Warranty or Not?

[mdzaudi]

So i just called up the warranty people and was offered a 60K 4-year comprehensive warranty on my 2003 1.8tq with 72,200 miles on it. The warranty charges a $100 deductible every time i take it in for a fix. The final price on this comes to about $4K ($1,000 a year). The warranty obviously doesn't cover wear items like clutch, brakes, etc or oil changes.


So i'm a pretty mechanically saavy guy and i can do 80% of the car maintenance myself but i was wondering everyones' thoughts on whether you would take this warranty or not if you were in my position?

It almost comes down to whether you guys think i'll spend over a grand per year in parts because if i do all the install myself, labor = $0. But then there's also the convenience of not having to do the maintenance myself as well if i'm under warranty.

Your thoughts?

[jbrown7815]

Warranty brand? Make sure you read the fine print...

[pizdetsauduxa]

yea, rape

[b6onboost]

Its a huge ripoff in my opinion. If your car is in good condition and you maintain it well, it will not cost you $1000 a year just to keep it in working order.

Any warranty is a gamble. If you buy that warranty you are essentially betting on your car needing over $4k in repairs alone (maintenance aside) over the next 4 years. I seriously doubt it will be that much. Especially since it doesn't include clutch, timing belt, brakes, ect (maintenance).

Here's a better plan. Take the $4k and put it in an investment account, CD, ect. If something breaks the money is there, if it doesn't you'll be earning interest and watching the money grown. (Or if you would pay the warranty monthly, instead make the payment to a similar savings account). I'll also add, for every 'horror story' you hear, there are probably hundreds of people who never had that issue, the internet has a habit of making issues seem much more likely to happen than in reality.

[pyro]

^ repped

[jbrown7815]

+1 ^