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Old 08-15-2012, 10:30 PM   #15
red_dragon
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No, it's just pure profit for the dealers. Best Buy does the same thing for electronics. Only suckers purchase it. Have a little more faith in your purchase/brand.
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Old 08-15-2012, 11:15 PM   #16
miguelr
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I always wanted to be like:

them: Would you like to purchase an extended warranty?
me: Are you implying your product is a PoS?
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Old 08-15-2012, 11:38 PM   #17
JYx
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How do you go about canceling/returning the extended warranty?
I purchased my car not too long ago with the extended warranty and I'm starting to regret it after reading this post....
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Old 08-16-2012, 12:09 AM   #18
Nearsite00
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Ok so here is an update. I went back to cancel the extended warranty and they offered to lower it to 1300, so I kept it and have 60 days to cancel. I can also cancel at any time and get a prorated refund.

The warranty is through VW and I can use any VW dealership as well as get a replacement car if my car ever needs repair. I did just purchase the car new at a bay area dealership for 28K OTD with 0 down and 0% financing. It added $16/month to my monthly which is $488/month total which includes the extended warranty.

I'm still really on the fence at this point, not sure if I want to keep it or cancel it.....
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Old 08-16-2012, 01:39 AM   #19
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Quote:
Originally Posted by Baldeagle View Post
I guess the biggest question you must ask is what is the probability you will encounter a mechanical problem that costs more than $1,500 in the 4 years after your 3yr/36K B2B expires? Of course this provides you do not exceed the mileage limitation. Also, what does a similar warranty cost from a competitor?

Without the warranty, would you trade in the car after four years? If this $1,500 extended warranty permits you to keep the GTI for seven years, it may save you the cost of extra depreciation on that next car. But that is hard to estimate.

If you intend to keep the car for seven years, I do not think it would be a bad financial decision. But with any type of insurance, there is cost for peace of mind.
Just to chime in, if the car is sold before the warranty is up, they'll refund the balance.
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Old 08-16-2012, 08:19 AM   #20
Baldeagle
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Seven years is a long time. How many cars does anyone know that went for four years after the B2B ended with ZERO problems? Even the most reliable cars generally have one or two minor issues that cost about $300 per repair (two hours of labor and $100 for parts). And as much as we all love our GTIs, we all know they are not THE most reliable cars on the road.

So realistically you will probably spend at least $600 for repairs in years four through seven. If this $600 assumption seems reasonable and those expected repairs are fixed for free under your extended warranty, doesn’t that reduce your net cost from $1,300 to $700? The odds are extremely high you will get some use out of it.
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Old 08-16-2012, 08:48 AM   #21
elwood
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I bought an extended warranty because I plan to keep the car 5 years and I do about 20,000 miles per year. My warranty goes to 100,000 miles. Since my previous VW, many many years ago, had many expensive things go wrong, I am sure that over the 5 years, I will save money. And if I don't, for a few bucks a month, I have peace of mind.
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Old 08-16-2012, 09:13 AM   #22
dreamxrik
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You can get stuff like this thru your auto insurance too...

I have extended coverage thru geico
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Old 08-16-2012, 10:01 AM   #23
Shini
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Quote:
Originally Posted by Baldeagle View Post
Seven years is a long time. How many cars does anyone know that went for four years after the B2B ended with ZERO problems? Even the most reliable cars generally have one or two minor issues that cost about $300 per repair (two hours of labor and $100 for parts). And as much as we all love our GTIs, we all know they are not THE most reliable cars on the road.

So realistically you will probably spend at least $600 for repairs in years four through seven. If this $600 assumption seems reasonable and those expected repairs are fixed for free under your extended warranty, doesn’t that reduce your net cost from $1,300 to $700? The odds are extremely high you will get some use out of it.
Yeah but how many of those problems wouldn't have been covered by the powertrain?

Does the OP plan on keeping the car 7 years?

I bought the wheel/tire protection, and something that included rental car coverage...it was originally like $5/mo for them to add it, negotiated down to .50 cents. Cost more to have rental coverage on my insurance with esurance and I get the added benefit of the wheel/tire protection. Score.

Always negotiate that stuff, play hard ball, if it seems like it's a lot, and it's something you can get through your insurance company anytime you want, or can be bought later, I wouldn't do it unless the deal is just REALLY juicy..
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Old 08-16-2012, 10:07 AM   #24
ElectricEye
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Originally Posted by red_dragon View Post
No, it's just pure profit for the dealers. Best Buy does the same thing for electronics. Only suckers purchase it. Have a little more faith in your purchase/brand.
Yeah, but electronics are electronics.
They are not composed of multitudes of moving parts.
They pretty much either fail or they don't.

Cars can have suspension issues, electrical issues, exhaust issues...
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Old 08-16-2012, 10:11 AM   #25
ElectricEye
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Quote:
Originally Posted by Baldeagle View Post
I guess the biggest question you must ask is what is the probability you will encounter a mechanical problem that costs more than $1,500 in the 4 years after your 3yr/36K B2B expires? Of course this provides you do not exceed the mileage limitation. Also, what does a similar warranty cost from a competitor?

Without the warranty, would you trade in the car after four years? If this $1,500 extended warranty permits you to keep the GTI for seven years, it may save you the cost of extra depreciation on that next car. But that is hard to estimate.

If you intend to keep the car for seven years, I do not think it would be a bad financial decision. But with any type of insurance, there is cost for peace of mind.
Don't forget, if one problem happens shortly after another.
I've owned used cars that I'd drop $300.00 on one month, $500.00 two months later...
A couple of costly failures can get you to $1500.00 in no time.
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Old 08-16-2012, 11:33 AM   #26
Nearsite00
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Originally Posted by ElectricEye View Post
Don't forget, if one problem happens shortly after another.
I've owned used cars that I'd drop $300.00 on one month, $500.00 two months later...
A couple of costly failures can get you to $1500.00 in no time.
One of the issues I see is that there is a $100 deductible for each issue, which indirectly jacks up the price of the warranty.
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Old 08-16-2012, 11:44 AM   #27
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Yeah that's not so great. If it was 100,000 miles it would be a decent deal.
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Old 08-16-2012, 11:47 AM   #28
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It will either pay for itself down the road or it won't, obviously if companies continue to sell them they are usually on the winning end.

If you do cancel it though don't expect to see the money, VW will send a pro rated check to your finance company and they will take it off your balance, so you would make 3 less payments if you pay 500 bucks a month (minus whatever they take for the few weeks you use it).
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