Why Not to Buy an Extended Car Warranty (Scam)

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The reason is the same you get warranty offered buying anything electronic at Walmart. It’s an opportunity to upsell.

18 months after starting my Lubrico warranty, it will not be extended . No reason just a decision. You have to read the fine print.

STOP YELLING AT ME! AHHHH

I fckn love you Scotty. Glad to see you’re channel is so successful brother - thanks for the help & creative content flow

STOP YELLING AT ME!!

You must have been denied a claim from an insurance company.

Thanks Scotty. I just now opened a letter from the dealer to buy an extended warranty. It’s going in the trash can of course.

I had Protect my Car after market they SUCK!

They convinced me to pay take a policy for 4000 which I did but after seeing this video am def going back tomorrow for my money.

Extended Warranty’s only kick in when something BREAKS DOWN. If you have a trustworthy mechanic who looks after things BEFORE Break Down occurs your “Warranty” won’t pay off anything. Say, for example, you notice a Clunking at the front drivers tire area; your mechanic tells you that the tie rod end needs to be replaced. “Not Covered”; it didn’t BREAK. So, for the warranty to pay you have to let it break, tow it to an area mechanic you don’t know from Adam and wait a week or more for your “Warranty” company to decide whether to cover a portion of the cost. So, you’re going down the highway at 65mph and the tie rod breaks, your front tire goes horizontal. Are you alive to make a claim?

Timing Belts are another Warranty Trap. Routine Maintenance is not covered and these belts should be replaced every 100-120k miles. If it Breaks and you’re going 65mph on the highway, consider your engine toast. Most warranty companies won’t cover the cost of a new engine because “you didn’t maintain the old one”; and Maintenance is not covered. (BTW, Timing Belt replacement can cost $1200 and up)

I purchased insurance, it was a scam, I went to a recommended mechanic they gave me about a little over a hundred off of about $100, didn't fix it, I fixed it myself a year later with a $20 part. They can't tell you how much they'll cover. BMW dealer insurance has been worth it.

We bought an extended warranty on our 2017 Mercedes GLS-450 and here we are in 2024 (almost) and not one single thing has gone wrong with that car in 7 years. Total waste.

Wish I would of been hip to this 6 years ago 😂 I don’t plan of buy non of that crap going forward

Scotty must work for Toyota Honda.

Serious ask… If you are looking to purchase a 2020 GMC with a 3.0L diesel and 100K Miles, don’t you think a $4k 4YR/100K mile warranty would be a smart move?

Not all warranties are a scam, just most of them.

Thanks Scotty, this video really helped me. I bought a 2020 Rav 4 XLE at 36,000 miles. I’ve been getting so many warranty mailers nearly threatening me that my warranty is almost up and I better contact them or else the price goes up. Instead I’m going to save that money, put the repairs on a credit card if I have to but no way I’m giving that money to an insurance company rather than giving it to a competent mechanic instead!

I never went for the warranties on anything , but I bought a used Honda from a friend that came with the warranty and the trans went out at 40,000 mi. Honda put a new one in for free.

Todays date 9 / 29/ 2023 of this commercial running across my tv screen. Yesterdays news report: YOU MAY NOT BE ABLE TO GET PARTS FOR YOUR CARS IF THEY BREAK! PARTS SHORTAGE! So...they want your money knowing you may not be able to get the parts but if you could pay them anyway it would be greatly appreciated by this company! READ THE ROOM PEOPLE!

I learned the hard way these "warranties"(cars, or homes) have more excluded conditions than covered items. I once bought one one years ago I declined several times and the dealer finance guy dropped the cost about 45% QUICKLY so I think they still got a smaller commission. So buyers should negotiate a little as Nancy said: "Just say NO". I never buy them.

Thank you Scotty!

I have seen Scotty on car shows on the educational and car-fixit channels for many decades. He knows what he is talking about.

Bought my new Ram a little over 2 years ago and bought the extended warranty. The finance person started off with a price of either $2000 or $2500. I told him I didn't want it because of the cost. He said just a second I might have a coupon for less. Sure enough he did and I got it for $1500. My ac compressor went out a few weeks ago with 38000 miles . My warranty with Apex says that if I live within 40 miles of the dealership where I bought it from I need to take it to them. (I've got conflicting opinions on this). Anyway my truck has been at the dealership for a week and and a half for changing out the ac compressor which is about a 4 hour job. Now Apex has to come out and inspect
the part. What a crock of you know what.

What about aftermarket warranties?Carshield,Endurance,etc.I made mistake of buying an Endurance contract,and they wont fix anything not covered in contract.I can understand they dont cover wear items/service items,but they are all scams!

How dare they make money? Right lol it’s a job what are you expecting? Also I’ve used my warranty 2 times and didn’t pay for all the work.

I like this guy. He’s real.

Those extended warranties are nothing but lottery tickets in a sense! If your vehicle breaks down and you take it to a mechanic all you are doing is rolling the dice hoping that part in question is covered ? BUT if they send out an inspector and the inspector deems the covered part wasn’t maintained! Oh yeah the inspector is not your friend! You will be responsible for the full cost of repairs diagnostic fees and whatever else that mechanic conjures up as fees! Trust me mechanics will get creative with mechanical cost!

I wish i got paid 50 pct of warranty i sell

I did buy a Toyota and an Ally the year warranty. Generally i don't believe in warranties but the next few years I'll be so busy with other (more expensive) things a few grand on a warranty not to think about my car is more than welcomed.... But next to around, probably won't do it....

I always tell people to avoid using Mom and Pop shops like Scott's for repairs because they literally exist to keep you coming back for repairs. At least with the dealership they have other stuff to sell.

You are actually 100% wrong about the half of the commission. They actually barely get anything on those plans because dealers sell them double market value. A vehicle service contract by a organization like endurance or carshield is 5000 dollars and they only make me like 300 dollars every sale

This is very true👏

I just got shafted by car shield! I know I should’ve read the contract and the details they sold mine to auto shield in Florida. My AC went out I wanted to pay a $2000 out of pocket.
The car shield warranty is total garbage!

Yes I just got ripped off by Endurance Car Warranty. They are thieves. The whole thing is a SCAM. They do not want to pay for anything. On top of it when you call customer service you realize these people are rude and nasty.

Same problem but with a mustang 5.0L piston slap😭

I actually got a great extended warranty on a new Honda thru my insurance company, GEICO, and perhaps most people don’t need it… but it was well worth it!!
It was far cheaper than the dealer & they ended up fixing a major $2k problem at 90k miles- 2x more than I paid for the policy!!

Thank you, Scotty, you answered my question! wasn't gonna buy it anyway but you proved my point.

How does it feel like one consistent rant when he changes settings every 10 seconds, impressive

So carshield is just a scam

Warranties is just their way of saying, "we trust that you'll spend more money than we trust the reliability of our own vehicles."

i got one for my car but it also had 115k miles so it was worth.

Dealers don’t stand by their warranties because they don’t administer the policy and have no say in coverage

My husband and I got an extended warranty on our car, after going over the fine print as closely as we could.. We've benefitted greatly from it, our claims have been more than the insurance cost and they've never fought us/our mechanic in a claim yet either 🤷 we still have a few years left on it too 😂

100% untrue. I’ve had many third party warranties on used BMW’s. Great.

I got a little ford car back in the day and I got the extra warranty. Now I was a young father of two and the wife never worked. My transmission was going out in the ford it was over the factory warranty but I got a new not a rebuilt transmission for I think it was around $200 now the transmission was about $1500 new without the warranty so tell me how is it a scam

I bought a 2012 Toyota highlander with 90k miles. I bought the extended warranty through the dealer. $35 extra a month for 3 years or 36,000 mile coverage.
4 months after buying the Highlander my transmissionade a funny noise, I brought it in and for nd out my trans was going bad. It was covered under the warranty. It was a $7k transmission and then me nths after that my wheel bearing went bad and it also paid for both wheel bearings to be replaced as well.
Well worth it and super easy to use!

Recently purchased a 2015 ford fusion energi with 93,000 miles for $11,250 after trade-in and noticed they charged me $3,600 for an extended warranty, what would you advise here Scotty?

Toyota told me they don't make their screens so it is not reliable as their engine or transmission.. I am buying a 2023 sienna and thats what the warranty guy told me