Extended Warranty ????

S

somstein

Member

:

2015 Mazda CX5 AWD

• Aug 5, 2014

• #1

Hi when i got my CX5 AWD Touring model i was offered an option to take the extended warranty for 6 years/75000 and it was costing 1650 after negotiation. Which has 250$ deductible and the dealer mentioned it is a platinum coverage and it is bumper to bumper. Also he mentioned that this warranty is through a 3rd party. My questions are

1.) Is this is a good deal? and is it worth to keep it?
2.) My Geico has an item called Mechanical Breakdown Insurance which is existing on my current insurance and i am confused which is better? this is only 50$ more for 6 months. and it is for 7 years 100000 miles.

Any idea on this extended warranty info may help me.

 

E

erhayes

Contributor

:

2022CX5 PP

• Aug 5, 2014

• #2

I don't think this one is very good at $1,650 & a $250 deductable & only an additional 3 years or 36,000 miles. I don't understand the $50 more for 6 months or do you mean 6X$50 + $1,650 =$1,950 total? I think they both stink. JMO Ed

 

S

somstein

Member

:

2015 Mazda CX5 AWD

• Aug 5, 2014

• #3

what i meant by 50$ for 6 months was, my auto insurance goes higher by 50$ for every 6 months if i have the MBI coverage. SO for like 7 years i will be paying arnd 700 $ to geico... Roughly 100 per year...
Can you please share if you got extended warranty? and if so please share some pricing details and some knowledge. I am now having coverage thro the dealer as well as thro geico ... I know it is duplicate... but not sure which is better ...
wanted to know what everyone else is doing?

 

E

erhayes

Contributor

:

2022CX5 PP

• Aug 5, 2014

• #4

I never buy an extended waranty. A real money maker for the dealer. I feel that if something major is wrong with my new vehicle, it will have surfaced in the first 3years/36,000 miles. Ed

 

T

trapperjohn

Member

:

CX-5 Grand Touring

• Aug 5, 2014

• #5

erhayes said:

I never buy an extended waranty. A real money maker for the dealer. I feel that if something major is wrong with my new vehicle, it will have surfaced in the first 3years/36,000 miles. Ed

Click to expand...

Ditto what Ed said. If something major is going to surface it's 95% chance it will happen in the first 3 years/36k. Put the money in the bank and use it to finance a future repair. Chances are you'll never need it.

 

K

Kedis82ZE8

'15 CX-5 AWD GT w/Tech Pkg

Contributor

• Aug 5, 2014

• #6

I'm on the fence myself... as my $1800 extended warranty on my G has so far netted $6500 in repairs.

AC Compressor, steering rack and transmission valve body are the big ones.

 

E

erhayes

Contributor

:

2022CX5 PP

• Aug 5, 2014

• #7

G ?

 

K

Kedis82ZE8

'15 CX-5 AWD GT w/Tech Pkg

Contributor

• Aug 5, 2014

• #8

erhayes said:

G ?

Click to expand...

Sorry... '07 Infiniti G35x... hoping the Mazda is far more reliable.

 

D

dergibog

Member

:

Mazda CX-5 '14 GTw/Tech

• Aug 5, 2014

• #9

Not a good deal to me. I've always understood warranties as money makers for the seller. As with a lot of things a warranty is a gamble with the odds against you, & I'm not a gambler. Just me though.

 

V

vroom

Member

:

CX-5 GS AWD 2014, Sky Blue Mika

• Aug 5, 2014

• #10

Basic law of economics: if they continue selling it, they are making money off of it, which means that on average you will be losing money off of it. If you want to pay for piece of mind, go for it, but chances are that is all you will be buying.

I have never bought an extended warranty, and never will. I won some and I lost some, but as expected I'm up by thousands on average.

 

I

Iceman04503

Member

:

2015 Mazda CX-5

• Aug 5, 2014

• #11

Im trying to decide if i want the 7 year / 100k miles extended warranty on the mazda3 s gt im about to buy. Ive negotiated down to $1776 from $2500. I had extended warranty on my scion tc and when the struts and water pump went out on it, the extended warranty covered all of it we over what i paid for the warranty.

 

K

katman

Member

:

vw jetta tdi

• Aug 6, 2014

• #12

Third party service companies go out of business ALL the time! I still remember when Warranty Gold, hawked on edmunds disappeared. I am also not a believer of manufactor warranties; better off putting the $ in the bank.
The one exception was for my '11 Kawasaki Concours. Standard warranty was 3 years unlimited miles, got the kawa extra three year warranty for $339, which is pretty much a steal.
If mazda offered three extra years for $400 w/ no ded, I'd take it. But I know they won't.

 

I

Iceman04503

Member

:

2015 Mazda CX-5

• Aug 6, 2014

• #13

Got it down even more. From $1776 to $1445.

 

A

ale78

Member

:

Mazda CX-5

• Aug 7, 2014

• #14

I signed up for the Mechanical Breakdown Insurance through GEICO with $250 deductible for $23.99/6 months. Renewable for up to 7 years or 100k miles. I think my peace of mind is worth that price.

Not sure if I'd want to pay more than $1,000 for a 7 year warranty unless there was no deductible. Suggest you check your insurance company to see if they offer it. Might even be worth switching insurance companies if its a big enough savings overall and you're set on getting the warranty.

 

Last edited: Aug 7, 2014