What's up everyone. We are doing a contest with T.I. and we are giving away $1200 a day for the next 10 days. Just wanted to give you all a heads up.
Extended warranty...keep it or get a refund
I purchased a certified 2010 hyundai elantra.It had 18,000 miles on it. I am not the original owner so I didn't get the 100,000 mile powertrain waranty transferred to me but I did get the 5 year 60,000 mile warranty. The dealer talked me into buying an extended warranty with Mastertech. There most comprehensive one called Ultra. Anyway 2 years later I've never used the extended warranty and have refinanced my loan with my credit union. I get a prorated refund for the gap insurance on the original loan but I have the option of either keeping the extended warranty or canceling it and getting a prorated refund. The original price for the extended warranty was 2200. If I was to cancel it today the prorated refund would be 1500. Should I keep the warranty. It is for 5 years or until I reach 100,000 miles whichever comes first. I am reading that people are having a hard time getting repairs covered by third party extended warranties. It was my first car and I let the dealer talk me into feeling I needed it to protect my investment. Hyundai has their own factory back extended warranty(Hyundai Protection Plan) which he didn't mention and I didn't know about at the time and it is much cheaper than Mastertech. So far the car has been very reliable I take it in for its oil changes and maintenance. I have had no mechanical issues.It has 49000 miles on it now.This was my first car purchase so I am trying to learn from the mistakes I made.
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