Re-up my Car Extended warranty

[multi-vitamin]

Hey all,

I own a 2012 chevy impala with 98K miles on it. I own a extended warranty on the car that expires at 100K. Literally just picked my car up from the dealer service department. It required $3,800 worth of repairs, of which I spent $400 and the rest was covered by the warranty. The warranty cost me $2,500 4 years ago -- completely paid off all loans on this vehicle 2 months ago. I had spent $600 about a year ago that was also covered by the extended warranty. I'm planning on taking the car back in a about a month or so to see if anything needs to be replaced that would be covered by the warranty-- trying to squeeze as much out of this thing as possible.

Apparently the vehicle I own is not the most reliable. Does it make sense to buy another extended warranty. I would not have a deductible if I get it repaired at a GM certified Dealer. The service rep let me know that I could purchase it from the dealership, which is where I got the first one.

Would it make sense to just save money instead, and be prepared to pay out of pocket? I think I could swing $200 a month savings for auto.

Thoughts?

[RWD]

Warranties are generally more expensive than they are worth, though there are exceptions (Doug DeMuro's Range Rover comes to mind). Your Impala may very well be one of the exceptions, but it's hard to say for sure.

If you are worried about that particular car out of warranty I think you'd be better served by replacing it with something more reliable.

[Dave1442397]

I'd be inclined to replace the car too, but in this case, with 98k miles in five years it's going to take a hit on trade-in value.

If you can save the $200 a month and keep the Impala going for another couple of years, you would have a decent down payment for another car. I know it's a tough decision re the warranty. I also have a GM car, a 2010 with 86k miles. I've had to replace two wheel hubs and the alternator, but that still cost less than an extended warranty (which I didn't buy).

My next car will most likely be a used Lexus...no more GM for me.

[RWD]

I'd be inclined to replace the car too, but in this case, with 98k miles in five years it's going to take a hit on trade-in value.

If you can save the $200 a month and keep the Impala going for another couple of years, you would have a decent down payment for another car. I know it's a tough decision re the warranty. I also have a GM car, a 2010 with 86k miles. I've had to replace two wheel hubs and the alternator, but that still cost less than an extended warranty (which I didn't buy).

My next car will most likely be a used Lexus...no more GM for me.

Why trade it in for a new car with payments? Just sell the Impala private party and get another 2012 something for about the same amount of money. It doesn't have to be newer to be more reliable.