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Car Warranties - are they worth it?
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property.advert wrote: »Dealer selling 2008 car but won't offer a warranty. I think I'd be somewhat concerned about this.
Aftermarket warranties have a bad name. I wonder why ?
Have to agree, I can't understand why anyone is buying cars from these type of dealers, if the car was 18 years old ok fair enough. I have never been fortunate to buy a 3 year old car but the last one was 9 years old and got 3 months warranty with that, from an independent dealer. If they are confident in the car tell them to put their money where there mouth is and give you a minimum 5 months warranty, if not find a better garage that will.Everyones opinion is the most important.....no wonder nothing is ever agreed on.0 -
Seeking advice , please. We are just about to buy a 2008 car from a dealer.It comes with no warranty, but they have suggested that we take one out -Nearly £400 for 1 year up to £700 for 3 years. What do people think? Are these a good idea? We would not be able to do repairs ourselves.
Any kind of warranty is better than no warranty, the point is the amount of money it costs against what benefits are gained. If you four hundred pound warranty cover every conceivable eventuality, provides a chauffeur driven Bentley as a courtesy car and the twenty-one year old super model receptionist gives you a complimentary fumble, in a private room while you wait, then it is good value for money. If it only covers the first two hundred pounds of a claim on a wet Tuesday afternoon, after a full moon and that you brother's sister-in-law's cousin's aunty's next door neighbour's cat is called Algernon The Brave, then it it probably isn't worth it.
What does the warranty exclude and what does it cover?
Genrally speaking, four hundred pounds, for a warranty that costs the dealer fifty pounds, is not really good value for money. Try negotiating with the dealer and get it down to two hundred, or alternatively research stand alone policies on the internet. But, for piece of mind, make sure the policy is in force before you drive the car away.The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark0 -
Waste of money! Too many get out clauses and basically it is an insurance policy. In any event, when buying a used car from a dealer you are protected by the SOGA for 6 months any way. My advice is always buy from a main dealer as at least you have more chance of decent aftersales service. Make sure you keep any written descriptions of the car, make sure the car has all its service history and check the mileage. If there any minor faults with it, get the dealer to put them right before you take delivery which is the point that you hand over the balance of the money.
What is wrong with insurance policies?
The SOGA doesn't cover everything that can go wrong when driving a car.The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark0 -
forgotmyname wrote: »They do not cover anything that wears. So virtually everything is excluded.
Put your £700 into a high interest savings and keep your fingers crossed. Check your oil, water etc
often. Dont think its fairly new and just run it until something breaks.
No it isn't. Most often nowadays, what is covered is actually listed on the policy.The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark0 -
hairybeanbag wrote: »i personally would stay away from dealer extra warranty otions they always seem to get out and make you pay
theres loads of companys out there that offer extended warranties heres one i just looked up
from £99
and from £158 for the ultimate package
gocarwarranty - is one of many
you dont need to use this one theres loads out there
always read the small print in these situations i work for a garage and have worked in many garages for over 12 years i know the scams and the ways out the warranty
wear and tear items is a biggie
have a search on google and see what the diffrent compaies offer
Which are no different to those you get from dealers, just a bit cheaper, because you are contributing to the dealers' profits.The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark0 -
My Experience - I took out a 3 year warranty with the trade seller I bought my volvo from for about £700. The warranty company the dealer used is WMS (also known as VGC) and bargepole don't touch!
Money wasted. "wear and tear" small print gives them a get-out for every time I have tried to claim.
My volvo specialist tried their best to deal with WMS but had no joy. The mechanic did say that they had dealt with AA warranties in the past and not had any problem for the same issues.
Looking back I would have been better off saving the money and definitely reading the small-print!
Hope this helps.
But then two hundred and thirty pounds a year is a cheap warranty.The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark0 -
property.advert wrote: »Dealer selling 2008 car but won't offer a warranty. I think I'd be somewhat concerned about this.
Aftermarket warranties have a bad name. I wonder why ?
Why?
...........The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark0 -
If the financial wizkids of the insurance world can write a set of warranty T&Cs and sell it then……..
If they make a profit on it then on average you are better off not buying it as all you are doing is contribution to their profit.
If they don’t make a profit they’ll go out of business so you are better off not buying it as they will be out of business when you need to make a claim.0 -
If they make a profit on it then on average you are better off not buying it as all you are doing is contribution to their profit.
If they don’t make a profit they’ll go out of business so you are better off not buying it as they will be out of business when you need to make a claim.
Surely that's how insurance works. Lots of people buy the policy and don't claim. One person buys the policy and claims many times what he paid for it. So everyone is contributing to the unfortunate person's costs.
For providing that, the insurance company makes a profit.I’m a Forum Ambassador and I support the Forum Team on the In My Home MoneySaving, Energy and Techie Stuff boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.
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If the financial wizkids of the insurance world can write a set of warranty T&Cs and sell it then……..
If they make a profit on it then on average you are better off not buying it as all you are doing is contribution to their profit.
If they don’t make a profit they’ll go out of business so you are better off not buying it as they will be out of business when you need to make a claim.
That makes absolutley no sense at all.The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark0
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