Need to purchase lifetime warranty

[flyfingers]

Get the H3LL out of CA my friend and you may be surprised how much money you can make and not have your state suck you dry with all of the high taxes and the ridiculous price of fuel!

There is nothing more that I think about - nothing.

 

[securityguy]

There is nothing more that I think about - nothing.

Come to FL...I have a guest bedroom

 

[HAL9001]

WOW! HAL9001 you are super overanalyzing this! We get it you're not a fan of extended warranties.
Are you super bored this evening?
(P.S. I paid $39K for my truck (not $60K), so spending another $1000 for my peace of mind was nothing).

I'm a little bored, yes, thanks for asking, lol. I think a lot of us come here when we're bored.

If you think I overanalyzed it with a few simple paragraphs in a couple of forum posts, FCA and everyone else who offers extended warranties have no doubt ultra-analyzed it with massive amounts of data in every detail possible probably covering thousands of written pages. This is a complex and highly profitable business plan. It may be as lucrative and as profitable as selling the actual vehicles themselves.

Look, as I said twice, I'm not telling anyone not to buy one, that's totally up to you. I simply want everyone to know some relevant and important facts about them. We all come to forums like this for information about things we're interested in. People who have no interest in learning such things don't bother to read these forums, so we all come here for a reason. We may or may not like or agree with what we read or learn, and that's ok, but it's certainly better than remaining uninformed because with enough information we can then make up our own minds as we see fit. And that's why we take the time to read other people's thoughts and opinions and the information they provide, whether we agree or disagree.

With enough facts at hand, we all can make better well-informed decisions. It's rarely simply black and white, everyone has different needs and requirements. If you're strictly a financial numbers person, then these warranties may not make sense to you, but if you're not and purchasing an extended warranty gives you peace of mind and helps you to sleep better at night, then that's money well spent.

 

[Willwork4truck]

In this particular case, Consumer Reports know what they're talking about. The part about do you feel lucky is correct, but it's the other way around. You're lucky if your extended warranty pays off. Here's a post I made on the other RAM forum in regards to this.

Extended warranties are always a gamble.

Basically, you're paying upfront for repairs that may never happen. For example, the 8 Year/100,000 Miles $0 deducible Mopar Maximum Care warranty currently costs $3,365 for a 2021 RAM 1500 with under 12,000 miles.

View attachment 79958

So, in order for it to pay off, you would have to incur more than $3,365 in repairs from year 3 to 8 for the basic portion and from year 5 to 8 for the powertrain portion, or until you exceed 100,000 miles, whichever comes first.

More than $3,365 in repairs may or may not happen in this time frame, especially now that FCA reduced the maximum warranty period to only 8 years (which is why they did that). Keep in mind that FCA knows from years and years of carefully recorded data precisely what all the repairs from all the extended warranties will cost them and then adds a sizable profit to calculate the cost of the policy. This means that the majority of extended warranty purchasers will not receive a payout greater than the cost of the warranty. It doesn't matter which term plan or deductible you choose, FCA precisely calculates the price for each to ensure that they always make a sizable profit overall.

The $100 and $200 dollar deductible warranties are less expensive to buy upfront, but FCA has carefully calculated those too to be just as profitable. The total amount of deductions cost as much or more than the up-front price over the life of the warranties overall. Again, I'm talking overall, not anyone's specific individual experience. Some will win, but most must lose.

For the minority of those who do receive back more than they paid, they'll be very happy and recommend these warranties to everyone. For the majority who lost money on them, they'll be pissed off and are likely to keep this bad experience to themselves. No one brags about losing money.

So, it's a gamble, and just like real gambling, the house always wins. Companies using this business model must always take in more than they pay out. That's what makes casinos, insurance companies, lotteries, and extended warranties a very profitable business for the owners but a considerable risk for the customers.

I'm not telling anyone not to buy one, I'm just trying to convey what the actual odds are. There is still a chance that it may pay off for you, especially if you drive your truck hard, pull a heavy trailer, or do anything else that might wear the vehicle out faster. The old 12 year and lifetime warranties were a much better bet, which is exactly why you can't get them anymore.

X2. It’s a business, thus they calculate it for profit. Too many of us would like “goodwill” repairs completed naively thinking that the positive pr or brand loyalty that would occur would more than equal out FCA’s “contribution“. Sadly, accountants and shareholders don’t agree... I would gladly see a KIA type 10 year 100,000 mile bumper to bumper be given but we’d just all pay for it in a pass a long charge.

That previous KIA warranty was a marketing -loy which probably saved them here in the US. Prior to about 2005, KIA’s were thought of as rolling crapmobiles by many. The 10 year warranty by itself sold a lot of cars for them.

 

[securityguy]

X2. It’s a business, thus they calculate it for profit. Too many of us would like “goodwill” repairs completed naively thinking that the positive pr or brand loyalty that would occur would more than equal out FCA’s “contribution“. Sadly, accountants and shareholders don’t agree... I would gladly see a KIA type 10 year 100,000 mile bumper to bumper be given but we’d just all pay for it in a pass a long charge.

That previous KIA warranty was a marketing -loy which probably saved them here in the US. Prior to about 2005, KIA’s were thought of as rolling crapmobiles by many. The 10 year warranty by itself sold a lot of cars for them.

Just for clarification, KIA does not have a 10/100 Bumper to Bumper warranty

 

[brian42]

It's all calculated into the price. My wife just got a new Ford Ranger that comes with 2 'free' years of regular maintenance. It's not a separate charge so it's 'free' but I'm pretty sure it's included in the purchase price of the vehicle. Plus now you bring it to the dealership and the maintenance is on record (easier to resell as a CPO) and they can come up with something else for you to pay to have done during their "courtesy inspection" while it's in there.

Part of the price the 2021 truck is how much FCA shelled out to fix the 2020 trucks. They get $3000 from me and maybe they get it free and clear and maybe they don't. If they don't and I cash in on $10,000 in repairs before it expires they will be passing at least $7K on to new truck buyers in the following years.

Yes, the house always wins. Whether they get my money outright or have to spread it around to collect they will get paid.

I don't think HAL9000's comparison is on par as health, home, and auto insurance are required and you pay every month on those. The ESP is a one-time payment for the policy and there's no renewal or evaluation of fees based on claims. The aforementioned ones can go up in cost if you make claims or your health worsens. Any of those will be an increased risk of payout and all of those providers are for-profit also.

I consider the money I spent as a Flexible Spending Account (FSA) for the health insurance of my truck. It's there to pull from if I have a problem. If not, it was worth the peace of mind to me.

My family wears glasses and I spent over $900 in vision insurance last year and nobody got an eye exam or glasses. That doesn't mean I'm going to cancel it now.

For me it's better have it and not need it than need it and not have it.

If I drove less or planned to trade the truck in after only a few years I would probably be singing a different tune, but $3K for an extra 5 years and 100K+ miles was a good deal to me for my situation.

 

[securityguy]

It's all calculated into the price. My wife just got a new Ford Ranger that comes with 2 'free' years of regular maintenance. It's not a separate charge so it's 'free' but I'm pretty sure it's included in the purchase price of the vehicle. Plus now you bring it to the dealership and the maintenance is on record (easier to resell as a CPO) and they can come up with something else for you to pay to have done during their "courtesy inspection" while it's in there.

Part of the price the 2021 truck is how much FCA shelled out to fix the 2020 trucks. They get $3000 from me and maybe they get it free and clear and maybe they don't. If they don't and I cash in on $10,000 in repairs before it expires they will be passing at least $7K on to new truck buyers in the following years.

Yes, the house always wins. Whether they get my money outright or have to spread it around to collect they will get paid.

I don't think HAL9000's comparison is on par as health, home, and auto insurance are required and you pay every month on those. The ESP is a one-time payment for the policy and there's no renewal or evaluation of fees based on claims. The aforementioned ones can go up in cost if you make claims or your health worsens. Any of those will be an increased risk of payout and all of those providers are for-profit also.

I consider the money I spent as a Flexible Spending Account (FSA) for the health insurance of my truck. It's there to pull from if I have a problem. If not, it was worth the peace of mind to me.

My family wears glasses and I spent over $900 in vision insurance last year and nobody got an eye exam or glasses. That doesn't mean I'm going to cancel it now.

For me it's better have it and not need it than need it and not have it.

If I drove less or planned to trade the truck in after only a few years I would probably be singing a different tune, but $3K for an extra 5 years and 100K+ miles was a good deal to me for my situation.

THIS ^^^

 

[User_3336]

I don't think HAL9000's comparison is on par as health, home, and auto insurance are required and you pay every month on those. The ESP is a one-time payment for the policy and there's no renewal or evaluation of fees based on claims. The aforementioned ones can go up in cost if you make claims or your health worsens. Any of those will be an increased risk of payout and all of those providers are for-profit also.

Its HAL9001. Somewhere in there I guess he got an upgrade to account for his ESP logic! LOLOLOL

 

[HAL9001]

Its HAL9001. Somewhere in there I guess he got an upgrade to account for his ESP logic! LOLOLOL

There's no need to be a smart a**. Can't we have a simple discussion about a typical subject without bashing? The information I posted was highly relevant to this discussion and people needed to know about it to make an informed decision. It's fine if you don't agree, simply say so, but there's absolutely no call for acting out.

These forums do not work if people are not permitted to state their opinion without ridicule and trolling.

 

[securityguy]

These forums do not work if people are not permitted to state their opinion without ridicule and trolling.

Why? The democrats don't let conservatives give their opinions without ridicule and trolling

 

[HAL9001]

...I don't think HAL9000's comparison is on par as health, home, and auto insurance are required and you pay every month on those. The ESP is a one-time payment for the policy and there's no renewal or evaluation of fees based on claims. The aforementioned ones can go up in cost if you make claims or your health worsens. Any of those will be an increased risk of payout and all of those providers are for-profit also...

The point was not about whether the insurance was required or not, nor was it about the specific cost. The point was that auto, home, and health insurance are worth it because they protect against financial ruin and the payouts could be in the hundreds of thousands or even over a million whereas extended auto warranties do not protect against financial ruin and that you're spending a few thousand dollars to only protect against paying a few thousand dollars with a payout of no more than a few thousand at most.

 

[HAL9001]

Why? The democrats don't let conservatives give their opinions without ridicule and trolling

Seriously?? You're turning this into a political discussion now at this incredibly sensitive point in time? That's going to end well. I think you'd better take a look at the forum rules.

This is just a simple discussion about extended warranties, nothing more. There is absolutely no need to turn it into a pissing contest or compare it to politics.

If you're endorsing ridicule and trolling as something that should be tolerated in these forums just because you disagree with someone's opinion, then this forum is going to go downhill fast.

 

[securityguy]

Seriously?? You're turning this into a political discussion now at this incredibly sensitive point in time? That's going to end well. I think you'd better take a look at the forum rules.

This is just a simple discussion about extended warranties, nothing more. There is absolutely no need to turn it into a pissing contest or compare it to politics.

If you're endorsing ridicule and trolling as something that should be tolerated in these forums just because you disagree with someone's opinion, then this forum is going to go downhill fast.

Just sayin' ...you can take a DEEP BREATH now Sir! It's not a "simple" discussion...you've been writing BOOKS about warranty pros and cons

 

[HAL9001]

Just sayin' ...you can take a DEEP BREATH now Sir! It's not a "simple" discussion...you've been writing BOOKS about warranty pros and cons

So what? Is there something wrong with contributing to this discussion? I don't call a few paragraphs in a few posts "books" and I don't recall seeing any limits to the amount someone can write in a post. Are you a moderator, where do you get off telling me what I can and can't post?

Isn't the whole point of these forum threads to discuss the topic at hand to whatever lengths are required?

Can we please now get back to the subject at hand.

 

[securityguy]

So what? Is there something wrong with contributing to this discussion? I don't call a few paragraphs in a few posts "books" and I don't recall seeing any limits to the amount someone can write in a post. Are you a moderator, where do you get off telling me what I can and can't post?

Isn't the whole point of these forum threads to discuss the topic at hand to whatever lengths are required?

Can we please now get back to the subject at hand.

I truly don't believe that there are any more points to be made Hal...you cover them all Now to let everyone make their own decision going forward. After the books you wrote above, I believe that everyone has everything they could ever need or want to make their decision In addition, I don't think I said anywhere in any of my posts what you can and cannot post!

 

[BigD]

FYI - KIA gives u a 5 yr/60,000 mile bumper to bumper & a 10 yr powertrain, but the touchscreen entertainment & radio is only covered for 3 yrs/36,000 miles. That really pissed me off when we bought our Sorento back in 2019.

 

[securityguy]

FYI - KIA gives u a 5 yr/60,000 mile bumper to bumper & a 10 yr powertrain, but the touchscreen entertainment & radio is only covered for 3 yrs/36,000 miles. That really pissed me off when we bought our Sorento back in 2019.

Yep...just like I said...it's not a BTB 10/100. I bought a KIA way back when too and discovered what you just stated above. I don't think most folks realize that and it is certainly an eye opener...especially if something goes wrong after the 3/36 or 5/60 has expired

 

[Condor757]

Love our 2019 VW Atlas.. 6year/72000 factory warranty. Wish the Rams had that!

 

[securityguy]

Love our 2019 VW Atlas.. 6year/72000 factory warranty. Wish the Rams had that!

Totally agree. However, VW stopped that plan...they only did it after Diesel Gate to drum up sales after they tanked and their dealerships were dead as a door nail and now reverted back to their standard warranty.

 

[User_3336]

There's no need to be a smart a**. Can't we have a simple discussion about a typical subject without bashing? The information I posted was highly relevant to this discussion and people needed to know about it to make an informed decision. It's fine if you don't agree, simply say so, but there's absolutely no call for acting out.

These forums do not work if people are not permitted to state their opinion without ridicule and trolling.

Oh good lord, lighten up! HAL9000 (recently upgraded to HAL9001). That extra "RAM" you received in that upgrade is all full now (with ESP info)! LOL LOL