S90 Extended Warranty purchase valuable or notad?
Been a Volvo owner my entire life and now have a 2017 S90 Momentum, which it a great road trip vehicle. However, with all of the newer highly technical features and the higher than average trips to the dealer for fixes covered under the warranty set to expire this month, I'm wondering if the $3k+ price at VOLVO for an extended warranty is worth it. It is a very low car and if back problems worsen I may have to go back to the XC60 so I don't know if a 6 year warranty is a good choice. Thanks for any feedback on experiences. Volvo2017$
extended warranties are insurance policies which are priced based on the probability of the total cost of repairs plus margin for the insurance company. I'd look at the term of the policy, coverage then come up with a monthly cost. Add that to your expected cost of ownership of the car (ie depreciation, operating costs, standard maintenance) and you'll have a basis to compare to a new car or another used car. Keep in mind, the insurance policy is saying they expect the monthly repair costs to be LESS than their premium and you are betting the repair costs will be more than the premium. If you are not a DIY type and prefer dealer maintenance, then read the coverage carefully. I'd say the intangeables - how you drive, where you drive, how much you drive and how you service the car can be important decision factors here.
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