how long is the US P5 warranty?

[mctoone]

Don't know about the US but in Canada if you buy extended warrenty but don't use it (ie. turn in lease early or trade in car before extended warrenty period starts) you will get your money back. The catch here is you have to ask for it.

KB

Is it too late to ask if that applies to me? I mean...maybe Mazda will come with a really great car in the next 3 years and I want to end my lease early. Because I did not buy it outright - the extended warranty, ( its in my lease payments) will that still apply to my situation?

 

[REMillers]

No not free, I got it for around 600ish.

 

[Kona Bear]

Is it too late to ask if that applies to me? I mean...maybe Mazda will come with a really great car in the next 3 years and I want to end my lease early. Because I did not buy it outright - the extended warranty, ( its in my lease payments) will that still apply to my situation?

Yes it would. Here's why.... warrenties are based on years and/or kilometers. These 2 following situations could apply....

1) If you haven't gone over the kilometer limit of your factory warrenty by the time you turn it in (at full term of lease), you have basically paid for something that you have not used.

2) If you have gone over your allowed KM's your still good, because the remaining portion of the extended warrenty enhances the trade in value of the car.

They would most likely (assuming you want to buy another Mazda) just take that credit and use it toward the new car. You could ask them to write you a check if you decide otherwise, just keep in mind when turning in a lease you have to pay for unusual wear and tear, which could eat up your 400 (ie cracked winsheild)


Question for you.......how long is your lease?

I suspect the reason why they pressured you into an extended warrenty is your lease is for longer then the factory warrenty period. If your driving your car in the 4th year of a 4 year lease (no factory left as it's 3yrs/80,000KM) and your head gasket blows, that's foresure a 1000 + more repair bill. Now if had an extended warrenty, thats 400 well spent, if you didn't your hooped as you HAVE TO fix the car cause it's a lease.

KB

 

[mctoone]

Yeah, I have a 48 month lease and that's what they were saying...I will have one year without a warranty. I guess I was listening to people that said that if nothing goes wrong within the warranty period, it probably won't in the fourth year. Your point is well taken. Why can't Mazda have a warranty like Hyundai's...what is it? 10 years or something ridiculous? Also, I have to pay for extra miles as the lease only allows for 80,000 kms. I figure I drive around 25,000 a year ( I use my car for work )...I did not want to pay for excessive mileage. I know that if I don't give up the car and decide to keep it, they will take off the price of the extra mileage off the buyout price. If I had it to do all over again, I would have tried to finance it as Mazda was offering 0% financing over 48 months. I tried to change after 2 weeks but my signature on the lease papers is written in stone!

 

[Kona Bear]

Yeah, I have a 48 month lease and that's what they were saying...I will have one year without a warranty. I guess I was listening to people that said that if nothing goes wrong within the warranty period, it probably won't in the fourth year. Your point is well taken. Why can't Mazda have a warranty like Hyundai's...what is it? 10 years or something ridiculous? Also, I have to pay for extra miles as the lease only allows for 80,000 kms. I figure I drive around 25,000 a year ( I use my car for work )...I did not want to pay for excessive mileage. I know that if I don't give up the car and decide to keep it, they will take off the price of the extra mileage off the buyout price. If I had it to do all over again, I would have tried to finance it as Mazda was offering 0% financing over 48 months. I tried to change after 2 weeks but my signature on the lease papers is written in stone!

I think you buying the Ext. Warrenty was a good call on your part. No one can see into the future

Warrenty periods for cars are funny. It seems that warrenty period for cars is based on the confidence the company has in it's product. Compare Hyundai to Ferrari, 10yrs vs 2yrs. In my opinion when it comes to cars the shorter the factor warrenty the better built the car (with exceptions of course).

Something else to keep in mind, If you want to buy your car at the end of the lease the buy out is also negotiable. Your car will not be worth that amount (unless your way under in KM's) They appraise it and your responcible for the diff between buyout price and appraised value, thats if you deside to walk away and not lease another or buy.

Hope this helps,

KB

 

[mctoone]

Thanks KB - it does. I was feeling really crappy about how they almost forced this extended warranty on me. I guess it's good to have. I'm not sure what I will do in the next couple of years. I was not impressed by the Mazda 3...but the buyout for my P5 is around $11,100. Add the PST and GST on and it's close to $12,800.