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Is Added Security worth it?


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The bottom line is that these warranties wouldn't be sold if they were such a good deal for the buyer. The Companyies that sell them make money off of them. Obviously, I opted not to buy the extended warranty on my LGT, since I've owned Subbies for some time and have found them to be very reliable.

The same thing applies to full coverage insurance, but does that mean it's not worth getting on a valuable car? If whoever's selling you the warrenty plans to actually uphold their end of it and did their math right chances are you won't save much if any money off it (remember even if it breaks even for you it still makes them some money because of parts/labor margins, and they prob take that into account in their calculations). But that doesn't mean it's not worthwhile for you - with the warrenty you know exactly how much you're spending on the car minus maintenance and wear items while the warrenty is in place, whereas without it you're relying on luck, even if the odds are in your favor.

 

Of course certain cars are overall so unreliable I'd never own one outside of a warrenty (*cough* VW/Audi *cough*, though there are some individual exceptions of course). The LGT isn't one of those but I don't get the impression that it's particularly reliable either. My LGT's reliability has certainly been dissapointing - two problems within my first few weeks of ownership (I bought it used).

 

All in all I think $650 for 4 years/60k miles of full coverage on an LGT is worthwhile if you'll hit 36k miles before the end of standard warrenty's 3 years/36k miles full coverage. If you won't and all this really gets you is one extra year of full coverage then I'm not so sure.

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However, the cost is actually more than just the amount you pay up front. You also pay a $100 deductible for every repair, which, at least for the Subaru extended warranty, is something to consider.

 

I stick by my botom line and will add that they are good for those that don't have the excess desposible income to absorb a repair in the the event it occurs. I have never purchased an extended warranty and I never will.

Oh and BTW, my former car was an Audi and I concur with your comments about the reliability, or lack there of, with that car. :)

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