When purchasing a car that is 10 to 11 years old, is it a good idea to purchase a mechanical warranty that has a length of 2 or 3 years? If buying a mechanical warranty is a good idea, what is the best company to use to get a mechanical warranty from? Are there any pitfalls or things to look out for when buying a mechanical warranty?
Your help / feedback is always very much appreciated!
nice_lady,
Oct 14, 11:24am
I'd guess that without a very thorough inspection by the warranty seller on a vehicle of that age it might be difficult and or very expensive to buy such a warranty. In any event when buying any type of warranty/insurance READ, READ, READ EVERYTHING on the paper and definitely READ the small print.
kazbanz,
Oct 14, 12:55pm
Short version-autosure MBI is the way to go and frankly for the $200 difference between 2 and 3 years I'd go 3
msigg,
Oct 14, 1:35pm
Well if buying a euro I would get a warranty. As above MBI is ok, otherwise get a inspection done by your mechanic and take the gamble. All sweet.
tony9,
Oct 14, 3:40pm
Don't overlook the protection in the CGA if it is an unexpected problem from when the car was bought. CGA cover is better than insurance if it applies.
sw20,
Oct 14, 5:09pm
Depends on the type of car you are purchasing. If it's a 10-11 year old Corolla or Camry, I wouldn't bother. Save the money and use it for servicing.
Personally I've bought warranties whenever I can. Most have not worked out financially, in that the cars never had expensive problems that cost more than the warranties did.
However there is also the intangible benefit of peace of mind. It's nice to know that sudden failures are covered.
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