PaulZooms
16.5 GT Sensing
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- Lakewood, CO
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- 2016.5 CX-5 GT
Amen to that. I tried to stay out, but just couldn't help myself.
Extended warranty: yay or nay?
- Thread starter MazdaGyal
- Start date
Amen to that. I tried to stay out, but just couldn't help myself.
I probably shouldn't comment either, but I never, and I mean, never, buy extended warranty's, maintenance contracts, etc., on anything I have.
No furnace maintenance contract, appliance contracts, electronics (TV, computer, etc) contracts, and certainly no auto extended warranty contracts.
I can't begin to add up the savings I've achieved over the past 40 years by avoiding this scam.
If on the odd chance something breaks, which is almost never, I either fix it, or if it's past it's useful life, I replace it.
NelsonLewis
Banned
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- 16.5 CX-5 GT AWD w/Tech BRMica
Amen.
That sort of stuff doesn't happen here. If the third party warranty supplier goes bankrupt, then it's pretty much worthless. No such chance of a factory extended warranty going this way.
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I usually don't buy warranties but I did on the last two vehicle purchases.
2005 Honda Odyssey: I spent $1250 on a warranty. I ended up having 2 axles, a starter and one other thing (can't remember) replaced under warranty. I saved around $500-$600. Of course, had I not had the warranty then I would have fixed it myself and would have only spent $750 in parts. Sometimes cheaper isn't better.
2017 cx-5: 3rd party warranty. 7 year 100k. $1500. I bought the warranty knowing I could cancel it as I think about it. I plan on keeping this car for a very long time (most warranty companies bank on people selling/trading). I have replaced things like a/c compressors on vehicles with less than 100k (2001 Yukon with 95k)....so anything can happen. Honestly, $1500 is a big deal but not if it is for a plan that takes 7-10 years to unfold.
2005 Honda Odyssey: I spent $1250 on a warranty. I ended up having 2 axles, a starter and one other thing (can't remember) replaced under warranty. I saved around $500-$600. Of course, had I not had the warranty then I would have fixed it myself and would have only spent $750 in parts. Sometimes cheaper isn't better.
2017 cx-5: 3rd party warranty. 7 year 100k. $1500. I bought the warranty knowing I could cancel it as I think about it. I plan on keeping this car for a very long time (most warranty companies bank on people selling/trading). I have replaced things like a/c compressors on vehicles with less than 100k (2001 Yukon with 95k)....so anything can happen. Honestly, $1500 is a big deal but not if it is for a plan that takes 7-10 years to unfold.
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- RDX Aspec Adv.
I got mine through my credit union, read the fine print, etc. and it appears very solid. My credit union will owe me a refund, legally, if it is not what I purchased as such. That said, if I ever use it, I will gladly post back. I hope to never use it, but...
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- RDX Aspec Adv.
EXACTLY what I did, and why.
It is a used Range Rover though... 
Got a Mazda bumper to bumper, 6 year/100k miles, $100 deductible for $1300, not covering maintenance items, on my '16. Finance guy claimed it was dealer cost, so at $1700 you have some wiggle room. My 2014 CX5 was on its second transmission at 70k when it started to act up. I see a few people with the "put away your $1000 in an account and use it for repairs later, draw on it later" idea. A new trans from Mazda would you cost you five grand just in parts, not to mention labor putting it in, maybe pick one up at a junkyard for a few thousand. And forget independent shops. Quite a few wouldn't even touch one that was on this forum who had a transmission noise develop at 80k miles, most told the guy to go back to Mazda. I'll spend a little extra and when/if a problem arises I'll bring it to the dealer and say "fix it", then drive home in the rental that the warranty also provides for me until they fix it. I used to be into troubleshooting/fixing/saving a few hundred bucks and patting myself on the back for a job well done. I worked at a dealer ions ago, had the training. Now I'd rather be spending time doing other things than spending hours tearing something apart and hoping what I did solves the problem. Just my opinion. Today's vehicles are complex electronic wonders with a gas engine attached.
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If you wanted a used RR I'd call it bargain you can't pass up..but its a new Mazda with good overall reliability and proven powertrain. Its all relative and anything can happen but odds are you'll come out ahead if not way ahead by just saying no to these profit padders.
Totally! It's either you're buying a reliable vehicle or you aren't. My protege was SUPER reliable all these years. That dealer who I didnt go with kept trying to convince me that something would go wrong with the tech. Like dude are you trying to sell me on the car or not?
SEOR MAZDA
Member
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- CX 5
It is very nice to see the different opinions in this subject.
I have to say that I agree with all of you, the ones who do not buy it and the ones who did.
Over the years I bought for some cars and appliances and I didn't for others, but now with too many electronics in the car I am more afraid of that failing than a mechanical part.
Thank you all for your responses. I will be shortly answering myself that question when I get a CX5 for my daughter.
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I have to say that I agree with all of you, the ones who do not buy it and the ones who did.
Over the years I bought for some cars and appliances and I didn't for others, but now with too many electronics in the car I am more afraid of that failing than a mechanical part.
Thank you all for your responses. I will be shortly answering myself that question when I get a CX5 for my daughter.
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I actually didn't buy an extended on my CX-5... I guess time will tell if I need it or not. On my Infiniti payout was nearly 4x what I paid for it. Definitely thinking of a possible extended warranty on my Lexus GX... I have to take that one in for a replacement water pump and valve cover gasket this Saturday... at only 38K miles. This latter stuff I have discovered is not uncommon on Toyota V8s. Fortunately this will be covered under factory warranty. Have fun with what you drive... they all seem to be a roll of the dice and can possibly have problems. Some have much better odds...but nothing is for certain either.
Protect Your Car With Mechanical Breakdown Insurance. Geico offers it on new cars only. I currently am paying $115 a year on a TDI. My previous cars have included this maintenance and it is worth it for me. I have an exceptional dealer - going to miss them but they don't have a car I'd prefer to the cx5.
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I just looked into this, and it is a big waste of money...
- Your new car comes with a 5yr/60K mile Mazda powertrain warranty, yet you must buy this Geico policy when the car is new. So your premiums for the first 5 years are wasted, and the only unique coverage you get is years 6-7.
- This coverage only applies to vehicles up to seven years old or 100,000 miles (whichever comes first). I've never had ANY repairs, on ANY vehicle, with fewer than 100K miles.
- In addition to your annual premium, you must pay a $250 deductible for each repair. "if you have multiple unrelated problems, you will have to pay a separate deductible for each problem."
- If your repair facility is unable to diagnose any mechanical failure with your vehicle, GEICO will not pay for any diagnostic fees.
NelsonLewis
Banned
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- 16.5 CX-5 GT AWD w/Tech BRMica
This is a waste of money as well. You think you've escaped the stealership, then the insurance company gets ahold of ya. Lol
NelsonLewis
Banned
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- 16.5 CX-5 GT AWD w/Tech BRMica
Yep!
