To Buy Warranty or Not?

[Reverse]

I have MaxCare on my 2014 which paid for a broken driver-side mirror (lists for near a thousand) and also a $5000 engine repair at 100,000 miles. Bought warranty again for our 2020 at time of purchase at dealer. Came prepared with Ziegler price and dealer dropped their price of over $4K to Ziegler's price, which was almost 50% lower

I like the peace of mind, but I can see how you could roll the dice and just park the money in a savings account.

 

[NorthStar]

Just be certain to read the Plan Policy when you receive it in the mail. FCA has begun excluding a number of items from the MaxCare Plan which were previously covered...to the point I’m no longer certain it is worth the money. Excluded items including a ton of exterior items including water leaks, trim, and a number of interior items such as carpet, upholstery, door handles, etc

Not covered includes the following from the plan:

 

[User_3336]

Just be certain to read the Plan Policy when you receive it in the mail. FCA has begun excluding a number of items from the MaxCare Plan which were previously covered...to the point I’m no longer certain it is worth the money. Excluded items including a ton of exterior items including water leaks, trim, and a number of interior items such as carpet, upholstery, door handles, etc

Not covered includes the following from the plan:
View attachment 72632

If that is so (saying it was covered previously), then I'd like to see a copy of the PREVIOUS policy declarations where it stated it WAS.

 

[NorthStar]

Funny you mention that as I was able to locate an old plan I still had in my files from 2017. It has the same exclusions and I missed it back then. No problem as I see them now and that was all I needed to cancel my extended warranty this afternoon.

 

[User_3336]

Funny you mention that as I was able to locate an old plan I still had in my files from 2017. It has the same exclusions and I missed it back then. No problem as I see them now and that was all I needed to cancel my extended warranty this afternoon.

I'm not going that far as to cancel it. there are still A LOT of covered items and I still see value in it the the $985 I paid for it over 7 years 75000 miles.

 

[SJC5]

What happens to the extended warranty if you sell your car, it is totaled or you want to cancel it?

 

[NorthStar]

What happens to the extended warranty if you sell your car, it is totaled or you want to cancel it?

You can transfer it to the new buyer or cancel it for a prorated refund.

 

[User_3336]

Cancellation Policy - - -
On cancellation requests received within the first 60 days from the original purchase date of the Plan, you will be refunded the full amount you paid for the Plan, provided no claims have been paid against the Plan. In the event claims have been paid, or requests received after 60 days, your refund will be based on the full amount you paid for the Plan, less a pro-rata adjustment for time or mileage used, whichever is greater, less a cancellation fee as indicated below. There is a $75 Cancellation Fee which will be deducted from the refund amount after 60 days.

Transfer Policy - - -
TRANSFER POLICY: The original purchaser may authorize transfer of coverage, provided the Plan has not been canceled. Remaining Plan coverage may be transferred to the first subsequent purchaser of the vehicle. Thereafter, the Plan is non-transferable and non-cancelable. There is a $50 Transfer Fee.

 

[SJC5]

Cancellation Policy - - -
On cancellation requests received within the first 60 days from the original purchase date of the Plan, you will be refunded the full amount you paid for the Plan, provided no claims have been paid against the Plan. In the event claims have been paid, or requests received after 60 days, your refund will be based on the full amount you paid for the Plan, less a pro-rata adjustment for time or mileage used, whichever is greater, less a cancellation fee as indicated below. There is a $75 Cancellation Fee which will be deducted from the refund amount after 60 days.

Transfer Policy - - -
TRANSFER POLICY: The original purchaser may authorize transfer of coverage, provided the Plan has not been canceled. Remaining Plan coverage may be transferred to the first subsequent purchaser of the vehicle. Thereafter, the Plan is non-transferable and non-cancelable. There is a $50 Transfer Fee.

Thank you.

 

[JimD007]

The number of phone calls trying to sell me this insurance have throughly convinced me it is a lot better deal, on average, for the seller than for the buyer. If they can afford to pay people to make all the calls, they are raking it in. I'll take my chances.

 

[User_3336]

The number of phone calls trying to sell me this insurance have throughly convinced me it is a lot better deal, on average, for the seller than for the buyer. If they can afford to pay people to make all the calls, they are raking it in. I'll take my chances.

those are always THIRD PARTY warranties that you should avoid at all costs.

The DMV sells that information.

 

[AZHUND]

If anyone has Geico I recommend looking into their MBI coverage. I have yet to use it (tend to replace vehicles long before they ever have issues) but is cheap, is 'pay as you go', and has really good reviews in various forums/sites for people that actually had to use it. So I am going that route with my RAM (which is non-etorque and only level 1 Bighorn shiny toys so I am hoping for a complete lack of issues with it).

I do have a Mopar extended warranty on my JLU though as the Ziegler price was really good.

 

[NorthStar]

My wife convinced me to keep the Mopar Extended Warranty as she sees value in having it. “For $1175, it’s cheap insurance against issues between the start of year 4 and the end of the 8 year extended warranty.” Happy wife, happy life - period.

I had sent a cancellation notice to Ziegler on Saturday but notified them via email last night not to cancel it. I received an email this morning from them stating they would not cancel it per my request. Once again, stellar customer service from Ziegler!

 

[Condor757]

I just got rid of mine. A second time. Don’t laugh.. ;-) The timing was just not right for me folks. I’m absolutely not debating that Zeigler has great deals and that it’s not a smart financial decision - in many ways an extended warranty will pay off. The problem for me was simply that I’m not going to be using the extended warranty for two more years / 24,000 more miles (I just passed 1 year/12000 miles so my factory warranty is still in effect for awhile.) And if I won’t be using it for two more years I’ve got a lot better use for that $1430 in the meantime... specifically, if my pay at my job gets cut due to Covid.
So to all of you who purchased thru Zeigler, congrats. They definitely are the best prices. Hope you never have to use it!

 

[User_3336]

I just got rid of mine. A second time. Don’t laugh.. ;-)

OMG! You are freaking kidding??????????????

Even if you purchased it AGAIN later, its still starts on your in-service date.

 

[NorthStar]

I had to read his post twice and the part that stuck out for canceling was “specifically, if my pay at my job gets cut due to Covid.” Economics have caused more than one guy - myself included a number of years ago - to cancel an extended warranty.

 

[Condor757]

OMG! You are freaking kidding??????????????

Even if you purchased it AGAIN later, its still starts on your in-service date.

I know. I’ve pretty much resigned myself to not going down that route with this truck. The timing is just not right and I cannot justify spending that money today. And if I would choose to purchase it at the end of the factory warranty, it would cost a lot more, at least $600-800 more. So no extended warranty for me, it’s all good.