While I rarely buy any extended warranties for any products, I did with my truck.

It's an '09 Big Horn and had 52K on it when I bought it.

I can do any of the mechanical work, but the electrical in these newer rigs, well those gremlins and I do not get along!

I bought the 6 year/50K mile warranty, and I am glad I did.

The TIPM went out after I had the truck a month.

To the shop it went.

They replaced the TIPM with a refurbished one- no good.

They installed refurb TIPM #2, it took out the dash cluster!

They finally installed a NEW TIPM, and so far, so good.

They had my truck in the shop for 4 weeks!

The $100 "co-pay" for the work done, was a whole lot cheaper than paying for that out of pocket.

No idea what a TIPM costs new, but I know what shop rates are these days.

I am glad I went with the extended warranty.


Now had it been a brand new vehicle I was buying, then no, I wouldn't purchase anything extra.

But this ones had just expired, so I went with it.

 

I bought my 14 new and bought the extended warranty with it so i now have a renewable 7/70k warranty so when it's close to being done I can renew it. I only have 4500 miles now(bought it in December) and my bumper to bumper will be done in less than 2 years and my powertrain warranty will still be on it til 5 years or 100k(4 to 5 years). Btw the dealership I got my truck from does the extended warranty at purchase, with option to renew later but you can't renew it later unless you buy it and keep it since new.

 

I'm having trouble with the logic. Seems like you paid (how much? you don't say) to get bumper to bumper coverage for 34k miles (the difference between the 70k and the factory 36k). Never mind that the power train is not included in this as it's already covered. That is a lot of mula to pay for electronics warranty for 34k miles, especially at the rate you pile up the miles.

 

I've never bought an extended warranty for any of my vehicles, but I did for my 09 Ram. I bought the lifetime warranty. Truck has the lifetime motor and power train, I plan on keeping this sucker for a long time, so I went all out. So far I'm glad I did. Matter of fact it goes in next week ... wiper fluid pump died, driver heated mirror died and the passenger side running board pulled out of the frame. I've had it in for a laundry list of items over the last 6 years. 112k miles, knock on wood, nothing major so far, but the warranty has probably paid for itself now. At the time, I wasn't sure if it was worth it. For me, at this point, I'm glad I did.

 

Don't take this wrong, but...

So you paid what $2000? close to that I'm guessing. The wiper fluid pump is $80 and easy to put in, the heated mirror is $60 (the heated glass only - I know I just replaced mine) and maybe 1 hour of labor and the rivnut that pulled out was probably a $100 repair. You could have repaired the items yourself for the $300 you paid in deductibles. If these are only items you had repaired under warranty, there is no way that the warranty paid for itself.

EDIT: re read your post, it's going in for the thee items, they haven't been repaired yet. Still, the repairs are minor. The other "laundry list" of repairs with the original cost plus the deductibles must be a bunch or repairs for them to break even. Agree that if you keep your truck a very long time, it may pay for itself. I guess its the "peace of mind" that is the greatest benefit.

 

Hey Pedro .. I'm with you .. but that's just for this round of 'repairs'. This is my 3rd visit with multiple problems for them to deal with. I do as much work on the truck as I can, but there are some things I don't have the time, patience or skill to pull off. Again, for me, and for as long as this sucker will be in my driveway - over time - I believe it will pay for itself, if it already hasn't - based on my past visits. If I didn't have the lifetime motor and powertrain warranty, I probably wouldn't have done it.

 

It's a $100 deductible and it's also renewable. Only way I could get a renewable one was by buying it at the time of purchase. If I bought it towards the end of the factory warranty, it would not be renewable. I got gap insurance coverage for the whole 7 years, gps tracker, and the extra 34k miles for about $5k. It's an extra $60 per month for 7 years. If I wreck, my 35k loan will be paid off even tho its worth about 27k to 29k according to kbb and nada. So gap coverage alone is the better part. They also tried to give me windshield coverage for another $9 per month but I already have that thru state farm with a $100 deductible. For a 0 deductible thru state farm it was an extra $8 per month which I declined. Paying that for 13 months already makes me pay more than the deductible. My deductibles thru state farm are low so I'm paying more already and could lower it any time by going with a higher deductible. $100 comprehensive, 500 collision, 100 windshield is what I have now.

 

$5k is a lot of money. Gap coverage is because you had a small down payment? I've never been asked to provide gap coverage as I normally put down $10k. The likely hood of you ever needing the gap insurance is almost nil. Most accidents are repairable for less than a total loss. As far as getting into a wreck, my car insurance policy is for "replacement cost". So if my truck was totaled or stolen, they will buy me another one just like it, no matter the value of my original one. Windshields are cheap to replace, it's not worth the money to insure them. I had a windshield replaced in mine for less than $200 and they came to my house to install it.

As far a renewing the policy, make sure it's a Chrysler/Fiat policy and you keep excellent service records for all of the maintenance.

 

Yeah 4k down plus 3500 trade.

 

With that down payment, you didn't need the gap insurance. The "finance" folks make a living off selling stuff like that. They play the "it's only $9 more a month" game. I learned that lesson many years ago.

When I bought my '09 ram, the guy was pushing me hard on all kinds of warranties and playing the monthly payment game with me. He was using different interest rates to move my monthly payments around. We had settled on the lowest interest rate that he said I qualified for (my credit score is around 800) so I had a monthly payment set already. He offered me a bumper to bumper 7 years/70k miles for around $2200 for "only this much more a month". I declined and then he lowered it to $1800 for "only this much more a month". Again, I declined and to my surprise, he clicked a few buttons on his computer and made me a better offer because he "magically" found me a lower interest rate. This is illegal in California, he has to give me the best rate I qualify for. He said I could cancel it within a certain period for 100% refund. This time I said yes and got the lower rate. I went home that night and cancelled the warranty the next day. I did have to write a letter but I got all of my money back and a lower interest rate. So I played their game to my advantage.