Are extended warranties worth buying?

I'm buying a 2011 Fiat with 58,000 miles on the clock and have been given the option to pay an extra £500 for a two year warranty. Do you think the warranty is worth it or should I pass?

Asked on 30 April 2016 by Fran Hoare

Answered by Honest John
Depends entirely on the wording of the warranty. What does it cover? What are the exclusions? If it's a bumper to bumper warranty with no wear and tear exclusions then it's good value at £500. But I doubt it.
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