Originally Posted by elp_jc
Indeed. I've never bought any extended warranty on anything, and so far, I"ve never needed one, so I'm WAY ahead of the numbers game. I'd have spent tens of thousands of dollars already.
Bottom line is the overwhelming odds are you'd NEVER get your money back out of an extended service contract (it's NOT a warranty). Unless you're in a dire financial situation, would use up ALL the miles, and your car has been problematic, I wouldn't even consider one. Plus you folks need to read the fine print better; most include a proration clause, which only makes sense: if a part is supposed to last 100K miles, and craps out at 70%, you'd only get 30% of the cost. And that 70% is usually more than using an independent shop (or DIY), meaning you threw thousands of dollars away for nothing. Do your homework
. They're cash cows for dealers and sellers for a reason. Good luck.
SOOOOO True. I requested info on a extended warranty contract that I heard an ad on the radio for. It would cost just over $5000 for 3 more years and 100,000 total miles coverage. To conclude the fine print. They will never cover anything! They will find a reason or a stipulation in the contract which there are hundreds of to keep them from having to cover it. Plus even with BMW extended warranty they can void it for many reasons... ie springs, spacers, tunes etc. I speculate that insurance companies make over 80% profit on the extended contracts. Might be even more. Thoughts???