Just bought a 2012 Overland... warranty questions.
Hey everyone, as the title says, I just bought a CPO 2012 Overland with 28k miles. It has the basic 3 mo/3,000 mile bumper to bumper warranty on it, but I didn't get the extended warranty because the salesman was very shady and tried sneaking $2,600 into my monthly payments for a Zurich warranty. He didn't even tell me! Luckily I did the math myself before signing anything and brought it up to him, which is when he admitted to it. So, I told him I just wanted the vehicle, not some $2,600 third party warranty.
Now I have to make the decision as to whether or not I buy a b2b warranty or take the chance and own the vehicle without a warranty.
I called another local dealer for a warranty quote and this is what they quoted me:
Here are the Chrysler maxcare plans that are available on your vehicle...
PRE-OWNED (starts from warranty date of sale):
- 4yr/unlimited miles with $100D = $3,410
- 4yr/unlimited miles with $200D = $2,970
NEW-CAR (starts from original in-service date of 10/21/2011 and 0 miles on odometer, all with $100 deductible):
- 5yr/100k = $2,350 (this gets you an average of 23,580 miles per year of coverage)
- 6yr/100k = $2,750 (17,690 per year of coverage)
- 7yr/100k = $2,875 (14,150 per year)
- 8yr/120k = $3,250 (15,125 per year)
- Lifetime = $3,435
I did the math and also included the miles per year these plans will get you since the majority of them expire at 100k on the odometer and there's approximately 29,260 miles on the vehicle now. The only thing these prices aren't including is sales tax of course.
$3,500 for a warranty seems outrageous. Then again, this is the nicest vehicle I've ever owned (went from '90 and '95 XJ's, 2006 Subaru WRX, 2008 Subaru Legacy GT Spec.B, now Overland) and I'm deathly afraid of what it will cost if one of the many bells and whistles goes wrong, especially the QuadraLift.
The 6 year/80k warranty for my Legacy was $1,200 which is 1/3 of what the Chrysler warranty is.
You will be better off saving the $ in a bank account. Warranty's historically are a waste of money. Yeah you could get unlucky and be out the $$$ if you choose not to have one but in the long run you will save quite a bit without a warranty. I have had quite a few vehicles and the only one that I had an issue with was an 02 Trans Am that was a POS from the first day I bought it. I have been driving for 12+ years and put less than $3,500 into my vehicles. Have I been lucky? maybe, but had I taken the warranty out on every vehicle I have owned I would be well over $10k, probably closer to 15.
OP, you already have a 5yr. 100,000 mile Powertrain Warranty as you know. Any Chrysler product from '10 up. Even if it was a rental. And Zurich is not a good warranty. How often are you going to use the Quadra Lift? Once you get up to speed it lowers itself automatically anyways. I don't see many getting beaten on yet. To see if they hold up
I'm fairly handy and did all of my own work on my prior cars (except for clutch and belt jobs) but electronics, wiring, airbag suspension, etc. is what worries me. Not to mention, it's my daily driver so I can't afford to have it up in the air for a week or two while I troubleshoot and/or source parts.
How much is it to repair/replace the airbag suspension system if it fails? I could always buy a new/aftermarket headunit if the factory one fails. Heated/ventilated seats... I could probably figure out. Automatic rear gate, panoramic roof, etc. are all things that would worry me.
A warranty is like insurance. If you need it good thing you got it, but if you don't its money down the toilet. A 2012 should not have the issues you listed above unless it already had problems for the next 4 years.
I have a 2011 Overland sitting in the garage (with a purchased extended warranty on it) and the only thing that it's been back to the dealer for is oil changes and a set of new tires. I believe that the QC on the new Grand's is/was much better than in the past. Our air ride suspension has worked flawlessly, we don't have the panoramic sunroof, however our rear DVD has performed without a hitch, and our automatic lift gate closes and opens every time we hit the button.
In all honesty I don't see the air ride system giving any issues in the near future. However since it's a closed system I could possibly see 4 or 5 years down the road, but whatever warranty you get will be expired by then anyway. It's always a gamble when getting a used vehicle, but IMPO the money would be better spent earning interest in your bank account.