Date: 20 Mar 1998 00:58:27 GMT From: Paul <berrynopsamtech.com> Subject: Re: Opinions on Aftermarket Extended Warranties
> Re: Opinions on Aftermarket Extended Warranties These extended warranties are a ripoff. They try to get out of paying for anything. If you don't have every receipt for scheduled maintanence, they'll probably never pay for anything. If your warranty costs $1000, that's enough to pay for alot of repairs. On a used car, you'll probably be paying 18% interest. That makes your $1000 warranty cost probably $1500 by the time you pay off the loan. Not only that, it makes your payoff $1000 higher if you trade in your car before it's payed off. You'll be what used car salesmen call 'upsidedown'. That makes your tradein less attractive to them, so you have less bargaining power. If you really think you need a warranty, why not just buy a new car that comes with a 3yr 30,000 warranty for free? If your car doesn't have any problems in 3 years, it's probably a good car that will last at least 6 years. If it does have problems before 3 years, get all of the warranty problems fixed then sell it before 29,000 miles.
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