Mopar Extended Warranty with 100% Refund Option

[The Critic]

I am looking for some input on an extended warranty option from Mopar. For an extra $210 (on top of the normal cost of a 8/125k extended warranty), Mopar will give you a 100% refund after the 8 year term if you do not file any claims.

The downsides I can see are:

1) FCA goes out of business
2) FCA holds my money ($2785) for 8 years
3) If I do have a catastrophic failure and have to file a claim anyway, the “normal” 8/125k warranty would have been $210 cheaper.
4) If I have multiple small repairs that I pay out of pocket for and later have a large catastrophic repair, I would not be coming out ahead.

The plan would be to fix any minor issues myself and to only use the warranty for any catastrophic issues.

Here are the terms of the contract: https://www.chryslerfactoryplans.co...8_Money_Back_Maximum_Care_Plan_Provisions.pdf

Thoughts?

 

[Le_Slacker]

Do you plan on keeping it 8 years / 125 k?

If you do, do it

If you plan in trading it in much earlier, probably skip it

 

[User_3336]

HMMMM, You're buying an extended because you think you MIGHT have problems down the line. I'd say at SOME TIME AND POINT you WILL use it if you plan on keeping the truck that duration of time.

 

[The Critic]

Decided to go with the 8/125k option WITHOUT the 100% refund.

 

[Boston]

That's a big chunk of change. Save your cash.

 

[392DCGC]

Decided to go with the 8/125k option WITHOUT the 100% refund.

I wish I would’ve got the refund option for my plan - I had forgotten it was available when I bought. A $200 bet for a $2,800 payout? Sounds worth it to me. You’re worried about wasting $200 now, but apparently not worried about wasting $2,800 if nothing major goes wrong with your truck.

 

[User_3336]

KEY WORD = "IF"....

I wish I would’ve got the refund option for my plan - I had forgotten it was available when I bought. A $200 bet for a $2,800 payout? Sounds worth it to me. You’re worried about wasting $200 now, but apparently not worried about wasting $2,800 if nothing major goes wrong with your truck.

 

[Sir Ramcelot]

Decided to go with the 8/125k option WITHOUT the 100% refund.

That's the right call...you'll use it at some point even if for something small. Also, you can transfer the 8yr/125K warranty to another buyer if you sell privately down the road and that will definitely add to the price you get. Little known fact, if you do trade it in to a dealer before your vehicle hits 8yrs or 100,000 miles, you can get a pro-rated refund. You just have any dealer fill out the cancellation form at the dealership and submit to Chrylser for you. I've done this many times. Example: You trade it in at 70,000 miles. You'll get a 30% refund of what you paid (that includes all warranties purchased so Maxcare and Tire/Wheel etc. if you purchased both).

 

[The Critic]

One other interesting fact: Zeigler advised me that I can upgrade to the 7/unlimited mileage plan for the price difference ($200) at any point during the 3/36k warranty. This is a great benefit if I find that my driving situation changes significantly in the next 1-2 years.

 

[RonaldMiller77]

Do you pay out of pocket or use the insurance ?

 

[Sir Ramcelot]

Do you pay out of pocket or use the insurance ?

Not sure what you're asking but if you're asking how the warranty works, you pay your deductible ($0, $100 or $200 depending on which plan you chose) and the repair is covered.

 

[STR]

Definitely do your research. I purchased a Jeep “licensed (gibberish)” extended warranty on a GC that was recently totaled while still under the 3/36 BTB. We’ve been fighting w/Jeep and the dealership for over a month to get some of the money back... So far we’re out $2,000. Never... N E V E R again! I will never buy an extended warranty again on anything... Jeep, car, truck, TV, toaster, drill... nothing!

 

[User_3336]

This wasn't a MOPAR/FCA official ESP?

Definitely do your research. I purchased a Jeep “licensed (gibberish)” extended warranty on a GC that was recently totaled while still under the 3/36 BTB. We’ve been fighting w/Jeep and the dealership for over a month to get some of the money back... So far we’re out $2,000. Never... N E V E R again! I will never buy an extended warranty again on anything... Jeep, car, truck, TV, toaster, drill... nothing!