buy a van warranty, is it worth it?

Amazin

Im looking to buy a second hand van and thinking getting the whole year warrenty along with my insurance. How does it work? Does the van need come from a dealer rather than a private seller? I hope its worth getting it. I can see a thread on here about it and it doesn't warrenties are that reliable. I hope im wrong:S

Foxy-Stoat_3

How much is this warranty your thinking about buying?

Herzlos

Also how much is the van?

Any warranty is going to exclude wear and tear or pre-existing faults. On an old enough van that's pretty much everything. Unless it's just out of manufacturers warranty and from a main dealer it's probably not worth bothering.

AdrianC

Any aftermarket warrant company is in business for one thing and one thing only - to make a profit.

They do this very simply. They take money in, in premiums. They spend money on administering the business, marketing their products, and paying out claims. They make a profit by paying out less than they receive.

Do you REALLY want to buy a van that's SO much less reliable than average? Because that's the only way buying a warranty will work out cheaper for you than just paying to fix it as and when you have a problem with it...

forgotmyname

Put the warranty money towards a better van.

They generally exclude wear and tear, can you think of anything that does not have wear and tear after x amount of years?

facade

It is your money, but what you are doing is betting that something totally unforeseen and catastrophic will happen, and they are betting that anything that does happen can be explained away as "wear & tear" or "lack of full & prompt servicing" so they don't have to pay you.

If the warranty is cheap enough, it could be a good bet.

Print_Screen

Actually can you pay me the money instead and I guarantee That I will provide the same level of cover and service a warranty company will.

Amazin

Foxy-Stoat wrote: »

How much is this warranty your thinking about buying?

I don't know, this is why im asking. I have a budget of £4000 and hopefully thats enough to get me a van that will last me few years. I know its a bit of gamble.

Looks like its not worth it then, I spoke to few dealers already and many of them offer 3 months warranty at least or 12 months. So has anyone on here got compensated....ever?

forgotmyname

Compensated for what? My sisters MIL bought a car and the clutch slipped within weeks. They tried to fob her off saying they tested it. I took it back and said you tested it by driving it and it didnt slip. Now its slipping.

They sorted it, It wasn't until after that i found out she was a clutch killer, reverse with the rev counter bouncing off the top of the dial and slipping the clutch.

When the clutch went again i said no they wont replace it again.

Its a van (for business use)? so your not really a consumer.

arcon5

AdrianC wrote: »

Any aftermarket warrant company is in business for one thing and one thing only - to make a profit.

They do this very simply. They take money in, in premiums. They spend money on administering the business, marketing their products, and paying out claims. They make a profit by paying out less than they receive.

Do you REALLY want to buy a van that's SO much less reliable than average? Because that's the only way buying a warranty will work out cheaper for you than just paying to fix it as and when you have a problem with it...

Well that's the same with any insurance policy - but we like most still have contents insurance despite not having used it in the last x years. A lot of us still have iphone insurance, breakdown cover despite never having broken down. Peace of mind is sometimes worth it so you can't just rule out an insurance as a whole based on the fact they are a profit making organisation pricing in their favor based on stats.

Saying that op, depends on what it covers, how old the van is etc etc etc.