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Old 06-28-2014, 06:28 PM   #21
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Ditto on extended warranties on anything! I bit on one in 2001 when I bought my 1995 Lincoln Continental. When I looked at the shop manual and saw how complicated the suspension and electronics were I thought it best to buy the warranty (for $1,500.00). When the policy came I learned that it was doubtful if many of the things I was concerned about were even covered. Well, as he afore mentioned Dave Ramsey would say, I paid $1,500.00 stupid tax!

The scam they often are is illustrated by what happened to me last year. I've kept the old Continental as a second car and it is now nineteen years old with about 145,000 miles on it, but that being said, we received an urgent letter that told us we had only a limited time to take advantage of an extended warranty for this car. Since the offer came from Chicago I sent the letter to the Illinois Attorney General's office but since no money changed hands I doubt that anything ever came of my complaint.

Gene
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Old 06-29-2014, 02:50 AM   #22
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My daughter purchased a used Saturn years ago and I insisted she buy the extended warranty. Six months later the main crankshaft bears spun and they had to replace the entire engine. She came out ahead cost wise.

Not many folks actually have coverage for the item that breaks due to the very small print and weasel wording.

Extended warranty companies are often only around for a few years to collect the premiums and then they fold before claims start coming in.
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Old 06-29-2014, 10:11 AM   #23
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Bad/Good experience

I bought a warranty for a new VW Convertible when they came out. The dealer rep told me it was actually a VW warranty and covered everything but they just used the third party form... I bit and when the brake rotors warped, I tried to use the warranty and was told it wasn't covered. I asked if the VW warranty would have covered it and they said it would. After several conversations back and forth we demanded they cancel and refund the cost or cover the brakes. They said "None of the above".

My wife called the local "Action Line" and left a message. Two days later the dealer called and said they reconsidered their decision and refunded the cost of the warranty.

Later I bought a used BMW M3, and since it is very complex etc, I bought the warranty. Six months later the transmission began to drop out of gear. Long story short, they replaced the transmission, saving me about three times the cost of the warranty!
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Old 06-29-2014, 10:44 AM   #24
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Quote:
Originally Posted by Phodeaux View Post
Later I bought a used BMW M3, and since it is very complex etc, I bought the warranty. Six months later the transmission began to drop out of gear. Long story short, they replaced the transmission, saving me about three times the cost of the warranty!
If there is a Warranty Company out there that did actually pay for repairs you owe it to publish the name for other to note. There is a first time for everything and inquiring minds want to know.
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Old 06-29-2014, 12:33 PM   #25
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The BMW experience was a long time ago (1999?) so I don't have the records and I wrote over most of that part of my memory! I think possibly BMW also helped with some of the cost though the car was beyond their warranty period.
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Old 02-22-2015, 11:06 AM   #26
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Mercedes CPO Extended Warranty

I agree with the above posters that extended warranties are usually a money grab for the dealers and have ALWAYS passed until my latest purchase . . . Recently, Mercedes Benz has offered unlimited mileage warranties for an extra year (4 years after in-service date + 1 additional year) on their Certified Pre-Owned vehicles (CPO). When I purchased my 2012 which had an in-service date of September 2013, I added 2 more years (at a cost of $2,500!). This is a MB Factory warranty that covers everything but more importantly, is unlimited mileage, so I'm basically covered until September 2019, bumper to bumper. Anyone who has ever owned/serviced a MB knows how important a warranty is as they are very expensive to repair if/when something goes wrong. I purchased my diesel pusher with the intent of buying an AS to travel the country attending long-range competitions and last year put 38K miles on my other car and had basically 2K left on the original factory warranty. Is it expensive - yes, but consider what you'll do with your TV and the miles you put on it and I think you'll agree, it's well worth the extra cost (under the right conditions). Maybe sometime in the future, AS will offer an extended Factory Warranty, then and only then would it be worth considering.
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Old 02-22-2015, 12:04 PM   #27
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Please don't consider BMW and Mercedes in the same class Airstream. They are companies that make a Quality product for extended life expectancy and thus can for a reasonable price offer a Company warranty. Airstream assembles trailer from products of dozens of manufacturers and thus a third party warranter at best.

Third party warranties are a dealer Money Grab.
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