Extended third party warranties

[NoTrespassing]

The auto warranties I'm talking about are the ones telemarketers are pushing, not dealer warranties.

I've purchased an extended warranty one time. It was on a TV that was a display model. It died at about 2 yrs 11 months and Best Buy replaced it about 25 years ago.

 

[Bird]

It's like any other insurance. If you need it and they pay, it was worth it. If you don't need it or they won't pay, you regret having bought it. One of my grandfathers didn't want insurance of any kind. He said that's betting against yourself.

But for the peace of mind, I've bought such, and with Sears I came out ahead, but for most things I wouldn't buy such now.

Instead of the one advertised so much on TV, I did buy the so called extended warranty on my car from my dealer. It was just a little less than the one you see advertised on TV. And so far (knock on wood) I've not needed it with our current car.

 

[Oaktree]

Sorry you are wrong. I've at least broken even over the last 4 years. One electrical board for my oven was $400.00 but only $65 service call. Also had a computer board in my washer go bad. Another $350 plus labor with only $65 call out.

A new A/C unit will easily run $4k so, again, its a not brainer.

I have to wonder if you have some sort of power issues if you're losing that many circuit boards in appliances. Maybe time to invest in a surge protector?

These companies don't stay in business by paying out more than they take in.

 

[JohnDeereJoey]

On AVERAGE extended warranties are a losing proposition for the customers.

All the justification/rationalization/illogical thinking in the world will not change that.

 

[ericm979]

Many of the car warranties immediately return a good chunk of the warranty price to the sales person as commission.

Unlike the original manufacturer, the warranty company has little interest in repeat business or their reputation. So they have more incentive to find a way to avoid covering an issue.

 

[prichard]

The auto warranties I'm talking about are the ones telemarketers are pushing, not dealer warranties.

I've purchased an extended warranty one time. It was on a TV that was a display model. It died at about 2 yrs 11 months and Best Buy replaced it about 25 years ago.

I wonder if those are real at all. I suspect the spam call ones are either plain junk or possibly an identity theft scam.

 

[crashz]

I had a Ford extended warranty on a F150 back in 1998ish. Warranty was good until 75,000 miles. Truck started leaking coolant internally into the crankcase at 68,000 miles. None of the dealers could find the problem and since it still ran, would send me away saying nothing was wrong. They charged me the deductible each time. Finally, after it nearly hydro-locked (I think I bent a rod), a service manager at the selling dealer convinced them that it was a problem. The dealer bought the truck back and sold me a new one, but that warranty did absolutely nothing for me. Never bought another.

 

[Dftodd]

I had a Ford extended warranty on a F150 back in 1998ish. Warranty was good until 75,000 miles. Truck started leaking coolant internally into the crankcase at 68,000 miles. None of the dealers could find the problem and since it still ran, would send me away saying nothing was wrong. They charged me the deductible each time. Finally, after it nearly hydro-locked (I think I bent a rod), a service manager at the selling dealer convinced them that it was a problem. The dealer bought the truck back and sold me a new one, but that warranty did absolutely nothing for me. Never bought another.

The one time I had the warranty, I always got the "That's not covered!!!"

 

[Jstpssng]

When I bought my first Dakota it had 42k remaining on the 70,000 mile drivetrain warranty... after I paid a couple hundred to transfer it. The truck started nickel and diming me right from the start; u-joints every 4 weeks/4000 miles, front shocks, rear brakes, a couple of fuel pumps...yet nothing in the drive train. (U-joints? Nien.) It had 70,039 miles on it when I lost the front spyder gears. Just a day earlier it would have been covered, but the dealer said no.

I finally started changing the ujoints myself and realized they weren’t getting greased properly- something one of the many “mechanics” I took it to should have figured out when I was asking why they failed so often. They were little tiny joints with the zerk in one of the end caps; the far cap wasn’t getting grease.

 

[jigs_n_fixtures]

First Toyota truck had 12 points that needed greased on each side of the front suspension, and both u-joints. All of the points on the front suspension had bolts in the holes where the Zerks screwed in. And the U-joints had threaded things like a set screw with a shoulder. The only way you knew they were supposed to get grease is if you bought the factory service manual. Which said you were supposed to remove the bolt, insert the Zerks, grease eh fitting, then remove the Zerks and replace the bolt. I put Zerks in all of them except the u-joints aat about 5,000 miles when i did the first lube and oil change.

My roommate had been a line mechanic at the Toyota dealership for about six years. I was out in the driveway one Saturday greasing the truck and changing the oil. He thought I was crazy to think they needed grease. I went over to my tool box, and got him the service manual. And, He was shocked that no one in any training he had been to had told them to do it.

TYM, and a couple of the other Asian tractor companies had issues with u-joints for the front axle, not having Zerks, not being on the Lube schedule in the owners manual, and being really hard to get to with the tractor on the ground.

The used TYM T233 tractor I bought was one of them. And one had failed and messed up the transmission. He paid for the labor and TYM sent the shop teh transmission, and “permanently” lubed u-joints.

This summer when I build the tractor shed, I’m planning on installing a grease pit deep enough I can roll down it on a stool and get to things.