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You can get the extended warranty until the new car warranty ends, so no rush. A lot of people buy it when the car is new so they can "roll it into the payment" but I don't buy into that because you're just carrying more debt for no reason.
My plan is to wait until the warranty is almost over, then consider:
- Have I had any problems with the car?
- What does consumer reports say is the likelihood that I will encounter problems in the next 3 years (years 5, 6 and 7).
In Canada, the 7-yr 160,000km (100k miles) warranty is about $5k. I don't have specifics, but I have been told that there is a good deal of room to negotiate. I would also price it against private warranties, although I'd only consider those from reputable companies that have been around a long time...
I play to own my car for at least 7 years, but $5k also pays for at least a couple of major repairs.
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