LLRubylady
Well-Known Member
I'm sure in a few years they will bring back the lifetime warranty with unlimited miles. They did that one before.
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Fair enough! Editing post to reflect. Thanks for the call-out!The FCA Mopar MaxCare policy does have options for 5, 6, or 7 years with unlimited miles...
What was the conclusions about the warranties? Are they worth it statistically? Would I be better off playing the lottery when it hits $1.5B?We studied auto company standard warranties in our MBA program. Accountants and marketing people determine length and coverage unless dictated by law (such as emissions coverage). Luxury makers have longer warranties to give the allusion of quality plus the purchase price they charge allows more funds to cover the extra costs. Hyundai and Kia have long warranties to overcome the perception that Korean cars are like the Japanese cars in the 70s and 80s, cheap. VW increased their warranty recently to make up for their emissions cheating. Since FCA just paid a big fine for the same thing maybe they will increase the standard warranty soon, just after all of us get our JLs and not qualify. Since part of the big increase in base price and shipping cost for JLs recently may be FCA prepping for having to pay the $500 million fine they should give us a lifetime warranty for free. No company really pays taxes or fines, we do.
Both are statistically long shots. But for any individual they can be great. For each individual it comes down to how much risk you want to assume. Most people, but not all, won't keep a vehicle long enough to have significant claim. But if you can spread the cost of an extended warranty over a number of payments (plus interest) it may be easier than coming up with $5,000 for a large repair bill. If you can put away $100 per month for as long as you own the vehicle and never use it then you are way ahead. Most extended warranties start time and mileage when your vehicle is new so the first 3 years, five years, eight years you gain very little value from it.What was the conclusions about the warranties? Are they worth it statistically? Would I be better off playing the lottery when it hits $1.5B?
It was a standard Lifetime powertrain Warranty to try and help boost sales during 2007-09 slide. They never brought it back.I'm sure in a few years they will bring back the lifetime warranty with unlimited miles. They did that one before.
You almost surely didn't get Mopar MaxCare with unlimited miles - you better check your paperwork, you might have gotten some kind of dealership special.
[Edit: Apparently you can still get unlimited miles, just not unlimited years. Ignore the above!]