Car Warranties

[Moh]

I was considering gettin a warranty for my Gen 7 Celica. It's done 53000 miles and is now 7 years old. Do you all think it's worth getting or is it just a waste of money?

Has any1 got one...if so how much and from where...and has any1 had any good or bad experiences of car warranties worth sharing?

Thanks!

[sotal]

in my opinion they are a waste of money unless you really expect something is going to go wrong - in which case you should sell it!

Just setup a savings account and a standing order type payment from your main bank account to the savings account once a month for the same amount as the warranty would cost, then use the savings to pay for repairs - I did this about 5 years ago and it's always left me with more money in it than I've spent, and I use it to buy all bits for the cars including oil filters etc which a warranty wouldn't pay for

[Parts-King]

Just setup a savings account and a standing order type payment from your main bank account to the savings account once a month for the same amount as the warranty would cost, then use the savings to pay for repairs - I did this about 5 years ago and it's always left me with more money in it than I've spent, and I use it to buy all bits for the cars including oil filters etc which a warranty wouldn't pay for

I agree and thats fine for you, however, the MAJORITY of customers I deal with just would not have the discipline to put money aside, I'm not being derogitory in saying that, just stating facts. They are youngish families that have to budget for every eventuality. Extended warranty is great for those who want the peace of mind without a bill leaping out at you. Martin Lewis the money saving expert will be squirming at this point, you do have to be very strong, and not to spend the money on some other emergency. They are not for everybody, but they are a lifeline to some. Just remember if you do put money aside, say £40 per month, and a big job did arise, you would have to find the capital to pay the bill early on in your saving fund, not something everybody has

Kingo

[sotal]

I agree about the fact that if you are unfortunate straight away, but you've got to start sometime and it's better than not having the warranty and not having savings for it