Two year extended warranty worth it?

Purchasing a 2020 cx-5 gt tomorrow, they are offering to extend the 3 year, 36k warranty to 5 years, 60k for $600.

I've never purchased an extended warranty but wondering if this is worth it?

Best,
 
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Mazda CX-9 Grand Touring 2016
Probably not. These are priced to cover the "finance manager's" commission, the dealership markup, profit for the underwriter, and finally the cost of repairs. Think if these extended contracts as peace-of-mind insurance. If you'll sleep better, buy it. I'd rather put some repair money aside each month.

If you buy this, buy only the contract sold from the car maker. The dealer may offer you some 3rd party contract, but if they go bust, you've got nothing. Shop around. Check both local dealerships and on line. There is no advantage in buying tomorrow. Look at the Mazda web site for details of what's covered: https://www.mazdafinancialservices.com/us/en/vehicle-protection/vehicle-service-agreements.html
Note that Mazda calls this product their Vehicle Service Agreement. They don't call it an extended warranty, because under federal law it isn't a warranty. It DOES NOT EXTEND THE FACTORY WARRANTY. You already have 5/60 for the drivetrain. What will this extra $600 cost cover?

Keep in mind that one of the highest compensated employees at the dealership is the so-called finance manager. They're paid commission only. They make a lot of money for the dealership owner and for themselves by all the overpriced, generally unneeded products they sell us. If you want the extended Vehicle Service Agreement, buy where you find it cheapest. Everything else offered in addition to the car itself can be found both better and cheaper elsewhere.
 

yrwei52

2016 Mazda CX-5 GT AWD w/Tech Pkg
Contributor
:
Plano, Texas, USA
Purchasing a 2020 cx-5 gt tomorrow, they are offering to extend the 3 year, 36k warranty to 5 years, 60k for $600.

I've never purchased an extended warranty but wondering if this is worth it?

best,
Definitely not. You have Mazda powertrain warranty coming with your new CX-5 for 5 years or 60,000 miles.
 
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Phoenix
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2020 CX5 signature
Purchasing a 2020 cx-5 gt tomorrow, they are offering to extend the 3 year, 36k warranty to 5 years, 60k for $600.
If $600 covers another 2 years, I'm looking to spend about $1,200 or less for an additional 4 years. As PTgy said, It's about personal peace of mind. Of course it doesn't make financial sense or they wouldn't sell them, but I'd like coverage on the electronics and electrical for 4 more years. How many of you pay $200 (factoring in deductible) to cover an $800 phone - yikes, that's 20%. So I won't poo poo anyone who chooses to warranty a $30,000 car for a grand.

Is it the Mazda Protection Product plan? I'm looking around and shopping dealers. What's your dealers name
 
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Don't forget to post details of the various offers :)

Why don't you check all local dealers? Sometimes it makes a difference if you get it from the dealer where you plan to service the car.
 
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2017 CX-5 GS AWD
If $600 covers another 2 years, I'm looking to spend about $1,200 or less for an additional 4 years. As PTgy said, It's about personal peace of mind. Of course it doesn't make financial sense or they wouldn't sell them, but I'd like coverage on the electronics and electrical for 4 more years. How many of you pay $200 (factoring in deductible) to cover an $800 phone - yikes, that's 20%. So I won't poo poo anyone who chooses to warranty a $30,000 car for a grand.

Is it the Mazda Protection Product plan? I'm looking around and shopping dealers. What's your dealers name

Correction : $200 is 25% of $800. Not 20%.
 
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2018 AWD GT Premium Red/Black
If $600 covers another 2 years, I'm looking to spend about $1,200 or less for an additional 4 years. As PTgy said, It's about personal peace of mind. Of course it doesn't make financial sense or they wouldn't sell them, but I'd like coverage on the electronics and electrical for 4 more years. How many of you pay $200 (factoring in deductible) to cover an $800 phone - yikes, that's 20%. So I won't poo poo anyone who chooses to warranty a $30,000 car for a grand.

Is it the Mazda Protection Product plan? I'm looking around and shopping dealers. What's your dealers name
For me, extended warranty would diminish my peace of mind. With one, not only do I have to worry about some sort of malfunction or loss, now I have to worry about whether they'll actually cover it, what hoops I'll have to jump through, how angry and ripped off I'll feel or disappointed in not standing up for myself when they try to get out of paying, and whether I've wasted money.

I'd take that $600 and pay myself the commission.
 
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2017 Mazda CX-5 GT, 2016 Mazda6 iGT, 2014 Mazda3 sGT hatchback
Murky,
The worry you mention usually comes from 3rd party ext warranty. I dealt with them before. A pain in the neck. Factory ext warranty is much easier to deal with. Dealers typically take care of everything.

To OP,
Ext warranty is a personally financial decision.
If you have enough financial readiness to shell out thousands for unexpected spending, you don't need the ext warranty. Chances are, you will win at the end.

If you really want it, ask for MSRP. And negotiate the price from 50%.
 
Putting aside all the debate about value, has anyone gotten any recent firm quotes. Please include name of dealer if possible, thanks
 

The ManLaw

The Manlaw of Want
:
15cx5 soon 20cx9
I got the 7yr 125k agreement with my cx9. I traded in a 15 cx5 with 124k miles and if I had gotten the same agreement I would have still had the cx5, just with a properly working transmission that costs ish $5k. I am paying about $3700 for it. But to be honest, the shear number of things it covers is worth it to me. A lot of do it myself repairs would have been covered on my cx5. If I dont use it, fine. But with the way I drive, yeah, $3700 is worth the peace of mind.

Edit: colonial mazda of danbury, ct
 
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Phoenix
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2020 CX5 signature
Putting aside all the debate about value, has anyone gotten any recent firm quotes. Please include name of dealer if possible, thanks
I'm still looking for the same thing. The "Mazda: plan is now under the Mazda Protection Product along with finance which is not owned/administered by Toyota Financial. I'm pretty sure I saw a thread where someone got the Mazda plan for less than $1,600 for 7 yrs I think.

Also, still looking for specific dealer/price as most I have called sell a 3rd party option
 
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yeah, i dont know what happened when toyota took over the financial side but I am too having hard time searching for the "new" mazda plan.
I think most of the threads are with information from few years ago.
 
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Phoenix
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2020 CX5 signature
It's interesting that you can still find links to the Mazda Extended Confidence plan, but I don't think that exists.
 

The ManLaw

The Manlaw of Want
:
15cx5 soon 20cx9
I'm still looking for the same thing. The "Mazda: plan is now under the Mazda Protection Product along with finance which is not owned/administered by Toyota Financial. I'm pretty sure I saw a thread where someone got the Mazda plan for less than $1,600 for 7 yrs I think.

Also, still looking for specific dealer/price as most I have called sell a 3rd party option
There are different levels of coverage, I took the platinum level because it does cover the most. There were other options for less of a price but at that point I would have just found a certified pre-owned and gotten the longer power train warranty offered on those. The VSA I got covers the electrical components and I see those as being the real issue in the long run with our cars
 
Does it cover the led headlamps specifically? do you know?
I am curious because the publicl pdf on platinim vsa is not very clear. may be in your contract doc its outlined with more details.
 

The ManLaw

The Manlaw of Want
:
15cx5 soon 20cx9
The public one shows it does not cover the headlamps. The bulbs are wear items so they wouldn't cover it either way.
 
Purchasing a 2020 cx-5 gt tomorrow, they are offering to extend the 3 year, 36k warranty to 5 years, 60k for $600.
I've never purchased an extended warranty but wondering if this is worth it?
The answer is very clear and obvious...
This extended warranty is absolutely NOT worth it.
You're spending $600 to get 2 measly years of non-powertrain coverage.

Do yourself a favor, put that $600 into a CD or money market account.
In the unlikely event you have an issue in years 4-5, you can pay for it with this money.
 
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2018 AWD GT Premium Red/Black
The answer is very clear and obvious...
This extended warranty is absolutely NOT worth it.
You're spending $600 to get 2 measly years of non-powertrain coverage.

Do yourself a favor, put that $600 into a CD or money market account.
In the unlikely event you have an issue in years 4-5, you can pay for it with this money.
Agreed, assuming you even still have the car. If something happens to it, or you get rid of it for whatever reason, you get to start over.
 
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