Should You Buy Extended Warranty on Cars?

Should you buy extended warranty on cars? We explain whether you should buy an extended warranty when you buy a new car or a used car. We also tell you the differences between OEM and aftermarket extended warranty with the pros and cons. Before you buy an extended warranty make sure to watch this video.

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[adeezy]

I bought a warranty plan through my dealer on my used Volkswagen and it paid for a brand new turbo and numerous leaks and issues. Made my money back x2

[thomasdonohue]

I just bought a 2015 Ford Focus SE with the Ecoboost engine. The dealership had about 4 different warranty options ranging from 160 a month to 138 a month. I declined. I went on line and looked at a few warranty companies and now these companies harass me. I've come to the conclusion these companies are a rip off and will always find a loop hole in the policy that they can use to refuse payment on any repairs. Save that 160.00 every month and when your car breaks you will have the money to fix it

[jsfbay]

Suggestion - how about a list of reputable 3-rd party warranty companies? Or if that's not feasible, a link to a website that you know does a good job ranking different warranty companies. Also - what about the difference between inclusionary and exclusionary warranties? I'm guessing the ones I see pitched on late-night TV are probably inclusionary 🙂

[MTSGaming]

No. Just saved everyone 12 minutes including myself

[ravipeiris]

Thank you for explaining the misnomer, "bumper to bumper" warranty.

[AcidFlash]

Is there any chance you could do a video detailing which are the better aftermarket insurers and which ones to avoid? I recently purchased a used vehicle and after some research, I concluded that I was better off just taking the vehicle beforehand to a trusted mechanic and then just taking my chances. There are too many weasel clauses, limitations and deductibles to make it worthwhile. Also, used car dealers will not give you a copy of the details of the warranty before you purchase and the insurers websites do not give all the details.

Also, I was quoted everything from $800 to $2500 for the same "Superior" 2 year warranty for the same plan from different dealers. Talk about markup.

[bigcahuna]

I was never a fan of extended warranties up until a decade or so ago, but last month I sprung for buying one when I purchased my 2023 Mazda CX-30 to avoid expensive repairs for the next seven years. Only paid $2, 200 for it. It's one that the dealership endorsed and proudly works with, not the crappy Car Shield policies that ghost their customers when they need help. Four years ago, I also bought a GM issued extended warranty for my 2017 Cadillac for only $1, 927. I used it on a rear axle differential repair and an infotainment system replacement, both repairs which cost $$$$, but only cost me $50 out of pocket, so the warranty paid for itself plus more.

[michelleder]

Simply declined all extended warranties. The dealer wasn’t happy while I was

[Mike_The_Hog_A_Nator]

Stay away or buy a good ext warranty only just before your car warranty goes out.
Never buy a warranty when you buy your car! You can get it later. Stay away from Carshield! You've been warned! 🤟

[gwarlow]

Spoiler alert: NO, you shouldn’t buy an extended warranty. Choose a brand that has a long history of reliability (Toy…) and have it serviced regularly.

[jasons]

Why do we have to get the extended warranty at the time of vehicle purchase? Why not buy a 3rd party warranty 2 or 3 years later?

[garymitchell]

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[emilemouannes]

You said @2:40 that cars wear out only based on mileage and that is false. Suspension components made of rubber will dry out and tear just by aging. City mileage is known to be more abrasive to a car from all the engine heat cycle as compared to highway mileage.

[manauryreyes]

I really can't find this information anywhere but I have a question. Lets say I buy a VW which has a 4yr/50, 000 of factory protection & then decided to purchase an extended warranty of 10yr/150, 000 miles right before the factory expires. Does this mean it will be covered for an extra 10 yrs on top of the 4yrs or is it only covered until the car marks its 10th year?

[nathanchambers]

Lifetime warranty for a 2015 Jeep Cherokee= $2300
Amount of warranty work done in 6 years= $6000
Guess who doesn't offer this warranty anymore 😁

[ita]

A WARRANTY CAN ONLY BE ISSUED BY THE VEHICLE'S MANUFACTURER.

[lesterparker]

Buy a Toyota. Probably won’t need any warranty.

[csjrogerson]

Simple. I work on the premise that: If the manufacturer doesn't give you a decent warranty in the first place, why are you buying an extension and why are you buying the vehicle at all? I either buy the vehicle from new and keep it for a long time or buy at 3yrs and sell at 6yrs ad infinitum. Never sent a car to a garage for anything other than a couple of minor warranty repairs in 25 yrs.

[kevinbudge]

I like to add you can go online and price shop an OEM warranty from different dealers this is a good idea as they are selling the same plans also i got my estended warranty through my insurance company (Geico) 1000 dollars for 7 years with a 200 deductible used one time on my 2016 chevy impala replacing power motors in moon roof dealer charged 1500 dollars paid for intself would recomend

[kennethsaeger]

Buying a brand new 2021 Mazda CX-5. 10 year 150k mile warranty offered for $52 extra a month for 75 months. I plan to drive Uber and Lyft on the side. Should I take the Warranty??