Dealer called and offered extended warranty - worth it?

Dealer called and offered extended warranty 120,000 miles or 96 months for $1795. Wondering if its worth it? Said it'll cover bumper to bumper, same as new vehicle warranty except wont cover batteries, wipers, bulbs, tires, brakes and few other things like interior upholstery, etc. Not sure if I should go for it or let it pass? I have the new vehicle 36 months, power-train - 60 months, I believe there's this PZEV for 15 yrs since I am in NJ. So - not sure.

For comparison. I purchased the Mazda extended warranty 9 years, 75K miles for $1220 (was told dealer cost was $1020).

I don't drive much so length of warranty is more important to me than number of miles.

If you can find the MSRP of that warranty and discount it by 2/3, that'd be around the dealer cost, then you could go from there in negotiations.

Is ANY "insurance" worth it? Life insurance, health insurance, warranties on purchased items; like life itself, you pays your $ and you takes your chances. It's all about "peace of mind", and no one but YOU can decide if the cost of said peace of mind is "worth it"...

FWIW, I bought it for about the same $. In this crazy world we live in, I figgered it for one LESS thing to worry about - YMMV...

TheGanzman said:

FWIW, I bought it for about the same $. In this crazy world we live in, I figgered it for one LESS thing to worry about - YMMV...

Click to expand...

I don't know, I think I get more peace of mind from having the $1795.00 in an account with my name on it vs. a piece of paper claiming they will pay for repairs (assuming any repairs are even needed)..

MikeM. said:

I don't know, I think I get more peace of mind from having the $1795.00 in an account with my name on it vs. a piece of paper claiming they will pay for repairs (assuming any repairs are even needed)..

Click to expand...

Yep - and you'll STAY that way, unless or until a catastrophic $-repair comes up to bite you on the azz; then maybe you'll be KICKING yourself in said azz for NOT spending the $ on that piece o' paper...

2 1/2 years ago, my wife bought a certified 2009 MB AMG SL63. They gave her full retail on her trade-in (an Acura ZDX, which have since TANKED in used value since they're no longer made) and a 1 year bumper-to-bumper warranty. We spent three hours at the Stealership waiting for them to acquiesce to my demand for a TWO year b-2-b warranty, which they finally did. 9 months ago the car had a catastrophic fuel system failure (due to some bad fuel) that trashed 4 injectors and fuel runners, the intake manifold, and required the fuel tank to be removed, flushed, and replaced - repair cost WOULD have been close to US$7K. Don't you KNOW that we were patting ourselves on the back for not relenting on that extra year's worth of warranty...

TheGanzman said:

Yep - and you'll STAY that way, unless or until a catastrophic $-repair comes up to bite you on the azz; then maybe you'll be KICKING yourself in said azz for NOT spending the $ on that piece o' paper...

2 1/2 years ago, my wife bought a certified 2009 MB AMG SL63. They gave her full retail on her trade-in (an Acura ZDX, which have since TANKED in used value since they're no longer made) and a 1 year bumper-to-bumper warranty. We spent three hours at the Stealership waiting for them to acquiesce to my demand for a TWO year b-2-b warranty, which they finally did. 9 months ago the car had a catastrophic fuel system failure (due to some bad fuel) that trashed 4 injectors and fuel runners, the intake manifold, and required the fuel tank to be removed, flushed, and replaced - repair cost WOULD have been close to US$7K. Don't you KNOW that we were patting ourselves on the back for not relenting on that extra year's worth of warranty...

Click to expand...

And this is why I laugh when I see people who buy a used luxury car that has depreciated enough to make it the same price as an average car... they don't realize that the maintenance cost didn't deprecate LOL. Not saying this is you but it's definetly something people don't consider when they buy a 5 year old BMW/MB for $30000 on the lot instead of the $30000 new mazda/Toyota/kia w/e that they were looking at.

That's the price of owning a very expensive car -- even if you got it as a discount that equated it to a lower class of car. We are talking about a Mazda here; not an AMG MB; a hand built engine at that... $1795 can get you a replacement engine and some for our car.
I can buy one of those (2009) for about what I paid for my car (not including extra money I've put into it)... I mean, what type of maintenance did you expect to pay yet alone a catastrophic failure on a car with a $132000 BASE price over a Mazda that tops out at ~$32000 (1/4th the price)?

MikeM. said:

I don't know, I think I get more peace of mind from having the $1795.00 in an account with my name on it vs. a piece of paper claiming they will pay for repairs (assuming any repairs are even needed)..

Click to expand...

And at least 70% will be labour..

TheGanzman said:

Yep - and you'll STAY that way, unless or until a catastrophic $-repair comes up to bite you on the azz; then maybe you'll be KICKING yourself in said azz for NOT spending the $ on that piece o' paper...

2 1/2 years ago, my wife bought a certified 2009 MB AMG SL63....

Click to expand...

A couple of points:

1) We're not talking about a 2009 MB AMG SL63 we're talking about a Mazda CX-5, big difference...there is a reason you can buy a decent looking used MB AMG SL63 for a fraction of it's cost new.
2) You didn't pay out of pocket for your extended warranty, you negotiated it as part of the purchase/sale agreement. Otherwise, you might be surprised how much a reputable, third party warranty would cost on such a car.