Thinking about a used car extended warranty? Nervous about what's under the hood? Used car dealers are feeling your pain all the way to the bank. In an ironic twist, "pre-owned vehicle" dealers have found a way to profit from their bad reputation.
No, they're not just selling overpriced used car extended warranties anymore. They're charging a 10%-25% markup on used cars "certified" (by them) not to be pieces of junk. The accompanying "certified" used car warranties in fact usually carry much less protection than the best used car warranties, which you can buy yourself online. Who needs a used car warranty if your jalopy is a "certified" machine?
But even paying 10%-25% more won't eliminate risk. Thorough extended warranties for used cars are necessary, "certified" or not. In some cases, a half-hearted inspection means the certification may not be worth the paper it's written on. Used car problems often only appear months or years after purchase. That's why even for mint used cars, used car extended warranties are essential.
