Extended Warranties On Vehicles
2006 Chevy Equinox LT Used Car For Sale in Spokane, WA
Are extended warranties a good idea to purchase for a used vehicle?
I'm buying a 2006 Pontiac Vibe (lease-return) with 68000 kilometres on it and I've been told that extended warranties are not necessary (they're just money-makers for the dealerships). Any experience?
some people say they are a waste of money but I see how much we pay out and know they arent just "money makers". If you think you can pay for all the repairs you are going to need then dont buy it, but when the transmission goes out and you are out a few grand you are going to wish you had purchased it.
Check with your local Credit Union/Bank and your peronsal auto insurance carrier to see if they have any "extended warranties". They are usually cheaper as well since they have a set commission, where as dealers and direct sellers (phone calls/post cards you might get stating your warranty is about to expire and to call a phone number.) can charge upto twice as much as the contract cost them, depending on which state you are in. Dealers, CUs/Bank, Insurance Agency, and Directs are all just sellers for an administration company that actually pays the claims.
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