Last post on Dec 03, 2011 at 11:40 AM
You are in the Mitsubishi Diamante
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Mitsubishi Diamante, Sedan
#845 of 1497 Theresa - Extended Warranty
Dec 21, 2002 (9:26 pm)
Extended warranties are not often a good deal. On average, only about 18% of the money spent on extended warranties is actually paid out. That means there is a 82% profit margin on them. Sure, one owner may get more back than the warranty cost, but overall, the payout is about 18%.
Most of the expensive repairs on a car involve the powertrain. The Diamante basic 3/36 warranty is bumper-to-bumper (it covers everything). Mitsubishi also warranties the powertrain beyond the bumper-to-bumper warranty to 5 years and 60,000 miles. That means the extended warranty you are considering is only buying you an extra 15,000 miles.
If I were you, I would put the $1,400 in the bank as a "car repair fund" and use it if you actually needed it for something that the warranty would have covered. The odds are greatly in your favor that you will still have most, if not all, of the money when you reach 75,000 miles.
Your experience with a Grand Am should not be repeated with a Diamante. The Grand Am has a poorer reliability record and failures beyond 50,000 miles are not unusual. A Diamante should go well over 100,000 miles without a failure. I personally know of several Diamante owners that have past the 100,000 mile mark without a problem. In fact, a friend of mine just sold his 1992 with 216,000 miles on it and it was just then beginning to need a valve job. That ain't bad!
Your single biggest risk in having your car last a long time is the quality of work done by mechanics during periodic maintenance.
As to mid-grade gas. I also use it in my 1999 Diamante and note no decrease in performance or gas mileage.
If you still decide that must have an extended warranty, you should be able to find a better price than $1,400. Search on the words "extended auto warranty" and request quotes from several online sources. For instance, a quick check with Warrantybynet came up with $814 for a 5/75 warranty. Be sure to get a quote from your local American Automobile Association office. Remember, though, if you buy a warranty it is only as good as the company behind it and many policies have a lot of exclusions, so "buyer beware".
#846 of 1497 Thank you Mr. V
Dec 23, 2002 (2:24 pm)
Thanks for the information. I think you are right, I will just put the money in a "car fund". I really love this car and plan on keeping it for a while. I am having all the service work done at the dealer and will probably stay with them after the warranty runs out. They are really good at fixing little things with no charge and the service is excellent. So far I am really happy with my car. I appreciate the honest answers you provide.
#847 of 1497 2003 Diamante
Jan 06, 2003 (4:49 pm)
I did my annual visit to the auto show which always includes my review of cars in the entry luxury field. This review only includes those things that can be evaluated on a car parked on the show floor, so it does not involve a test drive. In any event, if a car fails to pass this test, there is usually no reason to move on to driving it. Thought I am not in the market for a new car (I love my 1999 Diamante and will keep it at least 6 more years) I like to keep up with what is available.
As with past years, if I had to do all over again, I would buy a Diamante. Diamante does the best job of meeting all the criteria that is important to me.
As to the 2003, I carefully looked over the VRX and LS models on display and only noted two very small changes. One is there are some extra items in the engine bay, probably to meet emission laws. The other is the presence of a pass-through from the trunk. Though the lack of one hasn't been much of an issue for me, I did note that it would not be hard to retrofit a 1997 to 2002 Diamante. All you would have to do is buy the pass-through door assembly from the dealer's parts department, remove the rear seatback and cut a hole in the metal and mount the door. The tricky part is getting the measurements right so it lines up perfectly with the back of the center fold-down armrest. You would also have to be careful to avoid any wiring harness that may be present. I don't have any immediate plans to pursue this, but if any Diamante owners really need a pass-through, this would be something worth trying.
Jan 07, 2003 (1:23 pm)
Traded in my pearl white 94 for an 95 Olds Aurora with far fewer miles.
#850 of 1497 I LOVE My NEW 2003 Diamante!!!
Jan 26, 2003 (6:47 pm)
I just bought a new 2003 Diamante and just wanted to tell everyone that I LOVE IT!!!!!
It's a 4 DR LS, Beige w/ leather Interior. It's the only car that I liked for driving as well as good looks.
I test drove just about everything else out there, and the Diamante had a nice smooth ride, quiet cabin, and I loved the interior.
Other cars, like Honda Accord and Toyota Camry, were just plain, run-of-the-mill cars with sparse and chaeply made interiors.
The Diamante is great, and I look forward to coming here to get advice from you veteran Diamante owners.
Jan 27, 2003 (6:36 pm)
congrats.....glad you see that the Diamante is nice alternative to Cars like Camry and Accord....for something unique and different....