Extended Warranty?

[BlioKart]

I spent a few hours with my sister today buying her new car. As always they start out on warranty, service contacts, paint protection etc. It got me thinking I suppose Elio will offer similar items?

I am not a big fan of these add on's and the associated cost. But I can see having a power train warranty beyond the 36,000 miles(considering its a new product and not a Toyota) that will be offered. What do you guys think?

 

[Jayne Shelby]

Waste of money if you ask me. If you maintain your vehicle properly there should be no problem.

 

[goofyone]

I spent a few hours with my sister today buying her new car. As always they start out on warranty, service contacts, paint protection etc. It got me thinking I suppose Elio will offer similar items?

I am not a big fan of these add on's and the associated cost. But I can see having a power train warranty beyond the 36,000 miles(considering its a new product and not a Toyota) that will be offered. What do you guys think?

I thought I had seen something about this before and found this on Facebook. Elio answered they are looking into it but I would be more surprised if they did not offer them.
Personally I am not a big fan of the extended warranties however I know some people are more comfortable with them and also know some people buy them as they can pay them over time because they do not have much extra cash on hand to self insure themselves in case of a major issue.

Silas Sunday‎ Elio Motors
February 1 ·
Elio motors. Will we have the option to purchase extended warranties?

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• Top Comments
  Tim Gillespie likes this.
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  Elio MotorsThat is something we are looking into Silas. Would you buy one assuming the price is right (like everything we do will be)?
  Like · Reply · 3 · February 2 at 9:07am
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  Silas SundayYes I would. I have purchased the extra coverage in the past on new vehicles and not on others. Depends on price and coverage extension. Thank you
  Like · Reply · 1 · February 2 at 10:18am
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  Ted EdingerFor sure I would [buy an extended warranty] because I will "use up" that first 36,000 miles in about 18-24 months !
  Like · Reply · 1 · February 2 at 10:21am

https://www.facebook.com/ElioMotors/posts/674155819315960

 

[ClubJoe]

Being retired I do not put much mileage on my cars. After the 3 years are up on the stated warranty I will pass on an extended one and do all my own repairs. I know there may be some bugs that will come up on the new engine and drivetrain once people start driving and putting on high mileage. I'm sure Elio will take care of them in the 3 year warranty.

 

[Lil4X]

None of these "add-ons" are worth the money. You can buy that extended warranty from any number of sources long after you purchase the car. Basically, what you are paying for is an insurance policy. Check with your mechanic and see which companies he likes to work with and pay up quickly. My Lexus service adviser didn't recommend the standard Lexus extended warranty - but a considerably cheaper one from an insurance company. Lexus always fought the service department over coverage and rates, while the independent company simply paid the bill.

Paint protection is simply a good detail and a coat of wax away. I had it on my first fire-engine red Suburban - Polyglycoat. After two years I used the bottle of wax they provided to re-coat the truck. You had to work in 6" square sections because after it dried (in about 10 seconds), you either removed the residue with a second coat . . . or a cold chisel. It took a week of evenings down in the garage, but the result was beautiful. I found out later that ordinary wax would have done as good or better - with far less labor. That was an expensive ($450) lesson. Spend the money on a good detail kit (Meguiers or Mothers) and a power buffer. Spend the rest on a few cases of beer and let your friends help.

 

[Jeff Porter]

I spent a few hours with my sister today buying her new car. As always they start out on warranty, service contacts, paint protection etc. It got me thinking I suppose Elio will offer similar items?

I am not a big fan of these add on's and the associated cost. But I can see having a power train warranty beyond the 36,000 miles(considering its a new product and not a Toyota) that will be offered. What do you guys think?

Sorry for your loss BlioKart... your loss of time at a car dealership. *shudder* The idea of having to listen to the dealer propose things like extended warranty, paint protection, etc., and then be there for 3 hrs ... I'm reaching for Pepto Bismol as I type. :-) I absolutely hate the car-buying experience. Am I looking forward to the experience of buying the Elio? Dang right. I know Saturn's marketing 14 yrs ago started off as "a haggle-free purchase", but when I bought a Saturn in 2002, it was pretty much the same painful event.

I do think that Elio will offer such things as extended warranty for things such as drive train. I believe the extended warranty is a hugely profitable item. I understand that most extended warranties are provided by another company, so that may be the case for the Elio too.

I was quite surprised recently, when my father, around age 70, bought a car and went for an extended warranty. Wouldn't guess he would ever do something like that. I have never bought an extended warranty for any item. There may be some items that it makes sense to get it, such as a computer. My opinion: an extended warranty is not worth the money. If you believe the item is worth buying, the quality should be there. If a person wants the warranty as insurance for a lemon, that's understandable, but not for me. :-)

 

[Lil4X]

Most often any significant warranty work is covered by the basic factory warranty. If something's going to fail catastrophically, it's going to happen in the first 90 days. Sometimes it may take a couple of years to croak, but you're still within your warranty. Paying for additional coverage is probably not a good investment, but if you change your mind - depending on the insurance company - you can still buy coverage at a much later date . . . and probably for less. Shop around. I took out an (aftermarket) extended warranty on my second Lexus when it ran out of factory warranty, but it probably wasn't necessary. Although parts and labor were expensive ($1500 for a leaking headlight assembly, $700 for front brake rotors), the manufacturer recognized ongoing problems and replaced or repaired them at no cost - even after the warranty expired - without question. Now THAT'S service.

 

[BlioKart]

I recommend her not to buy any of them but ultimately its her money. Each of us assumes the risk we are willing to take. She is more cautious than I. I didn't buy any sort of add-ons when I bought my current car. I wont buy any when I buy my Elio

 

[wizard of ahs]

Being retired I do not put much mileage on my cars. After the 3 years are up on the stated warranty I will pass on an extended one and do all my own repairs. I know there may be some bugs that will come up on the new engine and drivetrain once people start driving and putting on high mileage. I'm sure Elio will take care of them in the 3 year warranty.View attachment 2017

Ditto...I too will do my own maintenance/repair. I have maintained all of my vehicles for the last 40 years, no reason to stop now !!!
Keep in mind, the ONLY "warranty" comes from the manufacturer....all the OTHER "warranties" are only Service Contracts by 3rd parties
ClubJoe, I'm only SEMI-retired (2 days a week) and find I'm putting MORE miles on my vehicles
My bride and I go more places now that I have the time to do them

 

[Joshua Caldwell]

If an extended warranty was worth the money, it wouldn't be sold in the first place because it wouldn't be profitable.