I just bought a brand new Mazda CX-5 and I'm loving it so far!! The finance manager tried to sell me all the extra insurance really hard! I didn't buy any but one of the packages might be something I'd be interested in.

• The plan covers any paint nicks, scratches, or chips
• Dents and dings to the car (usually caused in parking lots)
• Minor tears or stains to the leather interior.
• Headlight reconditioning
• Any cosmetic damage to the alloy rims.

The plan lasts for 5 years and I can make 2 claims per year or 10 total for the life of the plan.

Cost is $699.

What would you do? Do you think it would be worth it?

 

My dealer tried to sell me a package like this as well. I wasn't buying.


No, I don't think that it's worth it.


YMMV

 

Most dealer damage/extended warrantee plans, if not all, are a rip off. Knew a girl that sold them at dealership. Remember, if it sounds too good to be true it probably is.

 

All the "insurance" they try to sell you is where they make their profit.

If you have paid claims, they won't have profits.

Good luck getting anything handled.

 

Right, good luck getting the insurance work done on time. They will keep your car for a week to discourage further claims.

 

Actually, they won't keep my car in the shop. They said that all I have to do is call an 800 number, and they will set up a time to come to me within 24 hours to do the repair. Even if I'm at work, they can do the repair to my car while its sitting in the parking lot.

Does that change any of your minds?

 

Sarah,


If you didn't get our drift by now then you won't. Most, if not all, of us think this 'insurance' is a pure profit maker for the dealer.


Clearly you want to buy it so go for it.


Good luck.

 

Not only is buying extra warranty or other insurance from the dealer a "No" in my book, it is a "Hell no!" You'd be far better off taking the money and putting it in a special account, and draw against it if/when a "covered" repair is called for; nine times out of ten you'll have money left over when you sell the vehicle or when the original term of the policy was set to expire, whichever comes first.

 

I actually said no to all the extra insurance at the dealership. I just started second guessing myself. But it helps to get all of your input and it makes me feel confident in my original decision. Thank you all!

 

Good decision.

Back in 1988 I sprang for an extended warranty; it didn't even come close to paying for itself. I decided there and then to place the amount of money new car dealers were trying to extract from my wallet into a separate savings account. Since then my wife and I have purchased 12 new cars; the account currently has just over $20,000 in it. Funny thing about that account, it has been used to pay for a few repairs, most notably a transmission, which would NOT have been covered by the warranty they tried selling us because said warranty would have expired 9,000 miles before the transmission failed.