Hello all,

I just purchased a 2005 6-speed RX-8 with 25K miles on it. The dealer is offering an extended bumper-to-bumper warranty for 4 years or 48K miles at a price of $2K. The warranty appears to cover everything but normal part wear (belts, tires, etc.) and cosmetic damage.

In your opinion, are extended warranties a good investment, or a waste of money?

Thanks in advance. I'm loving my new baby!

 

i bought the extended bumper to bumper and its a good thing i did, its already paid for itself in the road hazard department...i have had my tires replaced about 8 times for picking up nails....
so for me personally, it was worth the investment!!
congrats on your new baby

 

You car comes with a 4 year, 50K bumper to bumper warranty from the date of original sale. Automatically transfers to the new owner.

So...is the dealer selling you 4 years 48K additional, beginning from when the original 4 years, 50K bumper-to-bumper expires? Or 4 years, 48K from today, so you're only getting 3 years and 23K beyond the factory warranty? Or (my guess) are you getting nothing?

On average, extended warranties are a bad deal. Why else would everyone selling you a product push so hard to sell you an extended warranty?

BTW - your car also has a factory power train warranty for 5 years, 60K, and an engine warranty for 8 years, 100K.

Ken

 

My extended has paid for coils twice, and a $2400 ABS nightmare. It has also paid for the rental when my third engine was put in at 95k.

 

ken,

are you sure?

i recall it being a 3yr 36k mile b to b warranty. 4yr 48k mile power train warranty, extended to 5yr 60k miles..

the motor is now 8yr 100k miles..

to the op. the power train covers what is likely to fail and or be expensive..


beers

 

I've never been a fan of extended warranty on anything. Some people are just the opposite. Mazda dealerships are notorious for finding ways to void warranty work if you do any mods to your car during that time.

 

The extended warranty is something the dealer will purchase on your behalf, and take a cut of the cost. You'd be better off buying the extended warranty yourself and cut out the middle man.

 

was not worth it when i bought mine they wanted to charge me more than my payment a month...so I passed....

 

Through '06 the B-B is 4 years, 50K. It went to 3 years, 36K in '07. Not sure if anything happened to the power train warranty in '07. VFX has an '05, so what I put in my post applies to his (her?) car.

I'd still like to see the answer to what I asked. It can change the offered extended warranty from the usual not worth it to absolute ripoff.

Ken

 

My extended warranty was 2500.00. More than your monthly car payment?

Like I said, My extended has paid for its self.

 

The original factory warranty had already expired (from time, not mileage), except for Mazda's extended engine warranty. The dealer was offering a 4-year/48K mile bumper-to-bumper warranty for $2K starting from when I bought the car.

After doing some research online I felt that the extended warranty was probably not a good investment for me. I became very skeptical after reading about the warranty service approval process and the fine details of what would not be covered. It seems that the company behind the extended warranty service is not entirely reputable, and I came across many horror stories of refused claims and protracted claim resolutions. I'd rather put the money toward some good modifications instead.

My main concern is the engine, which Mazda is covering with its extended original warranty.

Thank you to all who replied.

 

Kudos to doing your research. My philosophy has always been -- only pay to insure the things that you can't afford to replace. You'll win some and lose some but in the long run you're better off. That, and as you've found some extended warranty companies make their profit by screwing their customers on claims. Enjoy your $2,000!

 

hey, i had a similar question to the OP:

I have a 2005 (i am the original owner) whose warranty expired in 2/09. Mazda is offering me $2700 for 4 years/48k or $2100 for 3 years/36K...seems like $700/yr when you prorate it out. I have 41K and car has been running great. THe service lady is very nice and trustworthy (seriously, i know it sounds weird, i don't trust the others) and strongly recommended it with the high expense of the 8. what do you guys think? will i spend more than $700/yr on average? after 41K, if the 8 has had little problems, do they typically start to hit a wall with problems in the 50's, 60's? this is my key question! Thanks!

 

I know I wouldn't go for that.

Ken