You have the five year warranty that came with the car and you put out another 700 and some change for the extended warranty and you feel you can breathe easily for 10 years. If you failed to save your oil receipts, you might find that the blown gasket you are replacing will not be covered. It’s in the extended warranty’s fine print.

This CBS13.com consumer report tells the story, the moral of which is get a folder for all automobile related paperwork and never fail to put all related expense receipts in it.

“Extended auto warranties may give you peace of mind when you buy them, promising years of service for your car. But we call on Kurtis Ming, with what you should know about the roadblocks before you decide to buy one.

When Randy Fetter bought his Hyundai Accent in 2002, the five-year factory warranty was a big selling point.

“They market themselves and position themselves as the best warranty in the business,” says Fetter.

For even more protection, randy paid $759 dollars to extend that warranty to ten years.

“This was one vehicle I wasn’t going to have to worry about for the next ten years,” he says.

So last month when his car broke down with a blown gasket, he expected the fix would be covered. But Hyundai refused, because Randy didn’t keep his receipts for oil changes.

It’s a clause listed in the fine print of his warranty.

An extended auto warranty can be a good deal. But before you buy, the experts at edmunds.com have a couple suggestions:

1. If you’re leasing your car or plan on getting a new model in a few years, extended warranties are usually not worth buying.

2. Make sure the extended warranty lengthens the term of the original warranty…

3. Maintaining the car your self could void the warranty. And always keep detailed records – hold on to receipts for repairs and routine maintenance, you may need them, as randy found out.

“They wanted to have it on there that you purchased this oil on this date, what the viscosity was,” says Randy.

After randy’s car was in the shop three weeks, Hyundai decided to honor the extended warranty and do the repairs”.