2000 V70 - extended warranty???

Discussion in 'Volvo V70' started by Matt, Aug 26, 2003.

  1. Matt

    Matt Guest

    June this year I purchased a 2000 V70 SE (NO awd, no turbo, auto tranny)
    with 60,000Km. The warranty is good until June next year or 80,000Km.

    I can purchase extended warranty for a little less than $3,000 CND that will
    give me an additional 3 years and up to 160,000Km.

    First time volvo owner. I know diddly about Volvo's reliability. Is
    extended warranty a good idea for these cars? (the dealer thinks so!)

    Thanks,

    Matt
     
    Matt, Aug 26, 2003
    #1
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  2. Matt

    Joe landy Guest

    I agree entirely. My V70 has now covered 352,000 KM (220,000 miles), and
    I've never spent anything like $3000 on it. Even if it all went horribly
    wrong now, the whole car isn't worth $3000, so I'd just repair it using
    parts from Breakers yards, or scrap it! If you just keep it well serviced as
    Aleric has already advised, you'll be fine.
    I think people are a little too obsessed with car mileage nowadays.
    With modern synthetic oils, and generally better technology and higher
    quality manufacturing, cars do last several times longer than they did 10
    years ago.
    I bought my 1997 V70 with 120,000 miles (192,000km) on the clock, I've now
    paid for the car completely, so it owes me next to nothing! I've enjoyed
    owning a very high quality, and high performance car, whilst spending
    relatively little money on it. Admittedly, mine's a Diesel, but there's no
    evidence to suggest that petrol models don't last as well. I have friends
    with petrol models on similar mileages to mine.
    I'm now on the hunt for a high-mileage V70 D5!
    Best of luck.
    Joe.
    Peterborough
    UK.
     
    Joe landy, Aug 27, 2003
    #2
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  3. Matt

    Aleric Guest

    Other things to consider about warranties:

    A frequent sales tactic I've seen used, involves making you worry about
    your purchase. Supposedly, you've purchased a good, high quality vehicle,
    but if something goes wrong... "it's going to be VERY expensive!. Better
    cover yourself with a warranty!". Makes you wonder if you made a mistake
    buying the car!
    Anyway, it introduces a degree of uncertainty in the customer's mind, which
    is not good.

    The salesperson or dealership typically gets a 50% commission on the sale!
    That means the warranty service company can still make a profit with just
    half of what you paid! Must be a pretty good business!


    Other issues:

    1) You might sell the car sometime before the warranty ends (may or may not
    be transferable, but you are unlikely to recapture your investment in the
    warranty)
    2) It could be stolen or wrecked before the warranty ends.
    3) Something could happen whereby the warranty is voided.
    4) Many warranties require you to do various types of servicing on *their*
    schedule and often at *authorized* service centers.
    5) Then there is the usual disputes that crop up as whether or not
    something is actually covered, when you need it the most. Read the fine
    print!


    All in all, not a good deal in most circumstances. They usually come out on
    top. There are a few cases, where it might be worth considering, but not
    many.
     
    Aleric, Aug 28, 2003
    #3
  4. Matt

    Aleric Guest

    Matt,

    The odds are greatly in your favor that you will come out ahead in the end.

    The concept of warranties isn't so bad, it's the price! They want WAY too
    much money for the small risk they are assuming, not to mention the sales
    commission.

    People who can't sleep at night without a warranty should buy a Hyundai.
    Their cars *come with* a ten year/100K mile warranty!

    Good luck and enjoy your car. You should be just fine.

    Bob
     
    Aleric, Aug 28, 2003
    #4
  5. Matt

    pb Guest

    My AC condensor just went on my 98 V70T5 115k. Volvo wanted $960 + labour. I
    am glad I went for the 10 year/160KM warranty when I bought it used at 40k.
    Nothing out of my pocket. It also covered a door seal at 70K. Consider the
    repair costs - Volvo likes the Canadian brown ones.......



    .....pb
     
    pb, Aug 28, 2003
    #5
  6. Matt

    Matecko Guest

    My dealer quoted me $2300 for the warranty --- but since it's a 'Volvo
    Part' (and as others have said--a high/over priced one) -- I faxed
    off to other dealers within 300 miles...got a quote of $1699 -- my
    dealer matched it.


    Insurance buys you piece of mind -- it's a gamble -- you're betting
    that the car will break, Volvo is betting that it won't.

    Good luck with your decision --- there is no right or wrong choice ---
    but if you do decide to buy the Volvo warranty --- shop around for the
    best price.


    mat
     
    Matecko, Sep 1, 2003
    #6
  7. Matt

    Matt Guest

    Thanks Mat,

    That's also a good idea.

    matt
     
    Matt, Sep 1, 2003
    #7
  8. Matt

    theCLAW Guest

    i would say buy it. one repair and you are set. although some of the
    warranty companies are going belly up i have heard. people are stuck with
    useless paper. have the dealer underwrite it just in case. tom
     
    theCLAW, Sep 1, 2003
    #8
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