I recently purchased an Altima Hybrid and was offered the 7yr warranty plan for $1500. Is it worth the added insurance considering this is Nissan’s new hybrid?
Absolutely buy the warranty on this car! Shop around for a cheaper reputable warranty company. The hybrid batteries are unproven and your mileage will start dropping around 50-70K miles. Toyota has yet to say what they will do about the failing battery packs in the Camry/Prius. A 7yr warranty is great, but do your homework on what is covered, and do you plan on keeping this car for 7-10years?
We plan to keep the car for at least 8 years. We were told that in the state of CA, the Nissan hybrid components have an extended warranty of 150,000 miles. Thus, the 7 yr warranty plan would cover everything else? What questions should we ask the dealer?
you should ask what, specifically, the warranty covers and doesn’t cover and if you have any kind of deductible on each warranty claim.
NO! Extended warranties are little more than dealer profit. The factory warranty is all you need, whether you buy a standard Altima or a Hybrid.
Save your money!
Put the $1500 in the bank and take a vacation after your hypothetical 7-year warranty runs out.
Well any car can have major expensive repairs. The profit to the salesman and company is usually over 50%. So for every $1,000 you spend the insurance company has less than $500 to pay for repairs or they will loose money, something insurance companies do not do. Some peop;le will get nothing back and some will get a lot more than they pay. Most will get far less. In addition you need to keep in mind that the insurer has worded it to eliminate as many expensive things as they can. Remember that the seller is out to make money and they get to write the rules and set the price. They are not going to sell them at a loss so one way or another they are going to have you pay more than they will pay out. Would you gamble with a car dealer who gets to set all the rules and knows all the odds? Your decision has to do with the value of the piece of mind it gives you. If that is worth the cost then buy it. Don't expect it to cover everything however, most are written to keep cost down and exempt what they know will cost them money.
Since California covers you under the emission warranty I would not buy the warranty. Good luck.