Mopar Extended Warranty (or other suggestions). Good idea or not worth it? 2015 SXT - 100k+ miles

Hi guys,

Been following topics on this forum for years. Its been a lifesaver! First time posting though.
Wanted to get your thoughts on some Mopar extended warranty quotes that I received.

I have a 2015 Dodge Challenger - SRT and my extended warranty was up in September. Now I’m looking back into protection for the car. I called Mopar & got some rates. Now I wanted to get your thoughts.

Some details about me…
-Challenger has 105,000 miles on it
-I own the car. Bought it at 15k miles. Paid complete cash for it.
-But now that I’m not working, need to make sure Im not just wasting money.
-This car is the best thing in my life now & need to make sure I keep it working well.
-I have around $14k to my name now. And no idea when I’ll be working again. Could be up to a year
-I average 15,000 miles on the car a year

Financially, Im hoping to part with maybe $3500-$4000 on the warranty. But not sure which one is the smartest buy, or the best deal. Will probably pay it in full.

Quotes By Mopar:
5 Year, Added Care Plus, Up To 75,000, Cost = $4903.13
5 Years Power Train, Up To 75,000 Miles, Cost $3,783.56
4 Year, Max Care, Up to 60,000 miles, Cost = $5,700
4 Year, Added Care Plus, Up To 60,000 miles, Cost = $4801.81
4 Year, Power Train, Up to 60,000 miles, Cost = $3,095.83
3 Year, Max Care, Up to 45,000 miles, Cost = $5532
3 Year, Added Care Plus, Up to 45,000 miles, Cost = $3836.88
3 Year, Power Train, Up To 45,000 miles, Cost = $2722.64

The car has not had many issues. So never needed manufacture warranty. But now that I’ve broken 100,000 miles. I’m worried that now the major issues are going to start. And just want to make sure I am covered the best I can be.


Want to make a decision in the next couple days. Any suggestions would be so appreciated!

Has the Max Care or Added Care plus ever come in handy for anyone??
Alternative warranty companies?

(Sorry if I overloaded you guys with information)

Thanks you,

-Wayne

 

That's a tough call with money being a serious issue for you. I did buy an extended warranty for my new car but if I was hurting for money, NO WAY would I get an extended warranty. I would roll the dice and hope for the best. This is strictly my own opinion.
In your case, so far, you have purchased an apparently trouble free car. No reason the engine, tranny shouldn't keep going for another 50,000+ miles with proper maintenance. While anything else can go wrong over the next few years, the electronics (main NAV screen, etc..) are really the most expensive concerns I would think. If something else did break (a/c, etc..) over the next 3 years or so, I believe you might be laying out the same money as you would for the extended warranty. Is it possible you will have $6k or $7k in needed repairs in the future? If yes, you would be ahead a few grand in the long run. If less than $2k is needed in repairs, you end up ahead. You may need nothing. It's all an unknown as is everything with life.
If you get a job, or come into some money, then YES, go ahead and get the warranty if you desire. Right now, too many things could possibly come up in life to blow a sizeable chunk of your $14k into an extended warranty. You will probably need that money.
Only YOU can make that decision for yourself. You will probably get a dozen different opinions from a dozen different folks. Good luck!

 

For clarification: Are all those quotes you received from Chrysler start at your current age and mileage? I didn't know Chrysler would extend beyond 100,000 miles from original purchase.