5 Things you need to know about A Car Extended Warranty

Every time you buy a car you best believe the fiance manager is going to pitch you an Extended Warranty. In this video, I share with you what the manager won't. And How to negotiate it for your car deal.
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#Chevrolet #Louisville
You can now find me at my own dealership in southern Indiana. My wife and I started Mike’s Car Store Located in Georgetown, In. Where Buying a Car Doesn’t Have to Suck™

We specialize in Late model Used cars for all types of buyers. If you have challenged credit we can definitely help you and ensure you don’t get scammed or pay too much. If you are a cash buyer or have excellent credit we will be glad to help you as well.

[clifbradley]

Mike is dropping knowledge. Yet some people refuse to pick it up because they know better. Just remember, like YAA on YouTube says..if it's taxable, it's negotiable

[randyneary]

My wife's Rav was on the final month of the 7yr extended warranty of her car when the alternator and AC went out. That warranty was the best money I spent. The next three cars I bought all have extended warranty, I also negotiated the price down on all of them. One thing I learned from Chevy dude is negotiate every step of the process, price of the car, trade in, extended warranty and financing. It can be weary but worth it.

[Blackjack]

My current car is a 2007 Mazda CX9. I purchased it in 2017 with 54K miles. Since the car was already 10 years old I purchased the dealer's Extended Warranty through Mazda. The cost of the contract was $1300. I have always purchased the warranty with every car that I have ever purchased. Most times the warranty went unused. This time I was extremely happy that I made the purchase. The warranty was 48 months, 48K miles. As it went I had another 8K left on the extended warranty when my water pump failed and dumped coolant into the engine. The dealer told me that I needed a new engine. I told them to go ahead since I had the extended warranty. As it turned out the warranty covered most of the new engine (they would not cover more than I had paid for the car and I had previously had some work done under the warranty.) I ended up with a rebuilt engine in my car and they provided a new loaner for me to use for at least a month. Glad I made that purchase.

[IceManLikeGervin]

One thing you need to know about a car extended warranty from the dealership- don't get one. Only get a FACTORY extended warranty!

[MissionOffRoad]

Thanks for the video. This year alone, my 2016 Tahoe had a failed trans and a/c. I spent thousands to get fixed because the warranty expired last November. I'm considering either selling it or getting a 3rd party warranty. I've read so many horror stories because these companies try to avoid covering claims. I don't which warranty company to trust.

[ingamz]

I’m a single mom taking care of everything.. car, living expenses & my kid so I value your honesty and knowledge, it’s videos like this that make my life a lil easier!! Thank youuu

[scorchthelost]

Picked up a used 2015 Fiesta ecoboost a couple years ago, we paid for the extra warranty. A month later the engine seized while I was on vacation. Got a brand new engine for 400 bucks total. And those 3 cylinders are pricey.

[jonmurman]

i am an expert in Vechicle service contracts. 99.9% of the "coverage" being sold over the phone is no better than toilet paper. They will actually lie to you when selling you the garbage. One big factor very few buyers even realize is a big factor is who is the reinsurance provider on the product you are buying. Many are not reinsured and are literally worthless. Florida residents have an advantage because warranty coverage are considered an instrument of insurance so it's much harder to sell garbage warranties in Florida. i like Zurich personally.

[pc]

Back in 2006 I bought a used '97 f150 v6 2wd (totalled truck in 2014). I was dumb enough to pay an extra $400 for a Lubrico used car extended warranty. In 2008 the truck got this vibration but only between 80-100 kph, below or above that the truck ran fine. The warranty was their full coverage warranty which included electronics, AC and power train etc... I had the truck fixed (a weight had fallen off causing the driveshaft to become unbalanced.) for $220. When I went to make a claim on the warranty I was told that the drive shaft is not a part of the powertrain. After multiple calls to them and getting the same BS answer I asked the guy on the phone that if the drive shaft is not part of the powertrain then how exactly does the power get to the rear differential from the transmission??? The guy just told me to F-off and they would no longer take my calls and they blacklisted my account. Lubrico??? hmm the only thing the "Lubricoed" was $400 outta my wallet. I have never bought another warranty since.

[danieldavis]

Both times I bought an extended warranty I had breakdowns that weren't covered. Now I have a limited lifetime powertrain warranty the dealership gave me that will never get me anywhere, so just my experience has put me off of extended warranties.

[robertblaney]

If extended warranties were a good deal for the consumer, the insurance companies wouldn’t be selling it. Yes, there MAY be an occasion where it would pay off, but the the odds are heavily in favor of the insurance companies. You would be better off to invest the cost of the warranty

[robertscott]

He is 100% Correct about the average cost of a repair at a dealership see the garage rips you off just like the sales department then charge you a $120 for 5 minutes of work right off the bat. Average cost of a diagnostic at a car dealership is $120 and they charge you theoretical hours if the computer says the job takes 3 hours to do the job and they have a really good mechanic who does it in 2 you're still get billed for 3 and the average dealership is charging right around $75 a hour in labor.

[jonsmith]

Depends on the vehicle as well. With his Land Rover, Doug Demuro spent $3, 900 for the car max warranty. total repairs were over $21, 000 over the duration of the warranty, if I recall

[bucknaked]

I've sold/financed cars & trucks for 35yrs. I learned a lot about dealerships. There three things that will make your life a whole lot easier when it comes to Vehicles: Never Buy Buy Extended importantly never go to a Dealership for best way to think when you do walk into a dealership is "Mafia" (Ironically many are Mob owned) every single facet of these companies are to skim as much cream from you as the can and leave you gutted. Want a real extended warranty....Put the money an extended warranty would have cost in a separate bank account. Chances are if you bought a good car to begin with, you may never even use it.

[scotthoof]

If you look at the window sticker on a 2021 brand new Ford it does in fact say 3yr/36000 Bumper/Bumper. I work at a Ford store it’s plain as day.

[kevinjardine]

2012 Subaru on my second extended warranty. The fist one paid for itself with a few repairs. Only have like 70k on it, another 2 years left on this warranty. Also do all my work at the dealer and my dealer took care of me I was two months out of warranty, when I head gasket went. Why I love my dealer.

[ericfitzpatrick]

Most dealership extended warranties aren't worth the paper it's printed on. You are better off finding out the name of the 3rd party warranty company, and getting it on your own. Plus you will get it at cost, not the 47% bump up they are charging you.

[michaelfelt]

What KIND of extended warranty? I purchased a FORD extended factory warranty that extended my 36, 000 miles to 100, 000. $4, 500 gave me 64, 000 extra miles of peace of mind for my new truck.

[seanpop]

$1, 400 for a 10-year, 100k Toyota Platinum VSA warranty seems useless based on their reliability... BUT a bad radio in year 4 is a $1, 500 cost. The rear cross traffic radar systems are $800 shop time to calibrate, etc...

[davidhenry]

I purchased an extended warranty when I bought my 16 ram 5 years ago, when I traded it in this year they gave me a refund on the unused time remaining.