Extended Warranty Purchase....
#11
Join Date: Dec 2006
Location: Wheatley Ontario, Canada.
Posts: 295
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RE: Extended Warranty Purchase....
If you plan on keeping your vehicle forlonger than thefactory warranty itMAY be wise to purchase the extended warranty. It really boils down to, do you think the car/truck will break down enough to pay for it? Myself I passed on it. I figured I would get a good feelfor the quality of my truck during the base 3 year warranty. If lots of repairs. I would trade it off or sell it once the 3 year warranty expires.
As far asbuying extended warranties. MAKE SURE TO READ IT VERY CAREFULLY. Where it states "the following parts are covered" Only those parts listed have coverage, nothing else! Some after market companies sell some shady polices(ex,lots of exclusions, money pay out limits, used parts to do repairs)Some salesmen/women will tell you anything to sell it to you. Iused towork in this business and it amazed me how many times I heard the salesman said "everything was covered."
Dan
As far asbuying extended warranties. MAKE SURE TO READ IT VERY CAREFULLY. Where it states "the following parts are covered" Only those parts listed have coverage, nothing else! Some after market companies sell some shady polices(ex,lots of exclusions, money pay out limits, used parts to do repairs)Some salesmen/women will tell you anything to sell it to you. Iused towork in this business and it amazed me how many times I heard the salesman said "everything was covered."
Dan
#12
RE: Extended Warranty Purchase....
Hey guys, i just sold my 04 to my brother and it had a 7/70 factory warranty, I almost keep it for that reasons. The 07 Ram Quad 4x4 Laramie I am ordering will only have a 3/36. I still do not think i will get the extended warranty they offer, even with the shift-on demand option transfer case, just don't think the extra money is worth it. I work as a boat mechanic, andour F & I person makes there money on extended warranty. Thanks Ken
#13
RE: Extended Warranty Purchase....
I worked at a dealership for almost 4 years, and if you buy an extended warranty and you have the money, then you have done the right thing, because you're not going to have to scrape just to drive and afford the truck... However, if you are buying the truck and financing a big chunk of it, say more than 25k then I wouldn't opt for the Ex. warranty. When we sold warrantys, I would look at the book, and we payed appx. 200-300$ MAX for any vehicle, and we were selling them for 1000-2000$!! The Finance Dept. makes their commission money on warranty profit so they screw the customer. Just a few words to make you think the next time they throw out a price number... I would take the advise of CatchMyDrift and purchase direct.
#17
RE: Extended Warranty Purchase....
I got my truck used from CarMax, got the 6 yr/60k warranty on it. They have worked on it a few times, couple times to not fix the rattling of the hood. Makes a squeking sound, like plastic on metal or something. Needed a new tie rod to the tune of $900 +, cost me $50.
#18
RE: Extended Warranty Purchase....
Warranties are almost like going to Vegas--a crap shoot. Going back three trucks (Nissan SEV6), I didn't purchase a warranty and ended up spending $3,000+ on repairs after the standard warranty expired. So, I purchased a $1,200 extended warranty on my last one ('98 Ram)and didn't end up using a penny of it. When I recently purchased my current '07Ram I decided against the extended warranty. Hmmm...having second thoughts now...I might look into the aftermarket policies. Thanks for the tip CatchMyDrift05.
#19