Question I own a 2015 Dodge Grand Caravan that I purchased new. During the initial purchase, I also opted to buy the factory "Added Care +" extended warranty up through 7 years/70K miles at a cost of $2695. I have recently been considering cancelling the extended warranty as I could use those extra funds right now.
My question for you is whether or not it is worth it to keep this extended warranty? Is this warranty coverage worth $2695 in your professional opinion? This is my first Dodge Grand Caravan, so I am unsure as to how much of the extended warranty I may actually use if at all plus it is only through 70K miles. Not sure if the standard factory warranty would cover the big items that may go wrong?
Any feedback you can provide on the value of this factory extended warranty would be greatly appreciated. Thank-you for your time.
Answer Hi Michael,
I am not familiar with the extended warranty provisions nor do I have the frequency of repair records for Grand Caravan to see what the most likely/possible problems might be. The April issue of Consumer Reports magazine does give that sort of data each year and is referenced to the model year. So I would recommend that you go the nearby public library and look in the reference section for that issue when it comes out next month to see how the Caravan is doing as reported by other owners. Then weigh the costs of the likeliest repairs against the cost not having the extended warranty should one of them occur during the extended warranty period. Then you can compare that against the amount of money you will get back if you cancel it.
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