Originally Posted by molina67
So I asked a buddy of mine who owns three repair shops if the extended warranties are worth it and he told me that they are not. He said that the people who you buy the warranty from will fight tooth and nail to pay, and that whatever the warranty does not cover as far as repairs the owner has to pick up. For instance if...
Repair cost = $1500
Warranty company agrees to pay $1000
Customer has to pay $100 deductible plus remaining $500.
He went on and said you are better taking the $2000+ and put it in the bank and let it draw interest until you need it. I have the advantage that this is a good friend of mine and most of our business is done in trade as I own my own embroidery / gift shop. For what it's worth that's my two cents.
Okay so even though my buddy owns three repair shops and everything we do is bartered, I have another mechanic buddy of mine (who manages one of the shops and is a certified Chrysler mechanic) tell me that the warranty was the way to go because of all the technology and electrical components in these trucks. I was tossed because I plan on keeping this truck until it gets rid of me... So I went ahead and purchased the lifetime warranty for $2250. Helps me sleep better at night.