Originally Posted by AndrewsMother
I would never purchase a new or used car without purchasing an extended warranty, but that is because I do not have an unlimited supply of available money to pay for repairs. If you know that you can afford to replace the engine, transmission, fuel pump or anything else made by man could fail at any moment, then you might not want an extended warranty. If something goes wrong and you would have to spend your emergency fund and maybe more, then get the warranty.
I have health insurance that I might not ever need, and IMO an extended warranty for the car is just as important.
I agree. The problem is that the extended warranty doesn't seem to cover the big stuff, ie moving parts, transmission. Honda has a lifetime or 100,000 mile power train warranty provided you do 5K oil changes at the particular dealership we're buying from. That's something we do regularly, so that's fine for us.
I don't know why the information is so conflicted about these warranties. We generally buy solid cars, known for going the distance, and drive them for as long as they will safely run, usually upwards of 200K miles. For the most part, any issues we've run into with our cars has come somewhere between 125-200K. I don't know if we're just lucky, or take care of the cars, but the big expenses seem to be brakes (not covered by warranty), and then routine types of service. I have honestly never had a big repair on my cars prior to 100K. Hoping I'm not jinxing myself here!