This is far out there, but I'm always amazed at the knowledge some people on this board have.
I'm buying out my lease on my Jeep. It was a three-year lease. The car is in excellent condition, and I put less than 8,000 miles per year on it.
I'm talking to the finance company now, and it's trying to sell me an extended warranty, GAP coverage, and a cosmetic/road hazard protection. I already ruled out GAP and the cosmetic/road hazard protection because I'm fairly well covered in both areas via my insurance policy.
The extended warranty is for 6 years or 100,000 miles and will cost me approximately $1,700. Each repair has a $250 deductible. It is the Total Care package listed here: https://easycare.com/vehicle-service-contracts/
Obviously, it seems pretty extensive, but how likely am I to rack up $1,700 in non-accident expenses? Then, the $250 deductible is going to make it even harder to break even or come out ahead, obviously. Lastly, since I've been the only owner, I generally know the car is in good condition, and it's not the same as buying a used car from a dealer without knowing if it has major flaws.
I'm leaning against it but would love to hear some opinions from anyone who has been in a similar situation or is more knowledgeable about the industry than me.
I'm buying out my lease on my Jeep. It was a three-year lease. The car is in excellent condition, and I put less than 8,000 miles per year on it.
I'm talking to the finance company now, and it's trying to sell me an extended warranty, GAP coverage, and a cosmetic/road hazard protection. I already ruled out GAP and the cosmetic/road hazard protection because I'm fairly well covered in both areas via my insurance policy.
The extended warranty is for 6 years or 100,000 miles and will cost me approximately $1,700. Each repair has a $250 deductible. It is the Total Care package listed here: https://easycare.com/vehicle-service-contracts/
Obviously, it seems pretty extensive, but how likely am I to rack up $1,700 in non-accident expenses? Then, the $250 deductible is going to make it even harder to break even or come out ahead, obviously. Lastly, since I've been the only owner, I generally know the car is in good condition, and it's not the same as buying a used car from a dealer without knowing if it has major flaws.
I'm leaning against it but would love to hear some opinions from anyone who has been in a similar situation or is more knowledgeable about the industry than me.
