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2013 Kia Sorento EX-V6 Luxery, 2010 Toyota Corolla XRS
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26 Posts
Discussion Starter #1
Hi All,

I just want to get some advice on Extended Warrenty or not?

I am looking into getting extra 2 year on the standard 5 year warrenty, and my dealer had quote me $2058 for the extra 2 year and he said that, if within the extra 2 year, I don't claim anything, I get $1000 back.

It is good deal?

Also, the reason for me thinking about extended warrenty is, one of my friend told me, they owned a Kia and he had follow all the maintenance sch. but once they change the timing belt, they are still having noise coming from the vehicle, they went back into dealer and dealer said they dunno what is causing it, and it will cost them over thousands of dollars for them to take the engine apart and find out what is wrong with it, but no guarantee the noise will go away, so they try to trade in the vehicle, but they get very low value of the vehicle. So they warn me to get this extended warrenty to cover anything "after" the standard warrenty is over.
 

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2013 Sorento LX 4cyl, 2013 Veloster Turbo
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14 Posts
Extended Warranty

I am usually not a fan since I know they price them to make money. However I bought one to go to 10 yrs from my local dealer for $1200 with 0 deductible (assuming I go to the dealer, $100 deductible if I go outside of the dealer). I did this because I live off a 2 mile dirt road and in 10 yrs I know I will go through a few things that are covered on the extended warranty in 10 yrs (ball joints, etc.) like we have on our 10 yr old Sante Fe (which still runs strong ;-) ).
 

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former owner of a 2016 Soul SX 2.0L - Caribbean Blue
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8,540 Posts
no, invest the $2058 in something that will make you money and if and when you need it you'll benefit.
Consumer's Report did extensive studies in all extended warranties on any type of product and in generally they are hardly worth the paper they are printed on. When you need to claim there is so many clauses as to why not that its more hassle than its worth.

But its your choice, me I could put a couple of grand to better use. Dealers make there biggest profits on these sort of deals.
 

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2013 Kia Sorento EX-V6 Luxery, 2010 Toyota Corolla XRS
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26 Posts
Discussion Starter #4
The reason for me to ask about this question is,

i would like to know, what will need to be replace after let say, standard 5 year warrenty is up?

and what if the parts broken after let say 5 year and 1 day, and that if I have the extended warrenty, I know, i am cover for that 1 day.

But if i dont, i am screw. also, for that $2058, they did said, if i don't make any claims in that extra 2 year, i can get $1000 back, so that mean for the extended 2 year, it will only cost $1058. which is $529 per year extra.
 

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Cerato S Hatch Auto
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1,236 Posts
I've had extended warranties offered to me (some for free) provided I keep having the car serviced at the original dealer. One deal offered was $2000 for an extra 3 years. Didn't take up the offers, since dealer servicing is a rip-off (see below).

My experience is that, provided the car has been trouble-free for the first couple of years, it's likely to keep going for 10 years without major repairs. Really, it's just the insurance game all over; If you have the resources to pay for unlikely events, you will be better off without insurance.

Most outrageous dealer service charge was going to be $540 for a "2 Year Service" on my Mazda work vehicle; due to holidays etc., the car had only covered 2000 km since its previous service and was well below the 40,000 km mark assumed at 2 years. On principle, I didn't bother having the car serviced for another 18 months (total of 2 years and 12,000km). Had it serviced by a local mechanic for $120 and then again before finally trading it in. Performed faultlessly. Saved about $1400 on scheduled servicing.
 

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2013 Sorento SX Ebony Black
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49 Posts
I plan on keeping my SX for at least 7-10 years and I thought the extra $1300 I paid for an extended 5 years was worth it. I say this because of all the research I did on the SX and the only issue Consumer Reports and other publications were concerned about was: reliability. So I thought I'd rather be safe. If I bought a Honda,Toyota or Subaru an extended warranty would not be worth the money. MTC
 

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White 2012 SX AWD
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760 Posts
You know what will happen...always does. If you get it, you won't use it. If you don't get it, you will need it.

The 5 years + 1 day theory doesn't work. If you extend the warranty by 2 years, the gremlins know this and will wait 7 years + 1 day.

I'll agree with the clauses that you need to jump through to have claims paid. I had a 3Rd party warranty for anclausesother car and the AC ompressor failed...many hoops but eventually paid. They count on people giving up. I think the Kia extended may be a little different though. It's from Kia so I don't think the issue with the clauses exists. You can read more about it here Mechanical Breakdown Protection is designed to extend your warranty protection. I think it may only be for Canada...don't know if comparable exists for the US.

I also think you should not need it if you maintain your vehicle properly. Having said that, i am considering it too.

Whatever makes you happy.
 

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10 Optima LX, 07 Rondo EX, 89 Chevy C1500
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2k for only 2 extra years is expensive. The one I purchased on my car was only $1000 and added 5yrs onto my basic warranty and is zero deductible. It also covers rentals from day one, even on Kia covered warranty repairs if a rental is needed. This is a plus because Kia itself doesn't cover rentals or provide loaners.
 

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White 2012 SX AWD
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760 Posts
spongebob, was it a Kia warranty or a third party. Can you provide any details and is it available to others?
 

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2019 Sorento SX 3.3 V6 AWD, Snow White Pearl W/Touring Pkg.
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73 Posts
I am not a fan of extended warranties either.However following some deep reservations,I did purchase a 10yr/100k dealer extended warranty. Mainly for the extended coverage of the 36mo.3yr.navigation and entertainment limitations of the Kia factory warranty. Cost me $1078.00 with $50.00 deductable per incident.Repairs must be performed at my selling dealer. I plan on keeping this vehicle forever as we are seniors(72+)Purchasing this plan was against my general principles but considering a possible failure of nav and radio plus other potential electrical/mechanical failures insured me the added financial security of a planned lengthy ownership. What the heck!
 

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2017 Sorento LX
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104 Posts
I always buy used, so I buy them. Good thing on my 06, cause I had to replace the drive shaft for the 4 wheel drive, the rear end seal, and the throttle body. All covered, with no hassle. Maybe it's just me, and the miles I put on, but it seems that 60,000 mile mark comes up quick....
The one I bought this time is bumper to bumper for 120,000 miles or 60 months,and cost like 1600 and $50 deductible
 

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2013 Sorento, Suzuki V-Strom
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506 Posts
I don't know Canadian law, but in the U.S., what is called an extended warranty is not a warranty. It is always listed as some kind of a "plan." These are actually pre-paid repair contracts. They cover what is listed in the contract (not what is listed in the factory warranty booklet) IF you follow all the requirements the contract places on you. Be sure you can get a full refund in a few days after you receive the actual contract if you don't like what you read in the fine print. Consider one of these plans as peace-of-mind insurance. They are a bad financial deal for most buyers, but if it allows you to sleep better, get it. The get-your-money-back-if-you-don't-use-it gimmick usually gives you a very short time period at the end of the plan to request the refund. If you miss the time window, you're stuck. If this is a 3rd part plan (not KIA's own), and the underwriter goes bust, you're stuck. If the underwriter just doesn't pay much out, you're not much better off.

Here's KIA's Canadian "Protection Plan" (and note that they do not call it a warranty, 'cuz it does not extend the factory warranty):
Mechanical Breakdown Protection is designed to extend your warranty protection

You can negotiate the price of these, and you can check on the internet and contact other dealerships for a lower price. Do not take the selling dealer's first price offer.
 

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10 Optima LX, 07 Rondo EX, 89 Chevy C1500
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1,411 Posts
Zurich, it is a third party, purchased through the dealer at time of sale and included in financing. Added $12/ month to my payment for 72 months. If you do an internet search I'm sure you will find info for them.

Disclaimer: I work at the dealer. I probably got a better price because I work there, but not a huge difference I'm sure. I'm not promoting them, but from my experience, we haven't had any issues getting anything covered.

I've dealt with countless others: Cars(worthless), Great Lakes(less than worthless), AUL, etc. Zurich is better than all of those by far. AUL wasn't horrible, but we've found items that they won't cover that Zurich will. They will pay for alignments with most suspension repairs, most fluids for repairs, etc. As for rentals, it usually isn't a problem getting a few days for a major repair, which is all that is usually needed. They also offer Road hazard insurance for wheels and tires which has bought people new wheels and tires on multiple occasions.
 

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2013 Kia Sportage EX
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156 Posts
If I added up all the extended warranties that I have turned down over the years they would total almost $20,000. My out of pockets costs for unanticipated repairs during the warranty periods for all those vehicles...about $135.00 for a temperature gauge sensor and about $150.00 for replacing a crankshaft pulley. I also had to replace the fuel pump on my GMC Sierra (about $400.00 for parts and labor), but the truck was over 11 years old at the time and would have been out of warranty by then. Everything else was normal wear related items like new brakes, fluids, wipers, bulbs, tires, etc. that would not be covered. Don't look at this as from the perspective of one vehicle, but rather a lifetime of buying vehicles. One thing you might consider is each time you buy a new vehicle, bank the amount the warrant costs. When you retire, you can take a really sweet vacation or even buy a new car.
 

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ext wtty geico

Check out geico mech breakdown if you are insured by them they offer 7 yr 100 000
Its cheap when added to policy I have had it many years and they cover no issues
 

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2013 Sorento EX V6 AWD
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707 Posts
If it made any financial sense, there wouldn't be any of these extended warranty companies in business. They earn profit by paying out less than they take in. If you take that $2k and invest it, the odds are stacked way in your favor that you'll do better. Kia already has a long warranty and cars are significantly more reliable these days than they were in the past. I look at a vehicle the same way I look at a house. If you take care of it, chances are, you wont' get hit with any unexpected big ticket items, BUT you need to keep some money set aside just in case. I guess if someone is not one of those people who can keep a few grand set aside for that eventuality, for them it might make sense to "borrow" that money from a warranty company and finance the cost along with their vehicle. So they're paying interest on the money they borrow (along with the cost of the vehicle) AND running the risk that the warranty won't cover problems anyway. I find it hard to see any value in that proposition, but then again...I'm one of those folks who has no problem putting the money away for a rainy day when I need it.

**shrug**

Best,
 
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