Thursday, November 28, 2019

MOPAR® VEHICLE PROTECTION EXTENDED

Chrysler is trying to sell me the above-mentioned extended warranty, that goes out to 160,000 miles.  (Our 5 year, 60,000 mile warranty on the Jeep is about to expire.)  It has a $100 deductible and costs $142.97/month. 

I like extended warranties because repairing any substantial failure on newer cars is often huge.  But we recently sought a solution to an intermittent problem where all the dashboard warning lights (nio parking lights, no turn signal lights, no brake lights) come on but none are really a problem.  The 2017 Jeep Renegades had a recall on this problem but not the 2016s.  It clears itself by going into park.  It has happened twice.  Of course, they can't reproduce it, so they can't fix it.

Extended warranties from third parties are generally worthless.  This is the first long-term extended warranty I have seen offered by a manufacturer.  Coming from Chrysler, I am a bit skeptical.  Anyone have experience with this program?  $1700+ per year plus deductible means a very expensive covered repair (or multiple minor repairs) to justify this extended warranty.  For ordinary people, having a fixed monthly cost is probably a good strategy, but if you have enough in savings to cover a $1000 repair every year (or even $1500) without problem or serious pain, it may not make sense.

3 comments:

  1. $1000 dollars a year in repairs; yikes!

    Oh yes, I forgot, we drive Toyotas and use Mac's so we are not familiar with those kinds of issues:)

    Happy Thanksgiving Clayton.

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  2. That's a worst case scenario. Most unlikely until you get close to 100,000 miles.

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  3. The extended warranty companies have very good actuaries who calculate who is going to make money on this "deal," and it's not you.

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