Extended warranties on used cars????

[Chickpea]

I need advice - we now have over 77,000 miles on one of our cars (a 2000 VW passat) and it is paid for and we would ideally like to drive it for another 5 years or more if we could. But we have had some minor issues with it in the past. I know next to nothing about cars and am curious about extended warranties - got a call from a place offering us a 48 month/48,000 mile comprehensive coverage on all engine, parts, etc... seems legit - I have done my homework and checked them out. Cost for this sevice is $3600 - yikes! I know if we decide to buy this we will never need to use it AND if we decline it, we will have a use for it - but can others please share some advice??? How does one determine if this is worth it?
Would appreciate any help. Thanks

 

[chrisv]

I wouldn't even consider a third-party extended warranty, especially if it was pitched to me in a 'sales call.' The only ext-warranty I might buy would be a VW-Branded, VW manufacturer-backed one, and even then I'd be wary.

I've had many VW's and Audi's, still wish I had the 1999 Passat we sold to 'upgrade' to an SUV. If I were you, I'd start a savings account with that $3600 and use it for repair emergencies. When you do need service, call Dean Lee at VeW Specialties in FWB, he's the best VW mechanic I've found. Honest and acurrate, he's worked on my VW's the few times I've needed service. PM me for his contact info.

 

[Kurt]

Great advice Chris.

Chickpea - absolutely not. You can replace the whole engine for that amount. Or make a nice downpayment on a new or used car.

77,000 miles on a car is not much to worry about these days. Even a 2000 model, although I'm not real familiar with VWs I don't think Germans will allow themselves to build crappy cars.

 

[Cheering472]

They are selling that for their profit not yours. No no no...I'd save the money and if something happens pull it out of savings to cover the repair expense.

 

[Smiling JOe]

Ditto Chrisv's remarks about third party warranties, esp from a sales pitch. My guess is that $3600 will get you a brand new transmition plus some, if the need ever arose. I would save the money and make sure that you are having it serviced as recommended by the factory, paying special attention to the timing belt replacement recommendation. Belts oxidize and wear over time. Keep the oil changed regularly, etc. That will probably be money better spent. I bet you could easily expect to get 200K miles out of that Passat.

 

[Mermaid]

Chickpea, 77K miles is nothing to worry about especially with a VW. I recently sold my '93 Ford Explorer with 130K miles on it to my son and he hasn't needed to do anything more than get a $50 alignment on it. It still has plenty of life left in it. I now drive Merman's '98 Dodge Durango with 120K miles on it and it runs like a top. I'll probably be able to squeeze at least four more years out of it. In all the years we've had these two cars, we've never spent more than $500-600 on individual repairs at any one time. I seriously doubt you'd come anywhere close to spending your money's worth on that warranty, so as everyone's said, steer clear!! It reeks of profit--and not yours.

 

[OhioBeachBum]

Great advice Chris.

Chickpea - absolutely not. You can replace the whole engine for that amount. Or make a nice downpayment on a new or used car.

77,000 miles on a car is not much to worry about these days. Even a 2000 model, although I'm not real familiar with VWs I don't think Germans will allow themselves to build crappy cars.

Given what da Germans be chargin' for this particular model, ought to run for the life of the owner ;-)

 

[30A Skunkape]

And sometimes those warranties are limited and impractical as to where the vehicle can be serviced, what is covered, etc. I think they are about as good a deal as Stainguard on your new furniture, which is to say, a scam.:roll:

 

[steele mama]

Y'all are so smart! What they said.

 

[Bob]

Great advice Chris.

Chickpea - absolutely not. You can replace the whole engine for that amount. Or make a nice downpayment on a new or used car.

77,000 miles on a car is not much to worry about these days. Even a 2000 model, although I'm not real familiar with VWs I don't think Germans will allow themselves to build crappy cars.

Check your VIN....if the car was made in Mexico, you are the lucky first owner. Dump it now! If the car was built in Germany, I would keep it....with this caveat, if you have the 1.8L turbo, I would sell or trade. A pressurized gas engine is usually not long-lived. VW has reported numerous 1.8L owners have problems with engine oil gelling. New motor on that car is 6K at the dealer, plus the warranty company will say you did not change your oil often enough unless you have all your records.