I just purchased a 2004 Discovery and looking for some advice/guidance on where to buy an extended warranty plan. The Land Rover dealer offered $3700 for 24,000 miles. I know it's going to cost me, but that won't even get me 2 years. Any other suggestions for a warranty thats reputable and may cover more miles?


2004 Land Rover Discovery HSE 70,000.

 

Consumer Reports will tell you that a extended warranty is not worth the money.

I will tell you that as well.
My financial planer would tell you to open a Money Market Account and deposit a minimum of $50 per month into that account.

If you need a major repair you take the money out of your MMA, if you need a small repair you pay for it out of pocket.
If you never use the MMA to repair the car then you are that much closer to a better retirement.
Think of it this way, with $3500 added to the cost of the car, plus the extra interest you will pay because of the higher loan, and the more sales tax you will pay because of the higher overall price...do yourself a favor and open a MMA.
You will earn interest while you save.

 

$3,700 for 24,000 miles is way to much. I doubt you will have $3,700 worth of repairs in the next 24,000 miles. Land Rovers are expensive but not that expensive. You are better off with an independent warranty company, the only problem is that most won't write policies for Land Rovers. I guess they have learned the hard way.

 

I did purchase an extended warranty when I purchased my '03. It was a 5 year/75K for ~ $1200. Over the past 5 years that I have had the truck, the warranty company has paid out over 8K in repairs. I'm glad that I purchased it. Having shared my experience, I think that $3700 is way too much for such a short period of time. Good luck with your decision.

 

I purchased one for 4yrs/100,000 miles for $4100. It has paid off for me, I had to get some major work done. But I do agree on average if you can put the money away in an account you will usually come out ahead.

 

Do you have the service records for your truck? If it were me, I would look through this site for common problems and see what has already been completed before I decide on spending that kind of money. When I bought my 2001, it was certified and I used the crap out of the warranty. New ACE pump, brakes, serpentine belt, etc. I got an extended warranty after that and didn't use it once. Big waste of money.

I agree with Spike...put the money in a MM and save it.

 

I looked into this when I purchased my '03, carchex offered me 5yrs. or 150,000 miles for something like $2600, I decided against it after looking at what they covered exactly. Also, I do ALL of my own work with the exception of tires (I don't have a tire machine and balancer) so for me a MMA made much more sense.