Extended warranty: yay or nay?

MazdaGyal

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Protg/ '17 CX5 Touring
I think I know the answer to this question but did you guys get the extended warranty from the dealership?

Thanks!
 
I did and thinking about canceling it which you can do for 60 days for a full refund. The reason I said yes is I got the grand touring with the premium package and with all that new technology I figure something has to go wrong in 10 years.
 
We didn't, simply on account of how sleazy the 'finance guy' was. Also he wouldn't let us sleep on it, even for one night. To me that's an instant no.
 
Depends on the price really. If less than 1K consider it when you keep car for 7-10 years.

More than 1K for this, NAY for sure.
 
Funny, this is the one thing that irritated me the most about the purchase. Originally the extended warranty was $2,500. Then $1,500. Finally went down to $1,000 and I still didn't go for it. Told them I'd pay $500 but they didn't accept.

Sleasy is the word for finance. My last 2 vehicles were luxury cars and I could tell a stark difference between those last two purchases. At least Mazda didn't have a blow up gorilla out front.

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Thanks evreryone! Price is definitely not, more like $1700. And for 75k miles/7years which runs concurrently with the existing standard warranty.
 
Funny, this is the one thing that irritated me the most about the purchase. Originally the extended warranty was $2,500. Then $1,500. Finally went down to $1,000 and I still didn't go for it. Told them I'd pay $500 but they didn't accept.

Sleasy is the word for finance. My last 2 vehicles were luxury cars and I could tell a stark difference between those last two purchases. At least Mazda didn't have a blow up gorilla out front.

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There may or may not be an ancient Chinese proverb about inflatable gorillas LOL.
 
One way to look at it is: "I just bought a brand new car. It's a piece of crap. I need additional warranty coverage." NOT. Plus, the regular and extended warranties overlap - what's the point of that? Skip the extended warranty, sock away a little cash each month into a repair fund for post-warranty work/parts.
 
One way to look at it is: "I just bought a brand new car. It's a piece of crap. I need additional warranty coverage." NOT. Plus, the regular and extended warranties overlap - what's the point of that? Skip the extended warranty, sock away a little cash each month into a repair fund for post-warranty work/parts.

The extended warranty picks up where the regular warranty expires. No duplication.

I got 100k/9yr/$0 deductible for $1,940 on my 16.5 GT with Tech & Sensing IIRC. $0 deductible avoids diagnostic charges on top of repair deductibles. (A common practice I'm told)

Got extended warranties on 2 other cars. Broke even on 08 RAV4, ahead 3:1 on 07 VW Eos. Cheap piece of mind IMHO.
 
A long time ago I sold extended warranties. It's different today but there was a lot, a really lot, of profit in them. They say it's less today.

Anyways, the way you have to think about it is.

Likelihood of problems * cost to repair problems = cost of warranty

The problem is that you can't know any of these variables, all you get is a price and a load of bulls*** about "peace of mind". You don't know how often the car breaks, how much it will cost to fix every kind of break s you can't know the cost of the warranty.

But you can be certain of exactly one thing, if the warranty costs $1,000, the expected cost of repairs to the issuer of the warranty is expected to be less than $1,000. That doesn't mean you won't get a lemon, you might, but it also means 4 perfect cars will offset your lemon, or some variation of that calculation. And just by the fact that the dealer makes a commission on the sale means it's not a dollar for dollar transaction, so, already you've tossed good money after bad.

This is the offer I make to people thinking about buying a warranty, give me $100, I'll give you $50 back, right now, and it's almost a guaranteed better deal than any warranty you can buy.
 
There are two kinds of people in this world...those that ALWAYS buy the warranty (on almost everything they purchase) and those that NEVER do. I am the latter...and I figure I’ve saved enough over the last 34 years (my driving life) to more than offset repairs...no matter how much they cost.
 
I think I know the answer to this question but did you guys get the extended warranty from the dealership?

Thanks!

If you are going to keep going to them over the entire length of the warranty then perhaps.

For me personally, the answer is no.

The standard Mazda warranty here is 3 years. So we can take it to any Mazda dealer for a service. After this period is up, we have a choice of either

  • Keep using a Mazda dealer service centre
  • Taking it to an independent service centre/mechanic

Now if we get locked into an extender warranty with a dealership and they don't do a good job, we are basically tied into them because of the $$$ paid for the extended dealership warranty.
 
Had it initially, then got it cancelled.
A lot of stuff I care about was not covered by the extended warranty (bit of irony on "extended" if you ask me) but I guess that's how the industry works.
 
Had it initially, then got it cancelled.
A lot of stuff I care about was not covered by the extended warranty (bit of irony on "extended" if you ask me) but I guess that's how the industry works.

If it was factory extended warranty then it would have been
 
If you are going to keep going to them over the entire length of the warranty then perhaps.

For me personally, the answer is no.

The standard Mazda warranty here is 3 years. So we can take it to any Mazda dealer for a service. After this period is up, we have a choice of either

  • Keep using a Mazda dealer service centre
  • Taking it to an independent service centre/mechanic

Now if we get locked into an extender warranty with a dealership and they don't do a good job, we are basically tied into them because of the $$$ paid for the extended dealership warranty.

If you buy a genuine Mazda warranty, it is good at any Mazda dealership. (NEVER buy 3rd party!) Prolly not independent shops though, unless you're broken down in the boondocks. You're not stuck with dealer you bought from unless there are no others nearby.
 
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If you buy a genuine Mazda warranty, it is good at any Mazda dealership. (NEVER buy 3rd party!) Prolly not independent shops though , unless you're broken down in the boondocks. You're not stuck with dealer you bought from unless there are no others nearby.

Exactly.

If a Mazda dealer offers their own extended warranty, it is not from Mazda HQ themselves and usually involves a third party.
 
If you buy a genuine Mazda warranty, it is good at any Mazda dealership. (NEVER buy 3rd party!) Prolly not independent shops though, unless you're broken down in the boondocks. You're not stuck with dealer you bought from unless there are no others nearby.

3rd party is good anywhere.
 
If you buy a genuine Mazda warranty, it is good at any Mazda dealership. (NEVER buy 3rd party!) Prolly not independent shops though, unless you're broken down in the boondocks. You're not stuck with dealer you bought from unless there are no others nearby.

What if they offered you lifetime coverage, bumper to bumper, at any dealer for $100? Don't buy it because it's not from Mazda? You should jump at that right? Of course maybe your car only generates $50 of repair costs for that $100 so it's still a bad value.

I should leave this thread. I get really frustrated at how people think about these things.
 
For 1700 i say nfw op nfw..almost 70k and definitely don't have anywhere near that into it including maintenance and wear items..just did front brakes..rears were covered on sticky caliper tsb..not that the extended even thinks about covering wear items but even if it did I'm skeptical on this pretty rock solid vehicle.
 
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3rd party is good anywhere.

Good for nothing in many cases. Akin to "managed care" - it's a miracle if you manage to get any care. Most have so many exclusions and limits they are nearly worthless. Many of the companies go out of business and leave you with nothing.
 
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