Posted 3/29/2021 15:50 (#8923242 - in reply to #8923211) Subject: RE: thoughts on warranty offer from car dealer
Extended warranties are just an insurance policy. You pay a premium for someone to accept the risk of covering a potential future loss.
The biggest issue with extended warranties is that people don't shop around for price. There are multiple reputable companies that sell extended warranties that would allow you to see if the cost (premium) is fair.
Odysseys are pretty reliable vehicles so I would expect the cost to be lower than the average vehicle.
As to whether you should buy or not, I can't help you with that decision. Do you have enough assets to cover a major repair ($1000 to 5000) in the future. If you do then self insure.
Most people pay car, home, and health insurance and never collect back as much as they paid. Do they question whether they should have those insurances? Just a thought.
By the way, I have never purchased an extended warranty, even on small items. I'm able to cover any losses myself.