Dealer extended warranty. Worth it?

C

ChristyH

I bought a used 2020 Mazda CX-5 Grand Touring. I also purchased the 10yr/100 mile warranty (VSC Elite Exclusionary Dealer General Warranty) & also the tire & wheel protection. I didn’t really want it but I keep my cars til the wheels fall off so maybe it is worth it. I’ve heard so many bad things about extended warranty’s. The dealer gave me 5 days to come back and gave the warranty removed but in reading the warrant my it looks like I have 60 days to cancel. The dealer said he could only sell it at the time of car purchase.

I really planned on canceling it so I didn’t think about negotiating the price of the warranty down.

I paid $19K for the car
$3,200 for the warranty & $1,800 for the tire & wheel warranty.

Thoughts if I should keep or cancel the warranty?

Please advise. I’m so conflicted

* It has the premium package - ventilated seats, power folding mirrors, back heated seats, HUD … so more that can go wrong with it
 
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That warranty price is flat out robbery. My dealer quoted me $1400, which I declined. The first price they threw at me was like $2500, but when I said no, they dropped to $1400.

That tire warranty is even more egregious. What exactly is the warranty covering? Tires have a manufacturer warranty already. If you get a flat, it’s $25 to get fixed at a tire shop.

You should run very fast from those warranties. The cx5 is very reliable. We’ve had no issues with our 18 and 19 cx5s.
 
OMG that dealer is a straight out crook and liar. Cancel those immediately. Don't know the miles but you have a standard Mazda 5 year 60k mile powertrain warranty from original in service date, regardless if you purchased it used or new. If you want an actual OEM Mazda extended service contract for much much less then I can recommend a dealer who I bought mine from for cheap. You are a female yes? They clearly took advantage of you in the situation. Its disgusting
 
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Cancel the tire warranty.
The other - First it is expensive for sure.
Second it depends if you really plan to drive a lot and if its 10years from when you bought the car and not from 2020.
 
$5k over the purchase price?!?!?!?!?!?!

THAT'S CRAZY!!!!!!!!!!!!!!!!!!!!!!!

Cancel the whole thing ASAP.

Care to name this stealership?

You could take the $5k and put it into an interest-bearing account and use that incase the car needs repair. You keep all the money if you never need it. Unlike the other way around.
 
Get your money back now within 5 days. Don't try waiting until 60 days. There is a time period after purchase to get extended warranties (generally 30 days, may be 1 year on a new car) to get one if you want . It doesn't have to be right now. They get you at the time of purchase when you're more vulnerable and want to "protect" your new car. And the ripoff prices are negotiable.
 
Peace of mind is sometimes worth the cost of the extended warranty. In this case, they are simply taking advantage of your concerns with owning a modern vehicle with lots of new features and functions. A 10 year warranty sounds nice, but it's only as good as the company selling it and the terms and conditions laid out by them. Cancel the wheel and tire protection for sure. Take a good look at the extended warranty to see exactly what it covers - ideally it would cover the powertrain as well as the factory warranty would. If you still want the extended warranty, negotiate the price on it, hard. They can probably go down to $1600, warranties are all profit for the dealer.
 
As everyone said.

First: Cancel the tire and wheels warranty. That one makes no sense at all for the price. Like other said, tires and wheels are not that expensive.

The second warranty. Be very careful with warranty that are not from Mazda. They have a tendency to be very hard to get them to pay. Read the fine prints.
-Some also have a deductible and a maximum $ amount covered. (For example, What good is a 3400$ warranty if it only cover repairs up to 5000$?)

-The cylinder head cracking issue is the only thing that i would get a warranty for on the CX-5. Check if that is covered. If it is then maybe try to negotiate it. Any other problems will be cheaper than 3400$ to replace.
 
There is no such thing as an "extended warranty". What you bought is simply a pre-paid service contract that you'll probably never use. Take the $5,000, put it in a mutual fund, and if you ever need to have a major repair (chances are slim), then withdraw the money and pay for it.
 
RL911 said:
That warranty price is flat out robbery. My dealer quoted me $1400, which I declined. The first price they threw at me was like $2500, but when I said no, they dropped to $1400.

That tire warranty is even more egregious. What exactly is the warranty covering? Tires have a manufacturer warranty already. If you get a flat, it’s $25 to get fixed at a tire shop.

You should run very fast from those warranties. The cx5 is very reliable. We’ve had no issues with our 18 and 19 cx5s.
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It’s all BS 😂 I’m cancelling it

Tchman2016 said:
OMG that dealer is a straight out crook and liar. Cancel those immediately. Don't know the miles but you have a standard Mazda 5 year 60k mile powertrain warranty from original in service date, regardless if you purchased it used or new. If you want an actual OEM Mazda extended service contract for much much less then I can recommend a dealer who I bought mine from for cheap. You are a female yes? They clearly took advantage of you in the situation. Its disgusting
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Yea I agree I am going to cancel. The only reason I agreed was because O knew it can be cancelled. Please share the dealer in case I want to purchase from them.

Wire4money said:
You can buy a lot of tires for $1800.
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Exactly

cz5gt said:
Cancel the tire warranty.
The other - First it is expensive for sure.
Second it depends if you really plan to drive a lot and if its 10years from when you bought the car and not from 2020.
Click to expand...
It’s 10 years from time of purchase (good til 2034) or 100K additional miles. I don’t drive much, definitely less than 10K miles/year

Conrad 16.5 said:
$5k over the purchase price?!?!?!?!?!?!

THAT'S CRAZY!!!!!!!!!!!!!!!!!!!!!!!

Cancel the whole thing ASAP.

Care to name this stealership?

You could take the $5k and put it into an interest-bearing account and use that incase the car needs repair. You keep all the money if you never need it. Unlike the other way around.
Click to expand...
I agree especially since the car was 20K

ChristyH said:
I agree especially since the car was 20K
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The car price was 20K. Extended warranty on car $3,200. Tire & wheel protection $1,800.
 
ChristyH said:
I bought a used 2020 Mazda CX-5 Grand Touring. I also purchased the 10yr/100 mile warranty (VSC Elite Exclusionary Dealer General Warranty) & also the tire & wheel protection. I didn’t really want it but I keep my cars til the wheels fall off so maybe it is worth it. I’ve heard so many bad things about extended warranty’s. The dealer gave me 5 days to come back and gave the warranty removed but in reading the warrant my it looks like I have 60 days to cancel. The dealer said he could only sell it at the time of car purchase.

I really planned on canceling it so I didn’t think about negotiating the price of the warranty down.

I paid $19K for the car
$3,200 for the warranty & $1,800 for the tire & wheel warranty.

Thoughts if I should keep or cancel the warranty?

Please advise. I’m so conflicted

* It has the premium package - ventilated seats, power folding mirrors, back heated seats, HUD … so more that can go wrong with it
Click to expand...
How high was the mileage?
 
given its 10 years from today and 100k miles more ..may be its ok. As long as you dont sell the car in few years and this warranty covers most parts (check the document to see what it covers)
You are at 54k miles now which means the Mazda powertrain warranty ends in 60k (unless your car is CPO). Anything after the 60k related to the powertrain is on your dime. If you plan to keep the car long.. may be keep the warranty.
 
cz5gt said:
given its 10 years from today and 100k miles more ..may be its ok. As long as you dont sell the car in few years and this warranty covers most parts (check the document to see what it covers)
You are at 54k miles now which means the Mazda powertrain warranty ends in 60k (unless your car is CPO). Anything after the 60k related to the powertrain is on your dime. If you plan to keep the car long.. may be keep the warranty.
Click to expand...
There is no way in the world it is an additional 10 years and 100k miles. Those types of warranties don't exist.
 
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