Extended TV Warranty - GM or Other?

[JandC]

quote:Originally posted by Tom S.

I've bought well over 20 new vehicles in my time and never bought an extended warranty on any of them. The results? If the average warranty had cost me $1600, that's a total of $32,000. During that same period of time, I have paid out of pocket expenses of less than $3000. That's a savings of over $29,000. Maybe I'm lucky, or more likely, maybe it's the fact I take care of my vehicles, including doing my own maintenance.

If you can't hold on to money, give it to a trusted friend or relative. In the long run, you will be far better off without the warranty. BTW: Consumers Reports agrees with me.

I also have purchased over 20 new vehicles during my lifetime, about half of them trucks. This was my first extended warranty. If you drive your sparkling new PU to the office every day or haul 3 bags of mulch in it once a year like most Americans that purchase PU trucks, then no you don't need an extended warranty. If you put 15,000 plus miles on your HD pickup, 8,000 to 10,000 of which is pulling around a 17,000 pounds 5th wheel, and plan on keeping that truck, then your gamble on an extended warranty may pay off. It is a personal choice.

I am one of the fortunate folks that didn't have to make 3 or 4 years worth of payments on my F350 when I purchased it. If my engine blew tomorrow I could write the check for the new one. The point is extended warranties are not just for some working stiff that has 3 kids still in college and can't really afford that new engine. It is a choice you make trying to manage your money. I am betting I get my monies worth or I wouldn't have spent the $2,000 on the ESP. If at 100,000 miles of pulling the guts out of this truck it has never needed any work then that is okay too, I know then I have an exceptional vehicle.

[richfaa]

I am not a working stiff with kids still in college but I still can't afford that new Diesel motor or the price of a large $$ failure. I can however come up with @ 56 $$ per month for the Ford ESP to pay for those large $$ failure should they occur. It is the best we can do. It is not 100% effective but a failure of that magnitude would take us off the road for good.

Same with the Rv extended warranty. The 06 Montana suffered 5 failed holding tanks, fire and meltdown in Quartzsite. Shackle failure and shifted axles. we had over 6K worth of work done under a extended warranty that cost us 1047.00 with 50 $$ deductible. We paid out 200.00 in deductible for a total cost of 1147.00. It worked for us. We have only used our Ford ESP one time for a repair that cost 850.00 and cost us 100.00 deductible. We may not get our money back on the ESP as many folks feel we should but that's life.

[mazboy]

extended warranties are a waste of money. consumers report agrees. if you are worried, put $2-3000 in the bank for unknown issues.

[dpam]

As the orignal poster of this subject I would like to thank everyone for their informative and valueable feedback about extended warranty. Because we have only 60,000 Kilometers (36K miles) on our truck and because we have another 2 yrs warranty on the powertrain components and diesel engine components I have decided not to purchase an extended warranty. When we bought out new monty and new vehicles we did not finance them, but we paid cash, so everything is paid for. Over the years we managed to save a substantial emergency fund that can be used for repair costs for the TV. Based on MOC members feedback we did buy an extended warranty when we bought the new monty, and todate we have claimed about 45% of the purchase price. The warranty expires in 2.5 yrs, so I guess we might have additional claims, and if not I consider the extended warranty a sales feature when selling the monty (if we choose to do that).

[richfaa]

Consumer report does not pay the bill if something fails. We also have a substantial travel fund that we prefer to use for travel and not Rv or truck repairs.