Quote:
Originally Posted by Isaac Zachary
But getting back on track with the observation, how much investigation is enough? Of course investing nearly $20,000 or more into something means you'll want it to last a long time. But Ford says 150,000 miles, unless other circumstances, then it should be 30,000 miles. Well, now we need to do some detective work to see if 1) how often it was actually changed and 2) if it wasn't every 30,000 miles, is there proof the car was driven only on flat highways? And that's just one part of the whole car.
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The time to do that was before buying the car. Now your friends need to make sure the extended warranty they likely paid thousands for actually pays for the new transmission.
I'm not one to ever buy extended warranties - that money is much better saved in a general emergency fund instead of spending 20 - 30% of the cost of a likely repair on a warranty. The only time they make sense in the short run is if the item is essential and the person absolutely can't pay out of pocket for the repair. Warranties are insurance and like insurance they are paying for large losses that can't be covered out of pocket.