Wisdom of Purchasing the Extended Warranty

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PhilRich

Member
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Mazda 2017 CX-5
I just bought a Touring CX-5 and elected not to purchase the warranty that extends coverage out to 8 years.

What is the wisdom of this choice, or what is the likely hood of electrical computers, etc. failing? The added warranty increases the payment by $43 per mo on a 60 month plan.

I'd like to hear what experience you all have had concerning this choice and whether the extra warranty was needed. This is my first Mazda, however have purchased 2 other new vehicles since 2008 and didn't need the warranty. The dealership is holding the paper work until this coming Tues in case I change my mind about the warranty.

I was surprised that there is also a paint warranty that cost $995.
 
PhilRich said:
I just bought a Touring CX-5 and elected not to purchase the warranty that extends coverage out to 8 years.

What is the wisdom of this choice, or what is the likely hood of electrical computers, etc. failing? The added warranty increases the payment by $43 per mo on a 60 month plan.

I'd like to hear what experience you all have had concerning this choice and whether the extra warranty was needed. This is my first Mazda, however have purchased 2 other new vehicles since 2008 and didn't need the warranty. The dealership is holding the paper work until this coming Tues in case I change my mind about the warranty.

I was surprised that there is also a paint warranty that cost $995.
Click to expand...

Jump ball! [emoji897]

You might want to consult recent threads on this topic.
 
There are two kinds of people in this world...those that always buy the warranty and those that never do. I am the latter. I figure I saved enough money not buying the warranty all these years to more than make up for the repairs I will have to fund out of pocket
 
43 a month!? He'll no. Mine is like 20 a month, 7 year 100k mile bumper to bumper 100 dollar ded. I buy it because of all the issues vehicles have. I've read plenty of threads on here that make me feel like I did a good thing.
 
2600..that's some pretty expensive piece of mind but if you got the extra wad to roll for it knock yourself out. I'd give you nice odds on not coming close to reaping that much value out of it but..as my momma say- its your money honey- mama said that she also said that extended warranties are the debil! jk;)
 
These are also typically not going to be MAZDA warranties, but rather generic "insurance" warranty companies.

Not to mention nearly every time I have said "NO" at a predatory dealer the first time, the warranty price magically goes down by 50-75%... (chair)

Do not forget that the insurance company is likely only charging the dealer $1000 for the warranty that they markup and sell to you for $2600! (braindead

12 yrs ago buying the Mazda5, I was offered one for $2200, I said no, it then went down to $1450, I said no, and then the price became $1250, so I finally said yes...

In that particular case, I kept the car to 100,000 miles, and it ended up that I used the warranty 1 time, which was for failed A/C compressor. The repair bill that was covered by the warranty was $1200...
 
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There's no right or wrong for this. If you have the $$$ and if it gives you a better piece of mind, buy it. If you think it's a waste of money, don't get it. We will never know for sure if any major repair lies ahead. It's just like car insurance, we pay it but not always use it.

With that said, I bought the extended warranty, it was $1,800'ish if I remember correctly. I bought it for my 2014 mazda 3 sGT too but got a partial refund after I traded it in for the CX-5. I only used the warranty once to replace the heads up display which was a $900+ job for parts and labor. In the end, do what makes you feel better, there's always going to be people out there saying it's a waste of money but I could care less, it's just less things to worry about later on.
 
lowincash said:
With that said, I bought the extended warranty, it was $1,800'ish if I remember correctly. I bought it for my 2014 mazda 3 sGT too but got a partial refund after I traded it in for the CX-5. I only used the warranty once to replace the heads up display which was a $900+ job for parts and labor. In the end, do what makes you feel better, there's always going to be people out there saying it's a waste of money but I could care less, it's just less things to worry about later on.
Click to expand...

How old was the Mazda 3 when the HUD had to be replaced?
Why wasn't it covered under the 3yr manufacturer warranty?

You should care about wasting money. And I fail to see how there is "less to worry about later on". You still have to deal with the repairs, and you could simply use the money saved from not buying these dumb warranties to pay for them.
 
Why did my dealer not offer me a warranty? Never mentioned it...
 
I was going to say "because my dealer isn't sketchy". [emoji23]
 
lowincash said:
There's no right or wrong for this. If you have the $$$ and if it gives you a better piece of mind, buy it. If you think it's a waste of money, don't get it. We will never know for sure if any major repair lies ahead. It's just like car insurance, we pay it but not always use it.

With that said, I bought the extended warranty, it was $1,800'ish if I remember correctly. I bought it for my 2014 mazda 3 sGT too but got a partial refund after I traded it in for the CX-5. I only used the warranty once to replace the heads up display which was a $900+ job for parts and labor. In the end, do what makes you feel better, there's always going to be people out there saying it's a waste of money but I could care less, it's just less things to worry about later on.
Click to expand...

There is definitely a right from wrong. They aren't telling you the warranty is highly negotiable,and can be bought after purchase. They're holding this guys paperwork,and charging him $2400 for something that can be had for <$1k. That is if you feel better having one. I never have,and never will...
 
bluegrass said:
How old was the Mazda 3 when the HUD had to be replaced?
Why wasn't it covered under the 3yr manufacturer warranty?

You should care about wasting money. And I fail to see how there is "less to worry about later on". You still have to deal with the repairs, and you could simply use the money saved from not buying these dumb warranties to pay for them.
Click to expand...

My mazda3 had already passed the manufacturer warranty, I replaced it at around 40k or something like that. I could have replaced it before the original warranty was up but the HUD was only giving me problem once in a long while. It then started having problem every day so I finally got it replaced.

That's totally fine if I'm paying for future repairs up front first. I was told I could add the warranty within 30 days of purchase if I remember correctly. I knew I wanted it so just got it at purchase time. They wanted $2500 for it but got it down to $1800, I guess I could have negotiated a bit more. Again if you guys feel like it's a waste then don't get it, that doesn't mean everybody feels that way.
 
NelsonLewis said:
There is definitely a right from wrong. They aren't telling you the warranty is highly negotiable,and can be bought after purchase. They're holding this guys paperwork,and charging him $2400 for something that can be had for <$1k. That is if you feel better having one. I never have,and never will...
Click to expand...

Yea I was told you can purchase the warranty within some time after purchase but since I knew I wanted it I just got it at the same time. I wish I could be like you but not everybody will feel the same way.
 
Getting an extended warranty when buying a new vehicle does not make any sense to me. With Mazda you have three years of b2b warranty and five years powertrain. You can drive the car until warranty is almost up (mileage or time based) and then decide if you want to keep the car or not.

If you want to keep it, at that point consider how reliable the car has been for you and only then you should decide if an extended warranty is worthwhile.

The insurance companies love those people that get an extended warranty, then trade in the car before the factory warranty is up. Easy money.
 
Everything is negotiable. If you buy one, just don't pay their original price.

My wife wanted it on her 3 we just purchased and I talked down the price on it, got 'free' oil changes for life included (and undercoat etc as well) for the price.
 
Yea I only bought the extended warranty only because I'm keeping the car for a long time. I had thought I was going to keep my mazda3 for at least 7-8 years but due to family issue I needed a bigger car. I got a little over half of what I paid back since I didn't keep the car that long so it wasn't a big deal. If you trade cars every few years then of course it's not worth getting the extended warranty, pretty common sense. Haha I should have mentioned it's only worth it if you plan on keeping the car for a long long time., it just makes more sense to me that way.
 
I got the warranty for my wife's Mazda 3 hatchback back in 2014. I got it because it was my wife's car and her name was on it and I did not want my wife break my balls later on. I did not want to give up to the finance guy and I was on my feet but the "wife" won.
For my other new car (different brand) last year when I went to the dealer to look for prices and I asked for m/t instead of CVT, he suggested to get a CVT and buy the extended warranty. I said: whthf..., you are suggesting me buy a warranty for a product that you do not feel confident it will perform!!!!
I ran from that dealer and I went to another one that not even bother to offered since I was buying a base model m/t with nothing on it.
For my daughter 17' CX 5 sport AWD last month the guy offered and I was willing to buy it for her peace of mind, but because he did not move down a penny I did not buy it.
Follow your guts, that is the best advise that I can give. Everybody knows his/her own limits and peace of mind.
 
Just remember when you buy any warranty or insurance you're dealing with an entity who business interest is to take your money and provide no services. They have a deep understanding of the product and know which issues most commonly come up that cost them money. They write exclusions for it in the contract in ways that are difficult for you to discover. They'll have a claims dept whose job it is to convince you that you don't have a valid claim, or deny it. They'll make you jump through hoops if you have a valid claim hoping you'll give up.

Not every company does all these things, but they wouldn't sell you the policy/warranty if the price you pay wasn't far more than what they expect to pay out to the average customer in claims after taking into account all their expenses (staff, office space, taxes etc.) and expected profit margin.
 
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