Buying a Mazda extended warranty for my 5

[remarquian]

So my `07 is about 5K and six months from its factory warranty expiring. Outside of the crunch issue, I've had zero problems with it. But I'm thinking of keeping this car for a while, and an extended warranty would be bring some piece of mind, if the price was right.

I've decided that the TotalCare Mazda Extended Protection Plan is the way to go. I'm looking for the 60month/100Kmile option, which would give me another five years (from purchase of warranty) and 74000 miles with like a 100$US deductible.

So local dealerships are quoting like $2400. A Mazda dealer out of Connecticut sells Mazda Warranties over the Internet. Their online pricing system doesn't handle 2007 5s, but when I put in a 2008 with similar pricing, it spits out a quote of around $1100. When I asked them for a quote over the phone they told me $1800 for the 2007.

For $1100 I'd definitely buy, but for $1800 I'm on the fence.

Does anyone know why there would a a seven hundred dollar difference between the 2007 and 2008, for similar miles? Is it be cause it is year older? Or was the 2007 less reliable than the 2008?

But in retrospect, at the purchase of the vehicle, I wish I knew the about the Mazda extended warranty online. It would have been interesting going into the 'finance' office with some other numbers.

 

[thaxman]

They did make some differences for the 08+ models. I have seen the cosmetic/ergonomic differences, but perhaps there were some mechanical differences beyond the new auto tranny and the better engine mapping for greater fuel efficiency....?

 

[Rocket]

You need to run some scenarios to figure the total costs, not just the buy in.

Does that $100 deductible apply to every visit? If so, then what if the car goes to the shop 3 times? Your price is $300 higher.

I have an '06 that has given very few problems, certainly not even $1,100 worth since the factory warranty. Give alot of thought to what you are paying for the actual risks involved. I'm not sure that the extended warranty is a good deal.

 

[wmzda5]

I paid CAD$1300 on my extended warranty upon purchase. The extended warranty only covers power train defects not bumper to bumper. Up to now I only have to do oil change for the engine and the MT, its been 3 years and the engine still runs strong, sometimes I think the extended warranty is a waste of money.

 

[nate0123]

I'd also look at what the warranty actually covers. I doubt it covers parts that are likely to need replaced in the first 100k miles. Certainly wouldn't cover wear items like brakes, clutch, etc.

It's probably just (a fairly expensive) insurance against catastrophic engine/transmission failure. Which IMO is pretty unlikely to occur.

 

[wmzda5]

I'd also look at what the warranty actually covers. I doubt it covers parts that are likely to need replaced in the first 100k miles. Certainly wouldn't cover wear items like brakes, clutch, etc.

It's probably just (a fairly expensive) insurance against catastrophic engine/transmission failure. Which IMO is pretty unlikely to occur.

even the standard warranty does not cover the wear parts such as brakes, shocks and clutch parts except if its within a few kms / miles after you bought the car. I needed to replace the rear driver shocks 3 months after buying the car, and I had the brakes serviced under warranty for squealing brakes issue within 3 months.

 

[Silentnoise713]

Unless you are in the profession of calculating probabilities and find a need for it, you are probably better off not buying ‘extended’ warranties. Actuaries have done their homework and 1) would only make this offer if they don’t see it probably that you’ll have problems or 2) they’ll charge an expensive premium/deductable to cover probability of stuff breaking. Like car insurance, the lower the premium the higher the deductable –you cannot win. It usually comes out cheaper if you were to pay out of pocket even if something were to break. Also make sure the coverage is for something relevant as the powertrain in modern cars can easily last well over 100K–unless you chronically neglect/abuse your car. Bottom line, warranties are in the business of making money, not give out a nice helping hand.

If don’t want to be bother by any car related hassles and want the convenience of going to the dealership, I’d say go for it -especialy if it is $1100. If you have any car related tools in your garage (or have a garage for that matter), I’d say skip it. My $.02.

 

[kyoshiro]

i think i paid 1700CAD~ for my 07 Mazda 5's warranty when i bought the car back for the full coverage for 5 years. For the past 3 years, i've had CV boot retorque, rotors refinished cuz of vibration during braking, and engine reflash.

 

[KBrian]

While I have purchased extended warranties in the past on my fords, I would reconsider on the Mazda. The only circumstance i would consider would be a warranty that covers lots of time (5 + years) rather than miles. Three years would find me at barely 30 000 miles-not much point in a warranty for that few miles.

Drop that 1800 bucks into a high yeild account and pay repairs out of that. IMO