Is it worth buying the maintenance package ?

[back2grave]

Hi,

Just wondering if its worth buying the additional maintanence package from the dealership. I was offered a 96 months/100000 miles coverage @1695 with $100 deductable after the mazda 30k mile coverage. I've never been a fan of these packages, but just curious if anyone of you opted for it. Is it really worth spending that additional money ?

Any pointers will be appreciated.

-Thanks

 

[LexustoMazda]

It depends if you want to keep your car for a long time and if you are DIY guy. IMO, $1695 doesn't worth it for maintenance package up to 100000 miles. Basic oil change, change air filter, cabin air filter, etc doesn't worth $1695.

 

[table5511]

not worth it. a certificate of deposit will be a better investment.

 

[ceric]

Please clarify.
Is it a maintenance only coverage, or a extended warranty coverage?
The price seems like the latter, not the former.

If the former, definitely NO. All the maintenances needed won't add up to $1000.
If the latter, it is up to you.
It is risk planning. Every one sees it differently.

 

[back2grave]

ceric, its the former and not extended warranty, which kind of surprised me too. I eventually declined it.

 

[ceric]

If maintenance only, you have to ask what is included.
It surprises me because, usually maintenance package does not have "deductible".
You go by schedule. Theirs or Mazda's.

 

[master44]

Maybe I just have had bad luck, but I would opt for the 100K extended warranty if you forsee yourself having the car that long.

My CX-9 had something go out with the AWD around 30K miles and the repair was in the $3000 dollar range, luckly covered under warranty, now my bearings are going out at 60,000 miles and I don't have the coverage and am looking at nearly $1000. I love the car, but can easily see how things can add up.

On my other car a Nissan Maxima a throttle pedal sensor went out after warranty and that cost me $750, too much electronic stuff in the cars these days to chance it in my opinion.

 

[ceric]

Still, if you only experience ONE big problem that costs $1000, you will lose
money on the ext warranty since it usually costs more than $1500 for 7yr/100K.
You must have TWO big problems to "win". The chance of that is not that big.
I had numerous mid-small issues with my BMW, which had 7yr/100K (cost me $2450).
However, I just barely broke even since many issues were not fully covered (tear and wear, thay said).
You can say that maybe 10% customers save money with ext warranty, but 90% people lose.
It is a form of financial planning. How much risk are you willing to take? That is the question.