Column: Are extended warranties worth it? Not so much, experts say

Dec 13, 2019 · Column: Are extended warranties worth it? Not so much, experts say. By David Lazarus Columnist . Dec. 13, 2019 5 AM PT . Share; ... Column: Are extended car warranties worth it? Feb. 16, 2021.

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Are Extended Warranties Worth It? Not So Much, Experts Say

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Dec 13, 2019 · A tipster working in the eyewear industry contacted me the other day to warn that the $35 extended warranties sold by LensCrafters, Target Optical, Pearle Vision and other …

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Are Extended Car Warranties Worth It? - Cars.com

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Oct 2, 2024 · In fact, the median extended warranty cost in a MarketWatch survey was $2,500. Some service contracts only cover major powertrain components, while others provide bumper …

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FAQs about Column: Are extended warranties worth it? Not so much, experts say Coupon?

When should you consider an extended warranty?

If you sell your car after five or six years, don’t even worry about getting an extended warranty, according to Edmunds.com's Montoya. Purchasing an extended warranty means, “You’re sort of betting against the car” and if you take care of the car, you shouldn’t have too many issues with it. ...

Are extended car warranties valuable?

Extended auto warranties can be worth it for some consumers. They effectively prolong your factory warranty coverage, protecting you from surprise car repair bills due to factory defects. Additionally, they offer peace of mind and secondary benefits like roadside assistance and rental car reimbursements. You can also pick the level of coverage that fits your needs. ...

What is the difference between a factory warranty and extended warranty?

An extended warranty is optional coverage that you may buy during or after your car purchase. On the flip side, factory warranties come with new (and some used or certified pre-owned) vehicles, with the cost essentially baked into the purchase price. ...

Where can I buy an extended warranty?

You can purchase an extended warranty directly from an automaker or from a third party. When you buy from an automaker at a dealership, you typically have to do so before your new car factory warranty expires. With third-party warranty providers, you usually have the freedom to purchase a plan at any time. ...

Do extended warranty plans cost more?

Yes, extended warranties that last longer are more expensive. A seven-year plan will cost more than a two-year plan. Additionally, an older vehicle or a car with high mileage will require a more expensive warranty. ...

Why do extended warranty companies charge so much?

Extended warranty companies know which cars cost the most to repair and sometimes simply exclude them. They then charge so much for the others there is little likelihood that you will ever get as much money back from covered repairs as you pay in premiums. The third reason is one we wish we could talk every car owner out of. ...