Another (but different!) extended warranty question

Lot of negative post about extended “warranty” ! I kind of get that as I never considered buying
those products until I bought my first truck.

In this case I was fortunate that my wife convinced me to buy a service contract.

I bought my first used diesel truck, 9 years old and 115000 miles. Paid 4800 $ for 48 month and 48000 miles. Crazy expensive I thought.

I drove the truck 35000 miles and had repairs for 5880 $. Every repair shop (3) said the same thing. The best aftermarket ”warranty” market we ever worked with. When I sold the truck I got
3200 $ back as it really is a prorated insurance. Always claim money back if the service contract has not expired if you sell the car. What they have paid out is irrelevant. As it is an insurance you get back for the time you are not using your insurance.

If you are buying a service contract do read all the fine prints before you sign the contract. If not you might be disappointed down the line when you find out something is not covered. And there will always be things that are not covered.

Another thing I liked with the Revolos RPMPlus plan I had on the truck was that I could take the truck to any independent certified workshop. A branded insurance will require you to a dealer ship that might be booked out for weeks.

Another reason for buying long contracts is that I belive they Insurance companies under estimate the future cost for car repairs. I bought a new truck with a 10 year contract. I‘m sure the repairs 2030 will be much higher than today.

Heck, I paid 500$ for changing glow plugs on my CX-9 at an independent workshop. (Actually 40 $ more than what the dealer ship would have charged) Not saying glow plugs will be covered by insurance. But is there any repairs that is under 5-600$. I do not think so.
2021 CX-5 GTR
They are great IF you have needed repairs, the issue is if you don't need the repairs and the contract runs out, you still paid the money and got nothing in return. Sure, as you listed above, sometimes you beat the house (you got 5,880 in repairs and only ended up paying $1,600 for the warranty). This is not the norm as if it was, warranty companies would be out of business...