Warranty Question

[RLJ10X]

Answer the question.

 

[Jimmy07]

You've practically broken even with what you've paid so far. That means you've paid more for the warranty than you would have had for repairs? And that's great?

What am I missing?

Answer the question.

I’ll give it a try. I think I do alright with simple mathemication. Without know what he paid for the maxcare, I’ll use $2000 as an example. He’s had three repairs performed that would not have been covered if he did not spend $2000 for the warranty. If those three repairs would have cost him $2000 + whatever his deductible is out of pocket, then he has broken even. It would be the same as if he would have not gotten the warranty, set $2000 aside, then used that money to cover the repairs. The only difference being, with the warranty, he is still covered for future repairs. Now, if something happens, and it would normally cost $3000 out of pocket, it would be covered. In that case, he would have spent $2000 in order to get $5000 of repairs.

 

[Jrod]

I’ll give it a try. I think I do alright with simple mathemication. Without know what he paid for the maxcare, I’ll use $2000 as an example. He’s had three repairs performed that would not have been covered if he did not spend $2000 for the warranty. If those three repairs would have cost him $2000 + whatever his deductible is out of pocket, then he has broken even. It would be the same as if he would have not gotten the warranty, set $2000 aside, then used that money to cover the repairs. The only difference being, with the warranty, he is still covered for future repairs. Now, if something happens, and it would normally cost $3000 out of pocket, it would be covered. In that case, he would have spent $2000 in order to get $5000 of repairs.

Bingo, it’s not rocket science. Unfortunately some people are hellbent in disproving the advantages of buying the warranty.

 

[NorthStar1]

Here is the rocket science our buddy RLJ and other extended warranty naysayers appear to be missing: Most of us have term life insurance in the event our bodies break to the point of failure - and we don’t want our families left “holding the bag” on funeral expenses, no income, etc. Likewise, those of us with extended warranties know machines also break to the point of failure and don’t wish to be ”holding the bag” on the repairs, no transportation, etc.

 

[indept]

One of my all time favorite posts. I didn't write it.

Good you didn't write it because basically its ********
First, if you keep your vehicle for no more than a few years then you wouldn't want an extended warranty. Their for someone who keeps theirs for a longer time. And you would most likely go for the 8 year / 125k mile plan.
Second, the $100 or $200 deductible is per visit NOT item.

Third, if you change your mind and decide to sell it you can use it as a selling feature since it is transferable. The lifetime warranties weren't transferable but the regular ones are.

Fourth & final, the part about the transmission, sure if its a part that it accessible by dropping the pan like relays or it's a leaking seal they will just replace that but if it's an internal part, it's been mentioned a lot here that they replace the trannny with a new one. Same with engines, sometimes they replace the cam & lifters, other times they replace the engine with a new one.


Was that post written by Kurt Russell when he was making " Used Cars"......

 

[QwikKota]

Sounds expensive for such a short time period. Unless you already have 100k miles or a bad tick, I would chance another 2 years on the truck. Put That money in a savings account for repairs. Back when it was available, the lifetime warranty was only $2800 or so for comparison.

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[Jrod]

Sounds expensive for such a short time period. Unless you already have 100k miles or a bad tick, I would chance another 2 years on the truck. Put That money in a savings account for repairs. Back when it was available, the lifetime warranty was only $2800 or so for comparison.

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You are correct,

It’s not cheap. Just like most simple repairs are not cheap either, and prices continue to go up every year. I would enjoy waiting till 100k to buy coverage, but the cutoff is 48k. At which point you have to decide whether to buy or forgo the warranty. Truth be told, I never bought an extended warranty for my Neon, Neon SRT4, Jeep Liberty, Jeep Jk, Jeep JK unlimited, RAM ST QC, or RAM SLT CC because I’d only keep them a couple of years. This time I decided to keep my 16 sport and the wife’s 16 Challenger RT plus shaker. My sport has already proven it needs the warranty. As soon as the Challenger reaches 47k I’ll purchase the warranty for it too. The Challenger has the 8.0 head unit and two O2 sensors replaced under factory warranty. That alone would have ran me the cost of the extended warranty. In short, driving the wheels off both rides and having Maxcare removes the stress of repair costs, and allows me to do other things with my money.

 

[William Hastings]

My truck was new when purchased from Zeigler. 1200 for maxcare 8yr 75k with 100 deductible i thought was damn good. I also liked the price on the other 2 appearance packages. I only took that level cause i only do 6k miles a yr. Traded in a 9yr old suv that had 56k. In 8 yrs ill know if im keeping or trading it.

 

[QwikKota]

You are correct,

It’s not cheap. Just like most simple repairs are not cheap either, and prices continue to go up every year. I would enjoy waiting till 100k to buy coverage, but the cutoff is 48k. At which point you have to decide whether to buy or forgo the warranty. Truth be told, I never bought an extended warranty for my Neon, Neon SRT4, Jeep Liberty, Jeep Jk, Jeep JK unlimited, RAM ST QC, or RAM SLT CC because I’d only keep them a couple of years. This time I decided to keep my 16 sport and the wife’s 16 Challenger RT plus shaker. My sport has already proven it needs the warranty. As soon as the Challenger reaches 47k I’ll purchase the warranty for it too. The Challenger had the 8.0 head unit and two O2 sensors replaced under factory warranty. That alone would have ran me the cost of the extended warranty. In short, driving the wheels off both rides and having Maxcare removes the stress of repair costs, and allows me to do other things with my money.

You seem to have gotten lucky with Jeep products and no major issues. I love them but don't want to take the risk. I have been lucky with a Liberty and 2 Dakotas, my luck has probably run out.

Not sure which warranty you have on the Ram but the previously available lifetime warranty was almost a no brainer, especially at 2015 prices. So the best warranty available now only goes up to 123k miles?? That still seems like a waste of money to me as they are at least $2500, no? I too put less miles than time on my vehicles at the average 12k miles/year.

 

[Jrod]

You seem to have gotten lucky with Jeep products and no major issues. I love them but don't want to take the risk. I have been lucky with a Liberty and 2 Dakotas, my luck has probably run out.

Not sure which warranty you have on the Ram but the previously available lifetime warranty was almost a no brainer, especially at 2015 prices. So the best warranty available now only goes up to 123k miles?? That still seems like a waste of money to me as they are at least $2500, no? I too put less miles than time on my vehicles at the average 12k miles/year.

I almost hate selling the liberty. It was bullet proof. The Jeep Jk unlimited was a 2010 with the older V6. Around 35k miles it started burning about 2 quarts of oil a month.. FCA put out a statement saying it was normal.. So I got rid of it too..

Yeah, I wish I had jumped on the unlimited/unlimited plan back in October.. but I hadn’t made the decision to keep mine till March of this year. So the best plan for me was the 7year/unlimited plan, since we use my truck a lot. I think right now you can still get the 8year/125k. Which is what I’ll get for the Challenger. We don’t drive it as much. Hopefully their unlimited plan comes back when I’m ready to buy again.

 

[QwikKota]

I almost hate selling the liberty. It was bullet proof. The Jeep Jk unlimited was a 2010 with the older V6. Around 35k miles it started burning about 2 quarts of oil a month.. FCA put out a statement saying it was normal.. So I got rid of it too..

Yeah, I wish I had jumped on the unlimited/unlimited plan back in October.. but I hadn’t made the decision to keep mine till March of this year. So the best plan for me was the 7year/unlimited plan, since we use my truck a lot. I think right now you can still get the 8year/125k. Which is what I’ll get for the Challenger. We don’t drive it as much. Hopefully their unlimited plan comes back when I’m ready to buy again.

Unless I am reading it wrong the years of warranty begin when the vehicle was purchased. If new that would be 0 years/0 miles. I'm not really seeing the value unless you drive an insane amount of miles.

 

[Jrod]

Unless I am reading it wrong the years of warranty begin when the vehicle was purchased. If new that would be 0 years/0 miles. I'm not really seeing the value unless you drive an insane amount of miles.

Correct again, it starts from day of purchase. So my 7 year unlimited mileage bought me 4 more years bumper to bumper no matter how many miles I accrue. So far at 52k miles I’ve had my fuel management system, master cylinder, and fuel rail fuel sensor replaced under Maxcare. So as of right now I've literally broke even with what I paid for the warranty. If anything else goes wrong between now and July 30th 2023 I’ll be in the green, so that’s where the value begins and ends.

 

[QwikKota]

Correct again, it starts from day of purchase. So my 7 year unlimited mileage bought me 4 more years bumper to bumper no matter how many miles I accrue. So far at 52k miles I’ve had my fuel management system, master cylinder, and fuel rail fuel sensor replaced under Maxcare. So as of right now I've literally broke even with what I paid for the warranty. If anything else goes wrong between now and July 30th 2023 I’ll be in the green, so that’s where the value begins and ends.

Ok. Glad it worked out for you. I'm hoping to at least break even on mine but with lifetime they are going to have to take it from my cold, dead hands.

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[Jrod]

Ok. Glad it worked out for you. I'm hoping to at least break even on mine but with lifetime they are going to have to take it from my cold, dead hands.

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Haha! I hear ya!

 

[RLJ10X]

I'm a little curious Jrod, do you own that truck or does the bank?

Did you pay cash for the warranty, or did you finance it?

 

[DeckArtist]

I will never pass up an extended warranty. Have one now for 72k after the sale [41k on the truck when I bought it] so it will cover the truck until it hits 113k. Given the issues I have seen it will pay for itself before it expires and when it does, I will be looking at another one. Years don't matter with my situation cause I drive 30-35k a year back and forth to Dallas to build decks [hauling wood and tools daily]. Last two trucks were without any warranty, but I had a friend who worked on them for trade outs....since he is no longer in touch, the choice was clear.

Back when I drove classics daily it was fun working on them cause I always had buddies to help out, but I am 62 now and that ship has sailed.

 

[Dave2018]

I just signed up for the 8 year 60,000 mile package. I justified it by the fact that I'm still driving a 22 year old dodge ram with about 200,000 miles on it. The new truck I'm paying off and putting mostly highway miles on for now. When I retire in another year, I hope to have the new truck paid off and with 6 years still under warranty coverage instead of 1 year of factory warranty. I hope and pray that my new 18 will be as reliable and trouble free as my 200000 mile 98 has been. But I don't know.

This new truck, is all computers computers computers blech! There's no way I'll be able to do anything more than routine maintenance anyway.

 

[RLJ10X]

Our friend Dave is a prime example of when I said extended warranties are an emotional purchase made by scared broke people.

You want to stop being scared and broke? Quit buying crap that you don't need with money you don't have. Then you won't be distraught over how to fix it, if it ever breaks.

Don't take financial advice from broke people. You do what broke people do, you'll get what broke people have.

If you believe so strongly in extended warranties, Why don't you start selling them? There's real good money in it. $800 of your $2500 went to the guy who sold that scam to you .

That's just the harsh reality.

 

[Jrod]

I'm a little curious Jrod, do you own that truck or does the bank?

Did you pay cash for the warranty, or did you finance it?

You have such a hard on to prove your anti warranty stance that you want to dig into my finances? Firstly, how people spend their money is none of your business. Second, even if you knew, it won’t help you prove squat, for the simple fact everyone’s situation is unique. Give the keyboard a rest and grab some sunlight...

 

[LouM]

Our friend Dave is a prime example of when I said extended warranties are an emotional purchase made by scared broke people.

You want to stop being scared and broke? Quit buying crap that you don't need with money you don't have. Then you won't be distraught over how to fix it, if it ever breaks.

Don't take financial advice from broke people. You do what broke people do, you'll get what broke people have.

If you believe so strongly in extended warranties, Why don't you start selling them? There's real good money in it. $800 of your $2500 went to the guy who sold that scam to you .

That's just the harsh reality.

OK RJL10X;
When I bought my 2015 RAM 1500 eco-diesel, I also bought the extended warranty.
I'm retired and don't feel like doing the repairs that I used to do all the time,
I have swapped and rebuilt engines, I have pulled a transmission on a Friday rebuilt it and installed it on Sunday to be able to drive that vehicle on Monday for work.
Can I still do the work? Yes, do I want to NO.
A $2000 warrenty is a lot of money but replacing the 8.4 NAV radio unit IF it goes bad is worse.
As far as buyers of extended warranties being scared and broke, I damn sure am not scared and when I bought my truck I wrote a check for it, over and done.

You are entitled to your opinion but that is all it is, your opinion nothing more,
also you do know what is said about opinions don't you,
they are just like as_ holes everyone has one and they all stink except mine.
So get the heck off your damned high horse.