Should I cancel the extended warranty? - Kia Forum
Reply
 
LinkBack Thread Tools Display Modes
post #1 of 12 (permalink) Old 09-11-2010, 05:39 PM Thread Starter
Newbie
 
Join Date: Sep 2010
Posts: 4
Drives: 2010 Kia Rio
Gallery: 0
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Thread Starter (Thread Starter)
Default Should I cancel the extended warranty?

I feel I was pressured into getting the extended warranty and from doing research online and talking to others, it sounds like I should have not gotten it.

The warranty was done through the Kia dealer, apparently the same company that insurances the factory warranty. It extended the warranty to 100k bumper to bumper and includes some oil changes and road side assistance etc.

Not really sure but I feel the factory warranty should cover most of what I want. To be honest with you 10 years seems like a really long time to own a car, I have only owned used in the past and kept for about 4-5 years. Thanks for the feedback!
gianthobbit is offline  
Sponsored Links
Advertisement
 
post #2 of 12 (permalink) Old 09-14-2010, 09:27 AM
Newbie
 
chrisvwyk's Avatar
 
Join Date: Sep 2010
Location: Pretoria, South Africa
Posts: 8
Drives: 2007 KIA RIO 5-door (hatch)
Gallery: 0
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Default

Quote:
Originally Posted by gianthobbit View Post
I feel I was pressured into getting the extended warranty and from doing research online and talking to others, it sounds like I should have not gotten it.

The warranty was done through the Kia dealer, apparently the same company that insurances the factory warranty. It extended the warranty to 100k bumper to bumper and includes some oil changes and road side assistance etc.

Not really sure but I feel the factory warranty should cover most of what I want. To be honest with you 10 years seems like a really long time to own a car, I have only owned used in the past and kept for about 4-5 years. Thanks for the feedback!
Always a good idea to have a warranty.
My Rio's timing belt threw a fit and ended up bending valves. The mechanical warranty I got covered it!
Also, an extended warranty will help when selling the car. The dealer will offer a slightly better deal!
chrisvwyk is offline  
post #3 of 12 (permalink) Old 09-14-2010, 07:18 PM Thread Starter
Newbie
 
Join Date: Sep 2010
Posts: 4
Drives: 2010 Kia Rio
Gallery: 0
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Thread Starter (Thread Starter)
Default

I actually canceled my warranty yesterday. They charged me $1,700 for the warranty, I thought that was a bit high. I guess I could always add it later if I wanted.
gianthobbit is offline  
post #4 of 12 (permalink) Old 09-15-2010, 04:13 AM
Member
 
Join Date: Jul 2010
Location: Adelaide,South Australia
Posts: 34
Drives: rio 5 2010, 2014 my15 Cerato blue sedan
Gallery: 0
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Default

Quote:
Originally Posted by chrisvwyk View Post
Always a good idea to have a warranty.
My Rio's timing belt threw a fit and ended up bending valves. The mechanical warranty I got covered it!
Also, an extended warranty will help when selling the car. The dealer will offer a slightly better deal!
chrisvwyk, did your 2007 rio lose the timing belt? if so, when and how many K's on it when it happened. Seems early for the timing belt to go kaput.
willholmau is offline  
post #5 of 12 (permalink) Old 09-15-2010, 04:51 AM
Newbie
 
chrisvwyk's Avatar
 
Join Date: Sep 2010
Location: Pretoria, South Africa
Posts: 8
Drives: 2007 KIA RIO 5-door (hatch)
Gallery: 0
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Default

My RIO didn't lose the belt but end up stripping almost 2/3 of the teeth on the belt. To make matters worse the timing was off one tooth (probably because the belt was smooth at places).

The car's batter and the warranty guys paid cash into my account.
chrisvwyk is offline  
post #6 of 12 (permalink) Old 10-02-2010, 12:18 PM
Newbie
 
Join Date: Oct 2010
Posts: 12
Drives: 2004 Kia Spectra, 2008 Kia Rio & 2002 Kia Rio
Gallery: 0
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Default

In today's economy, unexpected expenses can have a substantial impact if presented at the wrong time. We all need our vehicles and having an extended warranty simply adds peace of mind to your ownership experience.

I'd recommend you keep the warranty should the unexpected happen.
frugal1 is offline  
post #7 of 12 (permalink) Old 10-14-2010, 07:43 PM
Newbie
 
Join Date: Oct 2010
Location: Reno, NV
Posts: 2
Drives: 2008 Kia Rio LX
Gallery: 0
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Default

The extended warranty is insurance. What this means is that, yes, you're reducing your risk exposure to unexpected mechanical maladies down the road, but don't forget that they wouldn't sell them if they weren't profitable. What this means for you is that the odds of you suffering sufficient repairs to justify the extended warranty (i.e. total cost of repairs exceeding the amount you paid for the warranty) is fairly low by design. If it wasn't, Kia would either increase the price for it until the odds and profits were in their favor or they wouldn't offer it.

Like most insurance purchases, it's all a matter of risk and how much of it you can afford. If you're fairly comfortable financially and can save up enough to cover a catastrophic repair ($2000+), then don't get the extended warranty, save your money, collect interest on it, and count your blessings. On the other hand, if you don't have that kind of cushion, you'll want to shield yourself from the risk by paying the known cost of the warranty.

For what it's worth, I purchased the extended warranty on mine. Then again, I put over 30,000 miles a year on my car, so I wanted to shield myself from risk for as much of the car loan as possible. By the sound of things, mileage isn't a worry for you, so it'll ultimately depend on what the life of your loan is (it's difficult for most people to cover a car payment and a catastrophic repair bill at the same time) and how long you wish to keep your car.

Good luck!
Oatworm is offline  
post #8 of 12 (permalink) Old 02-19-2014, 07:38 AM
Newbie
 
Join Date: Feb 2014
Posts: 2
Gallery: 0
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Default

Quote:
Originally Posted by gianthobbit View Post
I actually canceled my warranty yesterday. They charged me $1,700 for the warranty, I thought that was a bit high. I guess I could always add it later if I wanted.
Thinking about canceling mine as well. Did you have to go in and basically rewrite the deal with the new monthly payments minus the warranty?

Thanks.
easyheimer is offline  
post #9 of 12 (permalink) Old 02-19-2014, 08:11 AM
PLP
Super Moderator
 
PLP's Avatar
 
Join Date: Dec 2008
Location: Haslett, MI, USA, Earth
Posts: 5,944
Drives: 2007 Kia Rondo EX V6 2.7 5P A/T; 2009 Hyundai Elantra GLS, 2.0, I4, 5 SPD M/T sedan
Gallery: 3
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 86 Post(s)
Garage

Default

Quote:
Originally Posted by easyheimer View Post
Thinking about canceling mine as well. Did you have to go in and basically rewrite the deal with the new monthly payments minus the warranty?

Thanks.
It is almost 4 years old thread. I am afraid you will not get any response from OP.

Per your problem.
How much did you pay for extended warranty and who covers it?

If it is full 10 year/100k miles for say 1700 USD as OP had, I would say - not a big deal assuming the coverage is same as factory bumper-to-bumper.

www.kiatechinfo.com USA - free service, manuals www.kia.ca/kia-owners-manuals Canada www.kia-hotline.com Europe (paid service!) www.kia.ca/pages/owner/OwnersManual.aspx?lang=en manuals - must pick model, Canadian version - for free
PRINT IT and put on your car Do you talk/text and drive? Watch it: http://www.oprah.com/oprahshow/Watch...bsession-Video
PLP is offline  
post #10 of 12 (permalink) Old 02-19-2014, 09:22 AM
Newbie
 
Join Date: Feb 2014
Posts: 2
Gallery: 0
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Default

Quote:
Originally Posted by PLP View Post
It is almost 4 years old thread. I am afraid you will not get any response from OP.

Per your problem.
How much did you pay for extended warranty and who covers it?

If it is full 10 year/100k miles for say 1700 USD as OP had, I would say - not a big deal assuming the coverage is same as factory bumper-to-bumper.
Yeah I was going out on a limb to get a response.

I paid $1800 for mine but it was used (guess it costs a little more than new) and Kia Certified. Exclaim has 25k miles on it and the warranty is 7yr/100k extended bumper to bumper backed by Kia. Only reason I considered was because it's used and don't know how last owner treated her.
easyheimer is offline  
Sponsored Links
Advertisement
 
Reply

  Kia Forum > KIA Models > Kia Rio Forum > 2G (2006 - 2010) Rio & Rio5

Quick Reply
Message:
Options

Register Now

In order to be able to post messages on the Kia Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
If you do not want to register, fill this field only and the name will be used as user name for your post.
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
User Tag List

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On