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Just wondering if the Security + warranty is worth the expense and if mostly if it really covers the important and expensive stuff? It seems like I'm going to keep my 2016 a good bit past the factory warranty expiration date next year. The truck will have low miles and I service it regularly, it's a plain Jane, 4 cyl, auto, 2wd with power nothing. I shopped and know where to get a good deal online price wise just need to know if it's decent coverage? Thanks
 

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Extended warranties all depend on the vehicle, the price of the warranty and what it is going to cover.

I got one when I bought my Truck. It is a Pro-4X, so it has all the bells and whistles. The warranty was not all that expensive. If it was more money and or I was buying a 2wd/base model truck, I probably wouldn't have gone with it.
 

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Put the warranty cost in a separate place and add money to it as time passes and you’ll have enough to cover a decent priced repair but if you’re like me nothing went wrong in the entire 60 month 100,000 mike term so I got zero benefit from it. Years ago I had an explorer and dealer said if not used I’d get a full refund, they kept their word and wrote a check.
You’re betting a vehicle will break and the manufacturer who sold the warranty is saying it won’t.

Clint
 

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Thanks,

That's kind of what I thought after I wrote it. If it was loaded I'd think more about it as there's plenty of drivetrain warranty left.
 

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My rule of thumb is if I think I'll need the extended warranty... don't buy it.

Anything manufactured by modern methods can have a defect, but if it lasts for the
first year, it should be good. I'd never have bought the truck if I didn't have
confidence in it's track record. Same with computers, TVs, power tools... if I think
I'll need the extended warranty I won't buy it.
 

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Extended warranties don't exist to benefit customers - They exist to make a profit for the people selling them.

The only way for a company to make a profit on an extended warranty is by charging more for the warranty than it will pay out in claims.

Basically, they win by making sure that you lose.

They know exactly how much they pay out in average claims for any model they insure - and then they set the price of their warranty well above that amount in order to make a tidy profit.

They are a HUGE money maker for car dealers, which get a nice cut of every policy they sell. That's why dealers push them so hard on customers: They're pure profit.

Buying an extended warranty is like gambling in a Las Vegas casino: Even though someone occasionally beats the house, most folks don't - because the odds are stacked heavily in the house's favor.
 

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Consumer Reports recommends what Clint already posted: get a savings account for repairs and take what you would spend for the warranty and place it into the account. By the time the factory warranty runs out, you should have a descent amount in the account which should cover most repairs. You just have to remember to makes those deposits or, better yet, have them direct deposited from your paycheck.
For a year, I left Nissan and worked as an independent mechanical inspector for various extended warranty companies; it was my job to go to the repair shop where a claim was being submitted and take pictures and assess a cause for the failure and report it to the insurance company, who would make the determination if the claim was covered or not. There are a lot of warranty companies out there outside of the vehicle manufacturers and some are good and some are terrible.You need to make sure you read the fine print of the warranty coverage and know what's covered and what's not. Many plans don't cover seals or damage caused by failed seals, which is a large percentage of the failures that occur; it usually eliminates most automatic transmission failures outside of a hard part failure, which seldom occurs by itself. It also eliminates most turbo and hydraulic system failures, like brake master cylinders and calipers or power steering pumps and gears.
There are also different plans. When I was a tech, Nissan's warranty had a gold plan, gold plus, silver plan, etc. There were different deductibles and some covered a rental vehicle and some didn't. If you put a lot of miles on a vehicle, they usually don't pay off as most don't cover more than 100,000 miles, which most vehicles can last without a lot of major problems these days. As said, it's a gamble either way. One more thing... If you do get a warranty, make sure you keep up on your services and keep all receipts for the work done!
 

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I reduced all my warranty stuff down to what basically covered oil changes until the OEM warranty ran out and since I drive a lot it was worth it for me to do that at the time because when you drive for 6 or 7 weeks and hit the recommended 5000 mile oil change your gonna be racking up oil change bills, especially if you run synthetic all the time. Anything else I figured was a waste since it was a Nissan. Now the irony is after the first oil change the stealership tech forgot to refill the oil and torched my motor because they drove it into the service pick up area and left it running with the AC on for about 10 to 15 minutes until they came and got me. It never smoked, or spewed the radiator, but when I walked to the truck I could tell it smelled funny, and as soon as I leaned in the door I could see the dash lit up like a chrimstas tree so I just stepped away and tapped the tech on the shoulder and let him know something was wrong before I even set foot in the vehicle. After they put the new motor in it I got 100,000 mile warranty and free oil changes for the length of that 100,000 miles, so I felt a little rubbed that I had spent that money on the extra warranty. I tried to talk them into tacking the EW on the end of that 100,000 mile grace period but I knew it wasn't going to work, lol... Now I am sitting at just over 99,000 miles looking at the price of the Mobile 1 Extended Performance and a Mobile 1 filter and I know I'll be getting my last courtesy oil change this Saturday. I guess around 40 bucks for both isn't too terrible a price to pay for what I have gotten out of this truck.
 

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Check what your insurance company offers for mechanical breakdown insurance. I have a cheap add-on through GEICO that covers any repair until 7 years / 100k miles after a $250 deductible.
 

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I don't think it's really necessary on our trucks. Now if you bought something like a Range Rover, then I would buy an extended warranty.

A car guy named Doug DeMuro bought a Range Rover from CarMax with an extended warranty. He paid around $3,900 for the warranty and when it was up it had paid out over $15k in claims.

I put about 120k on my '06 SE before I traded it in and never had any issues with it.
 

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I've never had to use a manufacture warranty, but I could only imagine on manufacture or extended warranty that you better have all maintenance on record, and have done everything by the book.

As a car guy who usually does all his own vehicle work, I feel like even if I have receipts of new fluids/ parts, etc and such, they would still give you a hard time making a claim.

We're also talking about a 2016 on a vehicle they have been making since 2005. For the most part, most kinks have been worked out. I didn't buy extended warranty on my vehicle, I don't see it benefiting me.
 
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