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Old 03-06-2008, 04:12 PM   #1
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2006 VUE 3.5L
Default Extended Warranty Worth It???

Hello everyone!

Just wanted to get feedback and your opinions regarding obtaining an extended warranty. Our used (new to us) 2006 Saturn Vue has about another 6,000 miles left before the basic GM warranty expires. During the close of the sale, the finance manager was trying (very hard no less) to convince me to buy into their extended four (4) year warranty beyond the basic coverage. They wanted $1,550 for this.

I passed on this initially, basing this on what I've learn and heard relative to this topic matter. It's basically an extended service contract of sorts. Rarely 'pays for itself, particuarly if, in our case, we plan to get rid of the Vue in about four (4) years.

We're betting that with regularly scheduled maintenance, as recommended by Saturn, coupled with their general good reputation for building quality vehicles, we'll come out ahead by NOT purchasing the extended warranty.

This said, our former 1988 Mazda 626 turbo sedan required a totally NEW transmission. Lucky for me, this happened 'only' a few months AFTER our initial basic four (4) year warranty expired. Paid the piper to the tune of over $4K for the new tranny job.

Again, just interested in hearing your thoughts along these lines. Many thanks in advance!

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Old 03-06-2008, 04:15 PM   #2
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Default Re: Extended Warranty Worth It???

buy factory ext warr then they are a good deal. not aftermarket
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Old 03-06-2008, 04:23 PM   #3
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Default Re: Extended Warranty Worth It???

Consumer Reports looked at this question in their latest issue. Only 22% of the people who buy extended warranties get all their money back in terms of repairs. The ratio is better for less reliable vehicles, though, and the VUE appears to be such a vehicle.

What the warranty will protect you from is an unlikely but always possible major repair. Depends on how much avoiding bad luck is worth to you.

One thing to realize is that the warranties include large dealer margins. If you shop around, you might find a dealer that will charge less, even much less.
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Old 03-06-2008, 06:33 PM   #4
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Default Re: Extended Warranty Worth It???

Quote:
Originally Posted by mkaresh View Post
Consumer Reports looked at this question in their latest issue. Only 22% of the people who buy extended warranties get all their money back in terms of repairs. The ratio is better for less reliable vehicles, though, and the VUE appears to be such a vehicle.

What the warranty will protect you from is an unlikely but always possible major repair. Depends on how much avoiding bad luck is worth to you.

One thing to realize is that the warranties include large dealer margins. If you shop around, you might find a dealer that will charge less, even much less.
Does your VUE data separate the reliability of the VUE whether or not they have the V6 or Ecotec power plants?
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Old 03-06-2008, 08:09 PM   #5
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Default Re: Extended Warranty Worth It???

Check the fine print, there are many items not covered.
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Old 03-06-2008, 09:06 PM   #6
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Default Re: Extended Warranty Worth It???

get factory service contract. then you dont have to worry. if its trim or maintenance its not covered. everything else is, gmpp or ssp
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Old 03-07-2008, 12:52 PM   #7
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2007 VUE 3.5L
Default Re: Extended Warranty Worth It???

You can buy an extended warranty contract up until the factory warranty expires (3yrs, 36000 miles). I typically wait to see if I bought myself a lemon before spending $1,700 on something I will never use.

My 2004 Vue got to 36000 without a hitch, so I opted not to buy one. My current 2007 only has 8,500 and I'm still waiting for the 1st problem to pop up, so far so good.
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Old 03-07-2008, 03:34 PM   #8
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Default Re: Extended Warranty Worth It???

if you buy one do it before 12000 miles or the price is much higher
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Old 03-07-2008, 04:56 PM   #9
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Default Re: Extended Warranty Worth It???

Here's a better option:

Take that $1,500 (or whatever individual warranty costs for the vehicle at hand) and invest it in a money-market or similar intrest-drawing account with CHECK-WRITING PRIVILEGES. Let it earn five or so percent for you while you're not having any problems and then draw on it as needed to deal with any issues that come up.

That's a far better solution for all but the most extreme repairs.
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Old 03-08-2008, 01:46 AM   #10
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Default Re: Extended Warranty Worth It???

Quote:
Originally Posted by 1FUNSUV View Post
.....Our used (new to us) 2006 Saturn Vue has about another 6,000 miles left before the basic GM warranty expires. .....we plan to get rid of the Vue in about four (4) years.

......
You've been racking up the miles...I am approaching 10k for mine (2006). So, if you are nearing 36k, and you purchase a 4 year extended warranty, how many miles is that coverage good for (I assume it isn't unlimited miles)? Given your runup in mileage, I bet you'd only be getting a two year warranty, not four years. Bummer about your Mazda, but most cars ought to make it to 5 yrs., without issues. The only big issue that has cropped up with the Vue is the VTI, which you don't have...the rest of the issues are minor (bushings, caliper pins, strut mounts). If you make it to 100k, then you have a grand bill for maintenance on the engine, and the brakes may need some work. The only wild card is the BCM, which seems to hit folks like a lottery. But, that is only a $700 tab or so...far less than your extended warranty tab.

I wouldn't bother...if you are religious about maintenance, and nothing has cropped up yet, I'd save my money.
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Old 03-08-2008, 10:32 PM   #11
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Default Re: Extended Warranty Worth It???

Quote:
Originally Posted by mellissam View Post
I wouldn't bother...if you are religious about maintenance, and nothing has cropped up yet, I'd save my money.

Thank you ALL for your considerable experience and thoughts, both pro and cons, with respect to the extended warranty issue. You can be sure we'll be weighing all the facts, coupled with our own personal situation at hand, when rendering a final decision on this.

But I'm leaning towards not extending, because I do tend to follow the manufacturer's strict maintenance guidelines and I also believe the late years Saturn models will be (hopefully) more reliable and well built. It's a calculated risk for sure. Okay, many thanks again all! Your feedback has been most appreciated!!

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Old 03-09-2008, 10:33 AM   #12
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Default Re: Extended Warranty Worth It???

If you decide to buy an extended warranty DO NOT BUY FROM FACTORY/DEALERSIHP. This is the most expensive place and sometimes locks you into having repairs done at the dealership. There are some good reputable extended warranty companies on the net. It is much cheaper from these companies and usually you can go to the dealership or any other authorized mechanic for repairs. My wife and I have previously had warranty by net. No problems at all from them.
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Old 03-09-2008, 02:45 PM   #13
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Default Re: Extended Warranty Worth It???

exactly the opposite of what my 26 years in the car business tell me. number one reason a customer wont buy a warranty is because they have had an after makret warr and it didnt cover anything. not saying that there arnt some ok companies out there but none match factory warranty an no they arnt more expensive. but dont beleive me ask someone who knows. pick a service writer from anywhere and ask them they deal with it every day
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Old 03-09-2008, 04:35 PM   #14
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Default Re: Extended Warranty Worth It???

Why I don't buy an extended warrenty: "Consumer Reports surveyed 8,000 of its readers about extended warranties purchased on new 2001 and 2002 vehicles. About two-thirds of them said the extended warranty did not pay off. The extended warranties cost on average $1,000, but only provided an average benefit of $700. Forty-two percent of the people in the survey didn't use the extended warranty at all, mainly because they didn't need repairs or because the manufacturers' standard warranty covered the repair. Consumer Reports says your best bet is to buy a vehicle with a good record of reliability, so that you can skip the extended warranty. "
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Old 03-09-2008, 06:46 PM   #15
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Default Re: Extended Warranty Worth It???

I have put approximately $700 dollars into my Ion since I bought it ~20k miles ago, last July....

I let everyone talk me out of buying the extended warranty, but it would be more than half paid for now.

My next car WILL have an extended warranty, I do too much driving, a lot of wear and tear on my cars.

I agree with someone, it's like insurance...

I believe that it will pay for itself somehow, even just for the piece of mind, in my opinion
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Old 03-09-2008, 07:51 PM   #16
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Default Re: Extended Warranty Worth It???

same as life insurance you buy it but hopefully dont plan on using it too soon. it is insurance. of course the odds are against you as an average. its called profit. id say most people get rid of the car before the warranty is up and even though they get a pro rated refund they dont generally come out ahead. if you buy 100k warranty as ive done on my cars since 1990 and keep the car its tough to come out behind. things happen
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Old 03-09-2008, 08:23 PM   #17
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Wrench Re: Extended Warranty Worth It???

Quote:
Originally Posted by Ranger762 View Post
Here's a better option:
Take that $1,500 (or whatever individual warranty costs for the vehicle at hand) and invest it in a money-market or similar intrest-drawing account with CHECK-WRITING PRIVILEGES. Let it earn five or so percent for you while you're not having any problems and then draw on it as needed to deal with any issues that come up.
That's a far better solution for all but the most extreme repairs.
If you do that with all your extended warranties, you should come out on top.
Whe you buy an extended warranty [EW], you are paying for a lot more than the average repairs to the item in question. After you pay comission, dealer profit, payroll at the warranty company, and paperwork fees ... whatever is left over goes into a fund to pay for repairs for all the EW holders.

If you take that EW money for all your stuff, pool it and actually have an emergency fund, you will come out on top in the long run.
EWs mostly get sold by rolling their cost into the auto loan, and stretching out the payments ... paying $1500 over the term of the loan doesn't change the payment much, and as a bonus [for the finance company] it means you pay more interest in the long run.
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Old 03-10-2008, 12:33 AM   #18
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Default Re: Extended Warranty Worth It???

Quote:
Originally Posted by 1FUNSUV View Post
Thank you ALL for your considerable experience and thoughts, both pro and cons, with respect to the extended warranty issue. You can be sure we'll be weighing all the facts, coupled with our own personal situation at hand, when rendering a final decision on this.

But I'm leaning towards not extending, because I do tend to follow the manufacturer's strict maintenance guidelines and I also believe the late years Saturn models will be (hopefully) more reliable and well built. It's a calculated risk for sure. Okay, many thanks again all! Your feedback has been most appreciated!!

BEST REGARDS

Ultimately the decision is yours 1FUNSUV. Since it was mentioned that it was a used vehicle, were service records provided for all the service it's had so far? I know there are some people that do not keep records but some people are anal about keeping them. I keep all my service records in the glove box for example. If provided, and you have a known good history of service then you may be fine. Even with the fairly low mileage on the odometer now, if the previous owner was neglectful then an extended warranty may be a good idea. It doesn't matter how reliable a vehicle is if the owner(s) were neglectful and/or abusive.
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Old 03-10-2008, 04:15 PM   #19
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Default Re: Extended Warranty Worth It???

Quote:
Originally Posted by Bunshaw View Post
Ultimately the decision is yours 1FUNSUV. Since it was mentioned that it was a used vehicle, were service records provided for all the service it's had so far? I know there are some people that do not keep records but some people are anal about keeping them. I keep all my service records in the glove box for example. If provided, and you have a known good history of service then you may be fine. Even with the fairly low mileage on the odometer now, if the previous owner was neglectful then an extended warranty may be a good idea. It doesn't matter how reliable a vehicle is if the owner(s) were neglectful and/or abusive.
yes, our purchase did come with ALL previous service maintenence records. in fact, this WAS something I absolutely had insisted on prior to purchasing. we believe in the benefits of preventative maintenance and adhering to the manufacturer's service recommendation and intervals, both for warranty purposes, as well as general safety and peace of mind. knowing the car was well taken care of helped us tremendously in making our ultimate decision to buy.

also, this is the other reason why we're leaning towards not signing up for the extended warranty. again, it's taking a calculated risk that, with continued maintenance going forward, we'll likely avoid a lot of problems down the road, thereby saving $$$s. still, there's always that "murphy's law." face it, stuff happens in life that's beyond our control sometimes.

we're still smarting from our old Mazda transmission replacement job. did the full maintenance thing to the "T". Everything running great. Then, the warranty expired. Then, a few months after this, needed a new transmission, costing $4,000!! But that was over ten year ago. Hopefully, Saturn, Honda and GM makes better and more dependable products with their newer model vehicles. Yeah, that's what we're betting on -sort of. Many thanks again ALL for sharing your feedback and experiences. They've all been enormously candid and beneficial.

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Old 03-10-2008, 04:26 PM   #20
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Default Re: Extended Warranty Worth It???

its a gamble either way. sometimes you win sometimes you lose. most customers cant afford to pay to fix there car so its an easy choice for them. on new cars about 50 percent take warranty longer than 36/36.
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