Buying Extended Warranty

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Tue 12 Oct 2004 23:31
Buying Extended Warranty - Durelli
Hi,

My car is fast approaching 60k miles and therefore the end of its warranty.

I can extend the warranty to 100k miles at a cost of approx £1250

Do we think this is a good idea for a 2 year old Volvo V70 Diesal?



cheers

Durelli - son of a famous Italian tyre maker
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Wed 13 Oct 2004 09:58
Buying Extended Warranty - MarkSmith
What's your approach to risk?

The warranty company aren't expecting to lose money on the deal.

-Mark
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Wed 13 Oct 2004 10:03
Buying Extended Warranty - Nsar
You need to look very carefully at what's not included in "off the shelf" warranties. When I looked at this, Warrantywise seemed to offer more for the money than the others I looked at.
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Wed 13 Oct 2004 10:22
Buying Extended Warranty - bazza
I would agree it depends on your approach to risk. But looks like you'll be hitting 100K in not much more than a year on from now? The probability of having to spend that or more on repairs in that time is quite low IMO, (unless your car is or has been a real dog!) As has been mentioned, the warranty company is not expecting to lose on it! Personally, I wouldn't bother, well worth a gamble.
Baz
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Wed 13 Oct 2004 11:26
Buying Extended Warranty - Truckosaurus
Stick the £1250 into a High-Interest Account instead. Pay for any non-service items out of this fund and then spend what's left over on whatever you like.
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Wed 13 Oct 2004 15:03
Buying Extended Warranty - googolplex
If you had said £250, I'd have thought it a good deal! But you're better off taking the gamble, which on balance of probabilities must be worth it for you, because taking your money is obviously profitable for the warranty firm!
Splodgeface
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Wed 13 Oct 2004 16:25
Buying Extended Warranty - Garethj
Maybe a good idea to speak to a friendly service manager at the Volvo dealership to see what commonly goes wrong between 60-100k. He'll probably even give you the costs to fix it while you're there. Subtract that number from £1250 and you'll know what to do.
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