fledermaus wrote:
The probable tipping point was waiting to pick up the car, signing forms, then sitting through the spiel about a full menu of warranty options and getting an earful about how much technology the newer cars have and how expensive it is to fix. Got me thinking dumping 5 or 10K into repairs on the old one suddenly didn't seem all that bad.
This. And I don't disagree with the dealers in some cases.
I've done a lot of my own work on cars. Sometimes to my own detriment. Those are fun stories. But I'm old enough that I've had a lot of cars I was able to work on and I'm grateful for that.
Our last two cars - a 1999 Subaru and a 1989 Volvo - were old enough that I saved money wrenching myself. We paid cash for each of them and had not had a car payment (for a daily driver) since 2005-ish.
That allowed us to pay off a lot of other stuff and save some cash. In 2023 we bought the new Toyota. I had always been told that buying a new car was a bad investment, but the crazy price of used cars made it a no-brainer. And, either way, we were paying cash, so there was no financing involved.
And we DID opt for the extended warranty. It's a ten year warranty that cost me a couple hundred bucks a month for 18 months. We did the math, and considering the usual number of repairs over the course of a 10 year period and the average cost of each, the warranty was significantly cheaper. There's no arguing how expensive car repairs have become, and not having the warranty would definitely be rolling the dice.
HOWEVER, two other things have happened in the last 20 years. Cars have become order of magnitude more complicated to work on. I can't remember the number of chips the dealer told me were controlling this car, but it was in the triple digits. The other thing that has happened is I have gotten older and have less desire to spend my free time under a car, even if I were able to fix it.
I will probably never wrench on this car. I know that. And the warranty for the peace of mind of not having to worry about paying for a four figure repair at any moment ... I'm ok with that.
And I figured it's probably the only new car I'm ever going to buy. We pulled out all the stops on making sure it's properly taken care of. No regerts.