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Unread 07-20-2004, 08:11 PM   #1
Scott99999
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Join Date: Jul 2004
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Questions about Added Care and Extended Warranties

Hello,

OK, I'm in the final motions of buying my Libby at a good price. We got to the end of the process, and the one thing I haven't shopped around for is the extended warranty.

Well, there's an $800 difference in the dealer's initial quote and what I've found online (which also had a range).

Which leads me to a few questions:

1) Is it worth it?
2) Can you get the extended warranty from another dealer, other than the purchase dealership?
3) Is there a time frame in which you need to get the extended warranty?
4) Do they ever honor the warranties?

And lastly, does anyone know of any online pricing resources?


Last edited by Scott99999; 07-20-2004 at 08:14 PM..
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Unread 07-20-2004, 08:21 PM   #2
Steven73
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Quote:
Originally Posted by Scott99999
Hello,

OK, I'm in the final motions of buying my Libby at a good price. We got to the end of the process, and the one thing I haven't shopped around for is the extended warranty.

Well, there's an $800 difference between the dealer's initial quote and what I've found online.

Which leads me to a few questions:

1) Is it worth it?
2) Can you get the extended warranty from another dealer, other than the purchase dealership?
3) Is there a time frame in which you need to get the extended warranty?
4) Do they ever honor the warranties?

And lastly, does anyone know of any online pricing resources?
extended warranties suck. Take it from me...I've had experience with extended warranties. You get double coverage on things that the manufacturer already covers. They never cover ANYTHING that will really give you a problem, and exclude just about EVERYTHING that could go wrong. Many of these dumb policies also have deductibles. Do yourself a favor and forget the extended warranties. Use the money you save to buy accessories or to add to your downpayment. You'll be glad you did. Oh, by the way, extended warranties usually are not good for the do it yourselfers...like changing oil and filter etc.....Some of them actually tie you into using the dealer or a commercial establishment to do all your service.
I had two experiences with extended warranties, and both were really bad. I promised myself that I would never ever get one again....and if i could persuade others not to...then I'd feel one hell of a lot better about things!!!!!!......What it really is....is mechanical breakdown insurance. Do you have any insurance that you really like????????? I know I don't.....they're all a scam. Most insurance policies are mandated by lawyers and politicians....however...extended warranties are the buyers choice, and if you're smart.....you'll pass on it.....
Whatever you do..good luck....and I do feel better for venting.....
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Unread 07-21-2004, 01:43 AM   #3
roderunner
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After having three automatic transmissions rebuilt , we bought an extended warranty for my wife's 2000 Grand Caravan. I should also mention we live up a long, steep hill that seems to eat automatic transmissions. The pay off will be if this transmission stays true to form and fails! I'm betting on it! We'll sell the car before this warranty expires, and I suspect there is some economic advantage to selling a car still under factory warranty! (the original warranty on this car was only 36,000 mi.).

If you get one, purchase a manufacturer's policy. (independant warranty companies come and go). Price? Definitely negotiable, and can be purchased at any dealer. Our original dealer offered about 20% off. We bought it from another dealer for 50% off.

Having said that, I think they're generally a waste of money. They even make less sense if your vehicle doesn't have many power and electronic options -- there's less to repair!

Your new Liberty has a 70,000 powertrain warranty already, so how much would you gain with an extended warranty? There doesn't seem to be any big problems that a extra warranty would protect you against. Also, remember, you're paying a fee, even with the warranty, for any repairs covered under that warranty, so they're not useful for small problems. For the most part, they're a giant money maker for the dealers!

We've purchased two new cars since the GC (both stick shifts) and never even considered a supplemental warranty. Take a look at your own driving situation and "peace of mind" factor before deciding.
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Unread 07-21-2004, 05:16 AM   #4
Scott99999
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How about GEICO's MBI? Mechanical Breakdown Insurance?


http://www.geico.com/auto/mbi.htm

I was pricing insurance last night and found that...but it seemed to only add a few bucks to the premium. Maybe I'm looking at that wrong...anyone have experience with it?
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Unread 07-21-2004, 05:37 AM   #5
Renegade04
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Geico ext warr has a deductable for every item you claim. so if you have a bad ball joint and a oil leak from the oil pan then its 2 deductables. Even if you do both repairs on the same visit......
As far as others I will ont recommend aftermarket warranties. They are not worth the paper their printed on most of the time.
I work as a service advisor for VW and have been in the field for 5 yrs plus. Trust me you want the mfr ext warranty if you do any at all.
Mfg. ext warranties are a good thing if done right. I have it on my 04 Renegade. Yea you have powertrain warr till 70k but the rest of your Jeep isnt covered. With Jeeps ext warr most everything is with the usaual exceptions of wear items (brakes,hoses,etc...)
If your planning on keeping your Jeep for a long period of time then by all means yes get the ext warranty. If you plan on trading it in in the next 2-3 yrs than a ext warr is not for you.....
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Unread 07-21-2004, 08:00 AM   #6
keoki1197
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Try and talk them down.

When I purchased my KJ they asked me if I wanted the extended warranty. I asked how much more would it be and how much more would it increase my payments. When they first told me how much (I can't remember numbers now), I said no way. Then they dropped the price quite a bit and then I said, sure. So try to get them to go down on the price if you decide you want to get it. Like others have said, if you don't plan on having the vehicle that long (only a couple of years) then it is not worth it. Good luck!
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Unread 07-21-2004, 08:37 AM   #7
4Factor
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I pick up my Liberty next Friday (10 days incl. today!) I was debating the same thing just last night. As mentioned by others, I'd consider the manufacturers extended warranty or nothing... aftermarket warranties usually are after nothing but your money!

My dealer offered it in 1 year increments up to 7 years (115,000kms). I'm thinking of just covering the lease terms (4 years) rather than going whole hog and getting the 7 year warranty. Why? Because at 3 years 11 months if I decide I want to keep the vehicle, I could buy the warranty up to the original 7 years for no extra charges (just the difference owing). If I decide to return the vehicle at 4 years, then that's fine too, they're not getting my warranty that I paid for! The catch is, if I don't buy the warranty from the get-go, I can't buy FULL coverage later. I could buy one year's coverage now and do that each successive year, but I think I'm going to go for the 4 year plan and get it done with.

What I mean about FULL coverage not available later (and I really didn't get into a discussion about this) is that if I come back a year or two later and try and buy it, they'll pro-rate it and to the best of my understanding, they only cover a certain percentage of the cost of repair (or something like that). Also it's more expensive to buy it later.

Last edited by 4Factor; 07-21-2004 at 09:13 AM..
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Unread 07-21-2004, 08:50 AM   #8
Scott99999
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You can still take the warranty after taking receipt of the vehicle, correct?

Can I decide later? I realize it might be more expensive to do so the long I wait, but do I need to decide before I sign?


Also -- the other option I am looking at is a Lojack....anyone get one?
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Unread 07-21-2004, 09:50 AM   #9
Steven73
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Quote:
Originally Posted by Scott99999
You can still take the warranty after taking receipt of the vehicle, correct?

Can I decide later? I realize it might be more expensive to do so the long I wait, but do I need to decide before I sign?


Also -- the other option I am looking at is a Lojack....anyone get one?
If you buy a new vehicle you're wasting your money getting an extended warranty of any kind. The manufacturer's warranty from DC is all you need. Like I said, extended warranties are a scam.
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Unread 07-21-2004, 02:46 PM   #10
Sandman71
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Quote:
Originally Posted by Steven73
If you buy a new vehicle you're wasting your money getting an extended warranty of any kind. The manufacturer's warranty from DC is all you need. Like I said, extended warranties are a scam.
It's all in the eye of the beholder. I needed some major work done on a Neon I owned. The extended warranty saved me from paying 2300$ (I had paid 1000$ for the extended warranty). It's only perceived as a scam if your car doesn't break down to the tune of mega bucks to repair while under extended warranty.
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Unread 07-21-2004, 05:47 PM   #11
Steven73
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or it is a scam if everything that breaks down is excluded in the warranty. My motto is, if the car I'm driving needs a major repair before it reaches 100,000 miles, I'll never buy that brand of car again. That's the reason I refused to buy another Ford, and got a Jeep Liberty instead. I will never purchase another extended warranty on a new OR a used car. I even hate buying car insurance and homeowners insurance....and we won't even speak about health insurance....all insurance is a scam.
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