Shelled out $300 for a certified pre-owned warranty on my Honda at a shady lot in Phoenix

I always thought extended warranties were a straight up scam, something only people who don't know how to change their own oil buy. But my 2012 Accord had 120k miles and the transmission started slipping real bad about 3 weeks after I drove it off the lot. The dealer wasn't gonna help, but that $300 warranty actually covered the rebuild, which the shop quoted at $2,100. I was dead wrong about that whole industry, at least for used cars with high miles where you dont know the history. It saved my butt because I barely had cash for rent that month, let alone a surprise transmission job. Now I'm wondering if anyone else has had a cheap warranty actually pay out big or if I just got super lucky?

2 comments

2 Comments

lopez.brooke19d agoTop Commenter

Bro for real! I had the exact same thing happen with a $250 warranty on a beat up old Ford Focus I grabbed from a buy here pay here lot. Everyone told me I was dumb for getting it, but the alternator died and the AC compressor went out in the same month. That warranty covered both, which would have been like $1,500 out of my pocket. It was sketchy as hell but it actually came through. You might have just gotten lucky but sometimes those cheap warranties are the only thing standing between you and a total loss on a high mile beater.

anna75819d ago

Honestly, $300 covering a $2,100 transmission rebuild is insane. I can't even wrap my head around that, most of those cheap warranties are designed to deny everything. You got super lucky, no doubt about it. Ngl, I thought those things were just a way for shady lots to make an extra $300 off people who can't afford a real repair. But hearing your story and the Focus guy's story makes me wonder if the cheap ones sometimes just slip through the cracks and actually work. That's wild, tbh.