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To Buy or Not To Buy Extended Service Warranty-before oringinal expires

13K views 28 replies 19 participants last post by  keeponvaning 
#1 ·
I need your help deciding to buy or not buy an extended service warranty before my original warranty expires. My Van is a 2014 3500 EXT Gas engine with 15K miles on it. I bought it certified used and didn't consider buying the extended warranty at the time of sale. I have had my van for about 1.5 years and my up-fit/build out is nearly complete. The van has been at the dealership for a normal recalls but also a handful of other issues: leaking coolant (radiator replacement...thank you forum), power steering leak (PS cooler replaced), some emission components, and a couple of others too.

I feel I have definitely used the original factory warranty and in a month it expires...I live in a relatively small town with a dealership 30 miles away and having the option of a rental car during repairs has been a saving grace.

So should I buy an extended service warranty? What would you do? I plan on keeping that van for a long time..! What are folks paying for an authentic FCA extended warranty?

Thanks in advance!
 
#3 ·
Very good questions.For me personally , I have always got the manufacturers extended warranty. And have only used it once , for a leaky o ring. We don't put that many miles on before the expiration .
When I got the PM , I was told FCA did not offer an extended warranty ? Yes mine was used (580 miles) . They sold me a GM (dealer) warranty ? For a lot!
I may be dumb but I is not stupid, There were 3 parties coming the next day to buy the van, so I was hot to get the RS on the van. I can cancel the warranty later. Hopefully you'all can set me strait on the extended warranty.
Thank you , Ken
 
#4 ·
I got the Mopar Vehicle Protection, a product of FCA US LLC when my Promaster was almost a year old. You can pay by the month, no interest. A mechanic friend suggested because of the electronics cost of replacement. He got a warranty for his mon who lives 1000 miles away. The cost is more the older the vehicle becomes. I was told if I waited a few days, the price would go up. My research showed the price increase was the day I mad my purchase. The warranty is transferable to the new owner. https://www.mopar.com/en-us/care/mopar-vehicle-protection.html
 
#5 ·
What were the terms and how much did you pay? I called mopar and spoke with their vehicle protection plan(aka extended warranty)folks and they gave be a big money quote. I am really curious what you paid Samuel Palmer? Thx
 
#6 ·
I can't tell you what to do, but let's think for a minute about what is being proposed:

I want to sell you a warranty on a vehicle with 15,000 miles, where every single part was brand new 15,000 miles ago, and every single part was OEM - generally the highest quality. This warranty won't cover the engine, since that already has 100,000 mile warranty for internal parts. This warranty also will require fighting to actually use, since it'll be buried in the fine print what it covers and what it considers "normal wear". Will it cover a $20 belt? Will it cover the engine if the $20 belt breaks and overheats the engine?

You see where I'm going with this. Let me point out something else; any decent shop can work on the PM. There's no rocket science in it, and there are no unobtainium parts. There is zero reason to ever have a dealer touch it again, unless you like paying twice as much, waiting twice as long, and getting crap work.

Let me point out another thing: I don't know what they are charging for this warranty, but I bet you could buy a LOT of repairs for the money. Used, the transmissions are $600 and the engines $1600.

More to the point: I have 261k on one PM and 230k on the other, both are 2014s. There have been repairs, but nothing I consider excessive. I assume this warranty doesn't cover regular maintenance. You won't be due for plugs for another 85k! You might want to service the trans at 50k, that's $200 about 3 years from now at the rate you are going. Both of mine have the original belts, original injectors, there's no fuel filter, orig alternator and water pump. I got 210k out of the Vanco tires (rear only, I don't rotate).

Have I made my point? An extended warranty is a complete ripoff. But if it gives you peace of mind, by all means. I'd have more peace of mind with the cost of the warranty in a bank account somewhere.
 
#7 ·
Cheers to Kip on Truckin !!! Yes , peace of mind. My "mystery" warranty was more than twice what I paid for my daughters Ford warranty. I'm a 1099 vendor for this dealer. I might have "stole" the van but the fudge job might be in the warranty. If I cancel will I get booted off the lot?
In my case(s) the year expires before the miles , hence peace of mind. If that was reversed, the $1600.00 would be cheep vs a trans,motor etc.
The o ring cost me $100.00 deductible. And that o ring was on a PS hose replaced at under 10,000 miles.
I have tried to get manufacturers warranties because I witnessed too many janky "dealer" warranty issues . For example, tech tears down , makes diagnosis, pushes vehicle outside while waiting days/weeks for wino adjuster to show up and then deny legit claim.
If you would like an extended warranty, go manufacturer. But think hard if you really need it . Kind of like lease vs buy. Folks take a beating at the lease end because of over miles, minor damage, etc.
Again cheers to Kip for breaking it down.
 
#8 ·
I like the discussion...keep it coming. All these points have been pinging inside my head. I have called about 10 dealerships to get a price quote and only have 3 quotes....$1500, $2400, and $2700 for 7yr/100K with a $100 deductible per visit. Crazy $ at this point. Also the time clock of the warranty is from your in service date of your vehicle??? Mine is April 30th 2014. Really, my 7yr/100K would be done in year 2021? Why does that make sense? I am buying a warranty where half of the years are covered by the original 3 year/36K factory warranty that comes with the vehicle?

I read a consumers report regarding buying extended warranties and the overall impression is that they are a waste of $. However, they did state if you have a Mercedes, Dodge, Ram, Chrysler vehicle the purchasers of the extended warranty got the cost benefit from buying it...

You-all can see where I am leaning...
 
#9 ·
On inexpensive items such as TV or a washer I do not buy a warranty. Usually if they are going to fail it will be shortly after I buy them. If it lasts past that it usually lasts a fairly long time. And when it does die its usually cheaper and easier to just a buy a new one.

More expensive items such as our vans do have more potential costs to consider. Its not easier or cheap to buy a new one. And repairs can be expensive. I have found that with cars and trucks I have owned over the long term the cost of repairs has been less than the cost of the warranty. Having a major failure such as an engine or transmission may cost more but I think those failure are unlikely during the extended warranty period.

I do not currently plan to buy an extended warranty for my van.
 
#10 ·
I'll tell you a story : I used to work in camera repairs. Family business. We were the largest independent camera repair company in the country. Did tons of sub-contract work for the major camera companies. We were approached by a big retail chain that wanted to offer their customers extended warranties. They offered us $10 for each warranty they sold , expecting only a certain percentage would ever need repairs within the warranty period , and we would take care of all labor for repairs. We soon started receiving checks , and continued to receive them for a few years until I questioned one of the chain's execs about never having done a repair yet. He told me it's a win-win. Apparently, the customer's contract specifies that their camera must be brought in every six months for cleaning and inspection or the warranty is void. Fine print. I broke ties with them right there. Found out later that they faced a class-action suit. I have never purchased an extended warranty since.
 
#11 ·
If you never buy a warranty on anything you will always be ahead of the game. Buy one and you've lost. Warranties are huge money makers for the sellers as shortone mentioned above. If you must buy one for piece of mind bargain, bargain, bargain. The going price is what you are willing to pay.
 
#12 ·
FYI: My Promaster's alternator went out. It was replaced under warranty. $0 out of my pocket; the alternator is about a thousand bucks normally. This was under the normal warranty of the vehicle, but now I am thinking I may bite on the extended warranty. I have over $90k in that vehicle, and it may just be worth the cost.
 
#15 ·
My alternator went out on my Sprinter and it would have been the same ridicules kind of expense, BUT a new Bosch alternator from Amazon was under $150 and simple to install. That's how these dealers get rich - theyovercharge and scare people with high prices and horror stories to sell way overpriced warranties. Just about any competent repair shop can do any of the necessary driveline repairs you will ever need on a gas Promaster for a quarter of the dealers charge.

Insurance typically makes the sellers rich and the buyers poor (at least in the case of extended warranties). For every "The warranty saved my life" story there are hundreds of "it was a waste of my money" stories out there. As I pointed out in a previous post - the dealers typical make as much profit off these warranties as they do the original sale of the vehicle. They don't sell them for your piece of mind but for their own bottom line. If you must buy one you can usually negotiate the price down substantially as someone else has posted about BUYER BEWARE!
 
#13 ·
I bought extended warranty on both of our diesel Promasters. Roughly $4500 CND each. (7years/160,000km.) After bad experience with Sprinters, I didn't want to take the risk, I wasn't sure how these Promasters would perform.
After two years, they haven't been to the dealer to much, but in the years to come, as the mileage goes up, not sure.
Last week one spent 2 days at the dealer having a check engine for the DEF system. Glad it was on warranty. When I bought the extended warranty, all the emission add-ons and electronics was my concern.
On the Sprinters 3 out of 5 needed a new PCM at one point, besides many other things...
So I took the chance on the warranty, time will tell!
 
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#14 ·
Extended warranty here consumed <10% of the DISCOUNT off MSRP, or was 2/3rds of my value obtained in exchange of the 16-year-old pickup I traded in... which was about the cost of a new set of tires that truck so desperately needed.

I keep teasing the money-man at the selling dealership about extending warranty to its maximum whenever I visit hoping he'll toss out a low at-cost number but it hasn't happened yet.
 
#16 ·
Be careful negotiating an extended warranty. Twenty-some years ago my brother purchased a new Jeep Cherokee. The 'closer' at the dealership gave him the pitch about extended warranty (covers this, this, this, transferable, etc...) for $1800. Brother said no thanks, too expensive. Closer said, how about $1100 ? Still too much. How about $850 ? OK, deal. Less than two years later my brother was made a partner at his firm and got a company leased car. Jeep was sold to a friend, who found out the extended warranty was an aftermarket warranty, and the company was out of business. Dealership just shrugged it off as bad choice, should have purchased the Jeep warranty.
 
#17 ·
I have been researching it a bit for my diesel PM and this part of the contract has me worried:

IMPORTANT! The following are not eligible for a Mopar Vehicle Protection Plan: Vehicles registered outside of the United States,
Guam and Puerto Rico; right-hand drive vehicles (except vehicles manufactured by Chrysler Group LLC); motor homes; taxis or
limousines (except vehicles placed in van pool service); emergency vehicles (ambulance, fire, police pursuit); vehicles used for postal
service (except vehicles manufactured by Chrysler Group LLC); vehicles used for dump truck or severe off-road use; vehicles
converted from two to four-wheel drive; vehicles altered or converted from the original manufacturer’s specifications;
 
#18 ·
Before buying my Chrysler Fiat extended warranty I did several dealers. It was interesting to see the difference in prices. I ended up paying $1000. less than the dealer I bought the trucks from.
 
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#20 ·
I don't know about others but here's what happened to me. since my van is a first year, I was apprehensive about it exploding at 50K miles. So when I was offered by mail to buy the FCA program while still in the warranty period, I inquired. (btw, I wouldn't consider a non factory warranty) I was surprised to hear my purchase would be twice normal since its a empty commercial van. I was floored $3500, to a max of 100k, I dropped the thought immediately. This was even after I pleaded it was a personal use van. no cigar... so don't get your hopes up.
 
#22 ·
I have the same apprehension. I called the largest FCA dealership in the West and the finance guy quoted me $3200 dollars for an extended warranty. He frankly told me that he wouldn't even do the paperwork for less than making $500 on top of the inflated comparison quote of $2700. Wow! Must be a lot of paper work??? He also gave me the commercial vehicle view point of the extended warranty; " Its priced so high because multitudes of employees would be driving the vehicle..." Hmmm! I have one last quote to confirm feelings about it being way over priced. I know all the 2014 owners are running into their factory warranty time period ending, just wanted to see if anyone bought an warranty extension and specifically what they paid...Seems like very few people bought one!
 
#23 ·
I’d be interested in what they got. I bought exactly ONE, a warranty on a washer/dryer and it turned out to be worthless even though it was a Westinghouse product. By the time I needed it they had sold off that part of the company! I got my $ back, just barely but it took a lawyer’s letter to do it. After that I said never again, you mostly don’t know what you will ever get. BTW I sourced the parts from the internet, fixed the washer for $70 and pocketed their $160 meaning the $90 I originally paid didn’t feel so bad, the lawyer was a pro bono friend deal. What has anyone got and how easy was that? Was it more than you paid?
 
#24 ·
I went through the 3year or 36k factory warranty in the 1st 3 months i had the van ( i drive for a living), there is a 100k powertrain warranty. The transmission started jumping out of gear at 58k miles.I have had no luck getting my van fixed, it is still at the dealer broken. 10 months this stay. I doubt an extended warranty would help if i cannot collect on the original warranty.
 
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#25 ·
Question: Are these policies similar to other insurance such that when the cost of repair exceeds BlueBook or some other nebulous value, they pay the lessor of the two values? This would take the bloom off the rose of a "Lifetime" or extended warranty even if it was available. About the time I'd need the warranty it would probably pay me less than I paid for it.
 
#26 ·
Thanks for all the input regarding my question on whether to buy an extended warranty... $2,500 for 7yr/100K/$100 deductible is outrageous! If you are shopping for a plan, call lots of dealerships and talk to lots of finance managers. I didn't get a FCA warranty quote below $2500. I think that is the market rate at the moment. You might be able to negotiate a better deal at the time of purchase so consider that if the extended warranty is your piece of mind...
 
#29 ·
Once you buy any kind of extended warranty on anything you have lost. Never, ever buy one on anything and you will come out way ahead in the end. Extended warranty’s are just an extra profit mechanism for the seller. Any money you pay for one will be more than whatever you will end up paying out in repairs over your lifetime!

Remember, insurance companies don’t sell these policy’s to protect you, they sell them to make huge profits from you ;)
 
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