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Extended warranty

18K views 46 replies 26 participants last post by  Ironmule 
#1 ·
I'm at the dealer now and they want $2600 for. A 6 year 120k
Bumper to bumper waranty. Isn't that high? I'm in Ofallon missouri
 
#7 ·
I paid $ 1,080.00 for an 8 year 120k mile no deductible extended warranty. It is a Honda Warranty also.

http://www.saccuccihondacare.com/

Here's the link, I did this last September so price may not be exact. You do it by phone, painless, and they register it with Honda. Good at any Honda dealer.

I live in Georgia and the dealer is in Rhode Island. I saw one for a little more later at an Atlanta Area Honda dealer. Don't remember which one. Plan to keep this one a long time.

If you sell privately it can also be transfered one time to a new owner. There may be a fee for this, don't remember.

Good luck.
 
#9 ·
Again, I think I'm too late here but as someone who works at a Honda dealership I will tell you that it's a wise investment on the Crosstour given it shares the same powertrain components with the Accord, but more importantly that it's LOADED with technical gadgets, be it a navi model or an EX base.

A Service Contract is essentially locking in today's labor rates for the next X amount of years. Anyone with half a brain will tell you things in life cost more today then they did 7 years ago. Also, anyone who has google and can type the words "honda transmission problem" should clearly see that Honda has a trackrecord for crap transmissions and that alone is why I would buy a service contract. My 03 Accord had 2 Transmissions and 2 motor mounts which more than paid for the cost of the extended service plan.

With all that we demand our vehicles do, it's inveitable that something will fail.

That being said, if your dealer offers HondaCare, that's great. However, I have had good success with MasterTech Vehicle Service Contracts. They are backed by American Financial and can only be purchased thru an authorized dealership. It provides exclusionary coverage on new cars; which essentially means, if it's not listed as NOT being covered, then it's covered. Also, you can use it at any A.S.E. certified repair shop, not just the Honda dealer. It gives you a better rental allowance than HondaCare as well.

Oh and if you have a minute, read your warranty booklet; it explicitly states that Honda does not cover wear and tear.

For example... A/C not as cold as it once was? Guess what, until it stops working completely, that's normal wear and tear. A service contract is an agreement to keep the vehicle in like new condition for all covered parts.

Not everyone will see the value in Extended Service Contracts. It's not a tangible asset, it doesn't make you look cool nor does it make you feel good (initially anyways), so it's typically the people who have been burned by a car, or someone who has had a service contract and used it that sees the value in having one.

Shoot, I have one on my leased vehicle ;-).

Off my soap box. Enjoy your cars!
 
#10 ·
Extended warranties are a gold mine for dealers, and waste of money for most people. For every owner who has a major problem, there are hundreds or thousands who never have a problem, and the dealer pockets all the money. No wonder they push them hard. It's no wonder major consumer magazines do not recommend extended warranties.

Bottom line: Take your money and buy a CD or some other financial investment. If your car does break down, use that money. If it doesn't (and odds are, it won't), you end up with a fatter nest egg and smile on your face.

Face it, if extended warranties were a financial drain on dealers, do you think they would push them?
 
#11 ·
I'm at the dealer now and they want $2600 for. A 6 year 120k
Bumper to bumper waranty. Isn't that high? I'm in Ofallon missouri
we thought it was a no brainer to buy. It transfers to new owners or you turn it in & get your unused money back, and at the end of 7 yrs, what you haven't used is refunded. If you have not used it at all you get 100% of your money back. It was $1225. I was very happy with our dealer, our salesman, and our trade.
 
#12 ·
It is always good to get a extended warranty. Like someone said earlier, in 3 to 7 yrs things will be higher. If you keep the car you have made a wise decision. If you decide to sell it or trade it in, you will get refunded for what you have not use. I just received a 1000.00 check from BMW for the money I had left on my extended warranty, and it was expiring in May. So I know it's true you will get your money back. Plus if you keep the car and you have EX-L Model with Navi, with all the electronics on it, yes you should have a extended warranty. Because after around 50,000 miles they will NOT offer you one. I know for a fact. :)
 
#13 ·
I opted for the extended warranty. It also came with oil changes w/tire rotation and wheel and tire protection. This dealer is so convenient to me that I know I'll go there for any work that need to be done, so I know I'll get my monies worth from that. Thank you all for your input. I really appreciate it. So far so good... I'm loving this vehicle. :)
 
#14 ·
$1,000 or so for 6-7 years is arguably worthwhile... particularly with all the gadgets these days (as austincrosstour said).

Check with your car insurance company too... I switched to Geico car insurance ~5 months ago and they now offer $250 deductible on anything major which is also quite good (if you are concerned about tranny/engine/other big ticket issues).
 
#15 ·
I just read this thread and I purchased the Hondacare warranty from Saccucci Honda. What a deal for $1080. 120K/96mos/0 deductible. One or two major repairs over a 100K miles can easily top $1080. Its a good deal at that price. At $1800 I would not purchase it. I would take the risk.
 
#18 ·
I'm driving the EX-L 4WD w/ Navi. I paid $1,100.00 for 120,000 miles/96 months.

My Honda Dealer originally offered it to me at $1,600.00 and I declined. When I came back to pick up the vehicle and sign for everything they offered $1,400. I told them I couldn't afford more than $1,100.00 for it, so if it was more than that, I couldn't do it. They came down to $1,100.00 for me. At the time, I was unaware of what anyone here had paid, so I was delighted to see the cheapest it appears to have gone for was $20 less than what I paid.
 
#20 ·
Wow...that's pretty good. I guess I got beat? Hmmmm, well the warranty they sold me is bumper to bumper, Premium Plus??? 100,000 or 84 months. I guess it's still pretty good. They can sell warranties for ever how much they want to. I hope Blondie didn't get hers for 2600.00 that's a bit too much.
 
#21 ·
Geez, my deal isn't as good as I originally thought it was. I bought an EX-L 4WD w/ Navi last month and got the ext. warranty for 8 yrs / 120K miles for $1,450.
Oh well, it's still a pretty good deal.
 
#22 ·
Has anyone purchased a Honda warranty from a dealer that was not their selling dealer? On one of the BMW forums there was a list of dealers and what they were charging for the extended coverage. After you bought your car you could go to another dealer and purchase the warranty. I see a lot of different prices listed above,why not name the dealer?
 
#27 ·
Anyone need extended warr. in canada send me a pm and i will try my best to get you a good deal from the dealer i work at.
 
#28 · (Edited)
Not for me.

I have had 5 Honda/Acura products for a total of over 350,000 miles, including an 04 Accord with 122,000 miles. I have not paid a dime for any repair other than wear items (brakes). If I had paid say $2k for each, I'd be out 10 large now. Maybe I am a gambler, but with Honda its like betting with a royal flush in your hand. Also, until recently, I purchased cars. Now I am leasing and with Honda's great leasing terms, I am happy to turn over my cars every few years. The superb resale value of these vehicles makes this quite feasible and cost effective, at least in my case. I pay the max 20% down on the lease. Let's face it, a car is an expense, not an investment. Just figure out what you can afford per month or year and go for it!! You can then get out of it at about the time the warranty ends.....then you really don't need an extended one. I trade my leased cars and have got money back every time, or rolled it over into the new lease to reduce the payments and give me some instant equity.

ADD ON: I just read that some of these warranties offer unused money back. That might change my thinking if I planned to keep the car past its factory warranty.
 
#29 ·
i did not buy an ext warranty from the dealer. i have had the car a month or so now and have about 1200 miles on it, can you still go back and purchase one from the dealer if you wat?

i had been told that third part warranties were better and less expensive if you do the research on them?

thoughts?
 
#30 ·
i did not buy an ext warranty from the dealer. i have had the car a month or so now and have about 1200 miles on it, can you still go back and purchase one from the dealer if you wat?

i had been told that third part warranties were better and less expensive if you do the research on them?

thoughts?
You can get the Honda warranty up to 3yrs/36000 miles, until your original bumper to bumper warranty runs out to state it another way.

Unsure about 3rd parties but I'm sure they want your money too.
 
#32 ·
I know the 3rd party ones when something breaks they send a adjuster to look at the broken car this has taken up too 3-4 days so your car just sits and waits and in most cases replacement vehicles are not covered. make sure you read the full contract and the exclusions (ie the stuff thats not covered)
 
#33 ·
My experience with warranties other than the company that sold it to you. If you go to the a Licensed Dealer of that vehicle, they usually take their word, and have you to set up an appointment if it's something that they cover. I've never had a problem. Also when I traded my car in they gave me back 1000.00 that I did not use. Also gave me back the gap money as well.
 
#34 · (Edited)
I continue to be amazed at the number of folks that buy extended warranties. These are huge profit centers for anyone that sells them. Honda makes money on them, and the dealer makes a ton on them. There are some very good reasons that car insurance companies have begun offering them as well. From a financial perspective they are a very poor investment. It is not as bad as handing money over to Bernie Madoff but it is not a whole lot better.

Cars continue to be made better and the chances of having a significant problem between the time the factory warranty runs out and the time the extended warranty runs out is extremely small.

If the folks that buy these things were to set up a savings account instead and set that money aside they would have a very nice chunk of change by the time they retire even with any repairs they may encounter.
 
#35 ·
I continue to be amazed at the number of folks that buy extended warranties. These are huge profit centers for anyone that sells them. Honda makes money on them, and the dealer makes a ton on them. There are some very good reasons that car insurance companies have begun offering them as well. From a financial perspective they are a very poor investment. It is not as bad as handing money over to Bernie Madoff but it is not a whole lot better.

Cars continue to be made better and the chances of having a significant problem between the time the factory warranty runs out and the time the extended warranty runs out is extremely small.

If the folks that buy these things were to set up a savings account instead and set that money aside they would have a very nice chunk of change by the time they retire even with any repairs they may encounter.
You're normally right about extended warranties but I don't think it applies here to every circumstance and how the vehicle is equipped. I never take extended warranties except on our Crosstour and here is why:
-It's 10 years or 100,000 miles bumper to bumper
-It was $1600 and rolled into my 0.0% loan for 5 years
-My wifes car and she plans on keeping it 10 years. She tends to keep her cars for a long time and we take care of them. She does about 10,000 per year so it matches nicely.
-We have the loaded EX-L 4WD with Navi. If Navi goes out it's $1900. Any other repair after warranty is going to be $300 for them to touch it and anything electronic, electrical or really anything else outside of the drive train is going to be a minimum of $750 and probably closer to $1000 or more.

10 years from now it may have been $1600 wasted and I hope it is, but it's a small price to pay over 10 years for peace of mind knowing that it could easily be $3000-$5000 repairs over the 5-10 year mark on this vehicle. We've paid $3000 on average on our last 4 vehicles (her 2 and my 2) in the latter years of ownership that would have been covered on an extended warranty. Pretty much a no-brainer to me and anyone else who has owned a car for more than 5 years or plans on putting over 60,000 miles on it.
 
#39 · (Edited)
I'm not sure if I'll be faced with this issue or not since I'm planning on leasing my vehicle. But usually I turn down extended warranties except for dishwashers. I also bought one once for my projection TV I got about 8 years ago or more. That paid for itself a couple of times.

But vehilces I have mixed feelings. New, I think I'd wait to buy until at the end of the factory warranty to see if I still have the vehicle or not. I think you end up paying more at the tme. I think if I was buying a used vehicle, I'd go with a certified used vehicle that comes with an warrantee too. Knowing that it is a money maker for the seller in almost all cases. It still ensures that my cash flow won't be disrupted at the wrong time.
 
#40 ·
I'm not sure if I'll be faced with this issue or not since I'm planning on leasing my vehicle. But usually I turn down extended warranties except for dishwashers. I also bought one once for my projection TV I got about 8 years ago or more. That paid for itself a couple of times.

But vehilces I have mixed feelings. New, I think I'd wait to buy until at the end of the factory warranty to see if I still have the vehicle or not. I think you end up paying more at the tme. I think if I was buying a used vehicle, I'd go with a certified used vehicle that comes with an warrantee too. Knowing that it is a money maker for the seller in almost all cases. It still ensures that my cash flow won't be disrupted at the wrong time.

Buying these factory warranties are based on personal needs. I usually buy my cars and keep them for at least 150K miles. So an extended warranty makes sense if the price is right.

I agree that big screen TVs are probably another area where an extended warranty is probably a good investment. I had a big screen that had an extended warranty and it needed repair a couple of times also. I made money on that. I have a new LCD big screen and I have not purchased an extended warranty yet but I may. But I purchased it with my credit card so it automatically gets double the factory warranty for free.
 
#41 ·
Does anyone know if you have to follow the Honda maintenance schedule so as not to void the Honda Care warranty? Most of the scheduled maintenance is - check this, check that - but can run into the hundreds of $'s.

Also, regarding third party warranties, a lot of them are here today, gone tomorrow whereas Honda Care is backed by Honda.
 
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