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.

 

[3 Horse Ranch]

I just wish they would stop calling my number

They call my brother who is blind wanting to sell an extended warranty on his vehicle. The only vehicle he owns is a 1990 Chevy 1 ton dually with untold thousands of miles on it. (It has a 5.1 digit odometer) It hasn't been licenses in two years.

 

[jyoutz]

Who buys these warranties that people keep trying to sell me? Extended car and house warranties in particular is what I'm talking about. I have no idea what the rates would be but I'm sure it's difficult to collect on them.

Kevin

I bought a used truck from a dealership that my neighbor manages. He suggested a limited extended warranty from a company they have been dealing with and told me that he would show me how to double my money on the warranty. I used it once when an injector went bad due to junk in the fuel tank. Then he told me to take the truck to the dealership just before the warranty expired. They did a complete vehicle inspection and replaced every seal with a hint of seepage and any defects or potential problems they found. All billed to the insurance warranty. Sure enough, I did get my money back. And then some.

Would I buy an extended warranty from these people who call on the phone? Hell no.

 

[Jstpssng]

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.

Just use care when you're doing it. I'm sure that you know all of the potential hazards of grease pits.
A HS friend's father got around that by having a removable board or two in the wooden barn floor. They would drive over it, go down to the ground floor, and do whatever needed to be done.

 

[jigs_n_fixtures]

Just use care when you're doing it. I'm sure that you know all of the potential hazards of grease pits.
A HS friend's father got around that by having a removable board or two in the wooden barn floor. They would drive over it, go down to the ground floor, and do whatever needed to be done.

I plan on putting a pair of rollers on the sides of the pit, so if a tire gets close it keeps rolling it off, instead of letting it climb. It is what they use in the commercial lube shops.

 

[Jstpssng]

^^^^
There's also a hazard of fire or fumes trapping you underneath, as well as falling into it when a vehicle isn't over it.
So keep it covered when not in use, and don't let anybody throw a cigarette into the pit while you're doing a fluid change...
Things which you already know.

 

[tradosaurus]

Fridge is still going strong. Had to replace a light bulb. Going on 13 years. Need to order a new drawer for it if one is still available. Accidently overloaded it with beer

Replaced the heating element and control board for the dishwasher myself.

Cost parts and shipping. Was under $200.

Washer cost $350 and lasted 10 years. I think I was ahead on that one. Dryer was similar. paid $350 for that as well, but the store screwed up and gave me the $700 one. That thing is still going strong.

Stove, replaced the oven element. Didn't cost much. Was able to source that locally. 13 years so far

Flip the lid up and the control board is easily accessible. Couple screws and a quick connect. I would source that either locally or online and just pay for parts.

Ac unit after the initial repair covered by the home warranty worked 10 years flawlessly. Had to have the tech out this year to replace a capacitor. Bill was around $400. That will be the only time a tech will be out for a capacitor. As easy as that fix was, if it ever does it again, I'll source one and replace it myself.

Water heater was replaced by me. Picked one up locally and installed it myself. Can't remember what the new water heater cost, but it wasn't much.

I'm way under the $500 premium per year.

A home warranty is all about perspective and your personal needs.

Not everyone has a nephew that is an electrical engineer. Also not everyone is handy with troubleshooting. As long as I can get my home warranty for $500/yr I'm going to keep buying it. Again, no brainer for me.