supplementary warranty for lancer

[heiachi]

did anyone get the supplementary warranty for the lancer ralliart...the 5 yr new vehicle warranty can be upgraded to 10 yrs/160000 kms (i am not talkin bout the powertrain warranty here:) essentially having a bumper to bumper warranty for 10 yrs...is this worth doing?

[ar_ken]

depends on how much is the coverage, and the terms (read fine prints carefully) of the coverage. If it's not too steep I'd say get it. Peace of mind is priceless.

And of course, depends if you are going to drive your car for a long time, or would you sell it maybe a few years down the road. If the warranty is transferrable, it can be a selling point of your car too when its on the market.

[pandaharo]

Definitly read the fineprint, some will only warrant 1 item ONCE and we all know when things break they break more than once. Others will only honor it if you service your car AT THEIR SERVICE SHOP. If it's really bumper-bumper probably ~1000-1500 is reasonable since the powertrain is already covered for like 10 years right? Make sure labour charges are included.

[ES_Revenge]

Along the same lines as what the others said... Just pay attention to the details of the warranty plan. Is it a Mitsubishi factory offered warranty or a dealer or 3rd party warranty insurer? Preferrably it should be from Mitsubishi. Also what about the deductible? Is there one? You may end up having to pay a ~$100 deductible per incident during the extension period, so watch out for that. Something like that may make it less worth it.

Also 160,000km isn't that great for 10 years, depending on your driving habits. Typically you want to see 20,000km per year of warranty. If you're sure you're not going to do over 16,000km/year then it's okay, otherwise it's better to think of it as an 8 year warranty.

The other thing is to balance the cost of the warranty. Do you think there is a good chance there will be any/enough problems in that period from the end of the normal warranty to 160,000km for it to be worth it? Weigh that against investing the same amount of money over 10 years in perhaps a GIC, mutual fund, etc. and how much money that money would make over those years. A lot of times you'll find that investing the same money and making your own personal "extended warranty investment" will net you better results. Plus the money you haven't needed to spend will still be there when the 10 years is over, with the warranty the money is gone even if you never have to make repairs.