Extended Warranty - Worth It????

Please Help!!

I was at a dealership last night and I think I got pressured into getting
the extended warrantee on a new 05 Honda Accord. After some negotiations,
they dropped the price of the 8year/120k mile w/$0 deductible from $1,500
to $1,100. But there was a problem with a paper work so they need to redo
the paper work so this gives me an opportunity to delete the extended
warrantee.

I bought an extended warranty on my last car (a used 99 Saab) and I
definitely broke even. But that was a Saab and one of the reasons why I’m
buying a Honda.

Basically, is a 8year/120k mile w/$0 deductible for $1,100 worth it?

Thank you in advance!!
Paul

 

-------------------------

Extended warranty money in the Dealer's pocket. You probably don't need
it.

'Curly'

 

==============================

I missed the part about the Saab. You were right to get extended
warranty on a Saab. I used to own Volvos. :-(

Doubtful you'll need it on a Honda.

'Curly'

 

Extended warranties are cash cows for the dealership. They typically
make more money on the warranty than they do on the sale of the car.
That's why they push them so hard. I love the way the salesman sends
you into see someone in an office to supposedly finish up with the
paperwork. Most of the "paperwork" is trying to sell you an extended
warranty. Sometimes you just have to get rude with them. I would
never buy one on a Honda.

Dick

 

I bought one for the peace of mind if nothing else. It's for my wife's 2000
Odyssey. We've already used it when we had a Code 1457. They had to drop
the gas tank to put in a new filler tube. Still haven't recouped what we
paid though, $1,100. And we'd had it for about two years when Honda
extended the factory warranty on the auto tranny to 100K miles.
If you want one, shop around at other Honda dealers. I'm in Albuquerque and
I called the Santa Fe dealer, got his price and told the Albuquerque dealer
about it and he met it.

 

I bought one with my 98 civic. I more than broke even with it. CV Boots -
$300, Catalytic converter (was outside the 8yr/130000km warranty mandated by
federal legislation) - $800, Input shaft Bearing - $450, Gas Tank - $400.

Also, while they did the input shaft bearing, they did about $3000 of other
work on the trannie that was covered by Honda Plus.

However I agree that its a crap shoot. Most honda's won't need it, and I
would definitely not buy it if I was not planning to keep the car forever.

Also, I've heard that Honda Plus is not as good as it was in 98 when I bought
my car.

t

 

why 8 years? go for 5 or however long you financed the car for. also you
should have the option to wait for 3 years or 36000 miles before you buy an
extended warranty. 1100 isn't bad for 8 years/120k miles

 

if you have the money, and it will give you peace of mind, then of course
it's worth it.

 

Not it isn't. You are buying 5 years 84k miles worth of coverage. The first
3/36 are covered by Honda. Why bother paying more for a Honda if you have to
go out and then buy an extended warranty. Extended warranties are hugh profit
makers for dealers, that is why they push them so much.

 

Ultimately it's your money, Paul, but I wouldn't buy it (and didn't when
I bought my '03 Accord a couple of years ago).

 

All depends on you, your finances, and whether it's easier on your
nerves. I'm getting it on my '04 Accord and MDX.

You can buy the Honda warranty up to two years after buying the car,
without a penalty. Thereafter, they stick you with extra charges.

There are some gotcha's with the Accord that are just a shocker. The
boots will almost certainly fail after 5 years or so, unless you spray
them with silicone regularly. Over $300 for that, and as a known
repair, so you know you're getting your money back. And the MDX has
front AND rear boots.

A fair number of Accords are having their radio & a/c display go black.
If you're out of warranty, it's $900. Wow.

Both the MDX and the Accord are built in USA. Sorry, but there's no
chance they'll be as reliable as a built in Japan model.

further on the consumer's behalf to allow repairs under warranty, even
if it technically doesn't cover it. For example, just wearing out as
opposed to breaking. (No, I don't mean brake pads, belts and other
things normally seen as wear items, but "just wore out" is a common
tactic that other extended service contract companies use to avoid
coverage.)

You can buy a Honda warranty from any dealer. Negotiate. Buy from
another state, and you won't be charged sales tax.

Will you break even? Statistically, no. How could you? The money has
to come from somewhere to pay for repairs, and there is office overhead
to cover. But, you also won't be hit in the face with a huge repair
bill that you haven't budgeted for. It's likely that buyers end up
paying several hundred dollars more, to avoid the potential for several
thousand in repairs. At least when something breaks, you'll be smiling
because you're getting your money's worth. That'll be a new experience
for me.

 

In the past, New car warranty always had a $0 deductible. So, that
particular
selling point wouldn't be a motivator in my opinion (in fact, I'd have
opposite effect since it'd make me feel like I'm getting manipulated).

Also, you haven't specified the type of warranty. The good one is
comprehensive bumper to bumper cover, oppose to only power-train coverage.

Personally, I'd never get the extended warranty. I can trust the manufacture
to come clean on their warranty. But if the Dealership is going to take the
lost on the extended warranty, I'd trust them as far as I can spit.

Pars

 

I've never heard of an extended warranty that covered axle boots - its
always considered normal wear. Is this confirmed that they are covered by
Honda?

I suppose if you can get them down to under $900 on the extended warranty
with no deductible and you are sure this is going to happen, then you might
break even on it.

 

WHY would anyone replace a OEM radio with another OEM radio?


--


Donald Rumsfeld: "If you're asking if there's a direct
link between 9/11 and Iraq, the answer is no."
http://msnbc.msn.com/id/4865948/

On May 01, 2003, President Bush declared that,
"Major combat operations in Iraq have ended."

"I'm the commander -- see, I don't need to explain --
I do not need to explain why I say things. That's the
interesting thing about being the president.
Maybe somebody needs to explain to me why they
say something, but I don't feel like I owe anybody
an explanation. "
- George "Dubya" Bush

 

Hello,
Great post. An Extended Warranty is a bad investment except for one group
of people and I am part of that group. The people in this group WORRY more
then most people. An Extended Warranty is a great investment for us since
our cars are no longer a source of worry. I don't have to worry about my
car breaking down since the local Honda dealership will fix any major
problem. One person calls an Extended Warranty--"Peace of Mind".
Jason

 

So your air conditioning will work. You need to get down to the
stealer and see what's going on with 21st century cars. Maybe it'll
broaden your political horizons as well.

The MDX group on google confirms that Honda is paying for boots.
Anyone with word to the contrary, I would welcome the info. It is
certainly part of my calculations here.

 

My dealer covered cracked boots at 80000kms. They replaced them with ones
that look different, I now have 230000kms and these boots still show no signs
of cracking or wear, and i NEVER spray them with silicone or anything for
that matter.

t

 

the first 3 years/36k miles are covered free. so basically youre getting
an additional 5 yrs. at $220/yr. you think youre gonna need $220/yr woth
of work done?

my 98 civic has only needed an O2 sensor since the 3yr warranty
expired... which cost $220.

save your money, but DONT ignore the preventative maintenance...
oilchanges, plugs, filters, etc.

 

when the stereo is multiplexed in with every other computer controlled
function on the vehicle.

like the 96-00 civics, which had the alarm built in to the stereo.
stupid as hell, but what can ya do?

 

My 96 Civic will serve me just fine for at least another five years.

I did not know that bit about radios and AC's.

LOL! Got Halliburton stock options to protect?


--


Donald Rumsfeld: "If you're asking if there's a direct
link between 9/11 and Iraq, the answer is no."
http://msnbc.msn.com/id/4865948/

On May 01, 2003, President Bush declared that,
"Major combat operations in Iraq have ended."

"I'm the commander -- see, I don't need to explain --
I do not need to explain why I say things. That's the
interesting thing about being the president.
Maybe somebody needs to explain to me why they
say something, but I don't feel like I owe anybody
an explanation. "
- George "Dubya" Bush