Extended Warranty?

My Gen4 will be 3 years old on the 15 Jan 2022. I have just received a letter from Suzuki offering an extended warranty, they do 3 levels of cover:
Comprehensive = £242.87 p/a
Select = £210.06 p/a
Basic = £177.23 p/a

 

Any thoughts from people, is it worth it, is it a waste of money?

All thoughts/experience welcome.

I would read the small print before you decide.

For example what exactly don't they cover?

They say engine, then specifically list injectors, what about the other sensors on the "engine" etc.
I like that the turbo and sunroof motor are covered 

Seriously ask to see a definite list of items that are covered / not covered. If they can't provide one then expect an argument when you try to claim, they will try to wriggle out if they can. No list is a big red flag to me, reason enough to walk away.

It could be worth it, but based on the reliability of the G3 probably not. Any new parts 100% specific to the G4? These are the unknowns, shared parts are tried and tested on the G3.

Just some ideas so you can decide.

Generally they are a money maker for the seller, they aren't expecting any problem so why should you? Alternatively put £250 in the bank each year, if it goes wrong use this cash to fix it. I will soon mount up.
 

Thanks Scimike, some good pointers there. I presume the warranty list is generic Suzuki so probably covers the Kei Car version with the 600cc turbo? You would think they would tailor the list for each market.

I had thought I could just bank the money every month and not really notice it, so that could be a good option.

Just remembered something else.

After the manufacturers warranty expires some extended warranties are provided by the dealer, they use third party insurance companies to provide the service. So this warranty may have nothing to do with Suzuki UK, it's another thing to check in the small print.

If that's the case you can get the same from companies such as warranty wise etc, this may give you the same at a cheaper cost.

Me - I put the cash in the bank and have a small fortune now ready for any eventualities, but early days you do run the risk of not having enough in the pot.

Good luck
Mike
 

This is another way to try and convince you that your motor will fall to bits just after the warranty runs out.

DO NOT BE DECEIVED.

Suzuki produce a well thought out and well built motor that will outlast the warranty by many years

Anyway, a careful analysis of the small print will generally find an escape route for the cold hearted pencil pushers at head office. Save your loot and find a better use for it later on.

You know it makes sense.

Scrooge ( Bah humbug ).

Generally, any insurance should cost the cost of the average risk plus some fee.

As a result, if financially, legally, … possible, it is always cheaper to not insure anything as long as you are in an average or below average risk group and/or you have the chance to repair at or below the cost that the insurer expects. And consequently Roger´s: “Save you loot and find a better use for it later on.” because the Jimny is a good car and also this forum helps to reduce repair cost.

For cars it is also possible, that an additional insurance is a kind of “bait” so that you also go to the dealer for service etc. so it could be that if you anyhow plan to make your services at Suzuki the Suzuki insurance is cheaper.

Generally I am not in favour of extended warranties, they usually lock you to having the car serviced and if you know a bit about your vehicle servicing and repair costs will on average be lower than the warranty premiums.

They are great for people who know nothing about the vehicle, don’t do any maintenance outside the yearly service or generally don’t maintain their vehicle and therefore run a higher risk of something failing.

I would put the premium in a savings account, after 5 or 10 years it adds up to a reasonable amount and you can use it if something goes wrong.

My Jimny is also 3 years old in January. Having run it for 3 years and discovered that it wasn't assembled by a militant extremist at 16.45 on a Friday afternoon - I'm going to roll the dice and gamble that a Suzuki Jimny won't self-destruct in the next 12 months. If it had been assembled in Solihull then I wouldn't keep it a day after the factory warranty expires.

Extended warranties are essential only if you buy fragile budget vehicles with a reputation for failing. One of the reasons KIA are successful is that they stand behind their products for a lot longer than many other marques.

Thanks all for your input and thoughts. 

I have a small pot of money in a savings account that has not been touched for years so I think I will just start adding to that on a monthly basis as an emergency fund should it ever be required.

As already mentioned, the Jimny is a well built vehicle and l've not seen a single thread about anything being faulty during the first three years, except for rattles and a couple of TPMS reset issues.

l doubt that the engine or turbo charger will give trouble, and likewise other systems on the vehicle. Put away some money if you are worried about it, and spend it on a holiday after a few years.

I work in the motor trade in parts. IMHO i think an extended warranty on a regularly serviced Japanese car is a waste of money. When you get to the small print there are too many exceptions of non covered items. keep the money you would have spent to one side as a rainy day fund should anything go wrong.

250 quid for the year? 
No brainer for me, I'd bite their hand off. I've been quoted up to £1500 pa on other marques
and it certainly helps should you wish to sell the vehicle on.