2013 ML350 4MATIC : to purchase or not to purchase factory extended warranty

[Nate]

Having a bit of a dilemma here.  My wife drives our 2013 ML350 4MATIC.  The 4/50K warranty expires in December of this year, and I'm debating whether or not to purchase 7/100K manufacturer's warranty (MBZ not aftermarket) to the tune of about $4,500.  The car currently has about 20,000 miles on it, is fully loaded except for no panorama roof and has MB Tex, not leather.  It has never been in an accident and the car has had zero mechanical issues.  My wife drives the car about 6,000 per year. 

Appreciate your thoughts on whether you think it makes sense to purchase or not to purchase the extended warranty.

Thanks!

Nate

[Rolf-Dieter ✝︎]

Hi Nate,

I drove two ML350s one for 5 years as my business car and put many miles on it it was a 2000. The second one was a 2005 and I traded that one after 2 years when a dear hit my car. I checked with MB, BMW and Jaguar for trade in value and since Jaguar gave me the best deal I got a Jaguar AWD.

Now on the first one I considered the factory extended worrenty, however, decided against it and traded for a new one. I know the new MB is no longer as reliable as our Pagoda then think about it your ML should be okay until you decide to trade in for a new one. The $4500- should cover that time period or you may elect to trade it for a new car for your wife.

Something to think about anyway. In general I don't go for the extended worrenty, seams to me the manufacturers always gain on those deals.

My view anyway, take it with a grain of salt.

Dieter

[Norm]

Warranties rates are established so that the warranty company (OEM or third party) make money on the deal.  They are betting you will not collect more than their costs.  You are betting that your covered repairs will be more than the cost of the warranty.  They use a significant amount of information to establish their rates.  Unless you know something about your car that they don't, the odds are in their favor.

It is your wallet, not mine, but unless you can't sleep at night worrying about an expensive repair, or that you will have to park the car if a potential repair cost is in excess of the warranty cost, you should "self insure" and keep your money in a safe place.

Good luck with whatever you decide.

Norm

[Nate]

Thanks guys!  I think the answer is NO to purchasing the extended warranty.  Thanks for sharing your points of view.