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Extended Warranty

6K views 11 replies 10 participants last post by  toypup 
#1 ·
I'm just wondering how people feel about buying the warranty. I bought my 19 Soul 6 weeks ago. I did buy a warranty. 10 yr 100,000 mile. Its $100 deductible per repair after the 60,000 Kia warranty expires. So its really only good for 40,000 more miles. I'm ashamed to say I paid $1800 for it, which the dealer of course doesn't talk about in the transaction. Its with Fidelity and I'm going to cancel it. I just don't see it being a practical purchase, with the warranty Kia already gives.

Comments please on what others did when purchasing a new Kia.
 
#6 · (Edited)
Honestly they are a waste of money.

Do some basic research online & you'll find a preponderance of reliable sources saying the same.

Kia gives you one of, if not the best new car warranties in the business.

My dealer forced me to sit through the same "the sky is falling" extended warranty dog & pony show. After the salesman chatted up how great Kias are, the extended warranty guy (picture the cigarette man from X-Files) told me how all those 40,000 parts would fall apart, at any time. After saying the word "NO" to him repeatedly, he finally made reference to his kids college tuition amount. Sorry.

I think of how many people I know who would just give in and buy bogus peace of mind policies.

Think of this as tuition, and don't do it again :)
 
#12 ·
Honestly they are a waste of money.

Do some basic research online & you'll find a preponderance of reliable sources saying the same.

Kia gives you one of, if not the best new car warranties in the business.

My dealer forced me to sit through the same "the sky is falling" extended warranty dog & pony show. After the salesman chatted up how great Kias are, the extended warranty guy (picture the cigarette man from X-Files) told me how all those 40,000 parts would fall apart, at any time. After saying the word "NO" to him repeatedly, he finally made reference to his kids college tuition amount. Sorry.

I think of how many people I know who would just give in and buy bogus peace of mind policies.

Think of this as tuition, and don't do it again :)
My husband's reply to that guy was "I thought you guys have faith in this car. If it's that bad of a car...." The guy quickly changed his tune.
 
#9 ·
Consumer Reports also does not recommend them, as based on their research and feedback it's very rare that they ever prove to be worthwhile. They suggest what Sube said - put that money into an account that earns you interest and use it for repairs in 5-10 years time when you might need it.

The 10 year warranty or 100k miles on US Soul's is for the power-train not the whole vehicle.
 
#11 ·
Only bought extended warranties on two vehicles (1992 & 1994).
Both ended up worth more than I paid.
The second was a favor the a friend, the dealer sales manager, who was one spiff away from a trip for two.

However, that seems to be a rare situation.

My 2008 Hyundai Santa Fe (3.3 V6) only had two past-warranty issues:
Throttle Position Sensor
Secondary fuel level sensor
Neither added up to the price of an extended warranty
140K miles of service and went from Nevada to Georgia and back weeks before trading it.
Hyundai / Kia have good build quality
 
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