Extended warranty - Is it worth it?
#1
Extended warranty - Is it worth it?
Hello my fellow G37 Owners!
I received a notice in the mail a few days ago informing me about my warranty due for expiration and that I should purchase extended warranty if I want to. Now, I've had to use the services offered with the warranty twice already. I broke down once because the fuel guage showed me that there was fuel but there actually wasn't any and I've had my AC Compressor broken once.
One would think that a "bumper to bumper platinum" warranty might actually be useful but it is not cheap at all. I've, for now, signed up for it but I have a month to cancel it for full money back. I've been offered the following.
For 90k miles and 4 extra years of platinum coverage, I pay a $140 down payment and a $103.42 per month for 24 months. That is a LOT of money. In case I decide to cancel the coverage at any time, they will pay me back a pro-rated amount. 100k and 4 years costs 165 down and 120.55 monthly for 24 months. Warranty covers non-accident related failures apart from regular wear and tear.
I've signed up for it because the final date to sign up for it is tomorrow and I didn't want to lose this chance. I have a 30 day period before i can cancel this for a full refund. I do understand that extended warranty is a gamble. It is the manufacturer betting that your vehicle won't fail or you betting that your vehicle might fail and are buying peace of mind. With this said, I really cannot ask the members to tell me what to do here but what I do want to ask is what has the member experience been after the factory warranty running out? Have a lot of people been able to use their coverage? I was thinking that if I sold the car, will it add value to the car by virtue of having extended coverage? if yes, is it still worh paying that much? It will come to about $2600 over 2 years.
Thank you,
S
I received a notice in the mail a few days ago informing me about my warranty due for expiration and that I should purchase extended warranty if I want to. Now, I've had to use the services offered with the warranty twice already. I broke down once because the fuel guage showed me that there was fuel but there actually wasn't any and I've had my AC Compressor broken once.
One would think that a "bumper to bumper platinum" warranty might actually be useful but it is not cheap at all. I've, for now, signed up for it but I have a month to cancel it for full money back. I've been offered the following.
For 90k miles and 4 extra years of platinum coverage, I pay a $140 down payment and a $103.42 per month for 24 months. That is a LOT of money. In case I decide to cancel the coverage at any time, they will pay me back a pro-rated amount. 100k and 4 years costs 165 down and 120.55 monthly for 24 months. Warranty covers non-accident related failures apart from regular wear and tear.
I've signed up for it because the final date to sign up for it is tomorrow and I didn't want to lose this chance. I have a 30 day period before i can cancel this for a full refund. I do understand that extended warranty is a gamble. It is the manufacturer betting that your vehicle won't fail or you betting that your vehicle might fail and are buying peace of mind. With this said, I really cannot ask the members to tell me what to do here but what I do want to ask is what has the member experience been after the factory warranty running out? Have a lot of people been able to use their coverage? I was thinking that if I sold the car, will it add value to the car by virtue of having extended coverage? if yes, is it still worh paying that much? It will come to about $2600 over 2 years.
Thank you,
S
#4
Registered User
#5
aah! It looks like I've been swindled!
I just took a closer look and there indeed is no mention of "official" Infiniti services. I just assumed that it was. I think I will cancel right away.
That said, I did inquire with the dealership I get my car serviced at a few months ago and they said that they can ask someone to get in touch with me which is why I didn't read the letter with as much scrutiny as I usually would. I will call them and cancel the policy.
In any case, would the wise members advise getting an extended warranty? My standard warranty expires in November.
I just took a closer look and there indeed is no mention of "official" Infiniti services. I just assumed that it was. I think I will cancel right away.
That said, I did inquire with the dealership I get my car serviced at a few months ago and they said that they can ask someone to get in touch with me which is why I didn't read the letter with as much scrutiny as I usually would. I will call them and cancel the policy.
In any case, would the wise members advise getting an extended warranty? My standard warranty expires in November.
#7
Super Moderator
Personally, I would find someplace else to spend the money. Aside from some anamolies you read about online, Japanese cars in general are historically reliable.
If you feel that you must carry an extended warranty for peace of mind purposes, I'd put it to better use and buy a BMW/Mercedes with the same warranty.
If you feel that you must carry an extended warranty for peace of mind purposes, I'd put it to better use and buy a BMW/Mercedes with the same warranty.
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sukumarpant (09-18-2013)
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#8
I'm sold. Thanks guys. Great points!
The way I see it, I'll be spending over $2,500 over a period of 2 years (and stay covered for 2 more after that) and that money is all on the bet that something can fail which is rare for Japanese cars, if you service them in a timely manner, which I do. Even if I do end up in a position where I have to spend a ton of money on repairs, I will have the $2,500 that I saved from not paying for the Extended warranty.
I'm going to call and cancel, right now. :-)
The way I see it, I'll be spending over $2,500 over a period of 2 years (and stay covered for 2 more after that) and that money is all on the bet that something can fail which is rare for Japanese cars, if you service them in a timely manner, which I do. Even if I do end up in a position where I have to spend a ton of money on repairs, I will have the $2,500 that I saved from not paying for the Extended warranty.
I'm going to call and cancel, right now. :-)
#9
Cancelled it. The guy on the phone called me "dumb" for taking this decision. I was super polite to him and he called me dumb ..lol. At that point I was like "Just cancel it, I've decided, don't over sell it. Its pathetic". What a douchebag!
Let it be known that if anyone here ever receives a letter from "National Vehicle Headquarters" for purchasing extended warranty, even if you want to purchase one, don't go through them.
Let it be known that if anyone here ever receives a letter from "National Vehicle Headquarters" for purchasing extended warranty, even if you want to purchase one, don't go through them.
#10
Super Moderator
It's because the extended warranty is pure profit to the dealership. Still odd that any professional would call a customer 'dumb' to their face. Even with minimal to no maintenance, Japanese cars are still historically reliable. This is why most of us drive Infinitis right. If they weren't then I think the German brands would be much more attractive. What confuses me is that the warranty itself cost about the same for a G37 as it would for a 335 (BMW). That doesn't make sense based on the reliable nature of the G. I wonder how they determine the cost of these warranties??
#11
Registered User
It's because the extended warranty is pure profit to the dealership. Still odd that any professional would call a customer 'dumb' to their face. Even with minimal to no maintenance, Japanese cars are still historically reliable. This is why most of us drive Infinitis right. If they weren't then I think the German brands would be much more attractive. What confuses me is that the warranty itself cost about the same for a G37 as it would for a 335 (BMW). That doesn't make sense based on the reliable nature of the G. I wonder how they determine the cost of these warranties??
I think we established that this was not an Infiniti product so the dealership is not involved.
Truth is, many of these companies are fly-by-nights who hire almost anyone to man their phones. If this is how they behave while trying to keep your business, can you imagine how they would be if you actually had to submit a claim (assuming they were still around!)?
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