Should I purchase an extended warranty for our Chevrolet Matiz?
The manufacturer's warranty on our Chevrolet Matiz 995cc model expires at the end of March. I was wondering if it is worthwhile buying a used car warranty as we intend to keep the car for another three years. I have had a quote through Warranty Direct of £703.38 for a three year warranty. My wife thinks this is a lot of money and I agree with her. I'm inclined to think that used car warranties are only worthwhile on high mileage cars. The total mileage since new is just under 20,000 and we expect a similar figure over the next three years. We have had the car since new and never had any problems with it. Do you think it is worth buying a warranty on a car that has this kind of annual mileage?
Asked on 9 March 2013 by MD, via email
Answered by
Honest John
WD premiums are based on perceived risk. I'd reckon that £700 for three years signifies quite a high risk for a small car, and this engine is belt cam, so it will need an expensive cambelt change anyway, at your expense. The later Chevrolet Spark has a more robust chain cam engine. What this all adds up to is a recommendation to swap the car rather than spend a lot of money on it and a warranty.
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