Quote:
Originally Posted by Matticus91
Well that's really the core of it then - anyone not driving their car as much would be less likely to experience issues, that's common sense. If you DD'd the car, running up 20k+ a year, that 60k worth of miles over 3 years would be a whole lot more likely to produce a notable and costly problem. Especially considering that since your car was just out of warranty, you're most likely looking at around 50k miles right? So 50k + 20k in the first year puts you at 70k, a proven "issues time" for these cars. Then you'd be beyond 100k in the third year.
It's all about return value, I think we agree on that. For someone who doesn't drive their car much it makes less sense. For someone who puts 20k+ miles on the car every year, it makes a world of sense.
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The 1M in question even now has less than 30K miles, and I've owned it for a year and a half at this point . . . . I won't drive it again until the spring as it is in snow country and has only MPSS tires.
And yes, it makes no sense for ME to buy an extended warranty given my stable of cars and the low amount of mileage that any of them accumulate in a year.
None of this negates my earlier comments; some may come out financially on an extended warranty, however taking the entire pool of similar cars out there, the company selling the extended warranties will normally make money, otherwise it would either go out of business or have no reason to be in business in the first place. This does not mean that I don't think it would be a reasonable decision to buy such a warranty for certain people. And of course, it is not my decision to make! This is a free country!