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- 2023 CX-5 2.5 Turbo AWD Auto
RIP 8/23:2013 CX-5 Sport FWD Auto 120k
I dumped my CX-5 finally
- Thread starter Unobtanium
- Start date
+1, let him enjoy his moment. Hell, he's even got me looking at them now, probably pick one up in the next year the way I'm feeling right now.
As many have suggested, there's two ways to look at Extended Warranties.
Financially - They are a great deal for the seller and odds are against the buyer collecting more than the cost in warranty repairs over time/
Peace of Mind - If a $1000+ repair bill will create financial problems or concerns, purchasing an EW will provide the buyer with insurance against such issues.
I purchased one EW in my lifetime. When I bought my 2015 Jeep Wrangler, FCA was offering their LIFETIME MAXCARE warranty, which extended to bumper to bumper warranty with no limits on time or mileage. $100 deductible per warranty visit, free loaner while the Jeep was under 100k miles. Down the road, if a repair estimate were to exceed the KBB value of the Jeep, FCA would cut me a check for the KBB value and the warranty would end. All for a negotiated cost of $2400. Knowing FCA quality, I still can't figure out how they could offer this, other than the fact that they were likely betting that the vast majority of customers would not keep their vehicles longer term. In any case, I recouped way more than my $2400 premium. FCA has now done away with that offering, so I'm sure they found it to be less profitable than expected.
PERSONALLY, I avoid any EW with mileage limits, but that's just me. It's a highly personal decision...........
Financially - They are a great deal for the seller and odds are against the buyer collecting more than the cost in warranty repairs over time/
Peace of Mind - If a $1000+ repair bill will create financial problems or concerns, purchasing an EW will provide the buyer with insurance against such issues.
I purchased one EW in my lifetime. When I bought my 2015 Jeep Wrangler, FCA was offering their LIFETIME MAXCARE warranty, which extended to bumper to bumper warranty with no limits on time or mileage. $100 deductible per warranty visit, free loaner while the Jeep was under 100k miles. Down the road, if a repair estimate were to exceed the KBB value of the Jeep, FCA would cut me a check for the KBB value and the warranty would end. All for a negotiated cost of $2400. Knowing FCA quality, I still can't figure out how they could offer this, other than the fact that they were likely betting that the vast majority of customers would not keep their vehicles longer term. In any case, I recouped way more than my $2400 premium. FCA has now done away with that offering, so I'm sure they found it to be less profitable than expected.
PERSONALLY, I avoid any EW with mileage limits, but that's just me. It's a highly personal decision...........
For our next new car in around 2020-21 or so...if we do get an extended warranty. We will look into Geico's Mechanical Breakdown insurance. You have to have Geico insurance and a newer car under certain age/mileage. It's the highest reviewed Extended warranty coverage I can think of.
https://www.geico.com/reviews/car-motorcycle-atv-rv-boat-insurance/mechanical-breakdown-insurance/
https://www.geico.com/reviews/car-motorcycle-atv-rv-boat-insurance/mechanical-breakdown-insurance/
I think your dealer quoted you a new fuel pump- fuel pressure regulator is a 300ish dollar job done per what I saw- fuel pump is the big one you def don't want..not that it matters now but just sayin- maybe not quite as good a deal as it appeared. Yeah long term car loans make me want to (puke) but you did get a good rate.
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- RDX Aspec Adv.
You're right on it maybe not being as good of a deal, but they still gave me $9200 for a car with $8K, and sold me their GT-R at invoice and gave me my rebates, so I'm not upset even if that is the case.
I didn't want a long term loan, either. Or any loan. That's why I was trying to just keep mine and pay it off, but this adds enjoyment to my life, and peace of mind for the life of the loan, with the 150K mile warranty, and those two things finally tipped the scale.
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- RDX Aspec Adv.
Yeah, I love the color. Got similar on my 370Z in 2012. I was very lucky my dealer had the exact thing on their lot that day. I looked long and hard, and considered a GLA45 AMG, but ultimately upkeep and the price of tires overpowered my desire for raw performance and a swank keyfob. I like this color, as it's very JDM, and I think it just looks good on curves.
I went more lux because every car I've owned has turned out to be "slow", in time, even my C6 Z06. However, "nice" is always nice, and after a 10 hour road trip, you REALLY appreciate a lack of noise intrusion, a good NAV system with traffic and weather radar, and the heated and cooled seats were just too awesome to pass up.
*3 year lease value show the Touring losing 2% value less than the GT-R. I can live with that. The REAL market will dictate that that turbo motor holds value far better than the Touring. I learned that a long time ago with sports cars. The better motor will carry the day.
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Yeah I mean I've given Uno some eyerolls on other posts but I agree with this logic here, and my own experience bears similar fruit. In the last 3 years on my 2011 Mazda3 I've had to get 2 new motor mounts (early 2017), ABS control unit (late 2017-2018), and fuel pump (late 2018). Those costs were north of $2000 IIRC, and I'll be hitting 120k in the next month. Up until then everything has been fairly good.
The only reason I haven't dumped it yet is the want for a bigger down payment on a CX5 to keep monthly low, so I've been doing what others say they do without the warranty - using the new car fund as a source for repairs/maintenance. But I will say, if the next repair is 1k+, I probably will dump my 3 early, go from the planned 60mo to 72mo, and getting a warranty with it for the same reasons that Uno has.
@Uno - I've also heard the auto-folding mirrors can get stuck and start breaking in 3 years or so, especially with ice, so with your luck, you can add that to your list of reasons to have gotten the additional warranty. Also, is recalibrating the cameras/safety equipment covered in the event of needing to replace the windshield for cracks/chips? If so that's another pretty penny.
For what its worth I think you made a reasonable and logical choice given your situation.
Congrats on the ride - I'm still on target to join the club by Q4, maybe quicker now that I've cut the cord and Verizon gets a good deal less from me for TV
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- RDX Aspec Adv.
Yeah I mean I've given Uno some eyerolls on other posts but I agree with this logic here, and my own experience bears similar fruit. In the last 3 years on my 2011 Mazda3 I've had to get 2 new motor mounts (early 2017), ABS control unit (late 2017-2018), and fuel pump (late 2018). Those costs were north of $2000 IIRC, and I'll be hitting 120k in the next month. Up until then everything has been fairly good.
The only reason I haven't dumped it yet is the want for a bigger down payment on a CX5 to keep monthly low, so I've been doing what others say they do without the warranty - using the new car fund as a source for repairs/maintenance. But I will say, if the next repair is 1k+, I probably will dump my 3 early, go from the planned 60mo to 72mo, and getting a warranty with it for the same reasons that Uno has.
@Uno - I've also heard the auto-folding mirrors can get stuck and start breaking in 3 years or so, especially with ice, so with your luck, you can add that to your list of reasons to have gotten the additional warranty. Also, is recalibrating the cameras/safety equipment covered in the event of needing to replace the windshield for cracks/chips? If so that's another pretty penny.
For what its worth I think you made a reasonable and logical choice given your situation.
Congrats on the ride - I'm still on target to join the club by Q4, maybe quicker now that I've cut the cord and Verizon gets a good deal less from me for TV
Awesome! Thankyou, as well. I would presume they would properly replace the part...which involves re-calibration. I read the fine print, and the warranty pays consumer rates for dealer labor. Very good warranty for them, and ergo, for me, as they aren't skimming the margins to do work "as cheap as possible for the warranty".
Hmmmmmm........ All those positive reviews ON the Geico web site. How convenient for them.
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- RDX Aspec Adv.
Buying my insurance from the dealership that will be servicing it likely has some good-will advantages if there is ever a disputed claim. Remember when my rear diff got water in it and they still ate that $2800 bill under warranty? yeah. good will matters. They gave me $9200 for a vehicle that is worth $8100 in "Very Good Condition"...when it was broke with an unknown ailment that prevented it from running anywhere near properly.
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...probably should've posted 3rd party reviews.
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- Plano, Texas, USA
Like I'd said in the other thread, I thought you would give up on Mazda and get something else like 2019 Toyota RAV4 Hybrid with sport suspension. And I also thought you would like to get a used vehicle from the financial point of view. I guess you just couldn't resist the power and torque of the CX-5 2.5T which is having. And don't complain the gas mileage in the future if you drive hard enjoying the big torque from your turbo because poor gas mileage is expected on your new CX-5 GTR. Congrats!
A former car salesman knows how to talk to current car salesman getting the best deal out of it! Nice story!
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- RDX Aspec Adv.
Thank-you! So far, mpg isn't bad at all. WIll re-evaluate by end of tank, but on par with my 2015.
Uno you planning to go with which octane gas?
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- RDX Aspec Adv.
Probably 93, at least for a while.
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- San Antonio, Texas
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- '15 CX-5 Miata AWD
Now that you are in a relatively quick car again, are you doing mods? (alright)
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- RDX Aspec Adv.
Tint and PPF.
Damn...stuck with 91 max on the west coast states. I would assume 93 returns higher HP than 91. On side note...the new style CX-5 headlights look like a breeze to install PPF compared to earlier models.
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