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Smart Shopper Honda Extended Warranties Pricing and Info
3104 messages, Last post on Nov 25, 2009 at 7:48 AM
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Replying to: cwalti (Nov 25, 2006 8:00 pm)  But... Among the considerations for buying or not buying extended warranty are the likelihood of failure and the financial impact of failure. There is evidence that MTs fail at lower rate than ATs, and that Accord's 4 cyl is more reliable than the v6. My understanding is that the v6 warranty sells for more, so perhaps the 4 cyl vs v6 issue is factored in the price (although I think not completely). But there is no price differential between MT & AT warranties. Kind of similar logic as if you were to say that you would buy extended warranty for a Chrysler but not for a Honda, even though there is no assurance of a long trouble free life for the Honda! Chances are pretty low that a mechanic would declare himself incompetent, but then again I am not talking about walking over to a random mechanic on the road.  Plus it is not a question of competence -- he may say that he does not have this tool or that, or he may be planning to sell his business and retire!
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Replying to: mi2kshop (Nov 25, 2006 11:30 pm) Since the plan had a pro-rated refund and is transferable to a new owner and is Honda backed, *I* think it can be a decent deal if you plan on keeping your car past the new car warranty. Dennis |
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Replying to: dwynne (Nov 26, 2006 10:40 am) Also if things like that were common, the Accord would certainly be a car to avoid rather than buying the car and then buying an extended warranty to cover all these problems you are going to have to keep having fixed.
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Replying to: jaxs1 (Nov 26, 2006 10:54 am) Same is true for your car insurance, right? You are a great driver and will not cause an accident so drop your coverage and take your chances. You would save a lot of money that way and depend on your driving skill to not be out a lot of money. This seems to be the pricing and info forum, not the "should you get it or not" forum . It is not for everyone, but if you want to get coverage then get HondaCare from a discount dealer - and we can help you do that in this forum. Dennis
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Replying to: dwynne (Nov 26, 2006 3:31 pm) If you buy the extended warranty on the next 10 Honda's you purchase, you can bet that you would have spent more on extended warranty premiums that you would get paid back in claims. Not just a few dollars more either. Likely thousands of dollars over that time period. That remains true even if one or two out of the 10 cars had some major covered failure that would have cost more than the warranty's premium. That is how it is a money loser. You cannot forget about all the times you paid for the warranty and lost money and think that if you hit the jackpot on some major issue that wipes all the other previous and future costs away. If you had invested the extended warranty money even into something as risk-free as CDs over that time period, the money lost is magnified that much more. Also, of course the dealership is going to print that it costs $2000 or more to replace an A/C compressor on a 3 year old Accord. You have no reason to question the price printed on the invoice and it's a marketing technique to drive future extended warranty purchases by you and all the people you go around telling how great the warranty was to pay so much money out. It increases their business. The service department will get paid the extended warranty's discounted rate which is still much better than the $0 they would receive if you had a reason to shop that high-ball price they print on your copy of the invoice around elsewhere. |
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Replying to: dwynne (Nov 26, 2006 3:31 pm) car insureance you have no choice according to the law. an extended warranty is by choice and a poor one in my opinion - especially on a Honda. If you say it gives you peace of mind, then so be it. I have peace of mind keeping that coin in the bank or on a couple of plane tickets to Hawaii 
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After having recently purchased a 07 Honda Accord w/ NAV, I debated whether to get a Warranty or not. Most dealer Markups on this type of Warranty are all over the place. With advanced components like a NAV system, it could be very expensive to replace. If you are looking for pricing information, may I suggest this web site www.hondacuraworld.com. They sell genuine Honda extended warranties on line. I saved more than a $1,000 purchasing an extended warranty from them rather than from the dealer I purchased my car . At the very least you could use their pricing information to negoiate a better price from a dealer. One thing to remember, you can buy a genuine Honda warranty anywhere. It's good at all Honda dealerships. Hope this info helps. One last thing,with the ody thread discussion, an extended warranty for 8yr 120k goes for $1330.
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Replying to: flash45 (Nov 29, 2006 10:24 am) At www.hondacuraworld.com they show $1025 for 8/120k/$0 for an I4 Accord or $1480 for a V6 Accord (I think this price is a mistake - way too high). The Ody is $1330 as you mentioned. At Bernardi the same plans are MUCH less money. I4 Accord: 8 years/120,000 miles warranty $0 deductible = $925.00 V6 Accord: 8 years/120,000 miles warranty $0 deductible = $980.00 Ody: 8 years/120,000 miles warranty $0 deductible = $1,230.00 So if you order from the place you suggest, you will pay $100 more for the same thing. You have 30 days to cancel for a full refund, I would cancel and re-buy and pocket the $100. If you purchased the V6 Accord plan for the $1,480 shown you would get back $500 by cancelling and buying from Bernardi. I have no affiliation with Bernardi, but I HAVE purchased HC plans from them in the past. If someone has a better price I would post it. Dennis |
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Normally I don't purchase extended warranties, but yesterday when buying my accord I was intrigued (but did not actually buy) by a $1600 8/120 warranty sold by the dealer. The underwriting company is Fidelity something. One of the terms of the deal is that if you make no claims at all, you can get $1550 back after 8 years. So, one way to use this warranty is to not use it unless you need a repair for more than $1600. So either you lose $50 + interest, or you get repairs worth more than $1600. This sounds like a good deal -- what's the catch? Of course, there should be other considerations, such as if the company will be around for 8 years, or if the company denies claims for phony reasons. Does anybody know about this company and it's warranty?
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Replying to: jimmibondi (Nov 30, 2006 1:35 pm) What happens if you need an $800 repair? Do you pay for it yourself and hope you get the $1550 back later? If you do pay for it, then have more problems then you will be out the $1600 plus the $800 you paid out of pocket to try to get the $1550 back. Also check the fine print, they could have language in there that says you have to still own the car and the end of the warranty to get the refund. They are betting the majority of folks will either have their car wreck, stolen, or sell/trade it before then - then they get to keep the whole $1,600 and do nothing for it. While looking at the fine print, hot much WOULD you get back if you cancel early for any reason. Dennis
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