IF Your Friend Was Buying A USED Vehicle Without A Warranty, Would YOU Recommend They Get An EXTENDED Warranty?

In many cases yes. If you are getting a premium vehicle ,with todays complex systems with lots of potential electronic issues if you can get one that covers that stuff I would say yes. If you are getting a Jeep Wrangler maybe not.

You lease premium cars and dump them. You don't buy them. The depreciation on premium cars is cataclysmic, but the lease is subsidized, so you win.

You never win with a lease... Its like renting a car long term. At the end of the day you will have to turn the car in and have nothing in return. By the whole car not half. With that said, I will buy coverage and recommend coverage for any German car. If Japanese, I don't recommend the warranty because they are so cheap and easy to fix. I don't recommend any American vehicles at this time as a daily driver and you don't need extended warranties on toys.

lease is for when you just want a new car every so often because ... why not. if you are cost conscious, long term, leasing is a loser.

i lease a couple and own a few... just depends.

This is antiquated thinking:

"You never win with a lease... you will have...nothing in return." @bw5011

Have you checked at how cars DO NOT hold their value? Do you realize that in may "buy" contracts, the person is upside down in the loan? Have you factored in how expensive cars are to repair once they are out of the warranty? The answer to ALL of these questions is "no".

Patently false statement:

"lease is for when you just want a new car every so often because ... why not. if you are cost conscious, long term, leasing is a loser." @zlives

See the above notes. You're being dismissive, pejorative, and judgmental when you say that people only lease because "why not?" and we can all see up your nostrils.

Long term--these days--buying is the loser. If you invest and multiply the hefty down payment you need to hand over on a buy to avoid being cash raped by the interest rate, you come out ahead on a LEASE. If you put a small amount down on a buy you get taken to the cleaners on interest payments.

If you're too lazy to work your money, so be it.

Jeeps are particularly Unreliable - and yes - I would cover them. Most of these extended warranties do not cover Electronic components outside of the engine - many are simply powertrain coverage - with Electronic coverage being an option. THAT is one option I would checkmark immediately.

First - if a car is offered WITHOUT a warranty - that alone is a red-flag. In most states there is a "dealer" minimum warranty of 30 days or some such - and by not even offering that - they are telling YOU trouble is coming - so I might tell MY friend NOT TO BUY such a car to begin with.

Please note - YOU do not have to buy what is legally a "service contract" (not a warranty) - from the person or company you buy the car from =- and I would first recommend that - BEFORE YOU EVEN LOOK FOR A CAR - call your insurance company to see IF they offer such - and you can get prices from them that generally are LOWER than a dealership UNLESS they really want to get rid of a car on the lot. THere are other "warranty" companies that you can deal directly with - talk to your MECHANIC to see which ones are the best to deal with and try them first. A lot of them only approve USED PARTS for many repairs for instance. Keep away from them.

Tom, you must have had a bad experience with a Jeep as you keep pounding on their reliability. Having had 4 Jeeps in the family, 3 bought new and 1 used (2 driven over 120K miles before selling) driven none of them ever had any reliability problems. Even my incredibly complex 2015 GC Summit diesel, which I was concerned about as the 2014's had some birthing problems, hasn't had a single issue in almost 50k miles. I have never used the extended warranty. I've know far more Mercedes, BMW, etc. owners who have had serious and expensive reliability issues than Jeep owners.

@Vette71 My second car after the worn out Mustang Grande wore out was an 89 Cherokee with 250K on the clock. It never failed to start and I drove it until the completely worn out vehicle was even more completely worn out. The engine burned oil and the transmission gave up the ghost at 295K. I was able to sell it for what I paid for it. Great vehicle.

Yes depending on price, terms and who stands behind policy.

READ THE FINE PRINT!

Most extended warranties do have the gotchas.

Here's an example: a lady brought her Expedition in complaining of transmission problems. We had to call the warranty company for permission to assess what was wrong. The vehicle had 100K miles and had towed something for many of those miles. After assessing what was needed [a replacement transmission] we had to call them back to see what they would cover. They covered a rebuilt with a 30 day warranty. If she took our internally sourced transmission with a two-year/30K warranty she would be 100% out of pocket. Moreover, the warranty would not cover a transmission replacement if the replacement transmission failed on day 31.

Also look at who is offering the warranty. Just because you got the warranty at the dealer does not mean a manufacturer is behind it. In fact, several manufacturers offer an extended warranty and then they sell the warranty to a warranty company. It's a scam of course because you believe you got the genuine Alfa-Romeo extended warranty only to have it sold to WarrantyWorld or WarrantyRUs the day after you sign the contract.

I do not allow the finance people up offer an extended warranty "up sell" nor any other up sells.

I have had very good experience with the geico mechanical breakdown insurance. The cost is very reasonable and they have covered multiple repairs I have had to have had done including a transmission replacement. Each time they paid the cost for nee parts as specified by the dealer without any headaches.

I had never heard of that. I will look into it.