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Should I buy EXTENDED WARRANTY for my new car?

1K views 8 replies 7 participants last post by  wolfen1086 
#1 ·
Hey guys,

This week and I will go out and buy my new car. I have narrowed it down to the 2015 Honda Accort Sport edition. I went to test the car yesterday and I really like it. The car has pretty good handling, power, very responsive, and it has plenty of room on the interior.

I am debating on whether or not I should buy the ***EXTENDED WARRANTY*** for my car. I was reading mixed reviews about extended warranties online, some favored it and others say it's a waste of money. The extended warranties are NOT cheap either, average cost around $1,500 dollars.

I spoke to my local mechanic and he says it's a GAMBLE...you will either use it or not. He says to be very careful in reading the contract as well since the extended warranties doesn't cover everything on my car.

Please provide your inputs on extended warranties when you can. I would like to hear your great/horror experiences in dealing with extended warranties. Thank you very much everyone, I highly appreciate it.
 
#5 ·
In forty-five or so years of driving although I've had a few had "service bulletin" repairs (mini-recalls for specific issues) done within the initial warranty period, none of my vehicles had any problems that would have been covered within an extended warranty period. Most didn't start needing repairs until over 100,000 miles.

Also, if you read posts on the automotive forums you will find that those trying to get extended warranty service oftentimes either find that their warranty doesn't cover the problem (most extended warranties really cover very little and not such things as belts, hoses, gaskets, exhaust, brakes, pumps, etc. that are what usually goes out). Even if a warranty covers some of the problem, most find that they still have to fork over a substantial amount of money because parts and services ancillary to the repair are not covered.

Also, be aware that an automobile may have specific extended warranties already. For instance, my Tacoma had a 60k powertrain and 5-year rust warranty in addition to the 36k standard warranty. Furthermore, all vehicles will fall under a federal emissions control warranty in the US.
 
#9 · (Edited)
Personally I'd drive it until teh factory warranty is nearing its end then decide if you need a extended warranty
But YES read it VERY carefully I looked into one for my wife's 08 F-150 cause well....its used and the warranty covered everything except moving parts. But it is a gamble, you'll either need it or not
 
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