Opinions on extended warranty

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New member
Mar 28, 2024
NW Wisconsin
I just bought my first Bolt after my old Toyota Echo was demolished by a deer hit, I got a nice 2022 Bolt EV 2LT with 7400 miles on the clock. It has a new battery and it has a 12 month 12,000 miles bumper to bumper warranty and I was offered a extension to a 5 year, 60,000 mile plan for $2384 with a $100 deductible or a 7 year, 100,000 mile plan for $3196 with the same $100 deductible. After the instant $4000 federal tax credit I paid $20,263 with tax and license. Any thoughts on getting one of those warranty extensions? I could easily afford the 5 year extension but the 7 year plan is a bit of a stretch for me and besides I don’t think I’d keep the car for more than 5 years before I trade up to another Bolt maybe, if they go through with the new Boltium models in 2026 as I have heard now.
I was just offered a 3-year warranty for $3.400 on a 2023 Bolt EUV with 57k miles. I turned it down. Reason being, I paid about that much for a 3-year plan on my much older Toyota Sienna when I bought that three years ago. The issue was, much of the work I had to get done on that wasn't covered by the warranty. Some of it was to be sure, but the coverage is quite limited, as you'd expect.

I am fortunate in that even if my new EUV had major problems, it wouldn't totally sink me financially. So with that knowledge plus my experience with these warranties, I decided to pass.