Having been a claims adjuster in the business for twelve years, I'd like to comment that what are commonly referred to as extended warranties are actually service contracts.
A warranty replaces parts that are found to be defective. A service contract is a contract to replace certain parts as they fail from normal use within a specified length of time or during a stated number of miles. Then it gets complicated. Some vehicles are prone to failure of particular parts, etc., and that is all factored into the price of the contract. An excellent example was the middle to late '90's Dodge and Plymouth Neons. The only thing that ever went wrong with them was you could bet money that at approximately 45,000 miles, and after they were just out of factory warranty, the head gasket would begin to leak. Once the original head gasket was replaced, they'd run forever without anything else failing except for wear items.
The whole schtick is too complicated to expound on here, but the bottom line is, if you buy a vehicle with a trend to a particular failure, a service contract makes sense. It's a decision you have to make yourself. I, myself, had one on a Pontiac minivan, and by the time the contract expired I was $300 ahead on it, claims versus the cost of the contract. Basically, it's one big crapshoot.
And I could write a book on the scams dealers tried to pull on us adjusters. Some were actually funny. Some repair shop would try to pull a scam of some sort not realizing we adjusters had seen the same thing tried a dozen times before. I once caught a Chevy dealer in Mississippi putting a used salvage yard engine in a pickup after I'd authorized a new Goodwrench engine, etc. A Dodge dealer trying to claim an entire engine replacement on a B200 van when the only problem was a failed fuel injector. That was all everyday stuff. They didn't realize we adjuster could spot a phony claim instantly, 'cause we'd seen it all before. I'd best not get started on the whole bit.
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Today's Featured Article - Women and Tractors - Tractor Engine Repair - by Teri Burkholder. One of the great things about working on a tractor engine with your other half is that you know what he is thinking of at all times and can anticipate his every move and his next thought of what he will do. With Ben, anyway, I can tell! He'll be busy working and I’m handing him tools and he says, "give me that..." and I’ve already got it in his hand or "hand me that....."and I’ve got the portable light right where he needed it placed to see. "Run in the house and get me a...."as I open th
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