Research When Is an Extended Car Warranty Worth It?

21:52  07 january  2018
21:52  07 january  2018 Source:   Consumer Reports

Partisan One is a bombproof SUV with a 100-year warranty

  Partisan One is a bombproof SUV with a 100-year warranty Can't make it ugly-stick-proof, though.You can build all the high-tech war machines you want, but if you can't deploy them to the battlefield quickly and efficiently, they're not worth much. That's the idea behind this ridiculous SUV.

Consumer Reports has discouraged consumers from purchasing an extended warranty for a number of products, including cars . Why? It ’s rare that the premium you pay will equal the amount of a paid repair claim down the line.

Dealers use every opportunity to up-sell consumers on additional safety or entertainment features, rust-proofing, and extended warranties . Whether an in-seat DVD player is worth it is subjective. But should you consider adding extra repair coverage to a brand-new car ?

a close up of a clock© Provided by Consumer Reports

Consumer Reports has no financial relationship with advertisers on this site.

Research

Research

My car salesman was pushing me to buy an extended warranty because I put a lot of miles on my car per year. Is it worth it?

"You might be tempted to roll the cost of an extended warranty into your new car purchase, but that means you're paying up front—including interest—for a service you won't use for years," says CR auto analyst Mel Yu.

Yu recommends waiting until your car is near the end of its original warranty and then shopping around for a factory-backed extended warranty if you still want one. By then, you'll know how reliable the car is and how much repairs cost. (Check our new-car reliability ratings.) In our 2013 survey, many car owners told us that they wound up spending more on the extended warranty than they would have to fix it during the coverage period. Get quotes from several dealers, not just the one you bought your car from, and don't be afraid to haggle.

Mazda's rotary engine may live on as a range extender

  Mazda's rotary engine may live on as a range extender There's evidence that it will happen.Looking back, we have reason to believe that this really might happen. As far back as 2013, Mazda was working on a rotary-engine range-extended electric car in the form of the Mazda2 RE Range Extender. It had a total range of 250 miles, half of which came from its battery, the other half from a 330 cc rotary engine generator fueled by a 2.6-gallon gas tank. More recently, Mazda has also teased rotary power with the RX-Vision concept at the 2015 Tokyo Motor Show and another rumored rotary concept at this year's show, which could be the design concept teased recently.

@2014Subaru. When you buy an extended warranty , you are basically gambling that something very major will fail, like an engine, transmission, differential, etc. Also, if the extended warranty covers electronics and your car has a lot of them, it might be worth it .

My car salesman was pushing me to buy an extended warranty because I put a lot of miles on my car per year. Is it worth it ? "You might be tempted to roll the cost of an extended warranty into

For more, watch our video below, and check "Extended Car Warranties: An Expensive Gamble."

Editors Note: This article also appeared in the February 2018 issue of Consumer Reports magazine.

Consumer Reports is an independent, nonprofit organization that works side by side with consumers to create a fairer, safer, and healthier world. CR does not endorse products or services, and does not accept advertising. Copyright © 2017, Consumer Reports, Inc.

Straight Talk: Leasing, Financing, and Other Options .
For most people, buying a new car is the second-biggest expense they’ll make in their lives. And note that I said expense, not investment. But let’s face it: if you’ve got a serious itch to buy a new car, that’s exactly when you get pumped – impulsive, even – rather than prudent with your finances. You’re keen; you’re ready to go. Maybe there’s a deal that can make it happen! You can bet there is.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!