This is good information, especially DFrantz noting that the warranty companies probably pay less than we do for the same repair and hopefully their pricing reflects that. Two maxims regarding insurance I keep in mind: 1) You are betting you will have claims greater than the amount you are paying for the policy and the insurance (or warranty) company is betting you won't. I side with the insurance/warranty company. 2) Don't pay for insurance to cover claims you can afford to pay out of pocket. I don't buy extended warranties for my cars but I DO of course insure them with a high deductible collision, full liability coverage, etc. policy. For many folks a big ticket repair would be a financial challenge and pre-paying for that potential repair over time might make sense.It's the same for any insurance. You're paying to avoid the risk of what you can't, or simply don't want to afford. But it's not JUST the notion of the risk something happens. The buying power of the warranty company generally means they pay out less than you as an individual does for the same work. So the aggregate cost for them is lower than it would be for the aggregate of everyone else combined out of pocket. Dealers gain from the "captive repairs" and higher chances for repeat sales as well as the profit from selling the warranty. But mathematically it would be possible to make a warranty cost less than the aggregate of repairs for an individual, disrupting the notion that it's a mathematical loss. And then the peace of mind would be free (-=
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Get the 10 year extended through steingold volvo or have your dealer price match. DO NOT buy if it's not a CPO. Saving 2-3k now will come back to haunt you later! Good luck
Not trying to sound gruff here, but you can't possibly think that comparing even last generation Volvo reliability and repair pricing to the new generation is an applicable argument. As vehicle complexity goes up, so does the cost of everything related to it. Ford era Volvo parts are on the same cost and availability plane as most american and japanese cars. Volvos now are up there with the Germans. Also someone who is only willing to shell out for a 5-10 year old volvo (for what, $10k-20k max of those vintages in the current crazy state of the used car market) is not worth comparing to someone who is looking at sub-5-year-old luxury vehicles that they'll be paying $30k-60k for.Buying a used car warranty is like placing a bet that the vehicle will need $x,xxx of maintenance outside of normal wear and tear.
Yes, the vehicle isn't cheap and I'd prefer not to have to pay for an unforeseen repair but I also don't want to drive my vehicle hoping for an expensive enough failure or multiple failures to exceed the money that had I put upfront to purchase the warranty. I'd be happy to take a warranty if given one but I wouldn't pay for one from an auto manufacturer that has an acceptable track record.
And yes, I understand that some people have had bad experiences with a Volvo here and there but compared to total sales, the numbers are relatively small.
I've purchased four used Volvos (and prefer to purchase 5 year old Volvos for myself) ranging in years from 5 years old to 19 years, I've replaced brakes, shocks, struts, a clutch, wheel bearings, bushings.....many bushings, a fuel pump when the vehicle was 14 years old so outside of what an extended warranty would cover, A/C compressor and much of the A/C system when the vehicle was 16 years old, again outside of an extended warranty period, did I mention the bushings?
A warranty would have been as helpful to me as handing the mechanic a teddy bear when the bill was due. I'd recommend buying a car with as good of a maintenance history as you can find and put your thousands away for a possible failure and hope to keep your money in the bank.....unless its free or less than a grand.
Oh wait, if you get the air suspension then you may want to get that extended warranty lol.
As far as the brakes go, this vehicle eats them. 15-20 thousand miles are not uncommon, there is a new spring for the rear brakes that will hopefully increase the life of the rear's....there's a thread on here somewhere about that.
Good luck with whatever you decide and I'm sure I'm not the only one who'd like to see pics of your choice.