Extgra "Extended Warranty" From Dealer ?

Hello,

Closed the deal for a new Elantra SE.
Really looks nice; think I'll enjoy and like it.
No way I'd get another Toyota.

Frankly, not too sharp with this kind of thing.

Anyway: Dealership tried to sell me an extra "Extended Warranty" that
presumably covers everything from the 50,000 miles to the 100,000 miles
point.

Wanted $ 1,400, which really seems excessive.

a. Do you folks think an extra Extended Warr. is a good idea ?

b. What's a fair price for it if I do get it thru the Dealer ?
Is this a negotiable type of item ? What should I go for ?

c. I remember when I bought my last car a very long time ago, but
haven't looked yet, that there were loads of organizations offering
these kind of things for new cars, at much lower prices than what the
dealership wanted.

Would hate to go to one of them, sign up, and find out they are out of
business in a few years, as my guess is that is what happens to a lot,
or most, of them.

Are there any that the concensous is are reputable, and likely to be
around for a while ?

Recommendations and thoughts would be most appreciated.

Thanks,
Bob

 

No. Never bought one, never found them of any value. Good money maker for
the seller though.

Maybe a hundred bucks.

Put that $1400 in a CD or money market. By the time you have 50,000 miles
it will have increased in value and be enough to cover most any routine
repair needed.

 

What year will it be when you have driven 50,000 miles? .... 100,000
miles?

Will you still have it? Is the warranty transferable?

Invest the $1,400 and use it to do any repairs from 50,000 to 100,000.

Generally, extended warranties for any product are a salesman's gravy.