EXTENDED WARRANTY (Thinking about cancelling)

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Skyler2014SV

New member
Joined
Nov 7, 2016
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Just purchased my 2014 Nissan Leaf and in the process I agreed to a $2,500 "Extended Warranty" from the Nissan dealer. I believe I can still cancel this within 30 days. This really has me up @ night as I was trying to keep my expenses low for a 2nd car. It basically provides 100,000 miles of coverage for mechanical/electronic failures.
Any thoughts about the need for a EW on a Leaf?
 
Even if you do decide to keep it (I extended mine out to 7 years due to new technology), that's waaaaayyyy too much money for it.
 
i was offered $1,500 on a new 2015 model... which is a lease for 3 yrs.. all of the parts are covered anyway so it was easy to say "no thanks" to. But even on a used car those warranties are just commission for the dealership. If something horrible happens, I guess it could be a good thing.
 
Cancel it and get a refund. Most extended warranty companies will try their hardest to never pay out. Just google the name of the company.
 
Durandal said:
Cancel it and get a refund. Most extended warranty companies will try their hardest to never pay out. Just google the name of the company.
Click to expand...

Agreed. I purchased one once. I had an issue with car and the repair was thousands of dollars. They would not honor the warranty, they are the ones who decide if they are to pay out, not you. I will never buy a warranty for a car, ever.

Now I've bought a warranty for a compressor at Harbor freight and I ended up using it too. They did honor their warranty.. cars though, I bet there are more people who have bought them and have been rejected than have been successful.
 
I like to keep my own extended warranty fund. It is a simple savings account, and I make an equivalent dollar deposit instead of purchasing the warranty. The more often you do this instead of buying extended warranties on everything from cars to iPhones, the better. If the item doesn't need a repair, you win and keep the money. If something does need repair, or even replacing, chances are your little savings account will have the funds to pay for it.

Extended warranties often have deductibles that reduce much of the "peace of mind" value. In the end the house always wins.

Still awaiting the day Starbucks offers me a service plan on my cappuccino.
 
gshepherd said:
I like to keep my own extended warranty fund. It is a simple savings account, and I make an equivalent dollar deposit instead of purchasing the warranty. The more often you do this instead of buying extended warranties on everything from cars to iPhones, the better. If the item doesn't need a repair, you win and keep the money. If something does need repair, or even replacing, chances are your little savings account will have the funds to pay for it.

Extended warranties often have deductibles that reduce much of the "peace of mind" value. In the end the house always wins.

Still awaiting the day Starbucks offers me a service plan on my cappuccino.
Click to expand...

Can I hear Dave Ramsey in the room?
 
I bought the 96month/96k Nissan Extended Warranty from Jim Bone Nissan for my 13SV. It was about $1800 with a $0 deductible. It is essentially insurance in case repairs are needed. I would not buy an extended warranty from any of the off-brand companies that sell them, especially through the mail or over the phone.
 

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