I've always reflexively refused extended warranties on anything. I was reading Pat Goss's online chat on washingtonpost.com this week, and he said he now recommends always getting an extended warranty. With the computers in new cars, a major repair can be so expensive that the chance of it more than justifies getting the extended warranty.
The average new car costs over $25,600. With that cost, owners expect trouble-free operation and longer vehicle life. So why are many turning to extended warranty plans? The answer is simple: they want to protect their investment. Extended warranties have been called "health insurance for the engine." In fact, extended warranties are nothing more than extended service plans, similar to automobile insurance in many ways. You pay money up front to avoid paying considerably more money at the time of the repair. As with insurance, you get what you pay for, and sometimes paying less means not getting the coverage you need. - New York Times
I've always reflexively refused extended warranties on anything. I was reading Pat Goss's online chat on washingtonpost.com this week, and he said he now recommends always getting an extended warranty. With the computers in new cars, a major repair can be so expensive that the chance of it more than justifies getting the extended warranty.