There lying to you.... You can cancel it anytime you want, at least that was my understanding talking to the finance person...

 

yup, lying to you... can cancel any time as long as warranty is left

 

Hmmm....I foolishly bought the 7 year / 100k mile extended warranty for my Z earlier this year. I don't remember, does the clock start ticking on the extended warranty the day I buy it, or the day my factory 36 month / 36k mile warranty runs out? I would think it starts once the standard warranty is up....otherwise I am paying for something that I was already going to get for free (during the first 36k miles at least).

I keep having second thoughts about the warranty because it's not covering wearing parts like brakes or clutch. If a headlight bulb or ballast goes bad I can fix it myself, same probably goes for taillights. The engine should last plenty long if I stay naturally aspirated and keep my oil fresh. I just don't know if I will use $1200 worth of repairs during the time between 36k and 100k miles.

Actually, now that I wrote that....maybe it is a good idea to keep the warranty. That's a 64k mile span. I probably won't own the car that long, so like someone already mentioned it could work for me as a selling point when I trade/sell the car. And I would have the documentation to back it up.

I'm not that much of a risk taker and I make enough money to be comfortable paying the extra few bucks a month for the extended warranty. If I was more of a risk taker, I would cancel that warranty in a heartbeat.

 

I cancelled my extended warranty, but I cancelled it a couple months after i bought it. there is probably a deadline, which already passed for you at 58k

 

no, there is no deadline. as i said earlier it doesnt matter what mileage its at. as long as there is warranty on the car it can be canceled

 

It's called extended warranty because it extends your noraml 3 year / 36k mile to 7 years / 100k miles.... So depending on how you look at it you could say you bought a 4 years / 64k mile warranty that starts the day your original warranty ends...

Or you could say that the 7 year / 100k mile warranty replaces your 3 year / 36k mile warranty...

So if you bought a 2006 Z, the warranty will end in 2013 or 100k miles which ever comes first.

 

Right, but they say you can cancel the warranty and that the remaining "value" of the warranty will be refunded (i.e. they will pro-rate it). But I am thinking that they can't start clock on the extended warranty until the standard 36mo. / 36k miles warranty is used up. So as an example in my case, the car is only 6 months old and has 8k miles on it, so if I decided today to cancel my extended warranty I (or my leinholder) should technically receive a refund all of my $1200 (minus any cancellation fees)...?

 

wrong

 

Ok....so I am assuming then that the price I pad for the warranty (in my case $1200) is stretched out over the entire 7 years / 100k miles, so the clock started on the day I purchased the warranty.

The more I think about it, the more I realize that it is a couple of months worth of car payment for a couple of years (at least) worth of extra coverage. If I cancel the warranty it will be one of those things that you don't miss until it's gone.

 

exactly... if you get it you will never use it.... if you dont get it youll wish you did.... kinda a catch 22