Have you guys (and gals) ever purchased an aftermarket warranty? I got a quote from Direct Buy Warranty for around $1600 to warranty my car up to 100,000 or 4 years (no maintenance or cosmetics).
Seemed like a great deal. What do you think? Have you ever used them?
I would never buy one from other than the manufacturer. Many are worthless. And the manufacturer’s warranties are very expensive for what you get. I think it’s better to put the money in the bank.
Do a search on ‘extended warranty’ in the box to the lower right, you’ll find dozens of discussions.
I don’t think it sounds like a great deal. These things are more about profit for the seller than protection for the buyer. Put your money in the bank and leave it there. You’ll be much better off.
These things are insurance policies. They are written to be very profitable for the insurers. Most purchasers never recover the cost of their premium. (Hmmm… this is true of all forms of insurance, isn’t it?) Anyway, my advice is to put your $1600 in a savings account towards potential repairs.
Savethe $1600 until you get to 100,000 miles. Then take a vacation with whatever is left over.
Mango is currently shopping for an expensive sports car to satisfy his “need.” I have to wonder if he knows anything about the cars, or the warranties, he’s considering.
He’s really worried about which car is “fastest,” as if that matters. Where, in the US, can you legally demonstrate your car’s top speed?
Mango is going to waste a lot of his money. I suggest we stand back and watch.
Personally I don’t think ANY aftermarket warranty is worth it…And Direct Buy is considered one of the WORSE…
Thanks all! @McParadise - ouch! Why the hate? Pretty sure I’m not worried about which car is fastest - just whats most fun for the money.