Extended Vehicle Warranties

ccb

Basically, I was wondering if anyone has purchased an independent extended vehicle warranty, and if they're actually worth it?

I've recently bought a low mileage 6 year old car (my newest for a while!) and I'm contemplating an extended warranty as I plan to keep car for a while, and not sure if the price is worth the extra peace of mind.

Cheers!

C

Lum

All I can say is read the T&Cs very very carefully, paying particular attention to what is and isn't covered and any age-based claim limits.

For example if you are buying a diesel car and the warranty excludes turbochargers then there's a potentially huge bill waiting for you.

In my experience most of these policies are worthless and never pay out.

thenudeone

I am happy to pay for a good warranty on my car and they have proved to be well worth it in my experience. Others with more reliable cars or poorer warranties may think otherwise!

Like any insurance policy they have exclusions, and each person has to make their own decisions about whether they want to accept the risk of a major failure which could cost more to repair than the car's value, which happened to me once three months after deciding not to renew the warranty

Have a look at my posts in this thread for some things to look for in a car warranty:
https://forums.moneysavingexpert.com/discussion/comment/43401892#Comment_43401892 (various posts from post 65 on)

There are good warranties and bad warranties. Many warranties exclude "consequential damage", for example: damage caused to covered parts by the failure of a non-covered part or vice versa. The best ones won't.

forgotmyname

Know anyone getting married soon? You could always turn the policy documents into confetti
at least you will get some value from it.

Does the small print exclude anything that breaks or wears out. Or excludes any damage cause by another faulty
part.

On a 6 year old car i can see there being lots of limitations. If worried about repair costs do your homework and buy a
cheap reliable car that doesnt have too many onboard electrics and diagnostic systems.
Avoid turbo engines and cars with expensive clutches.

Its OK having something big and flashy with lots of bells and whilstles until it comes to repair time.