![]() Remember, insurance and extended warranties protect us from high risk events and losses that we can’t afford to replace. It makes little sense to spend $40 in the off-chance that I might save $34. Considering that I would have to pay $40 for the extended warranty, my ultimate savings would be $34. Despite the low risk of tire damage due to road hazards, let’s say I did run over a nail that damaged my tire. In my case, considering the new tires I bought are only expected to last 65,000 miles, it made little sense to insure them. That’s an incident rate of less than once every 250,000 miles. Over that time, I’ve driven over a nail or some other debris that has punctured my tire and caused a flat on just two occasions. I’ve driven more than 500,000 miles in my lifetime. If extended warranties weren’t to the dealer’s benefit, they wouldn’t be offering them. ![]() After all, why pay for something if it’s already free? Ask your tire salesman to double-check and see if your tires already come with one. ![]() Although uncommon, some manufacturers and dealers actually offer free road hazard warranties. Some tires may come with free road hazard warranties. Here are a few reasons why you may be better off taking your chances by not paying for an extended tire warranty: Even so, that sounds like a pretty good idea, right? They don’t usually cover alignments, however, which may be required if your car hits a curb, pothole or other hazard. That is, replacement or damage repair of tire and rims due to nails, pot holes, sharp debris, and other hazards. Of course, new tires are rarely defective, but when they are, a defect usually becomes apparent soon after the purchase date.Įxtended tire warranty plans are meant to cover what prorated manufacturer warranties usually don’t. The reimbursement amount depends on how much tread is remaining when you make the claim. I passed on the warranty but, if what that salesman told me is true, it troubles me that there are a lot folks out there who insist on wasting their money for dubious services.Īlmost all tires come with a pro-rated warranty from the manufacturer that typically cover only workmanship defects. That’s when the guy looked me straight in the eye and insisted that the extended warranty was “a really good deal that most people take advantage of.” I nodded my head, but my raised eyebrows belied my true feelings. I think I caught the salesman off-guard because he immediately tried to assure me that he wasn’t trying to pull a fast one. “So it’s not really $9.95, right? What you should have said is that it’s going to cost me an extra $40.” “It’s only $9.95,” came the salesman’s immediate reply. “And how much is that?” I sheepishly asked. The tires came with a pro-rated 65,000-mile guarantee and were $74 each, or just under $300 for the entire set.Īs the salesman was tallying the bill he asked if I’d like to purchase the extended warranty for my tires. A while back I bought four new tires for my old car.
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