Extended Warranty - To Buy or Not to Buy - JeepForum.com
 
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post #1 of 13 Old 01-04-2018, 06:29 PM Thread Starter
taraesque
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Extended Warranty - To Buy or Not to Buy

Hi everyone,

With any luck, I will soon be the owner of a 2017 Compass Limited 4x4 and I am super excited. Before I head off to the dealer to do the car sales person dance, should I consider an extended warranty? I'm of the personal theory that I should save money, and if I need to shell out money in the future, then so be it. My husband has some concerns because numerous people have told him about problems with their Jeeps that would have been covered by the extended warranty if only they had purchased it. So I wanted to do my due-diligence, and find out here.

So, yay or nay to extended coverage?

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post #2 of 13 Old 01-05-2018, 06:11 AM
Kev M
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I once took the time to calculate the amount of money I'd saved in my lifetime by NOT buying extended warranties on cars, trucks, bikes, even electronics.

I've already saved enough to, in theory, pay for a new vehicle in cash.

I think that if you buy new or gently used vehicles you generally would be throwing money away on extended warranties.

I understand the temptation if money is tight, but if you are making payments anyway, will have a factory warranty for a few years, and are still worried about it, try this.

Increase your payment say $25/month, but PAY THAT to yourself in a savings account. That's at LEAST how much you would add to a loan or would have to come down with cash to pay for an extended warranty.

By the time a new vehicle is out of a base 3 year warranty you would have about $1k in the bank to pay for an unexpected repair.

But if you don't need it, then you have savings to keep for future repairs.

Keep that up the life of the vehicle and you'll likely have thousands in the bank when it's time to buy another and NOT but a warranty again then.

Sure cars can break, but these days even the "worst" should easily break 100k miles. And unless you're going to exceed that in 3-5 years, I wouldn't worry about it.

Two more points

1. You have to be self-disciplined enough to save it.

2. Warranty companies wouldn't exist unless most customers didn't "need" them. It's like insurance, it's an unsustainable business model if the odds were in the favor of the purchaser.

Current Jeep: 2016 JKUS - My Mall/Beach/Dunes/Forest crawler - lightly modded
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post #3 of 13 Old 01-05-2018, 09:18 AM
cranbiz
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It really depends on how long you are going to keep your vehicle.

I normally don't purchase extended warranties either but I did opt for the Mopar MaxCare Lifetime warranty for my new 2017 Grand Cherokee Trailhawk. I plan on keeping this vehicle for a long time and with all the electronics on it, one repair could pay for the warranty. Of course, it could go it's entire lifetime and not need an expensive repair and I would be out the money I paid for the warranty.

If you do choose to purchase one, only buy the genuine Mopar MaxCare warranty. Most dealers try to push a 3rd party warranty, not as good as MaxCare but much more profitable for them. My dealer tried that and I stopped them dead in their tracks. Told them either you quote me the Mopar plan or I was buying it elsewhere. Oh and by the way, I can get the Lifetime Mopar plan for X dollars from an online Chrysler dealer so you better sharpen your pencil.

So, if comes down to a couple of things.
1) Do you have the discipline to save the monthly payment you would be paying to self insure yourself? If yes, then don't buy one.
2) Is it worth up to $3000 up front for your peace of mind? If yes, buy a Mopar plan
3) Are you going to trade the vehicle within 3-5 years? If yes, then don't buy. You will be covered by the manufacturers warranty for the first 3 and the powertrain warranty the next 2 years.
4) Do you plan on keeping this vehicle for a long time like 10 years or more? If yes, then buy the lifetime Mopar MaxCare warranty. You can get those from online Chrysler sources for under $3000 and within 10 years you will probably experience a major repair and the warranty pays for itself. Max Care is honored at all Chrysler dealers and the lifetime plan comes with road assistance, rentals during service and trip interruption. It covers everything except consumables.

I didn't buy one on my JK for several reasons. Most of them were that the mods I would be doing down the road would be potential things to void the warranty and I didn't think we would have it more than 5 years. The things I did have to have fixed mostly happened early on and were covered under the 3 year / 36000 mile factory warranty. I have had to replace a battery and a starter out of warranty but this cost was less than the cost of the extended warranty so I'm ahead of the game at this point. The ball joints and tie rod ends would not have been covered as they were due to one of my mods, larger tires.

02 WJ Laredo, heavily optioned but stock
12 JK, 3.5" Teraflex/Franken lift, Bilstein 5100's, BFG KM3's 37x12.5/R17
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post #4 of 13 Old 01-05-2018, 10:13 AM Thread Starter
taraesque
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Hi Kev M and cranbiz,

Thanks for your answers, I do appreciate it! I will give it some thought.

And to answer your questions, I plan on keeping this Jeep for a very long time, until it stops working. I won't need any financing as I've already saved enough up to buy outright, so I could just keep saving money for future repairs. Since I want all the bells and whistles, I worry about the higher priced items going in the future. I won't be making any mods.


Question : I had a 1999 Cherokee that I loved, and sadly, hit a deer with. It did a lot of damage and even after insurance paid for repairs, it was never right again. After lots of investigation, it was determined that accident had cracked the engine block, and I needed a new engine. And I couldn't afford a new engine at that time. In this circumstance, would warranty take over, or is it only for stuff where a radio stops working or there is a funny clicking noise?
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post #5 of 13 Old 01-05-2018, 10:28 AM
cranbiz
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Well, that really isn't something that I think a warranty would cover but you never know. That would be in how it's presented to the dealer and to Chrysler when an adjuster comes out.

Something like that should have been covered by your insurance company as part of the repair. Hard to fault the manufacturer for damage due to a collision.

02 WJ Laredo, heavily optioned but stock
12 JK, 3.5" Teraflex/Franken lift, Bilstein 5100's, BFG KM3's 37x12.5/R17
17 WK2 Trailhawk
KN4BBA
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post #6 of 13 Old 01-05-2018, 10:37 AM
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You were in a accident that caused the engine block to crack. How would jeep or any warranty cover that. Should have been part on the first repair. paid for buy your INS>.

guess im to slow this am.

reminds of the threads of jeeps that get swamped and they take them back to see if the warranty covers it. Even here in many cases would have been covered buy the INS. if it had full coverage.

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post #7 of 13 Old 01-05-2018, 10:52 AM Thread Starter
taraesque
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I was pretty sure a warranty wouldn't cover it, but just wanted a sanity check :-)

And my insurance at the time sucked...said that I couldn't prove the engine damage was from the accident since I didn't discover the long term issues until much later... I have since changed insurance companies.
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post #8 of 13 Old 01-05-2018, 10:52 AM
Kev M
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Cran covered it very well.

If you're paying cash AND are thinking of owning it for a very long time, you MIGHT be a good candidate for the Jeep lifetime warranty. But read the fine print about service and inspection by the dealer at a certain point.

Current Jeep: 2016 JKUS - My Mall/Beach/Dunes/Forest crawler - lightly modded
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post #9 of 13 Old 01-05-2018, 12:00 PM
arbakken
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FWIW, it is absolutely impossible for a deer to crack an engine block in a collision.

I personally am with Kev, keep saving (which it sounds like you already do!) to cover repairs. A warranty, like any insurance, is gambling. Red is betting on failures, black is betting on reliability. Spin the wheel?
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post #10 of 13 Old 01-05-2018, 03:47 PM
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Quote:
Originally Posted by taraesque View Post
Hi everyone,

With any luck, I will soon be the owner of a 2017 Compass Limited 4x4 and I am super excited. Before I head off to the dealer to do the car sales person dance, should I consider an extended warranty? I'm of the personal theory that I should save money, and if I need to shell out money in the future, then so be it. My husband has some concerns because numerous people have told him about problems with their Jeeps that would have been covered by the extended warranty if only they had purchased it. So I wanted to do my due-diligence, and find out here.

So, yay or nay to extended coverage?
Pre-congrats on your Compass

If you'd like to talk to our Mopar Vehicle Protection Plan team about our service contracts, here's the contact info:

1-888-240-2709
Monday - Friday: 9:00 a.m. - 8:00 p.m. ET
Saturday: 10:00 a.m. - 3:00 p.m. ET

You can also go here and fill out an online form to receive a call back: https://www.mopar.com/jeep/en-us/car...pecialist.html

Kori
Jeep Social Care Specialist
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post #11 of 13 Old 01-11-2018, 12:12 AM
paulr121
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Buy the lifetime warranty -bumper to bumper. But donít buy it from the dealet snd certainly donít finance it.

Chrysler will sell it to you direct, with zero percent financing. If you use a good cash back credit card to pay the monthly payments, you can even make a few bucks back on the cost.

If, God forbid, you are in a wreck or even just sell the car, they will also refund you a prorated amount back.

Itís a no brainer really.


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Jarrell Jeepers Paul & Karen -
2018 Wrangler Unlimited JK Rubicon Recon. (Ruby Recon)
2016 Grand Cherokee Limited 4x4 (Maxine)
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post #12 of 13 Old 01-17-2018, 07:34 PM
flyin-lowe
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There is a dealer in Kalamazoo MI that sells them basically at cost. Many have reported getting the max care from him for around $2,200 or so, depending on year and mileage. They are a gamble in my book. The first used Durango I got "came with one" and a couple years into I had to have a new tranny put in and all it cost me was $100.00. I would say over all if they were being used more often then not they would cost a lot more. Kind of like the casino hitting on 16 in blackjack, if it didn't work more times then not for them they wouldn't do it.
For that price I am considering getting one for my new JKU sport because I plan on keeping it for quite some time. Most vehicles I have owned I have put enough miles on them that the warranty probably could have paid for itself. I was getting nickle and dimed and that's why I got rid of them.
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post #13 of 13 Old 12-02-2020, 10:42 PM
eshep
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Anybody know if warranties from here are legit? chryslerwarrantydirect.com. I saw a referral from another forum. The price quote for the same coverage as the offer I got from Mopar.com is $1000 less. I have a 2018 GC Trailhawk, 35K miles. Mopars Ext. quote was $3840 for 7/100,000. Chryslerwarrantydirect.com is $2885 for 7/125,000. Input is appreciated.
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