I'm hoping to get some feedback as to whether or not getting an extended vehicle warranty would make sense for me. My 2010 ActiveHybrid has 30,400 miles. I found what I believe to be a pretty good deal on a comprehensive vehicle protection plan with USAA. For example, I can get a service agreement for $2,162. It provides zero deductible coverage for 48 months (from plan purchase date) or 60,000 miles (in addition to current mileage at time of plan purchase), whichever occurs first. However, I'm on the fence about whether or not it is worth buying.
I drive my car less than 10,000 miles per year, so I think I'll get the full 48 months from the plan. However, if I decide to sell the vehicle sooner, I can get a refund of the unused portion of the plan. Had my car not been a hybrid, I would probably pass on the plan, but I've always been concerned about one of its electrical components malfunctioning after the OEM warranty expires. For example, the steering, brakes and air conditioning on the hybrids are different because they must continue to operate without the engine running. Also, the transmissions on our hybrids are CVTs and the vehicles have two electric motors that conventional vehicles don't have. I believe the plan covers these and most other essential components and parts, but it does not cover the hybrid battery pack itself. Finally, it is fully refundable within the first 60 days and refundable on a prorated basis after that.
Any opinions?
Here are links to the sample agreement:
https://content.usaa.com/mcontent/st...id=800409118_p
https://content.usaa.com/mcontent/st...a-2014-02-07_p