Is an extended warranty worth it?
 

Just bought a 2016 Honda Fit last night. I turned down all the extra stuff they try to throw at you but they got me with the extended 8-year warranty and how it covers all this stuff, yada yada.

I'm feeling like a sucker and wondering if I should cancel -- if I even can.

Any thoughts?

I bought a Fit back in 2010, didn't get the extended warranty and have experienced ZERO problems with my car. I'm at 130K and the car has been super reliable (with routine maintenance, of course). I'm of the opinion that extended warranties are unnecessary. But that's just my opinion.

All depends on you In my own opinion. Are you a hands on type of guy? If your knowledgeable and can change an oil and rotate tires and change parts if they break then you should be fine without the extended warranty. And I am not talking about changing a transmission or an entire engine leave that to the professionals (that usually don't break unless you beat on your car) so again like I said up top. If your good with your hands you don't need it. Good luck.. I got a 2016 Fit because of the reliability and fuel economy and I am not looking to touch anything unless it needs to be changed oil/filters/tireRotation and hoping I keep my modification bug on check :ohnoes:

u are a sucker, cancel it. you will get a check in the mail.. or if there is a lein, ur institution might get the check and deduct your loan. not sure about leases. i NEVER buy extended warranties and tell the dealer upfront im not interested in the misc they throw at u unless it is for clearbra & tint. that i would be interested in their offer to see if it is competitive.

They work if your buying a car with extremely expensive issues, like SMG tranny BMW M3's that almost all need a hydraulic pump by 6 years of age, its up to a $4K adventure...

Or if you buy a new diesel, and have to change the injection pump...


Otherwise just put the money from the plan in a decent little investment accounts at somewhere like fidelity and if you don't have to fix the car by the time you wear it out theres your down payment for the new one waiting...