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Anyone out there looking at an extended warranty for your Spark? I looked at several third party companies and got quotes ranging from $2,600 - $4,000+ depending on the items covered and the duration of coverage. Some warranties only covered powertrain components, while other "premium" warranties even covered your rental car in the event of a repair. Still, a few THOUSAND dollars upfront is expensive, so I thought about it for a bit and came up with a plan.

This is what I ended up doing: I am going to set aside $20 a month for the Spark in case something goes wrong when the car is out of warranty. Since I have 2 years of bumper-to-bumper warranty left, by the time the car is out of warranty I would have saved $2,080 and not spent a dime upfront on an extended warranty.

Since the powertrain coverage is 5 years/100,000 miles, this means I would have saved $4,160 by the time the powertrain coverage has expired. Easily enough to cover the cost of an entire engine if somehow I forgot to check the oil level and seized the motor (not likely).

The bottom line is, after running the numbers, an extended warranty does not make sense unless you absolutely need the "peace of mind" from the additional coverage. For those who are looking to keep the Spark for a long time, say 10 years, putting aside the cost of a pizza or two every month makes the most sense.
 
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