Extended warranty purchase
05-01-2011, 09:49 AM
#31
JK Junkie
I've worked at dealerships over 30 years- a good rule of thumb when quoted for an extended warranty is: If quoted $1000.00 then the dealer is paying Jeep $500.00 and keeping the rest. Offer $600.00. They would rather get the $100.00 than nothing. One of the most negotiable items in a car deal is the extended warranty.Always 1/2 the initial price and negotiate from there. NEVER pay the asking price. NEVER NEVER NEVER buy a dealer only warranty. Buy only a nationwide good- at - any- dealer policy backed by Chrysler. Remember this- the deductible is designed to limit the nuisance claims, don't take it in for warranty work until you get more than one item, if possible. Your deductible covers the VISIT- not the number of items. Also after settling on the warranty price MAKE CERTAIN to set the policy deductible. THEN. If you don't the deductible could be $150.00 instead of $100.00. That's how profit is generated down the road on a tight deal....Make absolutely certain that they know you are expecting an actual policy stating all dollar limits and terms from Mopar.
05-01-2011, 10:03 AM
#32
JK Enthusiast
Join Date: Nov 2010
Location: Gahanna, OH
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I guess as a owner of a 09 with a bumper to bumper lifetime, I'll chime in.
I got mine for $1750... and already had the powertrain. I figured since I planned on keeping this jeep for many years and put many many miles on it It would pay off in the long run. Well, almost 70,000 miles later and a week past 2 years. I'm happy to say (knock on wood) I haven't needed it yet. That said, I made damn sure to check exactly what was covered, and I'm sure eventually it will pay for it self.
It is from Chrystler however the dealer also chimmed in when I was on the fence that they would put it in writing that everything mechanical/electrical was covered... If not by Chrystler then by that dealer. So, I feel confident in it.
I'll chime back in when I pass 200,000 miles...
I got mine for $1750... and already had the powertrain. I figured since I planned on keeping this jeep for many years and put many many miles on it It would pay off in the long run. Well, almost 70,000 miles later and a week past 2 years. I'm happy to say (knock on wood) I haven't needed it yet. That said, I made damn sure to check exactly what was covered, and I'm sure eventually it will pay for it self.
It is from Chrystler however the dealer also chimmed in when I was on the fence that they would put it in writing that everything mechanical/electrical was covered... If not by Chrystler then by that dealer. So, I feel confident in it.
I'll chime back in when I pass 200,000 miles...
05-07-2011, 10:19 AM
#33
JK Newbie
Join Date: Feb 2011
Location: ga
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I bought my extended warranty because it lowered my monthly payments.
I financed the Jeep for 72 months, but with just a 3yr/36,000 mile warranty the bank wanted to charge a little higher interest. However, if you extend your warranty to at leasts as long as your loan they come down on the interest as they view you as less likely to default.
In my case an extra $1,000 for a 72month, 72,000 mile warranty reduced my interest rate enough to lower my monthly payment by a couple of bucks. Not much, but it was better than not and if something (like my radio) does die I can have it replaced/repair for only my $100 deductible.
Seems like a great deal to mr. I'm all about paying less and getting more
I financed the Jeep for 72 months, but with just a 3yr/36,000 mile warranty the bank wanted to charge a little higher interest. However, if you extend your warranty to at leasts as long as your loan they come down on the interest as they view you as less likely to default.
In my case an extra $1,000 for a 72month, 72,000 mile warranty reduced my interest rate enough to lower my monthly payment by a couple of bucks. Not much, but it was better than not and if something (like my radio) does die I can have it replaced/repair for only my $100 deductible.
Seems like a great deal to mr. I'm all about paying less and getting more