Is getting the extended warranty on a CPO worth it?

A

al_fredo

:
CX-5 (pending?)
Hi,

Just recently bought a 2015 CX-5 CPO with 16000 miles on it. Since it was sold in July 2014...the factory warranty is basically up, so now I switch to the standard CPO warranty, which is 12mo/12k miles on the general warranty, and 7y/100k miles on the power train.

The additional warranties suggested to me were a $0 deductible, 7yr/100k plan (Vehicle Protection plan - so I guess "bumper-to-bumper") - for $2600. This goes up to about 2x if purchased 14days form now.
And Tire/Rim for $925.

Typically, I would say no...but wondering what the communities thoughts on here. Since I only get 1yr bumper-to-bumper, and it's used - is it worth it?


Thanks...
Al
 
Big concern is TSBs up-to-date. You bought at 16k. So you had 20k bumper to bumper and 100k drivetrain which is good enough.
 
Generally it's not a good idea as you suggested. Insurance companies always make money. Just think about how they make their money ;)

Seriously though, it's more about your financial ability to cover unexpected repairs. If you won't be able to comfortably cover potential large repairs, then the insurance is valuable to you.
 
I'd save your money. The powertrain is where most of the expensive pieces live, and you're covered for a good chunk time. For peace of mind, put that $2,600 into a savings account for emergency repairs.
 
Hell to the naw. That's a nice chunk of change. Pretend you did and sit on that $2600.
 
Further, not really sure if the price would double in 2 weeks... I'd think that's a scare tactic to help force/swing you to buy it in the first place.
 
banjos-n-beer said:
Further, not really sure if the price would double in 2 weeks... I'd think that's a scare tactic to help force/swing you to buy it in the first place.
Click to expand...

Definite is...I think you could get the price cut in half, and I still would say hell to the naw.
 
I got a bumper to bumper Mazda Extended warranty with $100 deductible, 6 year/100k miles at dealer cost, or so I was told, for $1300, $2600 or more is way off base...
 
Thanks guys. I knew it was all upsell, and got out of there just delaying the decision to do more research. The key thing for me was that I anticipate driving a low # of miles. I'm not even using this to commute to work, as I can walk to train station, so it's in-town transport...and occasional road trips. Figure the wear and tear will be low (will be in a garage).
 
CPO warranty should be good enough, if anything the biggest issue would be the trans.
 
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