Just bought a new car.....bought the extended warranty....

[Fountain79]

bad idea?

[Nickster]

1. Did you buy it through the dealership? If so, then yes. Go to the local

credit union and ask about extended warranties, tell them what you paid at the dealership and ask what they can offer. They will beat it and probably have better coverage too.

What was the warranty that came with the car? 3/36000?

[Fountain79]

The original warranty was...

3/35,000 miles something like that. The extended warranty doubled it. Can I take the extended warranty off now that it is on there?

[Nickster]

3. Yes, double check the paperwork, it will tell you how to rescind the deal.

Actually, just go back to the dealership and talk to the finance guy. He probably isn't even done processing the paperwork. Just tell him you want to cancel it. He'll try to pressure you but just say you found a better deal.

Call the credit union first to get an idea on the price. Then you have a negotiating point for when the dealership tries to talk you out of canceling theirs. Those warranties are pretty much all profit for them, so the price is negotiable. Make sure you match up the stuff that's covered and just get the best policy at the best price.

You can just cancel it all together really. It's up to you. On a used car, I'd insist on having a warranty, but on a new car...ehhhh. You're covered for 3 years or 36k miles, and can get an extended warranty after that if you feel you need it. Remember, you're financing the cost of the extended warranty that you won't even get to use for 3 years AND you just might have a different car by then. That financed warranty cost follows you around if you trade your car in, even if you never used it.

[Fountain79]

4. Welll the dealership is closed....

but then again I was one of their last sales.

[Nickster]

5. Get to the phone early, or stop by if you have the time tomorrow. n/t

[Fountain79]

2. dupe...n/t

[flvegan]

6. Sweet mother of Goddess...

First of all, you bought a new car, yes? What kind of car and who is backing the extended warranty?

If the base warranty is 3/36 or whatever, I'd say that your purchase (without knowing the cost) is a good one now that you're covered for 6/72 instead. The later time being when you'll probably need it.

[Fountain79]

7. Ford Focus n/t

[flvegan]

8. How much is peace of mind worth to you?

You already bought it, accepted the payment. Won't it be nice to not have to worry for several years?

[Nickster]

9. You can still get a better price on an extended warranty from someplace

other than the dealer. Piece of mind doesn't have to be overpriced.