15 Year/500,000 Mile Warranty???

Messages
113
Location
Northern Michigan
The RV industry has a similar gig called RV Warranty Forever®...through Camping World I believe. As others have mentioned you need to do the recommended service, and what exactly does "forever" mean???
 
Messages
2,571
Originally Posted by KGMtech
Well if this place is still in existence in 15 years, all might be fine. 95% of the population would be tired of the car after 6 years, so their risk is low.
This is the key for the dealer. Not to call you out but for many 6 years is a loooong time. In modern society the newness wears off quick, especially coupled with the heavy payments most are making. I am keep it 10-12 years kinda guy and I go through the ehhh, maybe I'd like a new xxx every now and then.
 
Messages
1,202
Location
Missouri
I have done many dual clutch warranty repairs under cpo powertrain warranty for the Focus/Fiestas that did not get the extended warranty coverage through the customer satisfaction program. There is a local dealer chain that does the powertrain warranty for life. I believe the only store they have left is Kia, previously there were a Ford, GM and Chrysler locations as well. In order to maintain the warranty you have to use their maintenance schedule at their dealerships. They use BG products and the official BG schedule which is basically every fluid every 30k and fuel/air induction cleaning service every 15k.
 
Messages
34,937
Location
NY
Originally Posted by csandste
For all the reasons mentioned I would be repulsed by any dealership that made the offer. They're trolling for stupid people.
My feelings exactly!
 
Messages
7,735
Location
MI
Yea, I agree with everyone - if it looks too good to be true...... But, did everyone miss that the OP stated " Customer is required to perform all scheduled maintenance per manufacturer recommendations", NOT dealer recommendations. It wouldn't be too difficult to estimate the mfg. maintenance schedule cost over 10 years. A smart person in the right circumstances might be able to make this warranty play out well. Unless we see the fine print, we are all speculating.
 
Is anyone in the audience an actuary? Look at the facts, the average buyer will sell the car in 6 years, and I guess we all agree the warranty is not transferable. The high percentage of cars will make it 6 years without a major issue. Bingo. That warranty fee money is banked by the dealership/ warranty company. For the other 11.4- 6 =5.4 years a certain percentage will keep their cars to the average of 11.4 years. Most will not have engine or transmission problems. Bingo number 2. Meanwhile cars are getting wrecked and written off. Bye-bye warranty claims on those. I don't know what the statistic is for original owners who keep their car beyond 11.4 years ( I'm one) but it's not a large number. Now take all the facts, set a price, and go into the warranty business. All the warranty company has to do is politely honour claims and everything runs well.Too bad there are many unscrupulous warranty companies that get greedy.
 
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Messages
6,597
Location
Wet side WA
Originally Posted by Timo325
OP, You realize the dealership will make quite a bit of money off of servicing your vehicle for the next 15 years? That's not even discussing an owner keeping their vehicle for that long..
Since my Toyota dealership makes very close to two dollars an hour in labor they could [censored] near afford to give you those cars if you contracted all your maintenance to them.
 
Messages
1,411
Location
Western Canada
New car buyer ... I LOVE this car, and I'm gonna keep it forever ! That 15 year warranty sounds AWESOME ! 1 year later ... car is going in for service. Gotta keep it in tip top shape. I LOVE this car ! 2 years later ... man, another door ding. Is that a new scratch ? What is that rattle ? I need to service the car again ? That's 3 times this year ... 3 years later ... In for service again , LOL. What exactly do they do ? I need brakes, already ? The tires are getting low on tread ? Is that a dent ? Jeez, another rattle. Man, I curbed a wheel ... ! 4 years later ... HOW MUCH is the major service ?!?!? You're kidding, right ? These rattles are driving me crazy. The paint looks terrible in the sun. This car is becoming a money pit ... maybe I should just get a new car. That would be wayyyy cheaper, and nicer too ... The dealer snickers ... and says, sure, we can roll that negative equity into the new loan. Don't worry about it ... we also have a GREAT warranty program !
 
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Messages
35,963
Location
ME
Wonder if the contract covers "lubricated parts" but not EVAP systems, wiring glitches, structural rust...
 
Messages
1,445
Location
Perris, CA
Originally Posted by eljefino
Wonder if the contract covers "lubricated parts" but not EVAP systems, wiring glitches, structural rust...
Depends on how big the oil leak is, whether or not those get "lubricated" LOL
 
Messages
10,835
Location
Phoenix
Originally Posted by demarpaint
Originally Posted by csandste
For all the reasons mentioned I would be repulsed by any dealership that made the offer. They're trolling for stupid people.
My feelings exactly!
Agreed, but at least it's a step above the tru-coat paint sealer and interior protectant they add a $3,000 window sticker on for. And they wonder why we are skeptical of dealers on this site.
 

Ws6

Messages
3,218
Location
South Central US
Originally Posted by exranger06
You'd have to drive over 33k miles per year to accumulate 500k miles in 15 years. Who drives that much? If you drive a more realistic 12-15k miles per year, you'll have between 180-225k miles after 15 years. Most people won't come close to 500k, and the dealer knows it. But they get to make people think, "Ohh wow 500k miles! That's unbelievable/that's the best warranty I've ever heard of! I can drive practically forever without worrying about repairs!" Except they don't realize they won't come close to that mileage, and they don't read the fine print, and they don't realize the amount of money they'll spend doing all that "required" maintenance at the dealer. Or at least the dealer is hoping they won't think of any of that. And the dealer knows that no matter how good the warranty is, most people will trade the car in after 5-7 years anyway for one reason or another, at which point the car will probably have less than 100k miles and it'll probably still be under the factory warranty! But the dealer STILL made a ton of money because the first owner brought it in for all of that "required" maintenance to keep that incredible warranty intact.
I bought my car new, in late Feb this year. I have a little over 26k miles on it. What do you do, just look at yours or something? Drive! Also, my girlfriend has a car with such warranty except its unlimited miles and lifetime. They allow you to service it anywhere, just report it back to them so they log it, and keep the receipt. The only services required are in the manufacturer's manual for the vehicle, at the specified intervals. No weird stuff.
 
Messages
16,928
Location
NH
Originally Posted by Ws6
Originally Posted by exranger06
You'd have to drive over 33k miles per year to accumulate 500k miles in 15 years. Who drives that much?
I bought my car new, in late Feb this year. I have a little over 26k miles on it. What do you do, just look at yours or something? Drive!
I used to do about 32k/year; I think I'm down to 30k now. Living 54 miles from work does that! I drove my last car to over 300k before I got rid of it...
 
Messages
2,187
Location
Arizona
If you pay someone else to perform your maintenance and service work anyway, what's the down-side? If you _also_ drive 35,000 miles per year, then the 500,000 mile part is attractive. If you drive close to the 'average,' then the warranty is basically a 150 - 200,000 mile warranty. Still not bad if you pay someone else to perform the service & maintenance work anyway.
 
Messages
6,318
Location
New England
Originally Posted by zzyzzx
Originally Posted by mcrn
Also look to see if they can total a vehicle if the price of the new transmission or engine is greater than the value of the truck.....like insurance.
I would assume that they all would to total a vehicle that needed a repair that exceeded the value of the vehicle.
My MIL was blessed by Ford with their garbage suspension on the Windstar. Instead of fixing her 200k vehicle that was so neglected she got a $2400 check for recall (suspension failure) for it for something she drove 160k 7yrs and paid $5000 for. Guessing warranty companies eventually weasel out.
 
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Messages
4,420
Location
Guilford, CT
Originally Posted by Ws6
Originally Posted by exranger06
You'd have to drive over 33k miles per year to accumulate 500k miles in 15 years. Who drives that much? If you drive a more realistic 12-15k miles per year, you'll have between 180-225k miles after 15 years. Most people won't come close to 500k, and the dealer knows it. But they get to make people think, "Ohh wow 500k miles! That's unbelievable/that's the best warranty I've ever heard of! I can drive practically forever without worrying about repairs!" Except they don't realize they won't come close to that mileage, and they don't read the fine print, and they don't realize the amount of money they'll spend doing all that "required" maintenance at the dealer. Or at least the dealer is hoping they won't think of any of that. And the dealer knows that no matter how good the warranty is, most people will trade the car in after 5-7 years anyway for one reason or another, at which point the car will probably have less than 100k miles and it'll probably still be under the factory warranty! But the dealer STILL made a ton of money because the first owner brought it in for all of that "required" maintenance to keep that incredible warranty intact.
I bought my car new, in late Feb this year. I have a little over 26k miles on it. What do you do, just look at yours or something? Drive!
I drive about 15k miles per year, which is above the national average of 13,500 miles per year. I drive 20 miles each way to work. I knew people were going to chime in and say "I drive 35k miles a year.." yeah, I realize that many drive that much, but the majority of people drive roughly half that amount or less.
 
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