The 'Savings Angel' talks extended warranties on new car purchases

News 6 At Nine welcomes the "Savings Angel" Josh Elledge to discuss whether getting an extended warranty on a new car is a good idea.

[@elliott3991]

3rd party usually shaft you and like to not pay. Carmax pretty decent, or the oem (-manufacturer ie ford warranty / ford gold certified PO

[@hollisconant2566]

please prove your a consumer expert where did you go to school

[@crackerbarrel6965]

No such thing. You can’t “extended” an auto manufacturers warranty. No auto manuafacturer will extend a warranty. It’s simply third party insurance to cover repair bills outside the original warranty. “Extended warranty” is simply a marketing ploy.

[@dayavery4156]

Who is this dude… fake news..

[@nutritioncoachjo]

Fake news? What does that even mean regarding extended warranty's. I've watched many videos and most people say the exact same thing as this guy. Put the money you would pay for the extended warranty in an interest bearing account and if you need it, it will be there for you and if you don't, well you just saved yourself $4,000. That was the cost of the plan they were trying to sell me on my brand new car. Fake news! Good grief!

[@user-tb7rn1il3q]

@@nutritioncoachjoIt’s rare for an extended warranty to pay out even if someone breaks. People are very low IQ and easily talked into this crap.

[@eskieman3948]

@@user-tb7rn1il3q I disagree. Every extended car warranty that I've purchased has paid off handsomely - I've always been ahead of the $game$ by purchasing it (and these were for TOYOTAs). The key points to consider are 1) How much?, 2) Who honors the warranty?, and 3) How long are you going to keep the car? If you can get a FACTORY bumper to bumper warranty for a decent price (for example, I recently bought a factory warranty for my car for 10years/100k miles/$0 deductible for $2350), and you plan to hang on to your car for 7 or more years, go for it. If not, you may want to reconsider buying one, especially if it's NOT a factory warranty, there are significant limitations on what the warranty covers, and you only hang on to your car for 3 - 4 years.

[@andreawilliams4227]

I was paying for a warranty on my BMW..absolutely everything that failed and had to be replaced was NOT covered by the warranty!🫤

[@eskieman3948]

Well, now, you obviously didn't read your "warranty" over before you bought it, did you?

[@andreawilliams4227]

@eskieman3948 yes, actually I did..however had no control over the parts that failed and those that did not.. basic wear n tear parts but still Hella expensive particularly with the labor involved..