Extended Warrananties are they worth it?

[mhbell]

For those of you wondering about Extended Warranties! Are they worth it? Here is a link to one mans Opinion and experience with extended warraties.
Click Here I swore that I would never get another Extended warranty, But after buying a used 2012 Denali that was out of warranty, I got one that covers everything. The dealer wanted $895 to do a complete inspection of the unit. So I opted for the Extended Warranty. I am already having regrets that I have been a (lollypop) again.
Mel

[Adair1965]

We had a 2009 jayco pop up that we got used and was out of warranty and had big bills when it needed work. We just brought a 2014 Kodiak 291resl and got the extended 5 year warranty. I want that piece of mind it offers.

[mhbell]

[QUOTE=Adair1965;10008]We had a 2009 jayco pop up that we got used and was out of warranty and had big bills when it needed work. We just brought a 2014 Kodiak 291resl and got the extended 5 year warranty. I want that piece of mind it offers.[/QUOTE

I can understand where your coming from. we are in our 70's and I guess peace of mind was part of the reason I got the 5 year extended warranty plus the fact that the dealer wanted $895 to inspect and correct any problems. I just felt I could not take the chance the TT being used and all. I probably should have put the money in the bank for what the extended warranty cost. Oh well.

[ATCguy]

My biggest problem with extended warranties is what they call them. The marketing salesmen are pretty good at disguising something without coming flat out and lying.

Let's take a new car for example. They want you to buy the extended "5-year, 60,000 mile warranty". Well, the trouble is... that's not what they're REALLY trying to sell me.

The car already comes with a 3-year, 36,000 mile warranty... so what they're REALLY selling me is a 2-year, 24,000 mile warranty. They're not trying to sell me another 5 years & 60,000 miles on top of what the car already has.

So that's how I look at it when comparing the price. Is $X.xx amount of dollars worth the extra 2 years & 24,000 miles.

Now, I'm not making a blanket judgement as to whether extended warranties are good or bad. I'm just saying that same type of analysis should be done when considering one.

My general feeling on this is this:

If the cost of repair or replacement will cause you great financial difficulty, then buy it. If the cost of repair or replacement is something that would only cause a small burp in your financial picture, or if the item is something that I could do without if I had to... then I don't buy it.

And that's simply a fancy way of saying this: Based on my budget, I have a dollar figure in my head that I could spend on repairing or replacing something that wouldn't cause me too much heartache. If the item I'm thinking of buying the extended warranty on costs more than that... then I buy it. If not, I don't.

[rcharrette]

You nailed it with this statement:

If the cost of repair or replacement will cause you great financial difficulty, then buy it. If the cost of repair or replacement is something that would only cause a small burp in your financial picture, or if the item is something that I could do without if I had to... then I don't buy it.

We bought a 2008 Land Rover LR3 last year. Having already owned a LR Disco 2 previously I'm pretty familiar with these trucks and the cost to repair them. We bought it with 50K on the odometer and purchase a 30K extended warranty. Within the first year we had the suspension compressor, one wheel bearing, MAF sensor and windshield washer system all go out. Nothing really all that crazy for a 5 year old truck but in total close to $4K in repairs, maybe a bit more! Our extended warranty more than paid for itself as everything was covered.
We also purchased an extended warranty on our 2014 Kodiak. I'm not sure if we'll recover the money we spent to purchase it but a $2K repair bill would certainly put a heck of a dent in our budget so we like the peace of mind. We also use the heck out of this thing, dry camping off of dirt roads during Spring and fall and currently we are living in it for a month in California so I expect some things are going to fail on this over then next year or so with miles and wear and tear. For us it's peace of mind!

[crazycarrothers]

Hi, my name is Jim and I am located in Whitehorse, Yukon. Am new to the site and am not sure how this works, but my wife & I are looking at trading our camper and getting a Denali 5th wheel. We will be full time RVers in winter going south and summering here in the Yukon for summers. Any advise on Denali trailers would be appreciated. Thanks

[Adair1965]

FRom what I've seen at RV shows, Denali's appear to be well appointed units. Good luck in your search. Don't forget to buy an extended warranty with it for piece of mind.