Thoughts on extended warranty

[Scott Ocamb]

I purchased my stinger in October. I typically never get extended warranties. But since there are so many electronics on this car I would like thoughts people have on this topic.

I can still purchase the warranty, for the next year.

Thanks

 

[MisterMac]

This is just another car. I suspect your historical reasons for not buying an extended warranty remain valid. Personally, I do not purchase extended service plans on autos, ever.

 

[RonNSoCal]

I bought one too, but after thinking about it decided I really do not need it. I read on the contract I have 60 days to change my mind and cancel provided I have not used it, so I have requested a refund.

 

[nhcowboy28]

Nope.

 

[Dodger Blue]

I got it for my GT2 just because I've never had a car with this many electronic aids and power operated gizmos. I figured I could afford to pay a little extra for the peace of mind. If I have to replace even one or two things under that warranty during its life then it will have paid for itself. If not, no big deal. But that's just me, I've traditionally never bothered with extended warranties.

 

[RonNSoCal]

I got it for my GT2 just because I've never had a car with this many electronic aids and power operated gizmos. I figured I could afford to pay a little extra for the peace of mind. If I have to replace even one or two things under that warranty during its life then it will have paid for itself. If not, no big deal. But that's just me, I've traditionally never bothered with extended warranties.

This was initially our reasoning, but Consumer's Guide reports over half who buy them do not use them and the average repair cost for those who do is under $200. So our service contract was no bargain at $1500. Also, you do not have to buy this at the time of the sale and the price is negotiable, but our dealer told us it had to be purchased then and there and was being given to us at cost. In reality, it is an add on to increase dealer profits. And our so called warranty was through Assurance, not Kia Motors Inc. You will have to deal with them if you make a claim, not your dealer or manufacturer. Then there are deductibles with some plans and they can often opt to not use new parts in the repair. So is it really a great deal for you?

 

[MisterMac]

The extended warranty is a service contract that can be purchased anytime before the manufacturer warranty expires.

 

[JVsGT]

I went with the wheel/tire protection (had a wheel repaired and tire replaced on my first Stinger) for 5yrs and extended warranty (full wrap) that covers the car 10yrs 100K miles (no, I'm not referring to the standard powertrain warranty). Both have $0 deductible and they only cost me $1500 combined. What's more, you can cancel these warranties at anytime and get a prorated refund as long as it hasn't been used. One of the main reasons I opted for them was cost and because I plan to keep this car till it dies. Plus my interest rate was only .9% otherwise I probably would have purchased separately.

 

[evoMR]

I would say it really depends on how long you plan on keeping the car for and how much it ends up costing. I paid for an extended warranty on my ford fiesta and it has definitely paid off with all the issues it has had over the years. Always do due diligence on what the extended warranty covers

 

[Dodger Blue]

This was initially our reasoning, but Consumer's Guide reports over half who buy them do not use them and the average repair cost for those who do is under $200. So our service contract was no bargain at $1500. Also, you do not have to buy this at the time of the sale and the price is negotiable, but our dealer told us it had to be purchased then and there and was being given to us at cost. In reality, it is an add on to increase dealer profits. And our so called warranty was through Assurance, not Kia Motors Inc. You will have to deal with them if you make a claim, not your dealer or manufacturer. Then there are deductibles with some plans and they can often opt to not use new parts in the repair. So is it really a great deal for you?

How does Consumer Guide have accurate information on a car model that's only a few years old though? We don't know what might happen years down the road with the electronics in these things. If I'm wrong at the end then I'll accept that it cost me extra money, but at the end of the day I have peace of mind on a big purchase and that's important to me.

Again I usually don't bother with extended warranties but as a former electronics technician myself I know how finnicky modern technology can be (and how expensive it can be to replace).

 

[Dmango]

I purchased the extended warranty as well. it covers most of the components for 10 years 100,000 mile with zero deductible. It called WRAP coverage.

 

[RonNSoCal]

How does Consumer Guide have accurate information on a car model that's only a few years old though? We don't know what might happen years down the road with the electronics in these things. If I'm wrong at the end then I'll accept that it cost me extra money, but at the end of the day I have peace of mind on a big purchase and that's important to me.

Again I usually don't bother with extended warranties but as a former electronics technician myself I know how finnicky modern technology can be (and how expensive it can be to replace).

I am sure CR was not referencing a specific make or model. I am assuming Kias are great cars and am betting mine will not need anything significant that is not under warranty. We always have money in a savings account to deal with emergencies and worse case scenario, we will be stuck for some expensive repairs. But in all likelihood, we will not need the service contract and will have our $1500 for some other purpose.

 

[MisterMac]

Buying an extended warranty/service contract at the time of purchasing a new vehicle is not a good decision.

It is prudent to wait until your manufacturers warranty is about to expire. Then you can make an educated decision regarding the benefits based upon the repair history of your vehicle under warranty and the incidence of problems posted within forums like this one.

The KIA electronics warranty is 36/36,000. The bumper to bumper is 60/60,000 and the drive-train is 120/100,000.

Too many things can happen during that time. You may die, wreck your vehicle, find something newer and nicer to change into, grow to hate the car, you might have no issues at all and determine the car is reliable, and parts prices will decline due to improved supply of both new and used parts.

It is illogical to pay for something you won’t get any benefit from for many months/miles.

 

[nhcowboy28]

Food for thought.

the dealerships avoid doing anything that IS covered in the warranty... including lying and blaming you for things that are wrong.

how do you think they’ll handle then ”extended” warranty??

 

[Dodger Blue]

Buying an extended warranty/service contract at the time of purchasing a new vehicle is not a good decision.

It is prudent to wait until your manufacturers warranty is about to expire. Then you can make an educated decision regarding the benefits based upon the repair history of your vehicle under warranty and the incidence of problems posted within forums like this one.

The KIA electronics warranty is 36/36,000. The bumper to bumper is 60/60,000 and the drive-train is 120/100,000.

Too many things can happen during that time. You may die, wreck your vehicle, find something newer and nicer to change into, grow to hate the car, you might have no issues at all and determine the car is reliable, and parts prices will decline due to improved supply of both new and used parts.

It is illogical to pay for something you won’t get any benefit from for many months/miles.

Illogical? You're assuming nothing will go wrong for many miles. It's a warranty on things that aren't covered under the normal warranty. For all I know my display will die tomorrow because of a defect, or my backup camera, or my lane keep assist. There's a lot that isn't covered by the powertrain or bumper to bumper warranty and it's almost all electronics which can be very costly to replace. You can easily turn the "you don't know what will happen in the future" argument around in the other direction.

On that note, if I'm dead or the car is totaled, I really won't care that I dropped an extra thousand bucks on a warranty for something I don't need anymore, will I?

 

[MisterMac]

Illogical? You're assuming nothing will go wrong for many miles. It's a warranty on things that aren't covered under the normal warranty. For all I know my display will die tomorrow because of a defect, or my backup camera, or my lane keep assist. There's a lot that isn't covered by the powertrain or bumper to bumper warranty and it's almost all electronics which can be very costly to replace. You can easily turn the "you don't know what will happen in the future" argument around in the other direction.

On that note, if I'm dead or the car is totaled, I really won't care that I dropped an extra thousand bucks on a warranty for something I don't need anymore, will I?

The extended warranty covers absolutely zero until the manufacturer warranty expires, period. On your new Kia, everything is covered, outside of wearables, for at least 36/36,000

 

[nhcowboy28]

Illogical? You're assuming nothing will go wrong for many miles. It's a warranty on things that aren't covered under the normal warranty. For all I know my display will die tomorrow because of a defect, or my backup camera, or my lane keep assist. There's a lot that isn't covered by the powertrain or bumper to bumper warranty and it's almost all electronics which can be very costly to replace. You can easily turn the "you don't know what will happen in the future" argument around in the other direction.

On that note, if I'm dead or the car is totaled, I really won't care that I dropped an extra thousand bucks on a warranty for something I don't need anymore, will I?

 

[Dmango]

I have a different perspective. I keep my car until it drop dead. I just roll in the cost of the extended warranty. A total of 1300 to the loan under a 0% Kia financing . Just think that any electronic component that failed after 3 years. I am covered.

 

[Coho305]

I purchased the extended warranty as well. it covers most of the components for 10 years 100,000 mile with zero deductible. It called WRAP coverage.

I got same one.

 

[RonNSoCal]

Buying an extended warranty/service contract at the time of purchasing a new vehicle is not a good decision.

It is prudent to wait until your manufacturers warranty is about to expire. Then you can make an educated decision regarding the benefits based upon the repair history of your vehicle under warranty and the incidence of problems posted within forums like this one.

The KIA electronics warranty is 36/36,000. The bumper to bumper is 60/60,000 and the drive-train is 120/100,000.

Too many things can happen during that time. You may die, wreck your vehicle, find something newer and nicer to change into, grow to hate the car, you might have no issues at all and determine the car is reliable, and parts prices will decline due to improved supply of both new and used parts.

It is illogical to pay for something you won’t get any benefit from for many months/miles.

I agree completely.