Purchased new Hyundai Tucson. Final details not finalized yet. Tucson comes with 5 year 100,000 km warranty, bumper to bumper and power train. Is it a good idea to buy extended warranty and if so, what kind, how much, from dealership or other? Thank you for your thoughts.
Simple answer :NO
Do a quick search and you'll find this have been often discussed.
1. Profit margins in these are huge. If you do buy look for a big discount. Playing more $ doesn't gain you anything
2. Aftermarket extended warranties are useless. So many exclusions deductibles or even the chance of the company going belly up
3. Manufacture ones are better but still amount to an insurance policy or even a lottery ticket.On average the house will win. You are counting on you being the lucky (unlucky?) one that actually needs this and gets value from it.
Take the 1000$ you were going to spend on the warranty put it in something secure and interest bearing for 5 years (at which point your bumper to bumper runs out) then if you need the $ for repairs its there. if not you earned interest.
Everyone's situation is different but it would be a rare situation where it would be worthwhile to buy one
