Extended Warrenty

[JigMe]

My wife drives a 2008 VW, and our factory warrenty just ended. We got the option to extend the warrenty for 7 years 80k miles, but confused on what is really tell me and the salesman from VW wont give me a clear answer. We had a 5 year 50k factory warrenty, so if I purchase the 7 year 80k miles extended warrenty. Does that mean, my warrenty will be extended for 7 more years which will end in the year of 2019? Or does that mean, they will extend my 5 year to a 7 year which ends in 2 years?

I never had the need to purchase extended warrenties, my d**n VW hits the repair shop every 6-7k miles and luckily everything is covered under warrenty.

[Marty]

I would interpret that to mean until 2019. There's a big difference between extending "for" seven years and extending "to" seven years. But I wouldn't do a thing until that's on paper with 100% clarity.

[Fishing Rhino]

Here's the deal on extended warranties, as I see it.

They wouldn't sell them, if they didn't make money on them. Granted, they may lose money on a policy now and then, just like insurance companies do when they have to pay large claims against individual policies. All in all, they make a profit on overall sales.

It's the same with warranties. Overall, they make a profit on the total sales of extended warranties, or they would not sell them. If they make money, the customers have to lose money, save for the few who have unusual problems. I don't buy extended warranties on cars, appliances or electronics, and have yet to lose a cent because of it.

My best guess is that we are more than a few thousand dollars ahead of the game for declining the extended warranties over the past couple of decades.

[JigMe]

  On 6/17/2012 at 11:29 PM, Marty said:

I would interpret that to mean until 2019. There's a big difference between extending "for" seven years and extending "to" seven years. But I wouldn't do a thing until that's on paper with 100% clarity.

It just says 7 years, 80k extended warranty. When I asked the salesman, he said 7yr 80k...no kidding, I can read the paper myself! There are nowhere no the agreement from VW dealership says: extended for or extended to... I was hoping for extended for 7 years, because they want 2400 dollars for it.

[grimlin]

  On 6/17/2012 at 11:46 PM, Lee.MD said:

It just says 7 years, 80k extended warranty. When I asked the salesman, he said 7yr 80k...no kidding, I can read the paper myself! There are nowhere no the agreement from VW dealership says: extended for or extended to... I was hoping for extended for 7 years, because they want 2400 dollars for it.

Solve that problem with "what year will the 7 year warranty expire?" If they can't give you a straight answer...I wouldn't do it then. I'm gonna bet they are just gonna extend it(add to) to the 5 year warranty.Which means you'll only get 2 extra years....

I didn't get the extended warranty either...Glad I didn't...it wouldn't have covered some of the things that went wrong with the car anyways.Would have been a waste of money for me.

[Stasher1]

  On 6/17/2012 at 11:52 PM, grimlin said:

Solve that problem with "what year will the 7 year warranty expire?" If they can't give you a straight answer...I wouldn't do it then. I'm gonna bet they are just gonna extend it(add to) to the 5 year warranty.Which means you'll only get 2 extra years....

I didn't get the extended warranty either...Glad I didn't...it wouldn't have covered some of the things that went wrong with the car anyways.Would have been a waste of money for me.

That would be my guess as well.

[Bassn Blvd]

  On 6/17/2012 at 11:52 PM, grimlin said:

Solve that problem with "what year will the 7 year warranty expire?" If they can't give you a straight answer...I wouldn't do it then. I'm gonna bet they are just gonna extend it(add to) to the 5 year warranty.Which means you'll only get 2 extra years....

I didn't get the extended warranty either...Glad I didn't...it wouldn't have covered some of the things that went wrong with the car anyways.Would have been a waste of money for me.

X3

Check with your credit union next time. Sometimes they can give you a better deal on the extended warranty. I seriously doubt you're getting a 7 year warranty for 2400 bucks on a car that's already 5 years old, assuming you bought it new.

I just asked my wife, who works at a credit union and sells extended warranties. LOL, She said VW's fall apart easily. She said it's extended by 2 years to give you a total of 7 years. She said make sure you get a list of EVERYTHING that is covered. At times, extended warranties don't cover everything the factory warranty covered.

[Long Mike]

Screw the extended warranty. If your VW has to go into the shop every six to seven thousand miles, get rid of it. Your vehicle is obviously a lemon. So much for German engineering.

[Hyrule Bass]

  On 6/18/2012 at 2:26 AM, Long Mike said:

Screw the extended warranty. If your VW has to go into the shop every six to seven thousand miles, get rid of it. Your vehicle is obviously a lemon. So much for German engineering.

^^^this

[A-Jay]

Bank the money you would spend on the extended warrenty instead.

Then if the vehicle is in need of repair later - you'll have the money to pay for the work.

If you never need it, then you have a nice lump sum available for a down payment on your next ride.

A-Jay

[JigMe]

Interestly, extended warranty is to extended your current warranty for 7 years. I got quoted 2400 dollars by a salesman, but when I went into the dealership today after work. Ourisman VW at maryland gives me a totally different quote, 7 years for 3400 dollars. So I asked for their finance manger, and she gives me even a higher quote for 4049 dollars. I just got up, and kept on walking...no way in hell I'm buying another German car.