Extended Warranty

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CX5 GT-R
The Mazda extended warranty doesn*t give you a extra 7 years. The 7 years is from the date you purchased the car at. So in saying that you would get 4 years extra comprehensive and a extra 2 years power train.
Ask me how I know ;).
Working in the field for the past 11 years I would never buy extended warranty.

Conversely, I have 10 years and 150K miles of near bumper to bumper coverage. Yes, it cost $2400, but it is also going to "be there for me".
 

PaulZooms

16.5 GT Sensing
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Lakewood, CO
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2016.5 CX-5 GT
Since it is transferable and good at any dealer in the country, the factory one might be a good deal if you could really get half off. Do you mind saying what you paid for it and how long the coverage is?

I got 9 year, 100k miles, $0 deductible (at any Mazda dealer) for $1,920. That added up to 6 years and 64k miles to the factory coverage. The finance guy started out at $3,200 IIRC. He matched the best online quote I could get at the time.
 
I got 9 year, 100k miles, $0 deductible (at any Mazda dealer) for $1,920. That added up to 6 years and 64k miles to the factory coverage. The finance guy started out at $3,200 IIRC. He matched the best online quote I could get at the time.

I got 8 year 100k $0 deductable for $1695. Pretty similar.
 
Uno

Based on another thread, you indicated you drive 30-40,000 miles per. I understand your reason for an Extended Warranty as your Mazda Bumper to Bumper will last less than 1 year. I too would want an Extended Warranty with that mileage.
 
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CX5 GT-R
Based on another thread, you indicated you drive 30-40,000 miles per. I understand your reason for an Extended Warranty as your Mazda Bumper to Bumper will last less than 1 year. I too would want an Extended Warranty with that mileage.

Yeah, I'm at 21k right now. Took possession of the car around March 1.
 

bluegrass

Banned
:
SUV
Yeah, I'm at 21k right now. Took possession of the car around March 1.

I don't understand why you would spend $2400 on an extended warranty, given how much you drive. You are on pace for 36K miles/year.

This means the extended warranty will provide just 2.5 years worth of powertrain coverage and 3 years worth of bumper-2-bumper coverage.
That is a very small, narrow window of coverage.

Since you financed that extended warranty, it will end up costing you ~ $3000 with interest.
You would have been far better off putting $3000 into a CD or money market account, and using that to pay for any potential future repairs.

The best part of my plan is the $3000 doesn't get thrown in the trash after that 3 years like the extended warranty.
It will be available for as long as you own the car, not just for a tiny 3 year window of coverage.
 
:
2019 CX-5 GT
I don't understand why you would spend $2400 on an extended warranty, given how much you drive. You are on pace for 36K miles/year.

This means the extended warranty will provide just 2.5 years worth of powertrain coverage and 3 years worth of bumper-2-bumper coverage.
That is a very small, narrow window of coverage.

Since you financed that extended warranty, it will end up costing you ~ $3000 with interest.
You would have been far better off putting $3000 into a CD or money market account, and using that to pay for any potential future repairs.

The best part of my plan is the $3000 doesn't get thrown in the trash after that 3 years like the extended warranty.
It will be available for as long as you own the car, not just for a tiny 3 year window of coverage.

I concur with your idea. Makes no sense to spend thousands of dollars on something which has no guarantee of being used. These companies wouldn't exist if they were paying out more than they take in. It is a profit making business they are in.
 
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2019 CX-5 Signature
I purchased the 100k/9 year total confidence extended warranty with a $0 deductible at purchase. Dealer sold it to me for $1750 + tax.

I*ve always passed on these, but, given the amount of electronics and the fact it saved my wife*s cx-9 twice (which paid for itself), I felt it was good insurance to have. It includes 24/7 roadside, rentals, etc.

I typically drive less than 10,000 miles per year.

Agreed, it*s not for everyone, but I*m happy I have it.
 
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2019 CX5 Reserve AWD
I purchased the 100k/9 year total confidence extended warranty with a $0 deductible at purchase. Dealer sold it to me for $1750 + tax.

I*ve always passed on these, but, given the amount of electronics and the fact it saved my wife*s cx-9 twice (which paid for itself), I felt it was good insurance to have. It includes 24/7 roadside, rentals, etc.

I typically drive less than 10,000 miles per year.

Agreed, it*s not for everyone, but I*m happy I have it.

Who underwrites it?
 

Avoidin Deer

Zoom Zoom, baby
Contributor
:
Central Virginia
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2019 CX-5 Reserve
I concur with your idea. Makes no sense to spend thousands of dollars on something which has no guarantee of being used. These companies wouldn't exist if they were paying out more than they take in. It is a profit making business they are in.

Sure, but you just described all insurance.
 

bluegrass

Banned
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SUV
Sure, but you just described all insurance.

Insurance is designed to protect you against catastrophic financial losses, not for every little expense that might happen in life.

I hold auto insurance because one accident could cost hundreds of thousands of dollars and bankrupt me.

I do NOT spend $2400 (plus interest) on an extended warranty to protect me from the potential of a minor car repair.
If you can't afford such a repair, you have no business buying a $30K+ vehicle.
 

ColoradoDriver

Gen-1 Kodo Design
Contributor
:
Denver, CO
:
2014 CX-5 Touring
Insurance is designed to protect you against catastrophic financial losses, not for every little expense that might happen in life.

I hold auto insurance because one accident could cost hundreds of thousands of dollars and bankrupt me.

I do NOT spend $2400 (plus interest) on an extended warranty to protect me from the potential of a minor car repair.
If you can't afford such a repair, you have no business buying a $30K+ vehicle.

I concur. Repair even up to a few hundred dollars should be expected with car ownership and part of owning a car is the research and shopping into models that have the least likelihood to have catastrophic failures (transmissions, engines, etc.).

6 1/2 years of ownership so far, not counting tires, and other maintenance items, I've spent maybe $500 on actual repair?