Re: Extended Service Plans - Opinins and experiences
I won't tell how old I am but let's just say I have several "experience" discounts available to me when booking hotels. In my time on this rock, I have not purchased a single extended warranty on anything. Not one time. I have also never had a product/vehicle fail during said warranty period to an extent where whatever I've spent on a few minor repairs exceeded what I would have spent on the warranty. The vast majority of times, I've had zero failures. What I'm getting at is I've saved enough over my lifetime by not buying extended warranties to probably pay for my last vehicle purchase.
Like many things in life, it's a calculated risk. Those who have experienced the extremely rare cases where their vehicle purchase turned out to be a lemon will tell you to always buy the warranty. Their decisions and advice will be based on their experience and perception. Even though those cases are statistical anomalies, for those who experience it, it is very real and will shape their decisions. Then you have my experience and advice. You'll need to make your own decision.
Just remember, the companies that sell extended warranties would not stay in business if they had to pay more claim dollars than they take in in premiums... The statistics are always in their favor, not yours.