Extended warranty has it paid for its self?

[FishingDave]

I was thinking about adding an extended warranty for 5 more years to my 2015 cpo , but not sure it worth the 2k. Is it worth it? Has it paid out more then what you paid for it?

 

[clogan2]

Ive bought many vehicles in my 50 years of driving, and I have only bought an extended warranty on one single occaision. In that one instance, it did, in fact, pay off. But statistics show that on the whole, extended warranties do not pay off. Like any kind of insurance, chances are, you wont ever have a claim. But if you ever do, it's nice to have the coverage. Personally, I'm gonna pass on an warranty extension, and assume the risk myself.

 

[Doubeleive]

lol, I bought my 2012 xl denali used with 82k miles and added on a $2k 2yr 20k miles warranty
so far my return on that investment has been about $13k
so ya in my case it has paid out very well.

 

[orchidcrazy]

I never used to buy warranties on vehicles, but with today's vehicles relying on so much technology, both in the vehicle and in the engine, I have revised my thinking on them. The 3 year warranty I bought for my Jeep Grand Cherokee was the first I purchased and it paid off in spades. That Hemi engine, while a beauty when it ran, had more problems than I could list here. It was worked on just about every oil change, had the head rebuilt, and still never ran properly on 8 cylinders - 4 worked fine, but not 8. Just got back into a GMC and bought a pre-owned 16 Yukon with 31K miles on it. Plan on keeping it long term and I like to drive, alot, and have 2 in colleges that are 600 and 700 miles from home. So I got added the max - 7 years and 100K miles so I will be covered until 131K miles...

 

[guy from norcal]

The way GM cuts corners these days. I would say get the warranty.

 

[WTSHARK]

Echoing what Orchid posted- I never purchased an extended warranty on any vehicle I purchased, (new or otherwise)- But all of those lacked the sophisticated electronics the 2015 Yukon XL I bought new in 2015. I used the same salesman I'd used for the last 3 trucks I purchased over 28 years, and when it came time for the option during the sale, he said "look, all of the other trucks you've own had none of this electrical, from the advanced radio systems, computer controlled everything, cameras, etc, the standard "drive-train" warranty was no longer really sufficient. I negotiated a discounted extended warranty (8 years or 120 k miles) which covers EVERYTHING. The odds of mechanical issues are slim, I put around 2500-3000 miles a year on the truck, but the propensity for electronic issues was worth the investment. For the next 6 years, no matter what, my warranty will cover any and all issues. As mentioned, it's insurance, and paying for something we never use is always a bit of bite, but when it comes to needing, it's nice to have it. 2 K for 5 years worth of piece of mind isn't too bad. Consider in 4 years what could go wrong, and think about a simple wire buried deep inside the dash, for something as simple as the parking sensor, the labor alone could be over 2 K, but, if you're comfortable performing the work yourself, may not be worth it. I was at one time able to repair anything on my cars (my last being a 93 Crew Cab C3500, which I highly modified/customized and drove for 22 years), but the technology has changed so much, I have no idea where to go/what to look for on the Yukon- The investment is certainly worth a lively debate with friends, family and chat boards-

 

[KATfishing]

I purchased my 08 Yukon Denali with 84K miles and purchased an aftermarket warranty from ASC through the dealer that sold me the vehicle. It's a 4-year/48K pretty comprehensive warranty covering all major components, seals, electrical, etc. and labor, with no deductible. It cost me $3,115. I have 4K left on the warranty and if nothing else goes wrong in the next couple of months I will have about broken even, but one more thing will put me well ahead because nothing seems to be less than a $400 repair these days, even on the small stuff. My front differential replacement was the largest warranty claim. Had there been transmission or anything, I would be in a safe zone with the warranty. It makes me nervous to see it close to expiring but I also believe it's helped me address issues through the 100K phase (now 128K) to hopefully be ready for another 100K. Often you can negotiate the price of these warranties and work it to your advantage.