Extended Warranty

[Druid]

Owning a well maintained RX- 8 wondering if anyone has taken out extended Warranty? Is it worth it or do I just save my pennies ?If it is any suggestions who with.....it seems I am delaing with insurance companies and there principle is NOT to pay si not optamistic it is a good road to travelWould welcome adviceJ

[Richard Negus]

Hi Druid,Manufacturer's warranties are usually good, providing you stick to their conditions regarding use and service/spares.Insurance 'warranties' are, in my opinion, not worth the paper they're written on. Too many exclusions and get-out clauses,like extended warranties on domestic equipment and, really, they're just another revenue stream for the seller. PPI mis-selling is a prime example.Better to put the money into your own MazdaAccount for that unlikely day when one of the items that is covered by the insurance does actually fail.

[FloridaMike]

Manufacturer's extended warranties: "You're telling me that your cars are such piles of crap that I need to buy an extended warranty?" usually shuts them up. As well it should. It is reasonable to expect that ANY item you pay for will outlive the warranty period, by a lot!Aftermarket extended warranties: Utter and complete scam. On this side of the pond, the US Federal Trade Commission and various consumer protection agencies close them down on a regular basis, fining and sometimes even jailing the principals. (Note to self - ask Pentagon if we can borrow some drones as we are allegedly "winning" in Afghanistan.) Extended warranty scams are one of the top five categories of consumer complaints.I regularly get post cards saying "Your 1973 Dodge Van MAY be out of warranty!!!" (No kidding!) Repairs will be expensive, send us your credit card numbers NOW!!!" I haven't owned this vehicle in over 30 years but that little detail doesn't seem to bother them, they'll still be happy to accept my money.I have seen the coverage (my wife gets these "offers" too), they'll cover "the expensive engine block!" but NONE of the moving parts in the engine or labor to R&R them, all this for only $1,478 a year plus tax and easy monthly payments financed at just 18% on the unpaid balance. (18% is the legal maximum in this state, some states are higher.) Some of them are even worse than that - you have to use THEIR designated repair shop! You can bet you'll get screwed right and proper there.OK, tell ya what, guys, send me your exact GPS coordinates and I'll respond with my credit card details ;-)Target acquired . . . safeties off . . . clear to launch . . . #1 away . . . #6 away . . . #2 away . . .Best Regards,Florida (don't tick me off) Mike

[gripper]

I recently asked a Ford dealer if he would fix my aux input to the car radio whilst it was in for service (and still inside the 3 year waranty) The young buck dealing with me was quick to point out that I had not had the car serviced at the 12 month point and so the warranty was invalid. When I pointed out that the radio would not normally be serviced at all in the schedule, he quickly wound his neck in and funny old thing it was fixed. I believe that most cars sold in the USA have a ten year or 100,000 mile warranty. But then everything is bigger in the States.

[Dell Boy]

18% max. interest!!!!! We have companies in the wonderfull United Kingdom who advertise on daytime television pay day loans with a.p.r. interest rates of over 4,000% Thats not a glitch, 4,000 per cent & our government encourages them. It is trapping the poor in total poverty.Derek F.

[FloridaMike]

We see payday loans here, too. The gub-mint is trying to quash these loans since they do, as you correctly point out, tend to keep the poor in poverty forever.Here's what's interesting (no pun intended) - the payday lenders base themselves on Indian reservations, where many federal and state laws do not apply. Consequently, we have Native-American owned gambling casinos on reservations in states where gambling is illegal, and they do VERY well indeed.The payday lenders have discovered this loophole, too. They advertise on TV and since the interest rate must be disclosed, it is - for about half a second in very small print - and it is 792% per year!Since the "owners" of the payday loan companies are members of a "disadvantaged group", there are tax benefits and incentives to lend them money, and the banks are eager to show how effective their equal opportunity lending policies are. What usually happens is a mainstream lender finds a Native-American on a reservation to use as a "front man" and he applies for the loans under his "disadvantaged group" status. The front man seldom shares in the spoils, however, the profits go to the organizers who are not Native-American anyway.While it seems this might be payback for the shabby treatment the native tribes got, alas, it doesn't work out that way. To this day, many Native-American businesses (especially Seminoles) will not accept a US $20 note because Andrew Jackson is on it - he was the president who ordered the forced displacement of most Indians in the southeast, resulting in the "Trail of Tears", a thoroughly shameful part of America's past, and one which should never be repeated.(Bet you never thought you'd see anything like that on a UK based site about rotary engine motorcycles!)Best Regards,FloridaMike

[Dell Boy]

That was really interesting. I knew about the gambling concession but not the other stuff on the native reservations.Derek F.

[bodgerbloke52]

Florida Mike has it well covered this side of the pond. RV buyers are the worst effected. Due to the complexity and dozens of differing factory warrantees on all the individual outside suppliers the "coverall" extended warrantee even at very high cost is a easy sell. Don't touch extended warranties with a ten foot barge pole. As Richard advises, they are not worth the paper they are wtitten on.RogerSpokane Washington

[johnbirchjar]

I like that bit"So the car/washing machine,/vacume cleaner,/TV ect, is such a pile of crap that I need an extended warrenty?" I'll try to remember it next time I get pestered by a sales person,(I never buy them anyway)ride safe,J.B.