I am a new member here, and am sure I will be using this forum a lot! For now, I have a question about general reliability and whether from your experience you think an extended warranty is worth it for the Soul EV.
I am in the United States, in Portland Oregon. I bought a used 2016 Kia Soul EV this past weekend from a local Kia dealership. I financed it under a 48 month term. It has 14K on the odometer, and is a “certified pre-owned” which means it is under the same warranty as a new car, with 100,000 powertrain for another 7 years, and basic warranty for another 2.
I walked into the dealership knowing they would try to sell me the extended warranty, or “service plan” as they called it, and I was determined not to fall for it. But then they said that with an electric car it was even more important and the numbers didn’t look too bad at first, so I fell for it. But now I am doubting that this was wise. I have 30 days to cancel it and get a full refund.
So my question to you. Do you think with an electric car, there is more likelihood for potential expensive repairs? I don’t drive a lot, maybe 4K miles a year, but I also tend to keep cars until they have high mileage and are older. My gamble is how likely it is I’d encounter a major problem within the next 7 years, which is how long the extended warranty lasts. The other gamble is if the extended warranty would cover what went wrong. The paperwork about it seems pretty comprehensive, but it doesn’t specifically list things related to electric cars.
I know in general these warranties aren’t worth it, but would it be true that with an electric I might be taking on more risk and it would be wise to keep it?