Am I fine or screwed?
So after a long struggle with lack of a car we finally decided to buy a car. Because of really bad credit I ended up with a 2017 compass. Now I’m well aware of how bad these cars are. I’m not looking or anything fancy just something to take the kids to school and go to work.
I got a one year powertrain warranty. My loan is for 3 years. The plan is after one year of consistent payment and improved credit to return it to the dealership for a Japanese or better American car. I am aware of the transmission issues these cars are famous for so having transmission covered by warranty puts me at ease. This is a one year, one and half tops at which point i will return it for something more valuable
Are you having a specific problem (yet) with that vehicle? As you say, they are not very reliable overall. As far as how the thing is going to hold up, it's basically a crap shoot. Go easy on it and maintain it properly and keep your fingers crossed, with a little luck you may manage a year without major problems.
Was the warranty from the dealer or from a 3rd party? Either way, read over its provisions, requirements, and exclusions carefully. Most of those have so many limitations and ways to deny coverage they are not worth the paper they're written on.
@chucktobias no problems so far and all maintenance has been up to date. I got a full list of what is covered in warranty because I want to make sure I am prepared. The warranty is by the dealership.