Purchasing Extended Warranty

[PhishWagon]

My PW just hit 50k miles and I’m wondering if buying extended warranty is even an option at this point. With the price of everything skyrocketing, I’m not excited shelling out big $$ to fix issues in the next few years. I have a few nagging issues on the truck that keep reappearing (water leak, Uconnect, bumper) that have eroded my confidence in this truck and expect more things are ahead that could cost thousands to fix without warranty. Curious to hear others experience? Worth the extra $$? I’d like to keep the truck a couple more years if possible

 

[pyrorobert]

So I purchased the Extended Warranty when I bought my truck. I have had some issues with it that the regular Warranty completely covered. Mostly the Ramboxes had the springs come loose about 6 times. Some issues with shorts in the inverter and dome lights mainly caused by the technician who worked on the Ramboxes. They fixed them and I was fine for a while.
I am over the factory Warranty and the extended warranty is covering me until I hit 85k. I am currently at 70k and I took it in two weeks ago for an oil change and tire rotation. I also had an issue with the inverter again. Well during their inspection the tech found that the short in the inverter but also found the exhaust manifolds cracked. The service advisor mentioned that just the manifolds were about $5000 in parts. Luckily, the warranty has covered the repairs. I can't imagine the total cost if I had to pay out of pocket. My concerns is what happens once the warranty has expired. I guess we will have to see.

 

[securityguy]

I'll share a ew thoughts:

1. NEVER buy a warranty from your dealer at the time of purchase unless they are selling it at or close to "cost" or you absolutely have to finance it to afford it
2. If you do buy a warranty, buy only a RAM Factory Warranty and NOT a third-party that most dealers try to sell because they make more $
3. Buy a warranty right after you buy your truck, if you can afford to. The prices of these warranties only go up each year so lock in the lower price when new and not as you approach the expiration of your factory warranty
4. The warranty starts at the "in-service" date (when you drove it off the lot) and miles of the vehicle...not the day you buy the warranty so no benefit in waiting
5. There are several "on-line" dealers that will sell you a RAM Factory Warranty at $25 - $100 over cost and they have been posted on this forum (you can save a TON of money...thousands in some cases...if you buy on-line from a RAM dealer offering huge warranty discounts)

Hope this helps

 

[techman]

If you must for peace of mind, put the money into an emergency savings account ("self-insuring") which is often better, as warranties are almost 100% profitable for companies, meaning most consumers pay more than they get back. Avoid the pitfall of giving a warranty company a interest free loan of your cash in the hopes that you "break even" some day.

Cash is king....keep it for yourself.

 

[99mo]

Extended warranty is essential. Only through a RAM dealer. I would use Mopar Warranty through Granger. Good pricing and coverage with a prorated refund if unused. If you can afford to place extra money in a savings account, then do so. With the high tech of today's vehicles, you must have a qualified warranty or the money to pay multiple thousands of dollars not once, but possibly many times if you keep a vehicle for high miles and many years.

 

[techman]

Extended warranty is essential

I respectfully disagree. If you shelled out 80 plus grand on a truck you foresee being a money pit in the near future because of poor engineering and of disposable design, then you probably bought the wrong truck.

But I do realize there are some owners that need a "safety net". Even if it is flawed thinking at its core IMHO.

 

[securityguy]

I respectfully disagree. If you shelled out 80 plus grand on a truck you foresee being a money pit in the near future because of poor engineering and of disposable design, then you probably bought the wrong truck.

But I do realize there are some owners that need a "safety net". Even if it is flawed thinking at its core IMHO.

Every truck you buy in today's world is a potential POS, disposable design, and a money pit. FORD, Chevy, RAM, Toyota all have serious issues. For some, it's luck of the draw. I will agree that with all of the electronic modules in these vehicles, an extended warranty is a great idea as one thing can cost thousands out of warranty. The warranty through Grainer and others is cheap insurance that, most, will end up using once outside of the 3/36.