is an extended warranty worth it?

1690 Views 14 Replies 4 Participants Last post by meatball, Aug 30, 2005

canadianstang

Discussion Starter · Aug 28, 2005 (Edited)

i'm getting a 99 mustang gt conv from a nissan dealership they said that i can get 3 years or 60,000 km's bumper to bumper (except for rotors, breaks, struts normal wear and tear stuff) for 3000 bucks. it includes hotel, car rental and emergency road side service if anything breaks. if i don't use it i get 2000 back at the end of the warranty period. sounds like its kinda a no brainer but i like to run it by as many people as possible before i do things cuz i've done it the other way, wayyyyyy too many times hahaha but it kinda leaves me with no extra dough ack!. thanks this is the car http://www.trader.ca/powerpage/details.aspx?vlotid=139545&adid=4672750

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meatball

· #2 · Aug 28, 2005 (Edited)

Generally, dealer-offered extended warrantys are overpriced. This is one of those areas where they make FAT profits, like "floor mats" & "undercoating" for inflated prices. They are available from 3rd-party companies (check the web) for less. The FINE PRINT in most cases rigidly define what they cover in most cases and may be more sensitive to changes you make to the car than even Manufacturer warranties. I vote NO! and that one is the most expensive I've heard of. Should be able to get most of that coverage for less than a grand but may not let you mod your car.

http://www.carbuyingtips.com/warranty.htm?x=0nzfqkkqv_rtrftzbt_tsowgdgzxq2

http://www.dogpile.com/info.dogpl/s...-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/417/top

http://autorepair.about.com/od/carcare/a/servicecontract.htm

Oh, and I looked at the car; nice looking, isn't price high? (not sure how that goes in Canada)

http://cgi.ebay.com/ebaymotors/1999...4569957678QQcategoryZ6236QQrdZ1QQcmdZViewItem
http://cgi.ebay.com/ebaymotors/2000...4571236967QQcategoryZ6236QQrdZ1QQcmdZViewItem
http://cgi.ebay.com/ebaymotors/Must...4570870804QQcategoryZ6236QQrdZ1QQcmdZViewItem
http://cgi.ebay.com/ebaymotors/2000...4570829588QQcategoryZ6236QQrdZ1QQcmdZViewItem
http://cgi.ebay.com/ebaymotors/ALMO...4570805921QQcategoryZ6236QQrdZ1QQcmdZViewItem
http://cgi.ebay.com/ebaymotors/2000...4570804794QQcategoryZ6236QQrdZ1QQcmdZViewItem
http://cgi.ebay.com/ebaymotors/2001...4571651564QQcategoryZ6236QQrdZ1QQcmdZViewItem
http://cgi.ebay.com/ebaymotors/2001...4571382056QQcategoryZ6236QQrdZ1QQcmdZViewItem
http://cgi.ebay.com/ebaymotors/2001...4570752219QQcategoryZ6236QQrdZ1QQcmdZViewItem

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canadianstang

Discussion Starter · #3 · Aug 28, 2005

those sites look really good i'm gonna try to figure everything out before tomorrow. i want to get the best deal. this is one of the cheapest gt convert's i've seen in my area. those are some killer prices hehe wish i was in the states. they usually go for between 15 and 22,000 depending on mileage and options here, or a bit more if done up i guess. i coulda got one for 12,000 a couple months ago but it had 175,000 km's and it was a basic gt conv but it looked like it wasn't cared for that well. we have to add like 20% to get to your money level and pay duty and taxes and i guess if its not 30? years old its expensive to ship it, never done it tho but thats what the border guy said on the phone. thanks for the sites i never knew warranties were so confusing i have some reading to do eh! thanks for the info!

meatball

· #4 · Aug 28, 2005 (Edited)

Have to make my point again - that $3000 should be NO, it's waaaaaaaaaaay too much; betcha the dealer makes $1500-2000+ on it. Add $35 a year to your car insurance for roadside assist. Get a cell phone. Be absolutely sure that something you want to do to your car won't void any warranty you buy. If there's the slightest indication that you are 'racing' your car, i.e., modified air intake or maybe even custom wheels, you can kiss warranty coverage goodby w/the wrong company. You can buy the add-on, third-party extended coverage after you buy the car. Decision is easy: no to their extended warranty. Are they giving you any warranty - 30 days? Take a grand of your 'extra' money and put in a new savings account for unexpected car repairs and leave it there. Set aside another $500 for misc car stuff - we can talk about it.

To Do: (do not trust that they did all this - get salesperson and/or service mgr. to verify this. Ask for specific, detailed list of what was done to car.)
check engine oil level
Did they change the oil when they got the car? If so, exactly what oil do they use? What brand filter?
check coolant level when cold
check all fluid levels
check tire press, spare/jack/wrench/wheel lug lock key
do Carfax report (actually have them do it for you)
look for any kind of fluid leak
did they shampoo interior/trunk?
does the boot for the top come w/the car? (cost you up to $200 to find one)
did they buff/wax car? (ask them, lot of dealers use a detail service if not doing in-house)
what brand/model tire is on car & are all four the same?
is intake manifold all plastic?
Any sign the shocks/struts/serpentine belt/rad hoses have ever been replaced?
approximate life left on brake pads / tires?
know anything about repair history? any papers in car or owners manual to show where it may have been serviced before or who owned it?

then, when you get the car, PM me back, I have another list of stuff for you to do.

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tripleblack

· #5 · Aug 28, 2005

Warranty bad - savings account for car, good

Meatball's on the case, so I'll just add 2 more cents (canadian) to the kitty.

Warranties are a waste of money, particularly at the $3000 level you're looking at. In my chequered past, I have sold cars (clothes, mobile homes, insurance, fine art, photography, etc), and the warranty represents a doubling of their profit on the sale of that car. You can expect a real argument when you turn it down - they want that extra money.

Take the $3000 and put it in an interest earning account - set up a deposit system of $20 a week or more to go with it. Then, when the inevitable happens (you have to fix something - you want to improve something) you're ready.

Best of luck, and keep that herd healthy!

tripleblack

canadianstang

Discussion Starter · #6 · Aug 28, 2005

u definitley are making sense hehe. i was gonna do it but i will put my money back into the account and save some extra. i never thought of the bigger tires and cold air system and being lowered voiding the warranty. 16 is alot closer to what i had promised myself i would go with than 19 grand. odd how i thought it sounded so good lol. my gf's father is a mechanic and he said its a scam too (i just got off the phone with him hehe) and i do have the 30 day warranty from the dealership to find out if something is wrong. i'll go thru the check list tomorrow and update you meatball

one less thing u guys have helped me to not worry about at night hahaha thanks again i will grab the caa or canadiantire roadside thing too never even thought of it hehe

meatball

· #7 · Aug 28, 2005

We just want you to be happy w/your car (and have enough money to eat & put gas in it as well)

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canadianstang

Discussion Starter · #8 · Aug 28, 2005

sweet car! :drool: i liek the look of the black bullits. hmmm yellow with black bullits, i'll be drivin the coolest bumble bee around hehe. now i'm worrying about the fluid on the rack being from the intake lol. i was thinkin it woulda evaporated by the time it ran down to the rack. i'll really go over it tomorrow before i hand over the cheque, although i'm thinkin i might already be pretty locked in lol. oh and i saved my vert cover from when i had a 99 vert in 2000 thankfully. at least if the intake does go i'll have 3 grand to fix it myself eh hahah. thanks

meatball

· #9 · Aug 28, 2005

File this someplace about the intake manifold: Ford will pay if it cracks - http://www.corral.net/forums/showthread.php?t=666348
They're around $200 + gaskets, etc.

canadianstang

Discussion Starter · #10 · Aug 28, 2005

thanks hopefully its for canadians too eh lol

Fiat Freak

· #11 · Aug 30, 2005

What is your guarantee that the dealership or the warranty company will be around at the end of the warranty period?

canadianstang

Discussion Starter · #12 · Aug 30, 2005

thats true. the deal fell thru they tried tellin me the warranty was good for 30 days but didn't tell me the warranty was just what was in the safety argh much better that i found out.

meatball

· #13 · Aug 30, 2005

canadianstang said:
thats true. the deal fell thru they tried tellin me the warranty was good for 30 days but didn't tell me the warranty was just what was in the safety argh much better that i found out.

-- don't understand. Deal fell through? No car?
Why?

canadianstang

Discussion Starter · #14 · Aug 30, 2005

i'm still kinda confused about what they were saying but i did a new post? on it i'll jsut copy it here very depressing thought i was doing well buthere it is... posted in the canadian section but people spent alot of time helping me here to i really appreciate it and i can use it for my stang when i get it as soon as a good deal comes up. i said no to the car cuz of to many 1/2 truths and bullcrap. they told me so many stories and my memory isn't that good but luckily i had my gf there to remind me of what went on lol they said different things different days like, the owner of the car is the owner of the dealerships best friend, he has his own old car dealership but thinks he can get more here, the guy is practically part owner of this dealership, 30 day full warranty then as i'm signing the papers the manager says its a 30 day nissan certification warranty the cars only on consignment , i get the 17" original rims with the car til i say i have a cheque in my hand and am pickin it up then its ohhh theyre an extra 500 bucks, the leak i saw on the steering rack was jsut from an oil change which they hadn't done yet and they checked it (wiped it off?) and its fine lol, and "oh if u want a warranty so bad u shoulda just gotten the 3000 dollar one like i said". total bullcrap. i'll jsut bite the bullet and go for a 2002 or sumthin stang with a bit of a factory warranty for a few thou more if i can get a deal as soon as i save a bit more. its not like i'm asking for the world, just what they said theyd do, but oh well the neater things on the newer ones when i get one are cool (6 pack cd), thanks for all the help i'm gonna go and be depressed for about a month or so. thanks again i already saw a potential victim a 2002 w/28,000km's totally loaded vert for 22,000 hehe 19 cash? hahah i appreciate the time spent helping me.

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meatball

· #15 · Aug 30, 2005

Don't be depressed - I think you're lucky not to have bought THAT car from THAT business; I wouldn't go back there. There are plenty of cars around for sale from honest people.

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