Extended Car Warranty on older car...

MK55

Hi,

I am buying my first proper car, and really need some advice. I have had 3 cars since passing my test but always been under 1K etc for running around, so never had a warranty, just paid for repairs. After getting 4 years no claims and my insurance coming down to a good level I have bought a mini. :j:j It’s an 06 plate, and I get it next week.

The question is; is it worth getting a warranty on the car? Warranty direct have offered me one at £23.21 Per Month, so £278.52 annually. :eek::eek:
It doesn’t include wear and tear, so breaks, tyres etc are excluded. This is what is putting me off as these are the only problems I’ve had on previous cars.

Should I just put £30 away each month into a separate account ready for if something happens?? What do you all think J??

Thanks

JimmyTheWig

Are you an AA member?
Have a look at their Breakdown Repair Cover. Covers parts and labour for a breakdown (again, doesn't include wear and tear) that can't be fixed at the side of the road.
There's a maximum per claim of £500, and a maximum of 4 claims per year.
Costs less than £100 a year on top of your membership.

forgotmyname

Most policies are only good for hamster bedding.

Save your money. Everything on a 2006 car will be worn if you attempt to claim.

If you need cover for parts that dont wear or break then a warranty may suit you.
As long as the part that doesnt wear or break, Gets broken by a part that does. Because that wont be covered either.

JimmyTheWig

Certainly the two times we've needed to claim on the AA policy they've paid out.
Don't know if the same would be true on a standard warranty, though.

MK55

Hi Jimmy, I'll have a look at that RAC 1, looks quite good.

thenudeone

forgotmyname wrote: »

Most policies are only good for hamster bedding.

Save your money. Everything on a 2006 car will be worn if you attempt to claim.

If you need cover for parts that dont wear or break then a warranty may suit you.
As long as the part that doesnt wear or break, Gets broken by a part that does. Because that wont be covered either.

What a blinkered and one-sided view.

I've got a warranty which includes wear and tear, breakages and insured parts damaged by the failure of an un-insured part (such as a cam shaft breakage (££££s) caused by the failure of the cam belt). And it was bought just before the car was 6 years old.

Just because you might have bought a poor policy without shopping around in the past, doesn't mean everyone else does the same.

OP: Have a look at these threads which cover the issues to look out for:
https://forums.moneysavingexpert.com/discussion/3811663
https://forums.moneysavingexpert.com/discussion/3084630

But remember that even on a good policy, the insurer has to cover the cost of claims and admin costs and profit, so ON AVERAGE you'd be better just saving the money instead; although that will be no comfort if you decide not to buy a warranty but suffer a major fault which costs ££££s to repair.

forgotmyname

No i have never bought a poor policy. Because i have never bought a policy at all.
I used to do all the work myself. Buying 2 or more cars to make one very good one. Mechanical. I wouldnt bother with welding 2 cars together though.

Leave that to others.

I now buy a car within my means and keep enough back for repairs or buy another. Getting on now for crawling under cars

You have a policy that covers wear and tear? So you can claim for worn brakes and clutches etc?

thenudeone

forgotmyname wrote: »

You have a policy that covers wear and tear? So you can claim for worn brakes and clutches etc?

Of course not. I didn't say all wear and tear of all items.

Tyres, friction materials such as brake pads, and items which are listed for replacement in the service schedule, such as the timing belt, are excluded from most or all warranties. Only a lease contract including maintenance would cover this sort of wear.

But, wear and tear of any insured component (for example, a worn suspension ball joint, wheel bearing, CV joint, or drive shaft) would be covered by my warranty.

forgotmyname

Whats the difference between a brake pad wearing and a suspension joint
wearing?

If i had a car with 50,000 miles + i would expect them to say bearings and suspension joints are fair wear and tear.

thenudeone

A brake pad's sole purpose is to create friction by applying pressure to the brake disk. That friction creates wear. They are expected to wear out. It is generally accepted (and usually explicitly stated) that items like that aren't covered by a warranty, which covers mechanical breakdown or failure. You may find an insurer prepared to offer a policy covering them but it's unlikely. It's more likely to be covered by a maintenance contract with a leased car, but at a cost.

londonTiger

imo if you get the cambelt done when its due you should not have the cambelt snapping like that. failure to get them replaced as per manufacturers schedule may void the warranty in any case/

also gettting cambelt fitted by makers official garage would cover the cambelt with it's own warranty and in the event of a cambelt failure the garage installing the cambelt will be responsible for the engine damage + other damage. (this is why official dealer garage is important, a third rate garage will give you problems when it comes to chasing them for bad workmanship)

add on warranties are good for high value cars, got a fancy 2009+ audi or bmw? Go for it. It's not any good for cars going on sale for 2-4 grand and can be frequently spotted in breakers and generally with surplus of used parts around

e.g. a 2002 golf can get a rebuilt engine fitted for £800. An engine replacement is usually the biggest expense. it makes no sense to get a warranty on a cheapish car.

thenudeone wrote: »

What a blinkered and one-sided view.

I've got a warranty which includes wear and tear, breakages and insured parts damaged by the failure of an un-insured part (such as a cam shaft breakage (££££s) caused by the failure of the cam belt). And it was bought just before the car was 6 years old.

Just because you might have bought a poor policy without shopping around in the past, doesn't mean everyone else does the same.

OP: Have a look at these threads which cover the issues to look out for:
https://forums.moneysavingexpert.com/discussion/3811663
https://forums.moneysavingexpert.com/discussion/3084630

But remember that even on a good policy, the insurer has to cover the cost of claims and admin costs and profit, so ON AVERAGE you'd be better just saving the money instead; although that will be no comfort if you decide not to buy a warranty but suffer a major fault which costs ££££s to repair.