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Is extended warranty worth it - real life experiences!
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Posted by Betsey Biggs (more from Betsey Biggs) on Tue, 7 May 2002 06:10:57 Share Post by Email
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I am a bit confused. In reading through these posts. Many disparage extended warranties as being not worth it... and this at a fairly low cost, when purchased during the manufacturer's warranty.

Yet at the same time, many people routinely advise to put aside $100 a month for maintainence. I am frankly a bit scared by all the noise of repairs. My old 9000 did not need many repairs until around 120K (then they really started kicking in, though the engine is still strong).

I am about to purchase a 96 or 97 900SE Turbo for $8000, with brand new brakes and having recently had the 65K service done. The quote from 1Source, which seems to have the most to offer me, is $3000. This seems outrageous, but at the same time turns out to be $62 a month spread over four years.

I would primarily like to hear from people who have USED extended warranties, not just those who have an opinion or have done research on them. I want to be sure that if I spend $3000 the repairs are done! It seems like a lot of money, but then again if I think about it being $750 of repairs a year it doens't seem like so much. Many people have posted that they were glad they had extended warranties, but did not post the company they worked with.

Are the warranties worth it? Bear in mind that I don't really have the cash flow to survive out-of-the-blue $2000 repairs... my 91 Saab just gave out on me (tranny at 155K) and I am borrowing money to buy this car.

Thx!

posted by 144.91.23...

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