This is a touchy topic to say the least. Most financial advisor would say absolutely not. Take the money you would have spent and invested it. Then if you did need a repair, you have the money yourself to pay for the job. But on the other hand many conclude the peace of mind that if a major repair comes up after the warranty runs out then you are covered.
The fact is that the extended warranty has become a huge cash cow for these companies that sells them. They know that most will sell the item long before they need to use the warranty. The warranty is usually way over priced to cover commissions and strong sales pitches are used to push them. Of course if the bank wants more money as a down payment and you don't have it, it will be the first item they will drop and all of a sudden you don't need it after trying so hard to sell it to you.
But after all is said, it boils down to how long you plan to keep it and even then you really don't know that for sure. Who knows what lies ahead. So do you want to pay for peace of mind or do you want to risk it and keep your money? Only you know the right answer to that. But always try to get a better price if you really just want it because there is usually a huge mark up on these things. Go with what make you feel more comfortable.
Ditto to Rick's post! I went with the lifetime one myself because this is my car until I can't drive it anymore... I paid a bit more than I could have...there are lots of threads on this topic with some price quotes too.
Since I have nav in mine if that alone goes out it'll pay for itself, but hey! It's what works best for you!
I ended up getting one of the cheaper ones, since the powertrain is 5/100 and the bumper-to-bumper is 3/36, I just bought one (from WarrantyDirect) that extends the bumper-to-bumper so that it matches the powertrain, plus two years for a total of 7 years. It's cheaper that way, and you don't have the double coverage of the factory warranty AND the extended warranty.
I would not buy one until the powertrain warranty is about to run out... everything else is cheap enough to self-insure until then. Also by that time, if you read forums, you'll know if there are typical/likely failures looming out there that would hurt you financially -- if things aren't likely you might choose to skip it.
Then, read your contract carefully (and don't buy a policy from anybody that doesn't provide a copy of the contract first.) You'll also need to decide if you want "wear and tear" coverage or just connecting-rod-sticking-out-of-the-block coverage.
But, yeah these policies are pushed for a reason -- they make money for the insurance company.
I got mine as it was included as part of the CPO purchase of my 2007 Sahara in 2009. I probably paid for it, however. It is the Chrysler warranty and extends the Chrysler 3-year new car warranty for 4 more years and I forget how many more miles. I probably would not buy one on its own merit, particularly from a non-Chrysler source. Save your money and enjoy your Jeep.
One thing that I didn't see mentioned is to choose the warranty based on what you have. I had a '94 wrangler and dealer couldn't understand why I was more concerned with power train and opted for that instead of 3 years bumper to bumper. (long road stay with me) The '94 I purchased was stripped down as basic as you could get not even a radio! I wasn't worried about an air conditioner, a cruise control part power windows or anything like that-it didn't have that! My point (finally) is IF you intend to heavily modify your rig, all you may want is power train-but if you have the nav system, and a few other exspensive creature comforts and intend to "keep it forever", may want a more top of the line "insurance" program. Kinda like stick or automatic no clear cut answer depends on what YOU want to do.
I have a PT Cruiser that got lots of attention under the extended warranty. That one was definitely worth it. The Dodge Caravan that I had I only put gas and oil in it; not one warranty repair but the peace of mind was worth it. I put over 100K on it before I traded it for the Jeep. The jeep has the warranty but hasn't been used yet since I passed 36K but it only has 42 on it. Same dealership on the last 4 vehicles. All of the warranties were not the manufacturer warranty. That having been said, the dealer has always honored the warranty with very few sticking points over many years of service. I like driving my jeep and other cars not repairing them. I've got too many other activities going on to spend a lot of quality time with them. Maybe when I retire, I'll start turning the wrench a little more. I do some things right now like tire changes or brake pad replacement or even a muffler replacement if I have the time. Since my children hit middle school age, my life has not been my own. Empty nest is coming in about 3 years and then I'll have gobs of time on my hands. By that time I'll have collected enough wrenches and other gizmos like air and electric power tools that I won't have to go begging for tools. Then jeep mods will happen at a much faster rate. But for now, warranty has worked for me.
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