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Regular_John · 03-30-2014, 02:15 PM

Posted this in the negotiating a used car thread, but it's not getting much traction over there.

So CP, what's your experience/opinions on extended warranties on a used car?
We're looking at a 2012 Mazda2 with 51,000km. The price of the warranty/protection plan is about $1,200-$1,500. The car has 1 year left the original factory warranty, so we'd be adding 4/5 years onto that depending on which one we get.

In the past my opinion has always been that extended warranties (particularly on electronics) is fairly poor investment. But when it comes to auto-repairs it's not hard to wrack up $1,500 when something goes. Even two minor problems in 5 years time would hit $1,500 pretty easily.

So are used car warranties as useless as a best buy protection plan, or is there some merit in purchasing them?

03-30-2014, 02:15 PM	#1
Regular_John First Line Centre Join Date: Feb 2010 Location: Calgary Exp:	Extended Warranty on used cars, Yah/Nay? Posted this in the negotiating a used car thread, but it's not getting much traction over there. So CP, what's your experience/opinions on extended warranties on a used car? We're looking at a 2012 Mazda2 with 51,000km. The price of the warranty/protection plan is about $1,200-$1,500. The car has 1 year left the original factory warranty, so we'd be adding 4/5 years onto that depending on which one we get. In the past my opinion has always been that extended warranties (particularly on electronics) is fairly poor investment. But when it comes to auto-repairs it's not hard to wrack up $1,500 when something goes. Even two minor problems in 5 years time would hit $1,500 pretty easily. So are used car warranties as useless as a best buy protection plan, or is there some merit in purchasing them?