Honda Civic LX 2001 extended warranty worth it ?

I have a Honda Civic LX 2001 manual transmission.
About six months ago, I had to replace the front struts, but it was covered
under the original 3 yr/36k mile warranty. The warranty will expire soon,
so I got a letter to extend the warranty. 5 yr/75k mile, bumper-to-bumper,
for $250 down payment and $200 x 12 monthly payments, for total of $2650.
The payment can be extended over two years without interest.
If I decide to sell the car in a year, I can either get prorated refund, or
transfer the warranty and payments.
Should I get the warranty, or should I risk it and save $2650?

 

The only issue with an extended warranty is the probability of
spending the warranty fee ($2650) over the ensuing 39K miles or the
next two years. The per year expected costs for maintainance for years
4 and 5 for a 2001 civic suggest a much smaller outlay of funds. I'd
pass this up.

 

I have a Honda Civic LX 2001 manual transmission.

I may not have stated the extended warranty clearly. I will get
additional 5 years and additional 75k miles, after my current
warranty expires. I will need to look at the maintanence cost for
the years 4, 5, 6, 7, & 8, over the next 75k miles (when the car
reaches 111k miles). Do you still think that I should pass up on
the offer? By the way, it's a two-door model, not four-door.

 

Harvey's approach is the right one, though, to figure out if it is
worth it. Estimate the likely maintenance costs for the years in
question, LESS those that are not covered by the extended warranty...
compare to the cost of the extended warranty.

It may be called a warranty, but it is more like a flat rate payment
plan for maintenance.

Pretty well all extended warranties, whether for cars, TVs or cameras,
are major ripoffs. That's why they push them so hard. Gravy for them!

Total maintenance costs for years 4, 5 and 6 for my 1998 Civic EX were
zero.

H.

 

I have a Honda Civic LX 2001 manual transmission.

I understand the concept behind warranty and maintenance costs,
and stuff. My question was regarding my specific case.
Should I or shouldn't I? What is the probability of break-down?
What is the reliability of my car? I don't know what the projected
maintenance cost would be for my situation.
Is the extra coverage and peace of mind worth $2650?
Is the Honda Civic LX so well built that I can comfortably risk it?
If your Honda Civic EX is a predictor of my car's future performance,
then I think I should pass up on the extended warranty offer.
How does Honda Civic LX usually stand up?

 

Sure, go for it.

 

In general, it is a bad investment. However, everyone is different. I tend
to worry more than the regular person. It's for that reason that I have an
extended warranty. When the engine light comes on, I don't have to worry
about it. If I did NOT have the extended warranty, I would worry a lot
about it until I found out what was wrong with it. The extended warranty
provides you with peace of mind. However, if you are not a person that
worries--save the money and just hope that nothing major--like the engine
and transmission--ever breaks down.

 

This is not an issue about your car breaking down. It will do so or
not regardless of whether you have an extended warranty. This is about
money. Don't worriers worry about money?

H.

 

check out the price at www.curryhondacare.com

 

Some (all?) extended warrantees will have issues such as the
following:

a) The allowed repair shoppes will be limited in some sort of way -
certified mechanic, just dealers, etc. - so your choice of repair
shoppes are reduced. .

a') are you required to religiously follow maintenance schedules?
Whoops we won't cover you because you waited a bit to long on that one
maintenance. Meanwhile, practitioners in the field may know from
experience that such maintenance can be done less ofter. Is the plain
old factory recommended maintenance sufficient or do you have to do
more?

b) what happens if you move to another state? Usually insurance
companies are licensed in a state ... will the policy be honored in
another state? By whom?

c) oops ... bad accident - car is totalled....now what....$$$$ down
the drain?

d) even though Joe Blows repair shoppe is a qualifying repair shop for
insurance purposes, do you think they want to screw with it? Labor
rate paid by contract will probably be reduced from the normal retail
rate. Once the problem is diagnossed, the shop will need to get
authorization to proceed with the repair. (Meanwhile you call and you
get "sorry, the insurance company hasn't authorized the repair
yet"...time delays). And Joe Blow can repair other peoples car
because yours is sitting on the lift all torn apart.

e) Fraud prevention: The insurance company makes its profits by
controlling expenses. Necessarily, tis means it must guard against
fraudulent claims. Thats gobbs of overhead to audit, verify and
deter. $$$$$$.

 

I have a 98 Civic DX, 120K miles. Only expense besides fuel and oil changes:
-Tires
-Timing belt
-Battery
-Cracked exahust manifold (covered under extended warranty and paid by
Honda)
Runs great, looks great, looks like it has a lot of miles to go.

 

wrote in 4ax.com:

www.curryhondacare.com sells the Honda Care warranty.

 

..

Nice web page but were is the actual policy? How are disputes dealt
with? Do you think the repair shop doesn't have to get authorization
to go ahead with a covered repair? Are there any inducements back to
the dealer to discourage repairs (e.g., HMO primary provider)?

 

wrote in 4ax.com:

It's a 'Honda Care' Manufacturer's Extended Warranty at a discounted price.
Talk to your local Honda dealer about the details of the plan.

 

I understand the concept behind warranty and maintenance costs,

I will say this. I have a 1994 Civic DX 5 speed. I bought it at 89,500
miles in May 1999, and it is now over 177,000 miles. I have put in 4
CV axles, a clutch slave cylinder, one set of brake rotors, 3 or 4
sets of front brake pads, one set of rear brake shoes, one actuation
cylinder (at $29 from Autozone) for the rear brakes that I messed up
myself, a timing belt with water pump, a tranny fluid change, MANY oil
changes, and a coolant flush. I don't think that very many of these
things would be covered under your warranty, but that's my maintenance
history. Some years were very close to zero, this year will be
expensive due to the upcoming timing belt/water pump replacement.

Nate

 

$2650 is a lot of cash to lay down for a "mechanical breakdown insurance
policy" that is not going to pay one red cent toward any of the routine
repairs Nate delineates in his reply. Stick the $2650 in a savings
account.