Extended warranties: What would you do?

[Kelleyo]

On June 24 my warranty coverage will end (4 years 50K miles). At that point I will have 12 payments remaining (about 9K). I assume the car is worth more than that (12 to 14k?).

The question is do I purchase the extended warranty coverage? 2 years and 25K miles would be $1765 for example.

Trade her in on a new car?

 

[02V8Sport]

Kelleyo, it depend on how well you are financially. You can pay off the car and drive it into the ground and buy the warranty and save up for something really nice. Or you can dump it now since you are not upside down on it.

 

[Kelleyo]

Thanks. The one thing that is nice is that I am paying 0% on my FOMOCO car loan. I did this since it was actually cheaper than leasing in terms of monthly payment and once I got past 3 years I started getting close to break even. So I am in no hurry to pay off since it is "free" money.

 

[LEOV5]

I got the ESP for $1745.00 and it was for another 50,000 miles and 4 years. I think that you should check into it a little more. I currently have 52000 miles on my 05' LS and have had about $1300.00 of work done to her under the ESP. So it seems to be paying for itself, one more visit should even things out. I signed up for my ESP on the Lincoln website.

 

[Kelleyo]

I got the ESP for $1745.00 and it was for another 50,000 miles and 4 years. I think that you should check into it a little more. I currently have 52000 miles on my 05' LS and have had about $1300.00 of work done to her under the ESP. So it seems to be paying for itself, one more visit should even things out. I signed up for my ESP on the Lincoln website.

Thanks I will check online. I was only looking at the document they sent in the mail...

 

[Kelleyo]

Sheesh,
blackbook online says my car is worth between 11 and 14K. VERY depressing.

Sigh...

 

[Kelleyo]

Well I am going to go drive a BMW 335i Sport Coupe next week. 6 speed.

I probably shouldn't do it though... I might like it!