Well, well, well. Very interesting discussion. I have to say, I agree with a lot that has been said about this, and, what has been discussed on other threads. I am not an expert on this, but, from experience…
First off, not to blame the little lady, we bought 3 Hondas since 2005. 1 Pilot and 2 CR-V’s. My wife persuaded me to buy the extended warranty for each of them. Let’s just say she made me an offer that I couldn’t refuse.
How many times did we make a claim on them? NONE! Zero, zilch, nada, etc., etc., etc.
So, about $4500-5000 wasted.
Currently, with our 2021 Telluride, the 36 month has expired. NEVER HAD TO TAKE IT IN FOR ANYTHING. Do we have an extended warranty? Yes. See above Honda paragraph for why.
Bottom Line. Never had to use them.
But, now for the rest of the story. A salesman, on this forum, said that in his opinion, the reason to buy a warranty is “Peace of Mind.” Or, better put in the form of a question, how important is ‘Peace of Mind’ to you?
So, upon purchasing the Telluride, I declined the warranty offered by our finance guy, and after facing the astonishment from my wife, I negotiated a deal. I told her I would look into it. So, I priced Kia warranties at various dealerships, and found one (Muncie, Indiana), that sold the exact same warranty, with no deductible, for $500 less than the next cheapest place. I bought it.
So, I satisfied my wife’s desire for ‘peace of mind’, while not being screwed as badly by “the Man”.