Miles said:
Benard said:
Miles said:
Benard said:
Miles said:
Benard said:
Miles said:
Benard said:
Miles said:
BillSmith said:
I’m getting close to 36,000 miles on my used Kia. Once I hit that, the warranty on the car’s infotainment system will be over. If this system breaks, it could cost me a lot to fix.
This includes things like the backup camera, sensors, display screen, GPS, NAV system, blind spot sensors, Android Auto access, and radio.
Should I spend over a thousand dollars on the extended warranty that covers these parts?
How likely is it that this system will break?
They wouldn’t sell extended warranties if they didn’t make money from them.
Dealers make the most profit from warranties.
That’s true, but when you need the warranty, you’re glad to have it.
It’s IF, not when.
About 50% of people who buy extended warranties end up using them. With all the electronics in cars these days, the chances of needing it are higher. Replacing the infotainment screen on my Sportage would cost over 3k at the dealership, which is more than I paid for the warranty.
Here are some real numbers. Of the 47% of people who buy extended warranties, only 10% actually use them.
Your experience doesn’t mean it’s common. Most people pay way more for a warranty than they ever get back in repairs. Warranty companies wouldn’t exist otherwise.
Source: https://www.consumeraffairs.com/automotive/auto-warranty-statistics.html#:~:text=Only%206.3%25%20of%20people%20have,less%20than%20the%20warranty%20cost.
Another source: https://www.lithia.com/research/auto-warranty/pros-and-cons-of-extended-warranty.htm#:~:text=Speaking%20of%2C%20only%2047%20percent,ever%20used%20their%20service%20contract.
Relax, man. No need to get upset when someone disagrees with you. You seem like someone who likes to copy-paste stats. Here’s something for you:
“According to a survey by Consumer Reports, 55 percent of people who bought an extended warranty never used it, and only 25 percent would buy one again.”
https://www.caranddriver.com/research/a32878888/extended-warranty-for-car/
The Consumer Reports article they used doesn’t even have the numbers you quoted.
I said roughly 50% use extended warranties. The article says 55% never used it. You do the math.
The article you’re pointing to doesn’t back up the numbers. I’m giving you data from actual research.
If you say so. At the end of the day, warranties are like insurance. You hope you never need it, but when you do, you’re glad you have it. With all the electronics in cars now, I think it’s worth it for that alone, not to mention powertrain coverage.