Extended Warranty - yea or nay? - Dodge Challenger Forum: Challenger & SRT8 Forums
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post #1 of 29 (permalink) Old 04-25-2019, 08:35 AM Thread Starter
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Extended Warranty - yea or nay?

The few times in life I went for big ticket extended warranties...or any extended warranties...it was a waste of money.

It seemed like a good idea to buy a $400 extended warranty on a new technology (in 2003) $4000 plasma TV...but I never used it and I only wish the darned thing would break so I could justify buying a new one!

When I bought a used 95 Maxima my mechanic recommended I buy a $1000 extended warranty because of a possible $2000 transmission failure. Bought it. It never happened.

The only extended warranty I bought that paid out was for a Craftsman leaf blower/vac. Used it for years as a blower...no problems. Used it as a vacuum once...and it was toast. Got a new one and saved about $170 ($200 blower and I probably paid $30 for the warranty).

Bought the rim warranty for my SRT for $300 (as I recall) for three years. The only damage I have to one rim wasn't covered (cosmetic).

Paid $20 a month for iphone insurance. Two years ($480!) later it wouldn't charge. Called them and they said for $175 they would send me a new phone overnight and a return box. I got it fixed in two hours for $40.

So every time I ignore my fatalistic approach...which is to avoid insurance at all costs and then when the death card comes up for something I will have all that money saved up to pay for the repair...I seem to get screwed.

So should I drop $1000 to extend the bumper to bumper coverage on my 2015 SRT with an M6? It has under 11K miles on it. The 2015's have 5/100K powertrain (the reduced it in 2016 to 5/50 or 5/60) warranty. Or should I roll the dice?

Thanks in advance for your input. So far my biggest concern would be a lifter problem wiping the engine. I seem to get some hemi "tick" now and then but haven't gone to the dealer over it.
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post #2 of 29 (permalink) Old 04-25-2019, 08:43 AM
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I've been around longer than I care to admit. My personal findings over the decades has been that extra insurance/extended warranties rarely fall in your favor.


I never bothered with anything beyond the factory warranty from Dodge on my 2015 M6 but Dodge changed the plan from 100k miles to 60k in 2016. Even with this modification, I personally wouldn't bother with an extended anything.

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post #3 of 29 (permalink) Old 04-25-2019, 08:56 AM
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It depends an the price of the warranty.

https://www.stevewhitemotors.net/ Quoted me about $1600 for the FCA Max Care warranty (that quote was a year ago, price may have changed).

My local dealer wanted $3500 for the same warranty, the Steve White rep told me retail was $2400, so my dealer cost was a rip off.

At $1600 I would say that it's worth it.
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post #4 of 29 (permalink) Old 04-25-2019, 10:12 AM
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It depends an the price of the warranty.

https://www.stevewhitemotors.net/ Quoted me about $1600 for the FCA Max Care warranty (that quote was a year ago, price may have changed).

My local dealer wanted $3500 for the same warranty, the Steve White rep told me retail was $2400, so my dealer cost was a rip off.

At $1600 I would say that it's worth it.

You may want to check around. There's a Dodge dealer in the Nashville area that is including a lifetime power train warranty with every new vehicle purchased. This is one that they purchase for the customer. Its not through FCA however.

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post #5 of 29 (permalink) Old 04-25-2019, 11:13 AM
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Since you only put on about 3-4K miles per year, I don't think the warranty cost is worth it.

However, if your car was a daily driver and you put on about 12K miles per year, I would say, yes.

In 1992, I purchased a new Buick LeSabre (3.8L). As soon as the standard 3-year warranty expired, it started giving me a lot of trouble. Luckily, I had purchased an extended warranty from a private source. The warranty paid for a starter, alternator, self-adjusting brake mechanism, mass air flow sensor, crank sensor and a few other parts that I have forgotten. The warranty, in this case, was well worth it.


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post #6 of 29 (permalink) Old 04-25-2019, 12:15 PM
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I had purchased an extended warranty on my '01 'Benz that added 4 years and another 50K.

I had to have rear main seal replaced and IP cluster.toward the latter part of year #7 Probably was $3.6k in parts and labor, paid $2k for the warranty.

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post #7 of 29 (permalink) Old 04-25-2019, 12:16 PM
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Since you only put on about 3-4K miles per year, I don't think the warranty cost is worth it.

However, if your car was a daily driver and you put on about 12K miles per year, I would say, yes.

In 1992, I purchased a new Buick LeSabre (3.8L). As soon as the standard 3-year warranty expired, it started giving me a lot of trouble. Luckily, I had purchased an extended warranty from a private source. The warranty paid for a starter, alternator, self-adjusting brake mechanism, mass air flow sensor, crank sensor and a few other parts that I have forgotten. The warranty, in this case, was well worth it.
Agree! I put 15k+ a year so that piece of mind is well worth it for me. Especially how expensive parts are for these cars...


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post #8 of 29 (permalink) Old 04-25-2019, 06:43 PM
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No. The folks that write extended warranty policies are not fools. They need to make a profit and in order for that to happen, they need to not pay out to the vast majority of customers. They have actuary tables, and research, and they odds are overwhelmingly in their favor. You’re better off to apply that money towards a well stocked emergency fund.
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post #9 of 29 (permalink) Old 04-25-2019, 06:51 PM
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Purchased an extended warranty on my ‘16 R/T up to 75K miles. I tried to get them to warranty my glove box, center console, hood weather seal, paint, A/C, and radio. All which had legit problems.

They warrantied my hood seal and a $1,500 A/C iob. They hassled me and basically let the car sit for the rest of the stuff (all taken on different occasions) .

I would say i dont regret buying it
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post #10 of 29 (permalink) Old 04-25-2019, 07:24 PM
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I always buy an extended warranty when I buy a car. Sometimes it pays off, sometimes it doesn't. But it ALWAYS gives me peace of mind knowing that I'm covered just in case. :-) It adds very little to the monthly payment. I usually opt for very low ($100) or no deductible. I also always get the best warranty available (almost like a bumper-to-bumper) - sometimes through the car manufacturer, sometimes aftermarket. With these newer cars, even a problem with your radio (for example) can cost >$1k - and since the radio interfaces with just about everything else nowadays, you can't just slap in an aftermarket radio to fix it. To me, the peace of mind is worth it.

As much as people say to just put the money away on your own every month, that sounds good, but then "life" happens and you end up dipping into that fund for something else. Then when the time comes that an unexpected issue comes up with the car, that money isn't set aside anymore.
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