dick GCT Posted April 13, 2011 Share Posted April 13, 2011 Any opinions/advice on extending a cab/habitation warranty? Purchased a 2008 Stargazer 12 mths. ago from a dealer near Preston part of deal was a 12mth warranty through an insurance company . Cost met by dealer. The warranty was " Gold cover" and dealer is now inviting me to extend warranty. Furthur 12 mths. £345, 24mths. £495 36mths.£595. I had a habitation check done in February by Kevin from Rossendale ( see separate thread) but getting vibes that these extended warranties are a waste of money and rather a rip-off! What do members of the forum think? Link to comment Share on other sites More sharing options...
DESCO Posted April 13, 2011 Share Posted April 13, 2011 In my experience the only people who gain are the insurance companies. If you gain then you have been very unlucky Dave Link to comment Share on other sites More sharing options...
tonyg3nwl Posted April 13, 2011 Share Posted April 13, 2011 Hi, I'm no financial whiz kid, but I think it is better to put your cash into the best interest bearing location you can find, probably an isa, which is tax free and pathetic rate of return it may be but you have access to it when the disaster strikes. I would bet that the "extended warranty" has so many escape clauses that nearly everything that can go wrong wont be covered so you will end up paying anyway. Insurers have a nasty habit of avoiding payout whenever they can. and your dealer gets a cut from the warranty provider as well . tonyg3nwl Link to comment Share on other sites More sharing options...
flicka Posted April 13, 2011 Share Posted April 13, 2011 ANY extended Warranty for ANY product is simply an income source for the Dealer & the Insurance provider. To comply with the Terms of the Extended Warranty, there will generally be a clause requiring full compliance with annual Habitation Checks & Mechanical Servicing by the Insurer's Approval provider, usually the Dealer who sold the Warranty. So commiting you to a single option. WHICH magazine regularly rate Extended Warranties as the worst buy available to comsumers. Link to comment Share on other sites More sharing options...
JohnP Posted April 14, 2011 Share Posted April 14, 2011 I certainly would not spend my money on an extended warranty. There will probably be so many get out clauses and things not covered. You may have to use the original dealer to get the servicing and warranty work done. Leave your options for servicing etc open IMHO Link to comment Share on other sites More sharing options...
dick GCT Posted April 14, 2011 Author Share Posted April 14, 2011 Thank you all for the replies/advice. Very useful and confirms what I had thought about these warranties . Link to comment Share on other sites More sharing options...
dick GCT Posted April 14, 2011 Author Share Posted April 14, 2011 Thank you all for the replies/advice. Very useful and confirms what I had thought about these warranties . Link to comment Share on other sites More sharing options...
teflon2 Posted April 14, 2011 Share Posted April 14, 2011 I'm going to be the odd one out, I bought a 3 year extended warrantie because 6year old 2.5 turbo only 17,000 miles on the clock I was worried about the turbo breaking, low and behold 5th gear broke instead the company paid up within the month to my suprise the only comment from them was I should have waited for thir asseor before having the job done but I had informed them and got a claim No. so they paid. Must agree though I don't normaly take out exra cover. John 8-) ( The cover was in it's final year.) Link to comment Share on other sites More sharing options...
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