. You can, but don't have to, finance the warranty. If you do, interest free financing via MOPAR is available.

The Lifetime Warranty is refundable on a prorated basis for the first 7 years / 100K miles. So, if my plans change and I do sell the truck, I will be eligible for a partial refund.

There are several scenarios where the math probably doesn't work out. But in other scenarios, it works out just fine.

I've worked in the financial sector my whole career and know how to work these numbers and weigh the risks vs. rewards. Your Dave Ramsey method isn't always spot on - or even ideal. No need to be be so judgy, yo!

 

[MADDOG]

Gentlemen,

A spirited debate is always welcome.

Name calling is not. Please remain civil with each other.

 

[RLJ10X]

The S+P 500 advanced 19.4% last year.

They made $486 off of your $2560, last year alone. That could have been your $486. Plus, you'd still have access to your $2560 in case of an emergency.

Car companies make more money from financing and extended warranties than they do selling cars.

 

[mtofell]

I'm curious what on earth would persuade some one to pay $3000 for an extended warranty?

Do you get your $3000 back after a certain time, if you don't have a warranty claim?

Is your money gone for good?

Tell me you didn't finance attended warranty.

Gone for good down a ********* hole.... but for as long as I own my truck I worry about nothing (other than the $100 copay which I promise I will not finance ). It's a business expense and a business decision so I don't have any unexpected repair expenses. If not for this warranty I'd likely be trading at the end of the bumper to bumper warranty. Trading and buying every 2 years (I do about 18K per year and bumper to bumper is done at 36K) is A LOT more than the 2300 I paid for my warranty back in 2014.

I'm at 4.5 years, 75K miles and all is well. Clear title is in my desk drawer.

These lifetime warranties can be a good deal but you must keep the vehicle many years and must not do a bunch of mods.

 

[coobie]

The S+P 500 advanced 19.4% last year.

They made $486 off of your $2560, last year alone. That could have been your $486. Plus, you'd still have access to your $2560 in case of an emergency.

Car companies make more money from financing and extended warranties than they do selling cars.

Pay attention to your own/money and investments and quit commenting about how everyone else should invest/spend there money.You think the stock market never takes a dump in numbers remember 2007-2009? Post these numbers the S&P lost 50% of its value and the DJIA hit a market low in march 2009 of 6,443.Why not post those figures mr.stock investor?Thought you might need some help with your figures.Remember the stock market is not such rosy picture as you portray it to be.