Re: Anyone out of warranty and risking it? - Saab 9-5 Bulletin Board - Saabnet.com
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Re: Anyone out of warranty and risking it?
Posted by PatO (more from PatO) on Mon, 25 Feb 2002 16:13:16
In Reply to: Anyone out of warranty and risking it?, Vincent, Mon, 25 Feb 2002 15:10:13
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My position on all extended warranties (i.e. insurance) is as follows: Only insure against major catastrophes. I define a catastrophe as a severe financial hardship. In addition, for insurance to be worthwhile the potential payoff should far exceed the cost (scaled to the probability of occurance), e.g. if my house burns down, or car is totaled. In the case of most extended warranties, neither of these criteria is ever met. $3,000, the cost of the insurance, would buy a lot of engine or transmission work. In practice, the most you are likely to ever get back is a factor of two or so over the insurance cost, and is most cases far less than the cost of insurance.
For those reasons I never buy extended warranties. Given that your car has not obvious problems, my advice is to not bother with the warranty.
posted by 128.8....
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